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2019

FAQs on GST Annual Return GSTR 9

GSTR – 9 is an Annual Return to be filed by the registered taxpayers under GST. It consists of details regarding the supplies made and received during the year under different tax heads i.e. CGST, SGST and IGST.

In 31st meeting of GST Council held on 22nd December 2018 GST council recommended further extension for filing of GSTR-9 up to 30th June 2019 for financial year 2017-18 and same was extended by CBIC Order No. 03/2018-Central Tax dated 31st December, 2018. Here are some Frequently Asked Questions related to GSTR 9.

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2019

GST COMPLIANCE CHECKLIST BEFORE FILING GST RETURNS 

Few weeks ago we discussed about To Do List for accountants before 31st March. In this article we are going to focus on GST related compliance requirements to be fulfilled till 31st March 2019. Every accountant must keep in mind certain things before filing GST Return for March 2019 including GSTR 1 and GSTR 3B. This is critically important because of some compliance deadlines. In this article we have tries to cover these points.

2019

Suspension of GST Registration

The insertion of the provisions relating to the suspension of GST registration is a welcome step for the GST registered taxpayer. With the insertion of suspension provisions, all those taxpayers who have applied for cancellation of GST registration would be relieved from the continuous compliance burden under the GST law during the period when the cancellation proceedings are in process.

2019

Key points for Tour Operators Travel Agents Registered under GST

Major Source of Income of Tour Operator & Travel Agents:

  1. Commission from Airlines’ & any mark up amount from passengers.
  2. Sale Tour Packages, both inbound and outbound.
  3. Travel Related Services like Visa, Passport etc.
  4. Commission from Hotel / Cruise.
  5. CAR Rental Services, Travel Insurance.
  6. Railway Reservations.

2019

GST Input Tax Credit Set Off Rules applicable from 012F022F2019 

As per CGST Amendment act 2018, the set off rules has been changed. The updated rules are presented with examples as follows:

The criteria for setting off of Input Tax Credit (ITC) has been changed under GST through Central Goods & Services Tax (Amendment) Act 2018, which has been made effective from 1st February 2019.

2019

Input Service Distributor in GST

An ‘Input Service Distributor’ is an office of the supplier of goods or services or both which receives tax invoices issued under Section 31 towards the receipt of input services and issues a prescribed document for the purposes of distributing the credit of CGST, SGST, IGST or UTGST paid on the said services to a supplier of taxable goods or services or both having the same Permanent Account Number as that of the said office. Here we have discussed some Frequently Asked Questions on Input Service Distributors.

Financial Management