Complete understanding about the taxability of gift cards / gift vouchers Under GST. FACTS OF THE CASE: Business of a company:- The Company is engaged in the business of trading of “Gift cards/ Gift voucher’s” etc. the company buys these “Gift cards/Gift Voucher” from different suppliers and sell them to retail or wholesale customers which …
Selling of space in Advertising Sector under GST GST Rate in Advertising Sector GST is applicable to the sale of advertising space in print media as well as other forms of advertising. The unrestricted movement of credits on the procurement side leads in an overall reduction in the value of advertising, while this causes an …
When a supplier’s GST Number is cancelled with retrospective effect, ITC cannot be rejected: HC By their impugned order dated December 27, 2021, the concerned GST Officer (The Respondent) in this case denied the petitioner the benefit of Input Tax Credit (ITC) on their purchase of the goods in question from the suppliers and demanded …
Important FAQs on GST applicability on ‘pre-packaged and labelled’ goods: CBIC S. No. Question Clarification 1 What change has been made with respect to packaged and labelled commodity with effect from the 18th July, 2022? Prior to 18th of July, 2022, GST applied on specified goods when they were put up in a unit container …
Pre-packaged goods & labelled edible goods liable for the GST @ 5 percentage w.e.f. 18/07/2022 The edible goods taxable to pay GST @ 12 percentage or 5 percentage in case these goods are pre-packaged & labelled means that all the goods are placed in package, whether theses are sealed or not, However its must carrying …
GSTN has published Advisory on upcoming changes in Table 4 of Form GSTR-3B The government announced a few amendments to Table 4 of Form GSTR-3B in Notification No. 14/2022 – Central Tax, dated July 5, 2022 under the CGST Rules, requiring taxpayers to disclose information on ITC correctly claimed, reversed, and declared ineligible ITC. The …
Renting residential property got expensive Now GST on service of renting residential dwelling of w.e.f. 18-07-2022 Starting 18 July 2022, Goods and services tax will be applicable on residential property renting to a person registered under GST. But, In case the property is rented to an unregistered person, GST would not be charged. And it …
GOODS & SERVICES TAX COMPLIANCE CALENDAR FOR THE FY 2022-23 To comply with the different compliances under GST , here is the GST compliance calendar for the Financial Year 2022-23. Keep track of everything and you’ll never forget a deadline. Stay compliant at all times. GST COMPLIANCE CALENDAR FOR THE FY 2022-23 GST COMPLIANCE CALENDAR …
Cases where Provisional Attachment of Property U/s 83 of CGST Act can be Initiated Commissioner can freeze your bank account and attach your property if the Taxpayer and Any Person who commits any offence and the Commissioner wants to protect the government’s revenue, he has the power to attach the taxpayer’s property and bank account …
Compliance Calendar for the month of January 2022 What is deadline dates in January 2022 for compliance ? Important deadline due dates in January 2022 for compliance under various law includes Goods & Services Tax (GST). Also, read this article:- HSN & SAC CODES ALONG WITH GST RATE Proposed GST Law Procedures & Compliances …