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The most effective word in the world would be Free and the another closer would be Discount. Since people like to feel that they had saved money while doing a purchase of goods or claiming services at a discount and would go with a good deal. You too felt good when you bought the food […]
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 […]
No GST shall be applicable to the government incentives provided to the banks for motivating the practice RuPay debit cards and low-value BHIM-UPI transactions, under the finance ministry. The cabinet ministry has authorized a Rs 2,600-crore incentive program for banks to facilitate RuPay debit cards and low-value BHIM-UPI transactions in the current year. “As recommended […]
Free Samples would be called the products furnished to consumers to try prior to buying. Furnishing free or sample products would be the tried and tested marketing technique the industries use in India like FMCG, pharmaceuticals, and others. For instance, Buy 3 and get 1 Soap free or 1 Garment free on buying the 3 […]
The exporters would be qualified for the recovery of the utilized ITC of GST beneath the Reverse Charge Mechanism on transportation costs to the Goods Transportation Agency, said Authority for Advance Ruling (AAR) of Chhattisgarh. Under the Letter of Undertaking (LUT), the petitioner would be enrolled as an exported under the GST Act and would […]
The Tamil Nadu Authority for Advance Ruling (AAR) ruled that the petitioner, VBC Associates does not qualify for a claim of Input Tax Credit (ITC), under Section 17 (2) of the CGST /TNGST Act read with Rule 43(a) of CGST /TNGST Rules 2017, on the Goods/Services utilized in the installation of Solar Power Panels, which […]
What is GST Rule 88C? The Achilles’ heel of GST has always been the mismatch in GSTR-1 and 3B. There have been several cases when ITC was transferred by the supplier via GSTR-1 even though taxes had not yet been refunded via GSTR-3B. While some of the discrepancies in GSTR-1 and 3B relate to tax […]
The Goods and Services Tax Network (“GSTN”) has allowed the operation to file a Letter of Undertaking (“LUT”) for the FY 2023-2024 on the GST Portal. Under rule 96A, the letter of Undertaking or LUT would specify to be filed via form GST RFD 11 in which the exporter shows that he or she will […]
The Chhattisgarh Bench of the Authority for Advance Rulings (AAR) has declared that the 18% Goods and Services Tax rate applies to BENQ 75-inch Interactive Flat Panel Screens utilized for Data Processing. The authority, comprised of Sonal K Mishra and Rajiv Kumar Agrawal, further highlighted that the same will attract 28% if other tasks other […]
