Articles by Udaya Chandran

Reversal of ITC on High Sea Sales u/s 17(2) of CGST Act

Udaya Chandran 12 March 2024 at 08:56

High Sea Sales is one kind of sale transactions prevalent in trade practices where the original importer arranges to sell the importing goods to another buyer b..

Assessment of Non-filers of Return under Section 62 of CGST Act

Udaya Chandran 02 February 2024 at 08:53

Where a registered person fails to furnish monthly or quarterly returns under Section 39 or the final return under Section 45, a notice in Form GSTR-3A shall be issued by the proper officer requiring him to furnish such returns within 15 days under Section 46.

Availability of ITC for the Supplies Obligatory for an Employer to its Employees

Udaya Chandran 09 September 2023 at 08:51

There was confusion whether the proviso applies to all the above-mentioned services or not. The same was clarified vide Circular No.172/04/2022-GST dated 6th July 2022.

Conditions for Export Supplies made under Bond or LUT - Rule 96A

Udaya Chandran 10 June 2023 at 14:17

The Government takes a number of steps to make exporting easier in order to promote exports. As long as the exporter complies with specific requirements, expor..

Whether Payment for Supplies can be made by Book Adjustments for availing ITC

Udaya Chandran 14 November 2021 at 11:57

There has been a confusion among the dealers whether the consideration for supplies can be paid by book adjustments under GST Act. In many businesses, the dealers buy and sell goods or services from one another for which they don’t make payment in cash rather they adjust the book entries for such purchases and sales.

List of Goods and Services not Eligible for Input Tax Credit under GST

Udaya Chandran 19 December 2018 at 11:06

According to Section 17, the input tax credit is available only to the extent of the good

Important Points for Job Work under GST

Udaya Chandran 30 March 2018 at 12:24

DefinitionJob work: Any treatment or process undertaken by a person on goods belonging to another registered personPrincipal: The registered person on whose goo..

Determination of Time of Supply of Goods

Udaya Chandran 13 March 2018 at 10:36

The liability to pay tax arises at the time of supply, time of supply is determined as per the below provisions:Time of

Determination of Inter and Intra State Supplies

Udaya Chandran 26 February 2018 at 11:13

As per Section 5 of IGST Act, Integrated Goods and Service Tax (IGST) will be levied on all inter-state supplies of goods or services or both.As per Section 9 o..

GST Supplies without Consideration

Udaya Chandran 07 February 2018 at 10:56

As per the Section 7(c) of GST Act, there are activities which are considered as supply for the purpose of this Act even without consideration. The Schedule I ..