Posted On:  18 hrs ago


Integrated Goods and Services Tax Act

The introduction of Goods and Services Tax (GST) is a significant reform in the field of indirect taxes in our country. Multiple taxes levied and collected by the Centre and states would be replaced by one tax called Goods and Services Tax (GST). GST is a multi-stage value added tax on consumption of goods or services or both.

article author One Roof Consultant

Posted On:  21 hrs ago


Electronic Way Bill in GST

A waybill is a receipt or a document issued by a carrier giving details and instructions relating to the shipment of a consignment of goods and the details include name of consignor, consignee, the point of origin of the consignment, its destination, and route. Electronic Way Bill (E-Way Bill) is basically a compliance mechanism wherein by way of a digital interface the person causing the movement of goods uploads the relevant information prior to the commencement of movement of goods and generates e-way bill on the GST portal.

article author One Roof Consultant

Posted On:  21 hrs ago


Electronic Cash/Credit Ledgers and Liability Register in GST

On the common portal each registered taxpayer will have one electronic register called the Electronic liability register and two electronic ledgers namely Electronic Cash Ledger and Electronic Credit Ledger. These register and ledgers will reflect the amount of tax payable, the amount available to settle the tax liability online, and input credit balance. This is a handy tool provided in the GST system wherein the registered taxpayer can have information about his liabilities and credits at a single location which can be viewed from any place by simply logging into the common portal.Electronic liability register, electronic cash ledger and electronic credit ledger of taxpayer will be updated on generation of GSTR-3 by the taxpayer.

article author One Roof Consultant

Posted On:  3 days ago


Reverse Charge Mechanism in GST

Generally, the supplier of goods or services is liable to pay GST. However, in specified cases like imports and other notified supplies, the liability may be cast on the recipient under the reverse charge mechanism. Reverse Charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply

article author One Roof Consultant

Posted On:  6 days ago


Casual taxable person in GST

“Casual taxable person” means a person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business, whether as principal, agent or in any other capacity, in a State or a Union territory where he has no fixed place of business.

article author One Roof Consultant

Posted On:  1 week ago


Registration under GST Law

In any tax system registration is the most fundamental requirement for identification of tax payers ensuring tax compliance in the economy. Registration of any business entity under the GST Law implies obtaining a unique number from the concerned tax authorities for the purpose of collecting tax on behalf of the government and to avail Input tax credit for the taxes on his inward supplies.

article author One Roof Consultant

Posted On:  1 week ago


Why Electoral Bonds are Necessary

"India is the largest democracy in the world. However, despite strengthening various institutions for the last seven decades, India has not been able to evolve a transparent political funding system. Elections and political parties are a fundamental feature of Parliamentary democracy. Elections cost money. The round the year functioning of the political parties involves a large expenditure.

article author One Roof Consultant

Posted On:  3 weeks ago


No shop & establishment license required for less than 10 employees from 2018 in Maharashtra

The new amendment effective from 20th December 2017 has been proved to be a boon and relief to many employers and small and medium size establishments. The state government has amended by issuance of notification the Maharashtra Shop and Establishment (Regulation of Employment and Service Condition) Act 2017.

article author CA Chirag Chauhan

Posted On:  1 month ago


How to pay advance income tax online

Advance tax is liable for those whose liability is more than 10,000 in a financial year. Advance tax is payable for all the taxpayers, Salaried freelancers & business man. This tax is mainly for those who received income from other sources apart from their salary. This tax is exempted for the senior citizens who are 60years & older & do not run a business.

article author CA Chirag Chauhan

Posted On:  1 month ago


New stepwise online process to register partnership firm in Maharashtra

Recently the process of partnership has been changed and made online from November 2017. Partnership registration has been a lengthy and tedious process all through this years. But to simplify this process the Registrar of Firms has made the process online although physical submission of documents is required to be done thereafter at respective office depending upon place/ area.

article author CA Chirag Chauhan

Posted On:  4 months ago


Composition scheme for Small Traders, Manufacturers, Restaurants

Tax payer who option for composition scheme ,have to file only one quarterly return with details of tot turnover .invoice with details are not necessary ,bill of supply will suffice .first such return for the quarter July - September ,2017 has to be filed by 18th October .Form GSTR-4A not to be filed for this quarter.

article author CA Chirag Chauhan

Posted On:  4 months ago


GST FAQ on Government Services

These include services provided by government or a local authority or governmental authority by way of any activity in relation to any function entrusted to a municipality under Article 243W of the Constitution and services by a governmental authority by way of any activity in relation to any function entrusted to a Panchayat under article 243G of the Constitut

article author CA Chirag Chauhan

Posted On:  4 months ago


Clarifications on Guidelines on insurance e-commerce and electronic issuance of insurance policies

The Authority as part of its developmental mandate and to reach out to the policyholders in a cost efficient manner has taken number of steps. This includes issuing revised guidelines on insurance repositories, insurance e-commerce, issuance of electronic insurance policies, maintenance of electronic records, etc.

article author One Roof Consultant

Posted On:  4 months ago


DGFT allows Import of 3 Lakh MT of raw sugar under Exim Code 170114

Import of 3 Lakh MT of raw sugar under Exim Code 170114 is allowed to be imported by millers/ refiners at 25% Tariff Duty, through the following ports in the southern states and corresponding Regional Authorities of DGFT,

article author One Roof Consultant

Posted On:  4 months ago


How to file GSTR 1-FAQ GST

GSTR 1 is a monthly Statement of Outward Supplies to be furnished by all normal and casual registered taxpayers making outward supplies of goods and services or both and contains details of outward supplies of goods and services

article author CA Chirag Chauhan

Posted On:  4 months ago


Effective GST grievance redresal mechanism needed

The weekly newsletter which is otherwise issued on Fridays was postponed for today so as to cover part of the proceedings of the two days Rajaswa Gyan Sangam which was held on 1st and 2nd September 2017.

article author One Roof Consultant

Posted On:  5 months ago


GST FAQ on Queries relating GST receiving from various sectors

-Time of supply of service has been explained in section 13 of CGST Act. The supplier of service will have to issue a tax invoice within 30 days of supply of service (the measurement is finalised by the departmental engineer or service provider whichever is earlier.)in case of reverse charge , government department will raise invoice accordingly [refer section 13(3)].

article author CA Chirag Chauhan

Posted On:  5 months ago


GST FAQ on E-commerce

Electronic Commerce has been defined in Sec. 2(44) of the CGST Act, 2017 to mean the supply of goods or services or both, including digital products over digital or electronic network.

article author CA Chirag Chauhan

Posted On:  5 months ago


GST FAQ on IT/ITES

In terms of Schedule II of the CGST Act 2017, development, design, programming, customization, adaptation, up gradation, enhancement, implementation of information technology software and temporary transfer or permitting the use or enjoyment of any intellectual property right are treated as services.

article author CA Chirag Chauhan

Posted On:  5 months ago


Online Registration Mechanism for Securities Market Intermediaries

Online Registration Mechanism for Securities Market Intermediaries

article author One Roof Consultant