The concept of E-way bill has been introduced under GST regime on similar lines of “way-bill” in the erstwhile tax regime. It is a mechanism to ensure that goods being transported comply with the GST Law and serves as an effective tool to track movement of goods. Meaning of E-Way Bill E-Way Bill is a…
It is the duty of every registered person to comply with proper law, provisions & rules, which ensures proper and smooth implementation of GST. It is important to ensure whether goods are being transported as per GST Law and for safeguarding the same, provisions of “E-Way Bill” comes into light. It is a proper mechanism and…
The objective of introduction of Goods and Services Tax (GST) was to simplify the process of indirect taxation. However, despite the relative simplification from the previous tax regime, GST is still in its nascent stages. In other words, there are still some cloudy areas in the GST regime. Department is continuously making changes in the…
Will it resolve monthly Compliances Ailment? In India, tax laws have always favoured small businesses as they constitute a major portion of country’s growth and GDP. With the introduction of GST, taxpayers need to file monthly return i.e. GSTR-3B, which comprises of details of outward and inward supplies. Any delay in the filing of return…
Process of Generating and Cancelling an E-Invoice In continuation to our previous blog on E-invoicing under GST, in this blog we’ll be covering the process of how to generate an e-invoice through different modes such as off-line facility, Direct API integration and API integration through GSP. Also, we’ll be discussing how to cancel valid e-invoice…
When it comes to meeting tax obligations, homebuyers along with property taxes, also have to pay the applicable GST on their property purchase. Over the last few years, several changes have been made to the GST regime directed towards the real estate sector. Potential investors and homebuyers must scrutinise the implications of GST on real estate to…
In pursuance to the 39th Council meeting held on 14th March 2020 to enhance the facilities at GST portal and giving ready-made ITC statement to the taxpayers to file GSTR-3B, GSTN has launched GSTR-2B at the GST Portal. A new statement all together has come out as GSTR 2B, data of which would be auto-populated…
Uninterrupted and seamless chain of input tax credit (hereinafter referred to as, “ITC”) is one of the key features of Goods and Services Tax (GST). One of the most important features of the GST system is that the credit of tax paid at every stage would be available as set-off for payment of tax at…
The sight that first comes to the mind while thinking of restaurant service is that of mouth-watering meals, leisure & comfort. But understanding the taxability of the same has been a tedious & topsy-turvy task to accomplish. Restaurant Arestaurant is a place of business where food is prepared in the premises and served based on…
Paver block can be defined as a stone-based road-building material in the form of blocks of solid rock commonly used for creating a pavement or hardstanding. Advance ruling was sought by applicant M/s Sundharams Private Limited u/s 97 of CGST Act and Maharashtra SGST Act in respect whether the taxes paid on purchase of paver…
