GST Duniya

Part – 13 : GST 3B – Filing Procedure

GSTR 3B is a return form need to be file for month of july and august. In GSTR 3-B,we do not have to provide invoice level information. Only total value for each field need to be file.GSTIN holder need to file GSTR 3B upto 20th august for month of july. Please note that now this date is extended to 25th august. GSTIN holder need to file GSTR 3B upto 20th September for month of august. Those who want  to claim benefit [...]

GST DUNIYA – 12, TEXTILE SECTOR

GST on Textile industry Hope you had read the previous parts of the GST Duniya series, if not, then read it from here: Part 1  Part 2 Part 3 Part 4 Part 5 Part 6 Part 7 Part8 Part 9 Part 10 Part 11 As we all have watched in news and nearby areas that textile industry is very much affected with GST regime. It is expected that tax burden is going to increase on textile industry. In this article,we will discuss about GST on Textile industry. There are so many points which are [...]

GST DUNIYA. Part 11 – (Taxation of E-Commerce Business)

GST on E commerce Sellers Hope you had read the previous parts of the GST Duniya series, if not, then read it from here: Part 1  Part 2 Part 3 Part 4 Part 5 Part 6 Part 7 Part8 Part 9 Part 10 First of all,lets understand the meaning of E commerce sellers;: E-commerce sellers means sellers selling their products to customers via internet. E commerce business is growing rapidly in modern world i.e. world of technology. E commerce websites are gaining trust of customers and it is normal phenomenon now a days to [...]

GST DUNIYA. (Part – 10)

GST on Restaurant services Hope you had read the previous parts of the GST Duniya series, if not, then read it from here: Part 1  Part 2 Part 3 Part 4 Part 5 Part 6 Part 7 Part8 Part 9   Today we will discuss about GST on Restaurant services GST on restaurant services: We all know that most of us are very much fond of eating in restaurants. So now under GST Regime as tax rates are changed,It is important for us to understand the rates levy on restaurants. May be [...]

GST DUNIYA. (Part – 9)

Hope you had read the previous parts of the GST Duniya series, if not, then read it from here: Part 1  Part 2 Part 3 Part 4 Part 5 Part 6 Part 7 Part 8 Today we will discuss about the Amendments in GST.   As we all know GST has been rolled out from july 1,2017. So for its better implementation, various meetings had taken place and some important decisions which were taken in these meetings are explained below: Update About Composition Scheme : Composition Levy (SECTION 10) In terms of section 10(1), [...]

GST DUNIYA. (Part – 8)

we are extremely sorry for the delay. There were some technical problems due to which we couldn't post the updates but now we are back in action. Hope you had read the previous parts of the GST Duniya series, if not, then read it from here: Part 1 Part 2 Part 3 Part 4 Part 5 Part 6 Part 7 Today we will discuss about Penalties and Prosecutions  in GST   Various Penalties and Prosecutions under GST regime are explained below: First of all there is a need to understand,why penalty imposes on [...]

GST DUNIYA. (Part – 7)

Hello Readers, Hope you had read the previous parts of the GST Duniya series, if not, then read it from here: Part 1 Part 2 Part 3 Part 4 Part 5 Part 6 Today we will discuss about Concept of supply  in GST Let’s start: Meaning and Scope of supply (Section 7) Supply includes all forms of supply of goods and /or services such as sale, transfer, barter, exchange, license, rental, lease or disposal for consideration. Consideration can be either in form of monetary consideration or non-monetary consideration.It means consideration can be [...]

GST DUNIYA. (Part – 6)

  Hello Readers, Hope you had read the previous parts of the GST Duniya series, if not, then read it from here: Part 1 Part 2 Part 3 Part 4 Part 5 Today we will discuss about Returns in GST Let’s start: Under the GST law, a normal taxpayer will be required to furnish three returns monthly and one annual return, It means total 37 returns need to be file in GST law.. Similarly, there are separate returns for a taxpayer registered under the composition scheme, taxpayer registered as an Input [...]

GST DUNIYA. (Part -5)

Hello Readers, Hope you had read the previous parts of the GST Duniya series, if not, then read it from here: Part 1 Part 2 Part 3 Part 4 Today we will discuss about the Transition Provisions in GST Let’s start: Transition Provisions Whenever a new levy or new scheme of taxation is introduced, it shall completely change the existing law with provisions of new law.Same is happening under GST where new provisions of GST complete change the provisions of Service tax,VAT,CST,Excise,etc So to cope up with that change, [...]

GST DUNIYA. (Part- 4)

Hello Readers, Hope you had read the previous parts of the GST Duniya series, if not, then read it from here: Part 1 Part 2 Part 3 Today we will discuss about the Composition Levy in GST Let’s start: Composition Levy (SECTION 10) In terms of section 10(1), a registered person whose aggregate turnover in the preceeding financial year did not exceed rs.50 lakhs, may opt to pay amount(note that it is not a tax which a person is required to pay),in lieu of tax payable in normal [...]

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