GST Tip – 411

As per Section 171 of the CGST Act, any reduction in the tax rate or additional benefit of the input tax credit has to be passed to the recipient under Anti-Profiteering.

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GST Tip – 410

Under Margin Scheme in GST, the tax is payable on the difference between the buying price and the selling price. This is applicable to a person who is buying and selling second-hand goods.

GST Tip – 409

As per Rule 138 of the CGST Rules, the taxpayer who is sending the goods for job work, to a job worker outside the state, has to issue an E-waybill even if the goods being sent is of value less than Rs 50,000.

GST Tip – 408

As per Notification No 65/2017 – Central Tax,  an electronic commerce operator who is supplying services under section 9, sub-section 5 and having a turnover is not above Rs 25 Lacs in a financial year at all India basis is exempted from taking registration under GST.

GST Tip – 407

As per Notification No 64/2017 – Central Tax, the late fee for per day for filing of GSTR – 3B is Rs 25 in case of return where the taxpayer has to pay tax and Rs 10 per day in cases where the taxpayer has to file Nil return.

GST Tip – 406

As per Notification No 63/2017 – Central Tax, the last date for filing of Form GST ITC – 04, the taxable person who has dispatched or received goods for job work have to file the return by 31st Dec 2017 for the period July 2017 to Sep 2017, replacing the earlier date of 30th Nov 2017 as notified through Notification No – 53/2017 – Central Tax.

Government appoints Shri B.N. Sharma (IAS:1985) as Chairman of the National Anti-profiteering Authority under GST

In an immediate follow-up action of last week’s Cabinet approval for creation of the posts of Chairman and Technical Members of the National Anti-profiteering Authority under GST, the Government today issued orders appointing senior IAS officer Shri B.N. Sharma, as the first Chairman of this apex Authority in the rank of Secretary to Government of India

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