GST Tip – 320

As per Rule 139 of CGST Rules 2017, the officer who is seizing the goods, documents, books or things shall prepare an inventory of such goods or documents or books or things containing along with the description, quantity or unit, make, mark or model, where applicable, and get it signed by the person from whom such goods or documents or books or things are seized.

GST Tip – 218

As per the Determination of Value of Supply Rules, “supply of goods or services or both of like kind and quality” means any other supply of goods or services or both made under similar circumstances that, in respect of the characteristics, quality, quantity, functional components, materials, and reputation of the goods or services or both first mentioned, is the same as, or closely or substantially resembles, that supply of goods or services or both.

GST Tip – 128

Similar to the sales details shown in the Income Sheet of GSTR -9B, inward supplies have to be shown in Expenditure sheet along with the unit of measure and quantity. Also, reconciliation has to be provided for expenditure as per the P & L at the legal entity level and expenses at the state level basis of accounting head.