Amended and updated notes on section 125 of CGST Act, 2017. Detail discussion on provisions and rules related to general penalty. Chapter XIX (Sections 122–138) of the Central Goods and Services Tax Act, 2017 deals with the provisions related to offences and penalties. Section 125 of CGST...
GST will be applicable in India from the 1-July-2017. We will be covering GST indepth, from Registration to its Computation and Returns. And how GST will impact us Basics Computation & Accounting Registration Challan, Return and Invoice Format Act and Rules Impact GST Practical Training News ...
GST rate for Vegetable Plaiting Materials Power of Government to make rules, CGST Act CGST Act, 2017 Power to make regulations CGST Act, Delegation of powers Service of notice in certain circumstances, CGST Act, 2017 CGST Act, 2017 Anti-profiteering measure Amendment of Act 32 of 1994, CGST ...
Yes, a bank account is mandatory for GST registration. As per rule 10A of the CGST Rules, 2017, the newly registered taxpayer has to furnish the banking details within 45 days from the date of registration approval or the due date of filing the first return, whichever is earlier. ...
July 1, 2021, is a very special day as the Goods and Service Tax Act was passed in the Parliament on 29th March 2017 and it came into effect on 1st July 2017. Thus, this day is not just celebrated as GST Day but also CA Day for honouring our hardworking tax professionals who have...
On 29thMarch 2017, the Government introduced the Goods and Service Tax to unify the state economies and enhance the country's overall economic growth. GST is a form of indirect tax that subsumes all other taxes. The GST Act became effective on 1stJuly 2017, and since then, GST has replace...
As per the rules, all the taxpayers will have to file an annual return form with GSTR 9 but now in an addition to the current rule, Section 35 of CGST Act, 2017, all those taxpayers having turnover exceeding 2 crores in a financial year will have to submit audited annual accounts alon...
GST treats exports of commodities or services as interstate supplies. Therefore, Section 24 of the CGST Act of 2017 mandates that all exporters of products register for GST. However, if a service exporter's annual turnover is less than the Rs 20 lakh exemption limit, the company isn’t need...
Every business operating in a state or Union territory is assigned a unique Goods and Services Tax Identification Number (GSTIN) PAN, state and entity details. Under the GST Act 2017, businesses and individuals have to register their business with the state authorities and obtain a unique 15-di...
GST is managed by the Goods and Services Tax Council and is governed by the Goods and Services Tax Act, of 2017. GST is levied on all types of goods and services except petroleum products, and electricity, on which the taxes are levied by the state governments. It is divided into two ...