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Notice in GSTR – 3A for non filers of returns: Section 46 of the CGST Act read with rule 68 of the CGST Rules, 2017 requires issuance of a notice in FORM GSTR-3A to a registered person who fails to furnish return under section 39 or section 44 or section 45 (hereinafter referred to as the “defaulter”) requiring him to furnish such return within fifteen days. Continue reading “Standard Operating Procedure (SOP) for Non filers of Returns – Latest Circular 20/06/04/2019”

Find below the Section 7(1)(a) of the CGST Act contemplates various forms of supply such as sale, transfer, barter, exchange, license, rental, lease or disposal.

Continue reading “Mind Map on Supply u/s 7 of CGST Act”

Introduction:

A pure agent is one who while making a supply to the recipient, also receives and incurs expenditure on some other supply on behalf of the recipient and claims reimbursement (as actual, without adding it to the value of his own supply) for such supplies from the recipient of the main supply. While the relationship between them (provider of service and recipient of service) in respect of the main service is on a principal to principal basis, the relationship between them in respect of other ancillary services is that of a pure agent. Continue reading “Pure Agent under GST and exclusion of expenditure incurred as pure agent from computation of GST”

Introduction:

Petroleum products have become an indispensable part of our day-to-day life, and we can’t imagine our life without it. But the petroleum prices are sky rocketing. This hike directly or indirectly affects all the major sectors like transportation, textiles, auto, FMCG etc., from 16th June 2017 Government implemented daily revision of fuel cost, which put a burden on consumers. Earlier, the prices were fixed twice in a month, but now the change in price happens at 6 a.m. every morning. Continue reading “Will Petroleum products come into the ambit of GST?”