For determining the eligibility for the GST Audit, do I need to consider the turnover as per the financial statements or I need to compute it separately? It has to be considered separately as the turnover given in the Financial statements is based on the accounting standards and for GST it is based on Aggregate […]
As per Circular No 34 dated 1 st March 2018, bus body building is considered as Composite Supply and based on the contract to contract, the principal supply is to be determined and basis on which GST will be determined as supply of goods or services.
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 […]
As per Sub-section 68 of Section 2 of CGST Act 2017, ” means any treatment or process undertaken by a person on goods belonging to another registered person and the expression “job worker” shall be construed accordingly” meaning that it would amount to supply if the job worker adds any materials during the process or […]
As per the Tax Invoice, Credit and Debit Note Rules, released for GST on 18th May 2017, as per Rule 5 at the time of creation of receipt voucher, if the nature of supply is not known, then the supply will be determined as inter-state supply and IGST should be levied.
Every registered tax payer has to issue an electronic waybill aka e-waybill if the consignment value is more than Rs 50,000 (fifty thousand) for the following cases, a) in relation to a supply, b) for reasons other than supply (job work, moving out machinery for repairs) and c) on purchases/supplies from unregistered persons.