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Clarification on Payment of Service Tax in Transitional Period

Clarification on Payment of Service Tax in Transitional Period  Certain transitional issues arising with respect to payment of service tax after 30th June 2017 have been clarified by CBEC vide circular dated 28-9-2017. It has been clarified that in cases where service was received before 1-7-2017 and payment for the value of the service was […]

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GST Tip – 309

As per Rule 118 of the CGST Rules, FORM GST TRAN-1 has to be filed within 90 days from the appointed date i.e, 1-July-2017 to avail the transitional input tax credit (VAT and Service Tax) for goods and services received after the appointed date but invoiced before the appointed date.

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GST Tip – 241

As per Transitional Rules, if goods are sent on sale or approval basis before the appointed date, the taxpayer has to submit the details of goods sent on sale or approval basis in FORM GST TRAN-1 within 90 days from the appointed date.

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GST Tip – 237

As per the Transition Rules, the amount of credit specified in the FORM GST TRAN-1 shall be credited to the electronic credit ledger maintained by the common portal in FORM GST PMT-2.

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GST Tip – 236

As per the Transitional Rules, every taxpayer opting to take input tax credit under Section 140 of CGST Act is required to file FORM GST TRAN-1 within 90 days from the appointed date. The same can be extended for another 90 days by the commissioner on recommendations of the GST Council.

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