Under GST regime, separate returns namely GSTR-1 & GSTR -2 respectively were designed for reporting of sale and purchase details. But due to teething problems under GST law, GSTR -2 did not materialised since its inception. Also,initially GST law makers had plan to introduce GSTR-3 which obviously could not be possible in the absence of…
Category: GST related services
Applicability of IGST on goods transferred / sold while being deposited in a warehouse
As a common practice while importing goods, the goods shall first land to custom bonded area then transfer or sale of such goods occur from that area. As a trade practice importer files an into-bond bill of entry and stores the goods in a customs bonded warehouse and thereafter, supplies such goods to another person…
Can an inspecting authority change the declaration made by consignor/ consignee/ transporter regarding the details of goods covered by e-way bill?
For movement of goods across India, GST law provides a mechanism for generation of e-way bill (EWB) number electronically. E-way bill is a document/number to be carried by the person-in-charge of conveyance. The provisions related to the generation and non- applicability of e-way bill has been laid down in GST law. The same are updated…
Shelter of section 142 (3) cannot be taken to prevent lapse of CENVAT
Earlier under the era of Excise Duty & Service Tax, taxes paid on inward supply of goods & services were considered as CENVAT credit. GST consolidated both the above stated taxes into one. As such, transition provisions under GST Act,2017 explicitly stated the treatment of CENVAT credit. The intention of the law makers that no…