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2019

Rules related to Threshold Limit for GST Registration

Due to continuous amendments in GST Act since it came in force in July 2017, there is lot of confusion regarding threshold limit for registration under the Act. A dealer can charge GST on the outward supply only if he is registered under GST. There are certain provisions under GST which makes it compulsory for the dealer to register under GST in certain cases. The most important criterion for registration under GST is threshold limit of the turnover. However, due to amendments in rules related to threshold limit, there has been lot of confusion. In this article we will zero-in on this matter.

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2019

GST on Charitable Institutions

Activities carried out by Charitable Institutions are mostly not-for-profit in nature. However, certain transactions undertaken by charitable institutions may fall under the definition of supply as defined by GST Act. Hence, it creates lot of confusion whether charitable institutions are covered under GST and whether they have to register under GST or not. It is important to scrutinize the transactions of charitable institutions to determine whether there is any applicability of GST.

2019

35th GST Council Meeting Highlights

The 35th GST council meeting was held on 21st June 2019 at New Delhi. Here are the key highlights of the recommendations of the GST Council.

1. Extension of Certain Due Dates:

  • Certain due dates have been extended as follows:

2019

FAQs on Form GSTR 2A

Q1. What is Form GSTR-2A?

  • Form GSTR-2A is return filing form which is generated by the system for a receiver taxpayer as the draft statement of inward supplies.
  • Form GSTR-2A is auto-populated by the data which was entered in the following forms of all suppliers or counter-party taxpayers of goods/services in a given tax period: GSTR-1, GSTR-5, and GSTR-6 (ISD); GSTR-7 (TDS); and GSTR-8 (TCS).
  • When all these auto-populated details are uploaded on the portal by the counter-parties, this form is created for the taxpayer.
  • This form is then updated for the taxpayer as and when the suppliers change or upload the details in their GSTR-1 forms during the tax period. When a supplier files his/her returns, his/her auto-populated details will be frozen to be edited or deleted.
  • The taxpayer can view his/her GSTR-2A form for the tax period till s/he filed the returns in form GSTR-2.

2019

GST Rates applicable to Accommodation Services and Restaurants

Introduction of GST has benefited the hospitality industry due to standardized and uniform tax rates, and easy and better utilization of input tax credit. GST abolishes several taxes, leading to a reduction in procedural steps and easy availment and utilization of input tax credit. Under the GST regime there will be only a single charge on the bill and it would give the customers a clear picture of the tax they are paying.

2019

Amendment in E mail ID Mobile Number of Primary Authorized Signatory on GST Portal

  • Tax Payers have registered in GST Regime either as migrated category based on provisional ID provided based on existing registration (VAT/Service Tax/ Excise, etc) or have obtained fresh registration post commencement of GST.
  • In many cases they have obtained the assistance of tax professional or have registered on their own.
  • While obtaining registration number or enrolling they provided email id or mobile number which may require to be changed now since they have changed the professional, employees have left the organisation whose details were provided.
  • It becomes a cumbersome process to change the mobile number or email id of primary authorized signatory on GSTN Portal.

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