Articles under GST

GST practitioners examination

  Pattern and Syllabus for GST Practitioner examination    The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) has been authorized to conduct an examination for confirmation of enrollment of Goods and Services Tax Practitioners (GSTPs) in terms of the sub-rule (3) of rule 83 of the Central Goods and Services Tax Rules, 2017, vide Notification No. 24/2018-Central Tax dated 28.5.2018.   The GSTPs enrolled on the GST Network under sub-rule (2)

Read More

Extended due date for filing FORM GSTR-1 and FORM GSTR-3B, GST

   FORM GSTR-1 furnishing extended due date, GST   Extension of due dates for filing of FORM GSTR-1 and FORM GSTR-3B in certain cases   It has been observed that the number of taxpayers who have filed FORM GSTR-3B is substantially higher than the number of taxpayers who have furnished FORM GSTR-1 . Non-furnishing of FORM GSTR-1 is liable to late fee and penalty as per the provisions of the GST law. In order to encourage taxpayers to furnish FORM GSTR-1

Read More

Compliances from ITC reversal point opting for composition levy under GST

What are the compliances from ITC reversal point of view that need to be made by a person opting for composition levy under GST? The registered person opting to pay tax under composition scheme is required to pay an amount equal to the input tax credit in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock on the day immediately preceding the date of exercise of option. The ITC on inputs shall be calculated proportionately on the basis of co

Read More

E-Way Bill system rolled out states for intra-State movement of goods under GST

  E-Way Bill system implemented states for intra-State movement of goods under GST          As per the decision of the GST Council, e-Way Bill system for inter-State movement of goods has been rolled out from 01 st April, 2018. As on 3 rd June, 2018, e-Way Bill system for intra-State movement of goods has been rolled out in the States of Andhra Pradesh, Arunachal Pradesh, Assam, Bihar, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Ma

Read More

E way Bill decision taken by 26th GST Council on 10th March

  Major Recommendations made during the 26 th meeting of the GST Council held on 10 th March, 2018 in  New Delhi   GST Council meeting held on 10 th March, 2018, recommended the introduction of electronic way or e-way bill for movement of goods between states will be implemented from April 1. However, for intra-state movement, the e-way bill would be rolled out in a phased manner but not later than 01 st June,2018.   Major improvements over

Read More