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Businesses nowadays are implementing fresh and creative promotional strategies to draw in clients. Making room for a new firm or even surviving in the market has become difficult due to growing competition. But under the indirect tax regime, tax implications have been a contentious issue and are crucial for the implementation of such schemes. The […]
The GST on paratha has been a hotly debated topic for Indian customers. Due to their varied compositions, roti and paratha are subject to various GST rates. In this post, let’s examine the specifics of the CBIC GST rate and the GST on the paratha. Why is the 18% GST Rate on Paratha While Roti […]
The Hon’ble Kerala High Court in Pappachan Chakkiath v. Assistant Commissioner & Anr. [WP(C) NO. 816 of 2023 dated January 11, 2023] ruled that if the time restrictions for issuing the order under Section 73(10) of the Central Goods and Services Tax Act, 2017 (“the CGST Act”) for the Fiscal year 2017-18 is postponed till […]
The Telangana Authority for Advance Ruling (AAR), which is presided over by S.V. Kasi Visweswara Rao and Sahil Inamdar, decided that paper-based corrugated sheets are subject to a 12% Goods and Services Tax (GST). The matter was submitted by the applicant M/s. S S R K Plastics Private Limited, producers of paper-based corrugated sheets in […]
Summary of GST PMT-06 Challan Form A single challan called Form GST PMT-06 is used to pay interest, taxes and penalties. This challan can be created online through the GSTN official portal, where you can also make payments and get immediate receipts. If you are registered for the QRMP scheme, you must use this challan […]
It is essential for the registered individual to issue the tax invoice before or during the removal of goods for the supply of the recipient. To supply the services, the GST invoices could be provided prior to or post to the time of supply. Moreover, the e-invoicing system would have been executed within the phased […]
Scrutiny notifications and intimations have been circulated recently, suggesting that the department is requiring taxpayers to reverse the excess input tax credit claimed in Form GSTR 3B as compared to credits shown in GSTR 2A. How reliable are such communications? Is the taxpayer compelled by law to reverse such credits? We shall go over the […]
The Telangana Authority of Advance Ruling (AAR) ruled that an 18% GST would be levied to renting immovable property to an Educational Institution which was enrolled under section 12AA of the Income Tax Act 1961. The petitioner M/s. Bollu Siva Gopala Krishna asks for an advance ruling on the problem of whether the rental of […]
The main motive is to write this article to shortlist some basic and important GST questions with answers for businesses. These questions are very common and taxpayers might be stuck when working for GST compliance. Question 1: Does GST Apply to Education and Allied Services? Answer: A person runs a bus transport service in which […]
