Category «Good and Service Tax»

GST compliance on foreign currency exchange

GST compliance on foreign currency exchange Hi Reader, in this Article we will discuss about the GST compliance on foreign currency exchange. Foreign currency exchange is conversion of one country’s currency in another country’s currency. In India, Foreign Exchange Management Act, 1999 (FEMA) manage and responsible for foreign currency exchange transaction and Reserve Bank of …

GST Council 31st meeting recommendations

GST Council 31st meeting recommendations Hi Readers, in this article we will discuss the GST Council 31st Meeting recommendations. The GST Council in its 31st meeting held December 22, 2018 at New Delhi made the following major policy recommendations; once the same is approved by the GOM (Group of ministers) then the same will be implemented: …

GST September Return Checklist

GST September Return Checklist Hi Readers, in this article we discussed the importance of GST Returns filing for the month of September. We will also be checked and discussed the GST September Return Checklist. GST Return for the month of September is also important since after filing of September month GST return no one is …

Must know facts about Eway Bill

Must know facts about Eway Bill Hi Reader, in this Article we will discuss some must know facts about Eway Bill. 1 – E way is require for movement of goods with value more than Rs. 50,000, if the total Value of goods loaded in a single vehicle more than 50000/, then E-way bill will …

Transaction value Under GST with example

Transaction value Under GST with example Hi Readers, in this Article we read the concept of Transaction value under GST with examples. As we know that GST will be charges on transaction value. If transaction value is not correctly determined then GST will not be correctly calculated and deposited which cause unnecessary further burden to …

Must Know Valuation rule under GST with examples

Must Know Valuation rule under GST with examples Hi Readers, in this Article we read about must know valuation rule under GST with examples. As we know that GST will be charges on transaction value. If transaction value is not correctly determined then GST will be wrong calculated and deposited which cause unnecessary further burden …

Basis Concept of Reverse Charge Mechanism in GST

Basis Concept of Reverse Charge Mechanism in GST Hello Readers!  In this article, we will understand the Basis Concept of Reverse Charge Mechanise in GST. As we aware that generally supplier is liable to collect and deposit the tax to Government. However, under the Reverse Charge Mechanism Recipient of supply of Goods or Services is …

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