Blogs

Filing of GSTR-3B return is the first formal communication of business transactions with the government machinery in the GST era. It holds lot of importance especially in the current scenario where many businesses are still struggling with the basics of this new law i.e. obtaining provisional id’s, issues in logins, interpretation issues in law, dealing with the procedural aspects and many more… The list can just go on. Amidst all these barriers, the show has to still go on and one...

GST for goods has provided schedules in line with VAT but the principles are based on the customs classification ( also adopted in central excise) The need to classify properly is understood by all as it may lead to payment of differential tax with credit in case of self correction and maybe without credit otherwise. Also no credit beyond limitation period for ITC post the annual returns. We have made an attempt to share the possible steps to be followed to arrive at appropriate...

Changes in IEC with the introduction of GST: (Trade notice number 09 dt 12.06.2017)  

With the introduction of GST, the GST Identification Number (GSTIN) would be used for the following purposes:  

• Credit flow of IGST on import of goods  
• Refund or rebate of IGST on the export of goods  

As the above requirement is fulfilled on transaction-level it has been decided that only GSTIN is required to be mentioned at the time of import and export of goods.  

Further,...