Blogs

In the recent past, the matter of interest on Gross (before adjusting GST ITC) or Net liability (after adjusting GST ITC) is knocking the doors of every belated GST return filers. The Hon’ble HC of Telangana in case of Megha Engineering & Infrastructures Ltd. v. Commissioner — 2019 (26) G.S.T.L. 183 (Telangana) held that interest is liable on the Gross GST liability but the Hon’ble has admitted the review petition and granted an interim stay and the other HC’s are yet to deliver the...

Introduction:- India’s Foreign Trade policy (FTP) has, conventionally, been formulated for five years at a time and reviewed annually. The focus of the FTP has been to provide a framework of rules and procedures for exports and imports and a set of incentives for promoting exports. The benefits under foreign trade policy encourage the exporter to export the goods as well as service.

Advance Authorisation is a license issued under chapter 4 of Foreign Trade Policy 2015-20. This Advance...

1. Need for Valuation Rules for Transactions Within Company

During the pre-GST era, for inter-State stock transfers, the major concern of the Industry was with regard to the additional cost of CST and the compliance burden of submission of statutory forms. However, there was no concept of deemed service between branches located in two different States and hence there was no requirement to pay Service Tax on such activities. With the introduction of GST, by virtue of Schedule I, the...

Contents

1.  Procedure for E-invoicing...................................................................................................... 

2.  Common GST Electronic portal notified for generating e-invoice.............................................

3.  Specified persons who are required to prepare e-invoice with effect from 1^st April 2020............

4.  Mentioning of QR Code in...