Assessment Under GST

New standard procedures issued by the CBIC requires the proper officers to issue a notice under GSTR-3A within 5 days of due date of return. As per Section 46 of CGST Act, a period of 15 days is to be given to taxpayer to file returns. If the taxpayer still

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Inverted Duty Structure under GST

Introduction The GST Act does not define anything like Inverted duty structure. The term ‘Inverted Tax Structure’ refers to a situation where the rate of tax on inputs purchased (i.e. GST Rate paid on inputs received) is more than the rate of tax (i.e. GST Rate Payable on outward supplies) on outward supplies. Example:

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GST on Rent of Shop, Offices, Flats, Land etc.

In this article, we will discuss about the applicability of GST on Rental Income from renting the commercial property as well as residential property, and we will also see various examples on inter-state and intra-state transactions. Applicability of GST on Rent The basic definition of outward supply includes rental income

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GST on Cab and Taxi Services

Introduction As per the GST Act, Cab services are taxable services. When services are provided via cab aggregators like Ola or uber then also GST is chargeable. However, metered taxi and auto rickshaws are exempt from GST including Ola Auto. In this article, we will try to cover every point

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Everything about GST on Online Sellers of Amazon, Flipkart etc.

A trader is required to get registered under GST to be able to sell on amazon, flipkart, meesho, udaan, snapdeal, shopclues and similar platforms. Here is a complete guide for persons who want to sell goods on any of these platforms. GST rules are different for persons who provides services

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Deferred Payment or Payment in Instalment of GST Demand

A taxable person can apply to the commissioner under Section 80 of CGST Act for extension of time for payment of GST, Interest, Penalty or any amount under GST.  The taxable person can also apply for payment in instalments. The main condition is that such GST or other amount should

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GST on Job Work

As per Section 2 (68) of CGST Act “job work” means any treatment or process undertaken by a person on goods belonging to another registered person and the expression “job worker” shall be construed accordingly. Registration (Section 22) The supply of goods after completion of job work, by a registered

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Beginner’s Guide to GST

Beginner’s Guide to GST This guide is for businessmen and students who wants to have a basic working knowledge of GST. The guide is arranged in a logical manner and written in easy to understand language. We recommend to read chapters one by one but feel free to jump the

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GST on Import

Article 269A of constitution mandates that import of goods or services in India is considered as Inter-state trade. Therefore, import of goods or services is considered as interstate supply and is liable for payment of IGST. IGST on the import of services would be leviable under the IGST Act, the

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GST on Co-operative Housing Society

What is Co-operative Housing Society Co-operative housing societies are the entities registered under the co-operative laws of the respective state and which provide its member’s amenities and services relating to housing. In simple words, it is a collective body of persons, who stay in a residential society and would be

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