GST

GST on Hotels – A Complete Guide

Services provided by the hotel is a taxable service in GST.  The place of supply will always be the state/union territory where the hotel is located even if the guest is a registered person and has GSTIN of another state. Therefore, a hotel has to charge SGST and CGST always.

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Composition Scheme for Service Providers in GST

Introduction Composition scheme under GST law is for small businesses. This is to bring relief to small businesses so that they need not be burdened with the compliance provisions under the law. An option has been provided to the eligible taxpayer who can opt to pay a fixed percentage of

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GST Returns – Types of Return, Due Dates, How to File

Which GST Returns are required to be filed? (From 1st January 2021) A registered person is required to file following returns: GSTR-3B (Quarterly or Monthly) GSTR-1 (Quarterly or Monthly) GSTR-9 (Annual Return) Along with these returns, there are two forms IFF and PMT-06 which can be filed by persons filing

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Refunds under GST

A person can make an application for refund of GST before expiry of two years from the relevant date in such form and manner as may be prescribed. Such refund may be claimed in the return filed in regular manner by the taxable person if refund is related to credit

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E way bill – The Complete Guide

Rule 138 of CGST Rules defines the provisions of e-way bill. The provisions of this rules is applied by various states on different dates. The penalty on non-compliance of provisions is still not yet declared by Government. Conditions in Which E-way bill is required or Not Required A registered person

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Reverse Charge under GST – Explained with Examples

What is Reverse Charge? Normally, GST is to be collected by the person who is selling good and services. But in some cases GST is to be collected by the purchaser of goods/service and not by seller. This is called Reverse Charge Mechanism, RCM in short. In some cases of

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How to Surrender your GSTIN

A new functionality has been introduced on the GST portal for the surrendering of GST Registration. If you want to cancel your GST registration, follow below steps: – Step 1: Login into your account on GST.GOV.IN Step 2 : Go to Services >> Registration >> Application for Cancellation of Registration

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Composition Scheme under GST for traders/manufacturers of goods

As per the GST law, generally a taxpayer pays tax under normal rates i.e 5%, 12%, 18%, 28% and avails cenvat credit on inputs, input services and capital goods. The balance tax payable after claiming the cenvat is paid in cash to the government. Using this method all the procedural

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Input Tax Credit (ITC) under GST

What is Input Tax Credit (ITC) Input Tax Credit refers to the tax already paid by a person at time  of purhase of goods ro services and which is available as deduction from tax payable . For eg-  A trader purchases good worth rs 100 and pay tax of 10%

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How to Resolve Error in GSTR-3B

GSTR-3B is required to be filed every month by all taxpayers till 20th of the next month. Although this is a relatively easy form and there is less scope for mistakes. But a mistake in calculating the sales, purchases, input and output taxes is very common. Many a time the

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