Customer Care
+91-9951805559

Certain important issues referred by GST Council to various Committees / GoM

Ministry of Finance Certain important issues referred by GST Council to various Committees / GoM Posted On: 22 DEC 2018 4:44PM by PIB Delhi The GST Council in its 31st meeting held today at New Delhi decided to refer the following issues to Committees / GoM indicated against them:   Extending the Composition scheme to small […]

Read More

Recommendations made during 31st Meeting of the GST Council

Ministry of Finance Recommendations made during 31st Meeting of the GST Council Posted On: 22 DEC 2018 4:45PM by PIB Delhi The GST Council in its 31st meeting held today at New Delhi made the following policy recommendations: There would be a single cash ledger for each tax head. The modalities for implementation would be finalised in […]

Read More

In-Principle approval given for Law Amendments during 31stMeeting of the GST Council

Ministry of Finance In-Principle approval given for Law Amendments during 31stMeeting of the GST Council Posted On: 22 DEC 2018 4:49PM by PIB Delhi   The GST Council in its 31st meeting held today at New Delhi gave in principle approval to the following amendments in the GST Acts:   Creation of a Centralised Appellate Authority […]

Read More

Recommendations made during 31st Meeting of the GST Council held on 22nd December, 2018 (New Delhi)-Rate changes

Ministry of Finance Recommendations made during 31st Meeting of the GST Council held on 22nd December, 2018 (New Delhi)-Rate changes Posted On: 22 DEC 2018 4:50PM by PIB Delhi     GST Council in the 31st meeting held on 22nd December, 2018 at New Delhi took following decisions relating to changes in GST rates on goods and services. […]

Read More

Recommendations made during 31st Meeting of the GST Council held regarding Rate changes and clarification in Goods

Ministry of Finance Recommendations made during 31st Meeting of the GST Council held regarding Rate changes and clarification in Goods Posted On: 22 DEC 2018 5:51PM by PIB Delhi GST Council in the 31st meeting held on 22nd December, 2018 at New Delhi took following decisions relating to changes in GST rates, and clarification (on Goods). The […]

Read More

TDS Impact on PSU-PSU Transactions

Tax Deduction at Source is applicable under GST from 1st of Oct 2018  wide Notification No. 50/2018-Central Tax, dated the 13th September 2018, on all transactions, if the contract value is above Rs 2.5 Lacs. The whole intention of rolling out of TDS is an anti-evasion measure. Being an anti-evasion measure the question arises is […]

Read More

FAQ – 18

FAQ – 18 : In From GSTR – 9C, what is “Adjustments in turnover due to foreign exchange fluctuations” and in which cases do i need to fill it? It has to be filled by all taxpayers who have outward supplies in foreign currency and where they issue a tax invoice as well as a commercial invoice. […]

Read More

FAQ – 17

What are the various reasons where the GST Liability as per financial statements and GST Returns could be different? There could a difference due to the following reasons commonly a) Revenue Recognition b) Stock Transfer outside the states c) Advance Receipt from customers d) GST on paid on job work if not returned in stipulated time […]

Read More

FAQ – 16

Is it Mandatory to fill all the columns in Table 4 (Outward Supplies) ? How do I show data in Table 4 of the GSTR – 9 (Annual Return)? Yes, it is mandatory to fill all the columns of Table 4 if the same is reported in the monthly returns. The break up can be […]

Read More

FAQ – 15

Do I need to do Reconciliationreconciliation between the Financial Statements and GST Returns for the turnover / outward supplies while preparing the GST Audit Reconciliation Statement? Yes, as per Ind AS – 18, revenue will be recognized only when the risks and rewards are transferred whereas in GST, at the time of Supply (section 13,14 […]

Read More