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GST

Auto Calculation of Route Distance for Generation of E-Way Bill

Electronic-way Bill – associate electronically generated document that is needed to be carried for movement of products price extraordinary Rs fifty,000. The validation of e-way bill is for a definite time-period, supported the sort of merchandise being transported and therefore the distance between supply and destination. Distance between supply and destination was perpetually major issue whereas making E-way bill among alternative issues. Now, E-waybill system is being enabled to machine… Read More »Auto Calculation of Route Distance for Generation of E-Way Bill

Refund of Accumulated Input Tax Credit of Compensation Cess

The calculation of compensation Cess under GST is very similar to calculating GST. Compensation cess is applicable above the amount of GST charged on a specific good or service. The stipulated rate is applied to the transaction value given under CGST Act 2017- section 15. According to this act, the centre needs to compensate the states for loss of their revenue due to the execution of GST because GST is… Read More »Refund of Accumulated Input Tax Credit of Compensation Cess

Interest Payable on Gross GST Liability, as Declared in GSTR-3B

Interesting fact about GST is that the interest under GST is calculated on gross liability. The provision of interest on late payment of GST liability is prescribed in section 50(1) of CGST Act, 2017. The provision is reproduced hereunder for convenient reading. Section 50(1) states that Every person who is liable to pay tax as per the provisions of this Act or the rules made thereunder, but fails to pay… Read More »Interest Payable on Gross GST Liability, as Declared in GSTR-3B

GST Rate on Supply of Food and Beverage Service by the Educational Institution

There is a doubt raise by two self-contradictory notifications which are Notification No. 11/2017-Central Tax (Rate) and Notification No. 12/2017- Central Tax (Rate) dated 28.06.2017 Sl. No 66. This doubt is regarding the GST on Supply of Food & Beverage service by the Educational Institution to its students and the same is clarified in the current circular. A doubt comes that whether supply of food and beverages services by educational… Read More »GST Rate on Supply of Food and Beverage Service by the Educational Institution

All about the additional place of business in GST

APOB aka Additional Place of business is the place of business where taxpayer accomplish business related activities within the State, in addition to the PPOB (Principal Place of Business). A supplier needs to register in each state from which he is supplying goods or services. In other terms, if a supplier has their business branches in different states – he/she would be required to take separate registration for each of… Read More »All about the additional place of business in GST

GST On Various Programmes Being Conducted By The IIMs

Students of 1 year MBA for Executives & other programs leading to a management degree at the Indian Institutes of Management (IIMs) will get benefit from the tax exemption given by the GST Council as IIM Bangalore has secured exemption from Goods and Services Tax (GST) for all programs which are of long duration including the one year full-time MBA (EPGP). IIMB has been given an exemption from GST for… Read More »GST On Various Programmes Being Conducted By The IIMs

Taxation of Director Remuneration under GST

Directors’ remuneration termed as the compensation the company gives to its directors for the services rendered. This can be done via fees, salary or by use of a company’s assets. The remuneration paid to Directors is issued only on getting approval from shareholders and the Board of Directors.  A director can be:- Executive Director non-executive Director Managing Director (MD) Independent Director Small Shareholder Director  Women Director Additional Director  Alternate Director … Read More »Taxation of Director Remuneration under GST

GST and Income Tax Implication on Non-Resident Sportsmen Coming to India

When a non-resident sportsman comes to India for participating in any game or sport then a question arises which country has right to charge tax on such income earned by sportsmen by participating in game or sport and what are the tax implications on such income earned. What is Section 115BBA? This section provides a special tax rate at the rate of 20% (plus EC and SHEC), Plus Surcharge as… Read More »GST and Income Tax Implication on Non-Resident Sportsmen Coming to India

GST on Tour & Travel Services

GST comes under the category of indirect tax which is levied on the supply of goods & services of different kinds. The travel agent or travel agency service provider are also under the GST ambit.  A travel agent offers services related to planning, booking, and managing tours to their customers. The services include-booking air/rail accommodation, cab hire, accommodation, sightseeing etc. provided by a travel company. A tour operator or agent… Read More »GST on Tour & Travel Services

All About E-Way Bill

E-Way Bill aka Electronic waybill is a unique document or bill that is electronically generated for the specific consignment of goods from one to another place, inter-state or intra-state. E-way bill is generated at the time of the transport of goods by every registered person if the value of the consignment exceeds INR 50,000. The e-way bill has been made essential: – For inter-state supplies – from April 1, 2018… Read More »All About E-Way Bill