Input Tax Credit (ITC) Rules Change under GST Law from 1 Oct 2022 Strict Conditions to use the GST Input Tax Credit as of October 1, 2022. Central Board of Excise and Customs Allowed GST refund claim of any balance in the e-cash ledger w.e.f. Octob 1, 2022 Time Limit to avail GST ITC extended …
What Happened when Goods Vehicle Stopped during Transit? In case company truck loaded with goods can be stopped and intercepted midway during transportation by a Officer? The GST officer can demand the driver to Disclose Company Goods in Transit e-way bill copy. It is enough to have the e-way bill No & show that it …
GSTN has enabled the functionality to validate IRN or search IRN from the document number. https://einvoice.gst.gov.in/einvoice/search-irn You may useful above link to verify the genuineness of E-invoice bcoz otherwise ITC can be rejected. Penal Consequences for the non-Issuance of IRN or E-Invoice. Every registered Taxpayer under GST whose overall turnover for the financial year or …
GST will be levy on the cancelled of confirmed train ticket. According to a CBIC circular released (GST circular no. 11/2022) : Cancellation of confirmed railway tickets will now incur GST on cancellation fees for the specific class of travel. Why is mean of GST on cancellation? As per the CBEC of Tax Research Unit …
GST Council Meet Updates- Tax Rates revision approved What are changers made in 47th 47th GST Council Meeting? Tax Rates On Certain Goods And Services To Be Simplified By GST Council: FM. Following two 47th GST Council Meeting, the Finance Ministry said that the government would increase taxes on some goods and services from the …
FAQ’s – Parameters for GST Department Notice Q.: The GST department issues notices for return scrutiny depending on a variety of characteristics. Why is the department sending out these notices? Ans: GST Consultants give advice that Officer may analyse the return supplied by the registered person to check the correctness of the return and inform …
GSTR-9 & GSTR-9C for FY 2024-25 Made Simple The GSTN has released updated FAQs and enhanced system features for filing GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement) for Fiancial Year 2024-25. This year introduces major improvements in auto-population, ITC reporting logic, import treatment, and reconciliation formats, making compliance more data-driven and tightly linked to GSTR-2B. …
Brief about GST E-Invoicing & it’s applicability. It is mentioned under Rule 48(4) of CGST Act, in which the registered taxpayer companies is mandatory to make invoices, by providing or uploading json file of invoices on IRP (Invoices registration portal) and get an IRN (Invoice Reference Number) which contains a QR code. After going to …