e-invoice – The Technical Aspects e-invoice is to be rolled out optional from 1st Jan 2020 and mandatory from 1st April 2020. It is already one month, and we need to work on the same if the same is not started as we are racing against time. The government has given access to the sandbox for the taxpayer to verify and test the same before rolling out…

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Business Process Returns

Refund Process for Goods and Services Tax Refunds impact the cash flows and pricing of goods and services for exports, this article throws light on the refund process under proposed GST based on the Business Process Document – Refund Process for Goods and Services Tax Demystifying Returns under Goods and Service Tax – Part  The article talks about the return filing under GST based on the…

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Model GST Law

Demystifying changes / differences in the Model GST Law released in June 2016 and Revised Model GST Law released in November 2016 Gives a brief overview of the major changes between the June and November 2016 MGL Demystifying Job Work Under Model GST Law Tax Deduction at Source is aslo applicable under GST, similar to that of TDS recovered under VAT by various states. This blogs provides…

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Draft Rules

Demystifying the Revised Invoice Rules – Revised Invoice rules have been issued by the Government of India and also asked for the views on the same. The details are explained in this blog – Demystifying the Revised Invoice Rules Demystifying Goods and Service Tax – Draft Payment Rules Process and payment of taxes and registers maintained in the common portal for the taxpayer are given in the…

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GST Acts

Demystifying Anti-profiteering in GST Anti-profiteering is introduced in the GST Act based on the experience gained at the time of implementation of VAT in India and all other countries where GST / VAT is rolled out. The Government across the world felt that the until and unless there is a provision in the law the benefits of the new tax regime are not being passed.Demystifying…

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GST Rules

Demystifying the reasons for mismatch between Supplier’s GSTR – 1 and Recipients GSTR – 2 It is almost 120 days after the rollout of GST and we are yet to file the first month returns, i.e., for the month of July 2017. Is technology the main culprit for this delay? The answer is “Yes” and “No.” Yes, in case of taxpayers who have a large…

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