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Section- 2(13) of the CGST Act defines Audit as the examination of records, returns and other documents maintained or furnished by the registered person under the Act / rules made there under or under any other law for the time being in force to verify the correctness of turnover declared, taxes paid, refund claimed and input tax
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The 29th GST Council meeting chaired by Union finance minister Piyush Goyal was held at New Delhi on the 4th August, 2018. The meeting was aimed to address the issues of the Micro, Small and Medium Enterprises (MSMEs). Key decisions taken by council in the meeting Incentivizing digital transactions Federal indirect tax body the GST Council, keeping
Learn MoreServices provided by the Central Government, State Government, Union territory or local authority to a person other than business entity, is exempted from GST. So, Property Tax, Water Tax, if collected by the RWA/Co-operative Society on behalf of the MCGM from individual flat owners, then GST is not leviable. Similarly, GST is not leviable on
Learn MoreLet’s look at the critical provisions of the GST law which have enabled reverse charge mechanism :- Compulsory Reverse Charge even if the supplier is registered – Sec 9(3) The Government may, on the recommendations of the Council, by notification, specify categories of supply of goods or services or both, the tax on which shall
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The first return of GST is here and is due for filing is 20th of August, 2017. Points to remember for filing the first GST Return GSTR-3B. It is Mandatory to file GSTR-3B and there is no exemption from filing GSTR-3B even if no business is carried in the month of July’2017. NIL GSTR-3B is
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