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INPUT TAX CREDIT MECHANISM UNDER GST

input tax credit under gst

GST INPUT TAX CREDIT MECHANISM Input Tax Credit (ITC) means credit of tax already paid on purchases that can be adjusted against tax collected on sales. The balance (if any) is required to be paid to government. First Check whether the credit falls under Eligible credit or Blocked credits. Next …

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RCM or REVERSE CHARGE MECHANISM UNDER GST

gst reverse charge mechanism

GST REVERSE CHARGE MECHANISM Cases where liability to pay tax to the government is on Supply Receiver and not Supplier RCM – I Section 9(3) � A LIST of Goods/Services has been notified by the Government. � If the transaction falls in this list,applicability of RCM arises (no matter the services …

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TAX PAYMENTS UNDER GST

gst tax payments

PAYMENT OF TAX UNDER GST HOW FREQUENTLY TO PAY TAX? PERSON TIME LIMIT Every Registered Person Not later than the last date on which he is required to furnish Return i.e., within 20th of the Succeeding month Composite Dealer Not later than the last date on which he is required …

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ACCOUNTING UNDER GST

 ACCOUNTING PROCEDURE UNDER GST What Ledgers you should Maintain under GST  INPUT TAX � Input CGST A/c. (Local sales) � Input SGST A/c. (Local sales) � Input IGST A/c. (Inter-State sales) � Input  Cess A/c. (If applicable) Moreover these ledgers are to be maintained REGISTRATION NO wise. Finally match your …

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Invoicing under GST

gst invoicing

Invoicing Under GST (Supply of Goods and Services) First and foremost, Invoicing forms a crucial function when it comes to the execution of a transaction. In the final analysis,the invoice becomes a basic document for recording the sale/purchase in books of accounts. Equally important ,the government has notified rules of invoicing under …

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CA Final Suggested Answers May 2017 to Nov 2008

CA Final Suggested Answers May 2017 to Nov 2008

CA Final Suggested Answers From May 2017 to Nov 2008. In the previous post, we have given CA Final Question Papers from May 2010 to May 2017. Today we are providing CA Final suggested answers of previous exams I;e last ten attempts from May 2010 to May 2017. Now you can download CA Final …

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Registrations under GST

GST REGISTRATION

Procedure for Registrations under GST GST APPLICABILITY The effect of the new tax regime will be proportional to the size of the entity but ultimately it will be the end user who will bear the brunt of higher tax rate or get the benefits of lower taxes. Furthermore,GST is state …

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CA Final Pass Percentage May 2017 | ICAI Result

CA Final Pass Percentage

CA Final Pass Percentage May 2017 | ICAI Results. The Institute of Chartered Accountants of India conducts CA Final exams twice in a year in the months of May and November. CA Final exams May 2017 completed on 17th May 2017. After completion of exams, students eagerly waiting for their CA …

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