Blogs

 Introduction:

28th GST Council meeting dated 21st July 2018 had recommended various changes in the GST Law consequent to which certain amendments in the Act were proposed. The amendments were passed by the Parliament and State Legislative Assemblies and has been made effective w.e.f. 1.2.2019. Some of the amendments have been given to retrospective effect while other have been made effective prospectively. However, some amendments have still not been made effective and therefore the...

Introduction: Initially, restaurant services were liable to 18% GST. Subsequently, at the 23^rd GST Council meeting on 10.11.2017 held at Guwahati, it was recommended that all standalone restaurants, irrespective of whether air conditioned or not, will attract 5% GST without ITC. To give effect to such decision, a notification No. 46/2017- Central Tax (Rate) dated 15.11.2017 was issued, as per which the GST rate applicable to services provided by restaurants, eating joint including mess,...

Compliance Related Aspects

1.1 Simplified return format:

The council has recommended for a simplified return process as follows:

1. All taxpayers excluding small taxpayers and a few exceptions like ISD etc. shall file one monthly return. 
2. The return is simple with two main tables. One for reporting outward supplies and one for availing input tax credit based on invoices uploaded by the supplier.
3. Invoices can be uploaded continuously by the seller and can be continuously...