Learning Contents Section 15 of CGST Act,2017 deals with determination of value of Supply, in order to calculate GST (under section9 of CGST Act,2017) Role of Valuation in GST Valuation Provisions under GST Act Section15(1): The value of a supply of goods or services or both shall be the transaction value, which is the price …
We all, daily come a cross word ITC (Input Tax Credit), This is a buzz word in GST. We all need to understand the concept of ITC. Input Tax Credit (ITC) in GST refers to Section 16 of the Central Goods and Services Tax (CGST) Act, 2017 deals with the eligibility and conditions for claiming …
Assessment under GST Section 2(11) of CGST Act2017 defined the assessment to determine the tax liabilities under this Act and includes the self-assessment, re-assessment, provisional assessment, summary assessment and best judgement assessment. On a broader sense- assessment means estimation of tax liabilities. Audit Under GST In GST, there are mainly three types of Audits: These …
Penalty if We fail to Take GST Registration. Notice Issued: Remainder: Keep track of your digital receipts and stay compliant to avoid notice
What is GSTR-09? As per section 44 of CGST Act r/w Rule 80(1) of CGST Rules, GSTR 9 is an annual return to be filed by every registered taxpayer other than CTP, ISD, NRTP, and TCS & TDS deductors. The return consists of details such as outward/inward supplies, taxes paid, refund claimed and demands raised. …
