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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 […]

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GST Tip – 385

As per Rule 138 of the CGST Rules, every registered person under GST has to generate Part A of FORM GST EWB-01, when goods worth more than Rs 50,000 are being transported in relation to supply or for stock transfer from one location to another location or for movement of material for other than supply or […]

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GST Tip – 363

As per Notification No.   45/2017 – Central Tax, details related to  Inward supplies received from a registered supplier (other than supplies attracting reverse charge) are not required to be reported in Section 4A of the GSTR – 4 for July 2017 to September 2017 and October 2017 to December,2017quarters.

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GST Tip – 329

If a taxpayer has missed any outward supplies or inward supplies invoices amounts while filing GSTR – 3B, those invoices can be included in the GSTR – 1 and GSTR – 2 and the output liability and input tax credit will be considered in the GSTR – 3 and if any amount is payable the […]

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GST Tip – 292

In subsection A of Section 4 of GSTR – 3B, input tax credit availed during the month has to be shown separately for all the taxes for import of goods, import of services, inward supplies from ISD, inward supplies which attract reverse charge along with any other sources from where ITC is claimed that is for the […]

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GST Tip – 263

Notification No.8/2017-Central Tax (Rate), provides relief to lot taxpayers as it gives exemption up to Rs 5,000 per day for paying tax under reverse charge for inward supplies from unregistered taxpayers.

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