Since the implementation of GST, it has been clear that health care services provided by an authorised medical practitioner or para medics through a clinical establishment are exempt vide Notification No. 12/2017-Central tax (Rate) dated 28-06-2017. But there have been certain grey areas in health care services regarding the availability of Input Tax Credit (abbreviated…
Ever since the enactment of GST, there are many contentious areas that still need clarification. It includes areas like taxpayers have no certainty over the tax liability which may arise in the future or applicability of various provisions of law and related notifications. These ambivalences may lead to long drawn and expensive litigations at a…
The Central Board of Indirect Taxes and Customs (CBIC) in India has introduced new rule 86B in CGST (Central Goods and Services Tax) Rules vide notification number 94/2020 dated 22.12.2020. The rule 86B became effective from 01.01.2021. As per the stated rule, a registered person shall not use the amount available in electronic-credit ledger to…
An insight has been provided to the readers how one can safeguard against unwanted demand notice from tax authorities or unwanted issues that may arise from errors in GST compliance that are committed unknowingly. It is to be kept in mind that escaping from small obligations today might one day turn into hardships and heavy…
There are various topics which can be seen as debatable since the implementation of GST as each one of us have our own set of interpretation therefore such areas are considered to be inconclusive. An effort has been made to bring clarity on such equivocal topics and update with recent changes which are relevant for…
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…
