Posted On:  3 months ago


CBEC notifies FORM GST REG-13, Rules reversal of credit of additional duty of Customs on Gold dore bar and Other changes.

G.S.R. ( )E.:- In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017

article author One Roof Consultant

Posted On:  5 months ago


Short FAQs on Tweets Questions received by GST_GOI handle

The tweets received by ask GST_ GoI handle were scrutinized and developed into a short FAQ of 100 tweets.

article author CA Chirag Chauhan

Posted On:  7 months ago


FAQs on Concept of Input Service Distributor in GST

Every person registered under GST will have to file returns in some form or other. A registered person will have to file returns either monthly (normal supplier) or quarterly basis (Supplier opting for composition scheme). An ISD will have to file monthly returns showing details of credit distributed during the particular month. A person required to deduct tax (TDS) and persons required to collect tax (TCS) will also have to file monthly returns showing the amount deducted/collected and other details as may be prescribed. A non-resident taxable person will also have to file returns for the period of activity undertaken.

article author One Roof Consultant

Posted On:  7 months ago


FAQs on Overview of Goods and Services Tax (GST)

It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff. In a nutshell, only value addition will be taxed and burden of tax is to be borne by the final consumer

article author One Roof Consultant

Posted On:  1 year ago


Various returns under Goods and Service Tax (GST)

GST has been passed in the parliament and will be and the Government is working eagerly to make this act let applicable from 1st April 2017 following the motto “One Nation One Tax”. After this act come into force each person whether of Service background or of Manufacturing background or of any other back ground will come under one common tax net. Each person has to file common return whether he/she is of Service background or of Manufacturing background or of any other background. This article will give you information on the various returns introduced under the GST act. The following are the returns which have been introduced under the GST

article author CA Chirag Chauhan

Posted On:  1 year ago


CBEC amends Service Tax Return Form ST-3

G.S.R….. (E). – In exercise of the powers conferred by sub-section (1) read with subsection (2) of section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Service Tax Rules, 1994, namely:- 1. (1) These rules may be called the Service Tax (Third Amendment) Rules, 2016. (2) They shall come into force on the date of their publication in the Official Gazette.

article author One Roof Consultant

Posted On:  1 year ago


FAQs on Returns Process and matching of Input Tax Credit as per Goods and Service tax (GST)

Every registered taxable person - who crosses the threshold limit for payment of taxes. A supplier needs to be registered when the aggregate turnover crosses Rs. nine lacs but he become taxable person ONLY when he crosses Rs. ten lacs. So he will be required to file returns when he crosses the threshold limit of Rs. ten lacs. There are some other class of persons who need to be registered and therefore will have to file returns like interstate suppliers,

article author CA Chirag Chauhan

Posted On:  1 year ago


FAQs on Overview of Goods and Services Tax (GST)

This article provide an overview about Goods and service tax, various concepts relating to GST. It clarifies the concept of destination based tax on consumption, which taxes will be replaced by GST

article author CA Chirag Chauhan

Posted On:  2 years ago


INPUT SERVICE DISTRIBUTOR - CONCEPT SIMPLIFIED & SCOPE WIDENED

Budget 2016 has been introduced and it has bought some major changes in the Cenvat credit scheme by amending the Cenvat Credit rules, 2004. One such change has been introduced in the rule 7 which relates to the input service distributer. With a view to improve credit flows between different manufacturing / service locations, Rule 7 dealing with distribution of credit on input services by an Input Service Distributor is being completely rewritten by way of substitution of the existing Rule 7 of the CCR. Also, a new rule 7B has been inserted providing the distribution of credit by warehouse. This article is an insight on the amendments so made w.e.f. 1.4.2016.

article author CA PRADEEP JAIN

Posted On:  2 years ago


SWACHH BHARAT CESS-CLEANING INDIA OR CLEANING POCKETS!!

The moment when it was announced by the Hon’ble Finance Minister that the exemption is being provided to the levy of Education Cess and Secondary & Higher Education Cess, there was a sigh of relief that there will be reduction in the rate of service tax.

article author CA PRADEEP JAIN

Posted On:  2 years ago


Change in Service Tax effects of Swachh Bharat Cess

The government has come up with introduction of SBC immediate post festive season. Notification no. 21/2015 has been issued appointing 15th November, 2015

article author One Roof Consultant

Posted On:  2 years ago


Input credit and payment of Invoices.

Reversal of CENVAT credit in respect of invoices where payment is not made within 3 months of date of invoice. Consequences of not making payment within three months of the date of the invoice- where service provider is liable to discharge service tax liability - See more at: https://expertmile.com/arti.php?article_id=880&title=Input-credit-and-payment-of-Invoices.#sthash.upuqSOv6.dpuf

article author SAGAR BHALERAO

Posted On:  2 years ago


Reversal of CENVAT credit in case of flat sold after completion

Reversal CENVAT credit when some of the flat are sold by builder/developer after completion.

article author SAGAR BHALERAO

Posted On:  2 years ago


Roadmap to GST and Opportunity for CA

A brief right up on GST Act.

article author Sidharth Gupta

Posted On:  2 years ago


How to Audit Cash and Bank Balances

Accounting and auditing procedures differ across companies and industries but audit procedures for cash are similar. The auditor must obtain reasonable assurance that the cash balances of the company are stated accurately and does so using mostly standard procedures. Knowing audit procedures for cash can eliminate any surprises for you and your company around audit time.....

article author CA Nikesh Sheth

Posted On:  2 years ago


Brief analysis on joint account & nominations for successions

Succession of properties on death is a common concern for many. Popular and common advice to a person is "open a joint account or hold properties jointly" to avoid...

article author Amitav Ganguly

Posted On:  3 years ago


Reversed cenvat credit can be re-taken even after 6 months

Reversed cenvat credit can be re-taken even after 6 months

article author CA Pratik Anand