why do we eat food?

Nivth Kmk answered  •  3 weeks ago
It is basic needs of every human beings in the world..

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ITC defenition with example?

Priyanshu Tiwari answered  •  May 20, 2020
Input Tax Credit or ITC is the tax that a business pays on a purchase and that it can use to reduce its tax liability when it makes a sale. ... This makes flow of credit across an entire supply chain a seamless process.

How to file get return?

Priyanshu Tiwari answered  •  May 20, 2020
Visit the GST portal (www.gst.gov.in).

A 15-digit GST identification number will be issued based on your state code and PAN number.

Upload invoices on the GST portal or the software. ...

After uploading invoices, outward return, inward return, and cumulative monthly return have to be filed online.

Can we eligible for ITC pf GTA RCM 5%

Priyanshu Tiwari answered  •  May 16, 2020
We have been paying the Tax under RCM @5% for GTA service , whether we are eligible to take the Input tax credit of the same. Yes, you are eligible to avail ITC paid under RCM on GTA service after payment of tax, if the input service (GTA) is used in providing taxable supply.

Priyanshu Tiwari answered  •  May 16, 2020
Period of retention of accounts At the end of a financial year, the taxpayer must reconcile the books of accounts with the GST returns filed across the financial year. On comparing data between books and GST returns, any differences that arise must be adjusted in books or reported in GST returns filed subsequently.

What is the effect of gst in Indian agriculture?

Priyanshu Tiwari answered  •  May 16, 2020
GST would also help in reducing the cost of heavy machinery required for producing agricultural commodities. Under the model GST law, dairy farming, poultry farming, and stock breeding are kept out of the definition of agriculture. Therefore these will be taxable under the GST.

GST On E P C Contract of solar plant

Priyanshu Tiwari answered  •  May 16, 2020
Procurement and Construction (EPC) Contract for construction of a solar power plant wherein both goods and services are supplied can be constructed to be a composite supply in terms of section 2(30) of CGST Act, 2017. 1. ... The principle supply is solar power generating system and should be taxable @5%.

What is section 140(3 ) of Cgst act?

Priyanshu Tiwari answered  •  May 14, 2020
140(3) - Credit of eligible duties in respect of inputs held in stock allowed in certain situations.

A registered person, who was not liable to be registered under the existing law, or who was engaged in the manufacture of exempted goods or provision of exempted services, or who was providing works contract service and was availing of the benefit of Notification No.26/2012-Service Tax,
... more

Press relase 37 gst cpuncil?

Priyanshu Tiwari answered  •  May 14, 2020

The GST Council, in its 37th meeting held today at Goa, recommended the following: 1. Relaxation in filing of annual returns for MSMEs for FY 2017-18 and FY 2018-19 as under: a. waiver of the requirement of filing FORM GSTR-9A for Composition Taxpayers for the said tax periods; and b.

Please explain wether Gst on export services(Bpo services) will be there?l

Priyanshu Tiwari answered  •  May 14, 2020
NEW DELHI: The government said select business process outsourcing (BPO) services will qualify as exports and therefore won't be subject to goods and services tax (GST), marking a substantial relief for the country's $167 billion IT and ITES (information technology enabled services) sector.

Gst and forex fluctuations?

Priyanshu Tiwari answered  •  May 14, 2020
GST on exchange rate flutuation gain, Goods and Services Tax - GST. Sir Rule 34 states only about the valuation of the supply related to export which is related to foreign currency transaction. but this case is excess of the collection out of the supply made due to currency rate fluctuation.

The ct3 sales how to applicable in gst?

Priyanshu Tiwari answered  •  May 12, 2020
STPI or EOU units can apply with pro forma invoice of supplier along with green card issued by STPI/EOU with customs and central excise jurisdiction where units are located. Once after verifying the said documents necessary approval to issue CT3 form is ordered by customs officials. After necessary entry in the records of customs and central excise, CT3 form is issued in triplicate. A copy of ct3 ... more


Priyanshu Tiwari answered  •  May 12, 2020
Advantages of GST

GST eliminates the cascading effect of tax. ...

Higher threshold for registration. ...

Composition scheme for small businesses. ...

Simple and easy online procedure. ...

The number of compliances is lesser. ...

Defined treatment for E-commerce operators. ...

Improved efficiency of logistics. ...
... more

how filling GST return

Priyanshu Tiwari answered  •  May 12, 2020
Here are steps to be followed to file this GST returns on the Government portal. GSTR-5 must be filed monthly by 20th of next month by Non resident GST taxpayers. Here is step-by-step guide to file GSTR-5 on GST portal. The government mandates the filing of Information Returns under GST for certain class of persons.

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How can file GST return?

Priyanshu Tiwari answered  •  May 12, 2020
How to File GST Returns Online?

Visit the GST portal (www.gst.gov.in).

A 15-digit GST identification number will be issued based on your state code and PAN number.

Upload invoices on the GST portal or the software. ...

After uploading invoices, outward return, inward return, and cumulative monthly return have to be filed online.

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Why do special status states have a lower threshold level of 10 lakh than other states?

San Fern answered  •  Mar 05, 2020
Because of the spending nature of those states. those are terrain region.

Who do gst means?

Wahid Khan answered  •  Jan 17, 2020
GST Full Form is Goods and Services Tax. Before learning more about Goods and Sevice Tax, let's try to understand how taxes in India work. The Government of any country needs money for its functioning and taxes are a major source of

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please give me notes of chapter 6 and 7

Aniket Kamble answered  •  Jan 01, 2020
Sir, can you help us, decide Tybcom last year all accounts subject.

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Umar Abbasi answered  •  Dec 07, 2019
20 lac show credit amount part of this transtation and when paid then clear from this month of entire and submit monthly as same srb returns. umair abbasi advocate high court & income tax petitioner hyd. 00923333900086.

What are the methods to rectify uploaded gst returns?

Rasika Khodwe answered  •  Nov 16, 2019
They can be rectify by creating debit note and credit note in the upcoming month where u recognize u r mistake

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How to generate the waybill in gst portal

VIKAS BHARDWAJ answered  •  Nov 01, 2019
Steps to Generate E-Way Bill
Step 1: Access the eway bill generation portal at https://ewaybill.nic.in/ and enter the login detail to enter the platform.
Step 2: Click on the “Generate New” option from the eWay bill- Main menu page to generate a new eWay bill.
Step 3: A new eway bill generation form appears.
An eway Bill is an ‘electronic way’ bill for movement of goods which can be generated on the eWay Bill Portal. Transport of goods of more than Rs. 50,000 (Single Invoice/bill/delivery challan) in value in a vehicle cannot be made by a registered person without an eWay bill from 1st April 2018. E-way bill can be generated or cancelled through the e-way bill website, LEDGERS GST Software, SMS, Android App and by Site-to-Site Integration (through API). When an eWay bill is generated a unique eWay bill number (EBN) is allocated and is available to the supplier, recipient, and the transporter. In this article, we look at the steps to generate a e-way bill on the Government website.

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