TDS on GST Who is responsible to deduct TDS As per Section 51 CGST (Central Goods and Services Tax) Act 2017, provides that 1.A department or establishment of Central Govt or State Govt, or 2.local authority or 3.Govt Agencies or 4.other specified persons are required to deduct TDS @ 2% (IGST 2%, or CGST 1% […]


GST Audit FORM GSTR-9C Notification No. 49/2018 – Central Tax 13th September, 2018 These rules may be called the Central Goods and Services Tax (Tenth Amendment) Rules, 2018 Those tax payers whose annual turn over exceeds 2 crores need to file Annual return in GSTR 9C. It contains two parts. PART – A – Reconciliation […]

GSTR 9- Annual return

GSTR 9 is annual return filed by a peraon registered under GST. It shows the supplies received/made during the year classified under CGST,SGST& IGST.It is a summary po periodical returnsie monthly /quarterly. Following are exempt from Annual return filing in Form 9 1) Casual Taxable Person 2)Input service distributors 3)Non-resident taxable persons 4)Persons paying TDS […]

GST notifications dated 13.09.2018

49/2018-Central Tax ,dt. 13-09-2018 Notification amending the CGST Rules, 2017 (Tenth Amendment Rules, 2018) 50/2018-Central Tax ,dt. 13-09-2018 Seeks to bring section 51 of the CGST Act (provisions related to TDS) into force w.e.f 01.10.2018 51/2018-Central Tax ,dt. 13-09-2018 Seeks to bring section 52 of the CGST Act (provisions related to TCS) into force w.e.f […]

How long ITC can be carried forward

No time limit in the GST laws for carrying forward of unutilised ITC. It can be carried forward to indefinite period until it is set off against output tax liability. ITC can be claimed/availed upto the due date of furnishing of return for the month of September following the end of the financial year to […]

GST Notifications Summary

1.Central Tax Notifications 1.Notification Number 42/2018,Date 4/9/2018 Taxpayers who filed GST CMP-04 for opting out of the composite scheme between 2nd March 2018 to 31st March 2018 can declare their ITC claim in Form GST ITC -01 till 3rd of October 2018. For all recent notifications go to the link given. Link .

Expectations of this 29th GST Council meeting to Boost MSMEs

Following areas under consideration to support MSME: 1) A threshold exemption of Rs 20 lakhs for Inter-state supplies. 2) Exemption of E way bill with in state and to increase exemption limit to Rs 1 lakh 3) Tax rates for SME units manufacturing agro products reduced to a maximum of 5%. 4) Speed up refund […]

GST Annual Return Form GSTR 9 and GSTR 9A Notified by CBIC

GST Annual Return Form GSTR 9 and GSTR 9A Notified by CBIC vide Notification No. 39/2018 – Central Tax dated 04th September 2018: Normal taxpayers will need to file GSTR-9 return form while composition taxpayers will have GSTR-9A. The last date for filing the annual return form for 2017-18 is December 31.

Kerala Floods: Due Date for IT Returns Extended to Sept 15

Due to severe floods in Kerala, the Central Board of Direct Taxes (CBDT) further extends the “Due Date” for furnishing Income Tax Returns from 31st August, 2018 to 15th September, 2018 for all Income Tax assessees in the State of Kerala, who were liable to file their Income Tax Returns by 31st August, 2018.