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GST on Sale of old used Car – Personal, business Purpose |Scrap, Resale
Everyone lives by selling something. However in Goods and Service Tax (GST) regime thinking of selling the old used things, brings more problem about taxation of those things. GST on Sale of old used or second hand car is one of the thing. Confusion is regarding whether it attracts GST if person sold his personal […]
Read moreExtension of March, 2019 GSTR-7 Notification No. 18/2019 – Central Tax
March, 2019 [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) ] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 18/ 2019 – Central Tax New Delhi, the 10th April, 2019 G.S.R. …..(E).—In exercise of the powers conferred […]
Read moreExtension of March, 2019 GSTR-1 Notification No. 17/2019 – Central Tax
[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 17/2019 – Central Tax New Delhi, the 10th April, 2019 G.S.R…..(E).– In exercise of the powers conferred by the second […]
Read moreEasy way to understand Reverse Charge Mechanism and its Updated List
Before going to Reverse Charge Mechanism (RCM) you should know what is Forward Charge Mechanism (FCM). Forward charge Mechanism (FCM) FCM or direct charge is that mechanism where the supplier of goods/services is liable to pay tax. For instance, if a chartered accountant provides service to his client, the GST will be payable by the […]
Read moreFAQ on Goods Transport Agency
Are you a Goods Transport Agency (GTA) ? Are you confused about whether you are liable to register today? These are the top FAQ on GTA Q.1 What is GTA? Ans: “Goods Transport Agency” means any person who provides service in relation to transport of goods by road and issues consignment note, by whatever name […]
Read moreImportant Difference between Regular and Composition scheme in GST
With the introduction of Goods and Service Tax, businesses are required to do new business compliances. However to lower the burden of compliance for small businesses, a composition scheme in GST has been introduced. Every person who crosses the threshold limit of turnover are required to take registration under GST. People get confused between regular […]
Read moreHSN and SAC to declared only above this limit
What is HSN Code? HSN codes or “Harmonized System of Nomenclature” is the Harmonized Commodity Description and Coding System. It is a multipurpose international product nomenclature developed by the World Customs Organization (WCO). It first came into effect in 1988. It contains a six-digit uniform code, arranged in a legal and logical structure, which classifies […]
Read moreGST on E-commerce Sellers – amazon, flipakart, ola
What is Electronic Commerce (E-Com) and Electronic Commerce (ECO)? Electronic commerce operator means any person who owns, operates or manages digital or electronic facility or platform for electronic commerce. Electronic commerce means supply of goods or services over digital or electronic network. In simpler terms, electronic commerce is an electronic or digital platform. Ex:- Flipkart, Amazon, Paytm, Uber, Ola, […]
Read more32nd GST Council Meeting
The 32nd GST Council Meeting was held on 10th January 2019 at New Delhi. The meeting started at the Vigyan Bhawan, Delhi. Meeting was chaired by the Union finance minister Arun Jaitley and state wise finance ministers. The Council took major decisions and made many changes that would be effective from 1st April 2019. Committee […]
Read moreFAQ on GST Annual Return form – GSTR 9 released by ICAI
Many questions and queries people were having about the filing of Annual Return GSTR 9 whose last date has been extended to 30th june 2019. Indirect Tax Team of ICAI Releases FAQ on GST Annual Return. These FAQ’s have been drafted by CA Hiren Pathak and reviewed by CA Subham Khaitan. Q1. What is Legal […]
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