GstTak

INTRODUCTION:- The Government of India has specified the due dates to pay Goods and Services Tax. The due date to pay GST is different for different types of taxpayers. If one fails to pay GST within the due date, one must pay the interest along with the GST dues for the delay period.   RELEVANT SECTION & RULE:- Section:- Section 50 of CGST Act, 2017 Rule:- Rule 88B of CGST Rule, 2017.   CIRCUMSTANCES WHEN INTEREST TO BE PAID:- 1)        Interest related to GST on sales. (Section 50(1)) ·         Fails to pay such GST within the period as prescribed by GST Act, 2017 and Rules. ·         Makes short payment for the GST.   2)        Interest related to ITC. (Section 50(3)) ·         Wrong ITC availed AND Utilized. ·         ITC availed AN...

  INTRODUCTION:- Transportation is a vital part of the economy as any problem in transportation disrupts the entire business channel. This is why any petrol price change has a far-reaching effect in disruption of business. In India most popular form of transport is via road. There are Three type of persons who are engaged in transport of Goods by Road. 1)      Normal Transporter (Who does not issue Consignment Note). 2)      Goods Transport Agencies (Who are issue Consignment Note). 3)      Courier Agency.   EXEMPTION:- Serial No. 18 of Notification No. 12/2017- Central Tax (Rate)_28.06.2017 provide the following exemption. Services by way of transportation of goods by road except the services of, 1)      A goods transportation agency. 2)      A courier agency.   From the above exemption it can be concluded that GTA Services are taxable and hence w...

  FORM GSTR - 9] 49 ] 50 [See rule 80] Annual Return ( Taxpayers cannot claim input tax credit through this return)   Pt. I Basic Details 1 2 3A   3B Financial Year   GSTIN   Legal Name   Trade Name (if any)   Pt. II   Details of Outward and inward supplies made during the financial year (Sales as per Financial statement should be disclose, Even if not disclosed in Form 3B & GSTR1)     bles) Nature of Supplies Taxable Value Centra l Tax State Tax / UT Tax Integrat ed Tax Cess 1 2 3 4 5 6 4 ...