Are e-way bills required to be issued for imports and exports as well? Since imports and exports have been considered as inter-state supplies under the GST act, the e-way bill is required to be issued for these transactions as well. For imports, the e-way bill will be generated by the importer. The exporter is liable to … Read moreE-Way Bills for Imports and Exports
Goods and Service tax council (“GST Council”) in its 27th GST Council Meeting held on 4th May 2018 finally approved the filing of new return based on the recommendations of the Group of Ministers on IT. The new recommendations are likely to simply compliance under GST. The key feature of new return is as under: 1. Periodicity: … Read more27th GST Council Meeting – Latest GST Updates
GST Council had its 26th GST Council (Goods & Services Tax) meeting held today under the chairmanship of the Union Minister of Finance and Corporate Affairs, Mr. Arun Jaitley on 10th March 2018 held in New Delhi. In today’s meeting, the GST Council has decided to extend the existing system of GST return filing with 3 more months, precisely … Read more26th GST Council Meeting – Latest GST Updates
While generating E-way Bills there are few items which are required every time like HSN, Product Details, Transporters Details etc. Entering this details every time to generate E-way Bill is Cumbersome. The E-way Bill portal facilitates the user to create and manage their own business related masters. Masters simplifies the data entry while generating the … Read moreHow to manage Masters on E-Way Bill Portal?
Applicability of Interest under GST:- SR.NO PARTICULARS SECTION GOVERNED INTEREST RATE (P.A) 1. Payment of Tax After Due Date 50(1) of GST Act 18% 2. Contravention output tax liability of the recipient in the return(Input Tax Credit has been claimed in excess or where it was not eligible to be claimed) 50(3) read with Section … Read moreInterest Rates Under GST Act
If the transporter is not registered under GST, he has to obtain transporter ID from e-way bill portal for generating the e-way bills. What is transporter ID? Transporter ID is a unique identification number allotted to transporters not registered under GST. Transporter ID consists of 15 digits. Why is transporter ID required? Transporters have to … Read moreWhat is Transporter ID in E Way Bill and How to Enroll?
E-way bill is required for movement of goods from one place to another. In some situations, there is no need to issue the e-way bill. Cases where e-way bill is not required If exempted goods are transported. If goods are transported in a non-motorised conveyance. If goods are transported from port, airport, air cargo complex … Read moreList of Goods Exempted from EWay Bill
Government has initiated the trial of E-Way Bill System from 15th January 2018 for generation of e-way bill for both Inter and Intra-state movement of goods. The system is expected to be rolled-out soon, making it mandatory for Organizations & Transporters to Generate E-Way Bill according to the GST law and in compliance with the Rule … Read moreHow to Generate E-Way Bill on E-Way Bill Portal?