GST FAQs on Composition Scheme

GST FAQs on Composition Scheme

Our second part in the GST FAQs series deals with the Composition Scheme which was introduced under the Goods and Services Act keeping the best interests of small businesses in mind. SMEs often face the challenges of maintaining various compliances with the statutory bodies of the country in a timely manner. Composition Scheme permits the taxpayer […]

GST FAQs on Services – All You Need to Know

GST FAQs on Services

The Central Board of Excise and Customs have curated a list of Frequently Asked Questions on the Goods and Services Tax that were received from various sources and based on further scrutiny & development, those questions were converted into short FAQs.

Valuation in GST – Rules for Supply of Goods or Services

Valuation in GST

Section 15 of the CGST Act and Determination of Value of Supply, CGST Rules, 2017 contains the provisions related to the valuation in GST for the supply of goods or services made in different circumstances and to different persons. Valuation in GST Every fiscal statue makes provision for the determination of value as the tax […]

Accounts and Records under GST

Accounts and records under GST

Section 35 of the CGST Act and “Accounts and Records” Rules (hereinafter referred to as rules) provide that every registered person shall keep and maintain all records at his principal place of business. It has cast the responsibility on the owner or operator of warehouse or godown or any other place used for storage of […]

CGST Rate Schedule Notified By The Government

CGST rate schedule

On 28th June 2017, under sub-section (1) of section 9 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government notified the CGST rate schedule applicable to goods. This notification shall come into force with effect from the 1st day of July 2017. As per the Goods and Services Tax Regime, […]

Ways to File an Appeal under GST

Appeal Under GST

Previously, we spoke about the various Anti-Profiteering rules under GST Law. Today we will be talking about the ways of filing an appeal under GST regime. Laws, in general, impose two kinds of obligations. The first obligation is related to tax and the second obligation is related to the procedure. Any registered taxpayer’s compliance with […]

Types of Electronic Ledgers under GST

Electronic Ledger Under GST

After the Goods and Services Tax is implemented, every individual taxpayer registering under GST will be able to access the GST common portal by using their individual login credentials. After a successful login, the taxpayers will be able to access the dashboard and all the various features being presented. Under the GST common portal, every […]

Anti-Profiteering Rules under GST Law

Anti-Profiteering Rules under GST

The Anti-Profiteering rules under GST law have been released by the Government of India. For the purpose of the same, a notification has been issued for setting up of a National Anti-profiteering Authority. This Authority shall be empowered to levy a penalty if businesses do not pass on the benefit of price reduction to consumers […]

Scrutiny of Returns Filed under GST Law

Returns under GST

In our previous posts, we have examined the returns that have to be filed & the timeline for filing the returns. We shall now understand how the returns filed under GST are examined by the GST Authorities.

Audit under GST Law – What Taxpayers Need to Know

Audit under GST

Section 65 of the GST empowers the GST authorities to conduct an audit of the tax payers. The audit under GST shall be conducted at such frequency and in such manner as provided under GST law. The audit shall be conducted at the place of business of the registered person or in their office. Prior […]

The most frequent problems that business owners face are to do with accounting & regulatory compliance. Entrepreneurs view time invested in doing both as unproductive time.

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