Previously we had discussed the new GST Rate in the real estate sector. And in this article, we will cover about TDR supply by the landlord. 1. Who is a developer? A developer or promoter is the person who develops a plot into apartments and promotes it for sale. 2. Who is a landowner? A…
The new Goods and Services Tax (GST) regime has brought with it several reforms to the indirect tax system, which affect firms doing business in our nation. One such change or transformation pertains to the introduction of the Reverse Charge Mechanism, and the taxation on import of services via Reverse Charge Mechanism (RCM). The…
The Goods and Services Tax Network (GSTN) issued an advisory on 4th April, 2019 inviting all taxpayers to Rule 46(b) of the CGST Rules, 2017. This rule states that the tax invoice issued by a registered person should be inclusive of a consecutive serial number with a maximum of 16 digits. It may be issued…
This post covers synopsis of 5 Recent and Important GST judgements. Hoping these judgements will help you to comprehend the handy issues rising in the GST regime in a superior manner. 1. Bharat Raj Punj versus Official of CGST Case: Input tax credit claimed deceitfully by the issue of fake inward invoices. Judgement: Arrested senior…
The introduction of the Goods and Services Tax (GST) greatly impacted the Special Economic Zones (SEZs). There have been various implications on SEZs after the introduction of GST. On the other hand, the government has provided various incentives and facilities to the SEZ, too. The following topics have been discussed in this article: What…
Every taxpayer under GST shall download Multi-month GSTR 2A periodically. This helps in doing regular reconciliation process to claim accurate Input Tax Credit together with errorless GST Return filing. This article covers the following topics: GSTR 2A Introduction Multi-month GSTR-2A Report use How Masters India GST software can help you? Pros of Multi-month GSTR-2A…
The applicability and procedure for filing Form DRC-03 is crucial to the taxpayer in the subject of filing returns properly. The conditions and steps for filing form DRC-03 online are explained in this article along with the time limit in which the form has to be furnished. This article discusses the following topics: About…
Lately, GST Council announced that there will be New GST Return Forms that will be applicable from 1st July 2019. These New GST Return Forms includes Normal (RET-1), Sahaj and Sugam. Moreover, to give a fair idea about these new GST Return forms they are now available on the GSTN. In this article, we will…