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GST-Goods and Service Tax

Goods and Services Tax Act – GST Law

GST RATES FOR GOODS AND SERVICES

GST RATES FOR GOODS AND SERVICES

GST Rates (As on 1st January 2019) – ( For Inter-state supply, IGST Rate is applicable | For intra-state supply, CGST rate and SGST/UTGST rate is applicable ) Goods which […]

Analysis-Self Assessment

Analysis-Self Assessment

Analysis-Self Assessment Self-assessment means an assessment by the registered person himself and not an assessment conducted or carried out by the Proper Officer. The GST regime continues to promote the […]

Introduction of Self-assessment

Introduction of Self-assessment

Introduction of Self-assessment In terms of Section 2(11) of the Act, “assessment” means determination of tax liability under this Act and includes self-assessment, re-assessment, provisional assessment, summary assessment and best judgement […]

Self-assessment

Self-assessment

Self-assessment Every registered taxable person shall self assess the taxes payable under this Act and furnish a return for each tax period as specified under Section 39.

Withholding of Refund

Withholding of Refund

Withholding of Refund In case of claim of refund of accumulated input tax credit, the refund due will be either withheld or deducted in cases where – A person defaults […]

Acknowledgement and Deficiency Memo

Acknowledgement and Deficiency Memo

Acknowledgement and Deficiency Memo Where application relates to a claim for refund from the electronic cash ledger – An acknowledgement in FORM GST RFD-02 shall be made available, clearly indicating […]

Provisional Refund

Provisional Refund

Provisional Refund In case of refund claimed by persons other than notified registered person where refund is on account of export of goods and/or services, the proper officer may refund […]

Refund Formula

Refund Formula

Refund Formula In case of Accumulated ITC – Refund Amount = (Turnover of zero-rated supply of goods + Turnover of zero-rated supply of services) x Net ITC ÷ Adjusted Total […]