The government has amended the CGST Act 2017 vide CGST Amendment Act 2018, one of the most important change is the new order to set-off GST credit, w.e.f 1st February 2019. According to this new rule, IGST credit shall be fully utilized before utilizing the credit of CGST and SGST. Impact of amendment Rules…
In the month of October 2018 the GST collection was above the 1 Lakh Cr. Mark and ” after a gap of 2 months, GST collections in January crossed Rs 1 lakh Cr.-mark,” the Finance Ministry said on Thursday. “The total gross GST collected revenue in the month of January 2019, has surpassed 1…
The government has published below amendment in the act through official Gazette on 30 August 2018. However, it is going to be applicable from 1st February 2019. Important Changes in CGST ACT 2017 You can find some of the important changes made in CGST ACT 2017 through CGST Amendment Act 2018, which is going…
As an enterprise or logistics head, does the question on delivery challan arises in your mind too? Then this article will provide all the answers to your question right from the beginning. The scope of this content includes What is a Delivery Challan? Difference between Invoice and Delivery Challan The format of a Delivery Challan…
Goods and Services Tax (GST) has made claiming Input Tax Credit (ITC) a lot simpler. However, there are certain conditions which must be fulfilled before claiming Input Tax Credit (ITC). The topics covered in this article are: What is Input Tax Credit? Conditions to Claim ITC Situations when ITC Cannot Be Claimed 1. What…
In our continuous efforts for providing highly effective and flexible GST compliance solution to leading enterprises in India, we are delighted to join hands with HSIL (Hindware) for solving their GST & E-Way Bill compliance worries. Masters India will be delivering a GST compliant solution which will eliminate error probability by replacing manual efforts,thus, providing…
GST has become one of the most common terms in the taxation system since its recent release in India. The full form of GST is Goods and Services Tax. Read on to know about what GST means around the world and its implementation in India. The topics covered in this article are: What is GST?…
As per Schedule 1 of GST, some specified transaction between the related person for no consideration shall be treated as supply under GST. The normal GST provisions are applicable to these supplies too. Generally, the supply is between the related person that may be between a principal and agent or agent and principal etc. As…