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GSTR 9C

Reading Time: 2 minutes Taxpayers have reported some issues in filing their Annual Return Form GSTR 9C, which are clarified below: Turnover for filing Form GSTR- 9C: Form GSTR-9C is to be filed by all those taxpayers whose aggregate turnover has exceeded Rs 2 crore in a financial year. Turnover of complete year i.e. from 1st April, 2017 to
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GSTR 9C

Reading Time: 2 minutes Taxpayers have reported some issues in filing their Form Annual Return GSTR 9, which are clarified below: 1. Some taxpayers have reported that figures of Input Tax Credit (ITC), as pre-populated in table 8A of Form GSTR-9, do not match with the figures as appearing in their Form GSTR-2A. Please note that this may happen
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Reading Time: 2 minutes The last date for filing of Annual return in FORM GSTR-9 is 30th June 2019. The trade and industry have raised certain queries with respect to filing of this Annual return which are being clarified as follows: a) Information contained in FORM GSTR-2A as on 01.05.2019 shall be auto-populated in Table 8A of FORM GSTR-9.
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GST Revenue collection for May, 2019

Reading Time: 1 minute Rs 1,00,289 crore total gross GST revenue collected ;a growth of 6.67% over the revenue in the same month last year   The total gross GST revenue collected in the month of May, 2019 is Rs 1,00,289 crore of which CGST is Rs 17,811 crore, SGST isRs 24,462 crore, IGST is Rs 49,891 crore(including Rs 24,875 crore collected on imports) and Cess is Rs 8,125 crore (includingRs 953 crore collected on imports). The
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Reading Time: 2 minutes As per directions of GST Council, GSTN has partnered with some Billing and Accounting software vendors for providing free software to the Micro, Small and Medium Enterprises, with annual turnover under Rs 1.5 Cr, in a financial year. This facility is made available to the active Normal taxpayers, SEZ Developers/SEZ Units and taxpayers who have
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GST For Real Estate Sector

Reading Time: 3 minutes GST on Real Estate, A number of issues have been raised regarding the new GST rate structure notified for real estate sector effective from 01-04-2019. A compilation of Frequently Asked Questions (FAQs)containing 41 questions was issued on 7thMay, 2019.Part II of the FAQ is presented below. The answers to the FAQs have been given in
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GST Practitioner Examination Schedule

Reading Time: 2 minutes GST Practitioner Examination Schedule , Attention Candidates who willing to make their career as GST Practitioners, the central board of Indirect Tax and Excise has issued a Press Release-cum-Schedule related to Examination for confirmation of enrollment as GST Practitioner dated 10. 05.2019 Examination for confirmation of enrollment of GST Practitioners to be conducted by NACIN.
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GST For Real Estate Sector

Reading Time: 6 minutes GST For Real Estate Sector, A number of issues have been raised regarding the new GST rate structure notified for real estate sector effective from 01-04-2019. A compilation of Frequently Asked Questions (FAQs) is presented below. The answers to the FAQs have been given in simple language for guidance and easy understanding of all stakeholders
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Deemed Exports

Reading Time: 8 minutes “Deemed Exports” refers to supplies of goods manufactured in India (and not services) which are notified as deemed exports under Section 147 of the CGST/SGST Act, 2017. The supplies do not leave India. The payment for such supplies is received either in Indian rupees or in convertible foreign exchange. Deemed exports are not zero rated
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Transfer of Credit on Sale, Merger, Amalgamation, Lease or Transfer of a Business

Reading Time: 2 minutes According to the provisions provided under Rule 41 of the Central Goods and Services Tax (CGST) Rules, 2017 related to “Transfer of Input Tax Credit (ITC) on Sale, Merger, Amalgamation, Lease or Transfer of a Business”, are as under: (1) A registered person shall, in the event of sale, merger, de-merger, amalgamation, lease or transfer or change
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