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 – 336

As per Section 60 of the CGST Act, if a taxpayer is not able to determine the value of goods or services or both or determine the rate of tax applicable thereto, the taxpayer may request the proper officer to pay taxes on provisional basis by filing the return in FORM GST ASMT-01 ( as per rule 98 of the CGST Rules) giving reasons for payment of tax on a provisional basis.

GST Tip – 246

As per the Final Returns Formats, supplies to B2C have to be shown in Table 7 of GSTR – 1, grouped by Tax Rates only for Intrastate and Interstate supplies. In the case of interstate supplies, it has to be grouped by State Code and then by Tax Rates.  HSN Code /SAC Code along with Tax paid on provisional assessment from the old formats given in Table 7.

GST Tip – 230

As per the Tax Invoice, Credit and Debit Note Rules, released for GST on 18th May 2017, as per Rule 5 at the time of creation of receipt voucher, if the tax rate is not determinable, then the tax rate to be considered is 18%.

GST Tip – 85

In GSTR – 1 all credit notes/debit notes issued by the supplier to the recipient on account of the difference in tax rate or taxable value or goods returned by the recipient. The credit note should have the reference of the original tax invoice