The Central Government exercising the powers conferred by section 164, has made an amendment to CGST Rules 2017 ,which is termed as CGST (Fifth Amendment) Rules, 2019. Rule 12 (1A): Grant of registration to persons required to deduct tax at source or to collect tax at source- A person applying for registration to [deduct or]* collect…
GST was implemented with several unique provisions which intended to reduce the complexities of pre-GST era. One of such provision stated in rule 46 of CGST rules, 2017 which conferences about unique series of invoice under GST. As per law,a valid invoice is required to claim ITC absence of which results is inadmissibility of credit….
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…
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…
