Customer Care
askus@india-gst.in

GST TIP – 451

Railways has been exempted from generation and carrying of e-way bill with the condition that without the production of e-way bill, railways will not deliver the goods to the recipient. But railways are required to carry invoice or delivery challan etc.

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Synopsis of GST Notifications issued on 13th Oct 2017

Synopsis of GST Notifications  During the 22nd GST Council Meeting, many decisions have been taken to make the GST System simpler and more user-friendly. Some of the key decisions taken are like differing reverse charge till the end of April 2018, change in the reporting requirements for GST Taxpayers up to a turnover of Rs 1.5 […]

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GST Tip – 288

Notification No.10/2017-Central Tax (Rate), if a registered tax payer who is in the purchase and sales of second-hand goods is exempted from paying taxes under reverse charge in case if he makes any purchases from the unregistered tax payers.  Refer here for full extract of the notification – http://india-gst.in/wp-content/uploads/2017/06/Rate-10-2017.pdf

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GST Tip – 257

As per Notification No.2/2017-Central Tax (Rate), 149 items are exempted from the CGST on the recommendation of the GST Council which are of public interest.  The same can be accessed from here – http://india-gst.in/wp-content/uploads/2017/06/Rate-2-2017.pdf

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GST Tip – 232

As per the Tax Invoice, Credit and Debit Note Rules, an insurer, banking company or financial institution or non-banking company are exempted from serial numbering & address of the recipient to be shown on tax invoice or any other document issued physically or electronically to the customers for the service charges levied for services but it […]

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GST Tip – 202

As per the Draft Input Tax Credit Rules, input tax credit on capital goods is allowed if the same are used exclusively for the supply of taxable goods including zero-rated goods. If they are used partially for the exempted goods and taxable goods, then ITC has to be taken the basis of Rule 8.

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GST Tip – 175

Input tax credit with respect to a banking company or a financial institution including a non-banking financial company, engaged in supplying services by way of accepting deposits, extending loans or advances have an option to claim only 50% of the GST taxes paid as Input Tax Credit. Alternatively, they can avail input tax credit to the extent […]

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