SBLC OR CORPORATE GUARANTEE PROVIDED BY PARENT COMPANY TO INDIAN SUBSIDIARY - GST PERSPECTIVE
BLC / Corporate Guarantee is provided by an International Bank/Parent company to a bank in India to provide overdraft facilities to their subsidiary company in India. Whether the charges paid by the parent company to the International Bank and debited to the company in India shall be subject to GST?...
Read More »Audit in GST
Audit has been defined in the CGST Act.2017 as under: Section 2(13):“audit” means the examination of records, returns and other documents maintained or furnished by the registered person under this Act or the rules made there under or under any other law for the time being in force to verify...
Read More »Non-payment of GST on Services Provided to the Employees Without Consideration
The question arises for the taxation of perquisites. It is pertinent to point out here that the services by an employee to the employer in the course of or in relation to his employment is outside the scope of GST (neither supply of goods or supply of services). It follows...
Read More »Summary to Circular No. 129/48/2019-GST Dated 24.12.2019
GST department is all set with harsh decision to send automated SCNs to non-filers of 3B within 5 days of due date. Department has issued Circular No. 129/48/2019-GST Dated 24.12.2019 Following are the summary to Circular No. 129/48/2019-GST Dated 24.12.2019 Being a registered taxpayer, you are required to furnish return...
Read More »Threshold limit of registration under GST
Threshold limit of registration under GST Section 22 to Section 30 of the CGST Act, 2017 deals in registration under GST by every supplier of goods and services. Find below note on registration with effect from 1st April 2019.
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