CAclubindia Articles

Refund under GST and the procedure to claim refund

Taxblock 16 July 2022 at 07:28

Refunds can be claimed under GST when the taxpayer pays a tax more than he is liable to pay. The process of claiming refund under GST is systemized so that no confusion arises. The whole process of refund is online and they have given some time limit for claiming refund.

Deposit of erroneous refund can claim back as ITC

CA Pradeep Sharma 16 July 2022 at 07:28

The proper officer, on being satisfied that the full amount of erroneous refund along with applicable interest, as per the provisions of section 50 of the CGST Act, and penalty, wherever applicable, has been paid by the said registered person in FORM GST DRC-03 by way of debit in electronic cash ledger

Whether services of gardener is considered as perque if provided along with rent free accomodation

FCS Deepak Pratap Singh 15 July 2022 at 20:06

Whether services of a gardener is not considered as a prerequisite when same is provided by the employer along with rent-free accommodation owned by the employee.

Changes proposed in disclosure of ITC in Table 4 of GSTR-3B

CA Akshay Hiregange 15 July 2022 at 09:26

To streamline the disclosures in GSTR-3B across the nation, some changes in the Form have been introduced w.e.f 5th July 2022 vide NN 14/2022-CT along with clarity provided through Circular No. 170/02/2022-GST dated 6th July 2022.

Outward Supply additional disclosures in Form GSTR-3B

CA Akshay Hiregange 14 July 2022 at 15:02

In order to accommodate new changes in the law and new disclosure requirements, the present GSTR-3B may see some changes soon, as specifically mentioned in the press release of the 47th council meeting. A revised GSTR-3B form may be put up in the public forum for comments and suggestions.

Tips to save up money even during recession

Suhasini 14 July 2022 at 11:55

In this article, we give you tips on how you can cut down on some costs and how to save some cash.

What is income?

Taxblock 14 July 2022 at 11:00

Income is the money an individual receives in compensation for their work, services, or investments. For businesses, Income means revenue that a business generates by selling its goods and services. Revenue is the money earned by a company from selling goods or services throughout its operations.

How to Import Masters and Vouchers to Tally?

Neethi V. Kannanth 14 July 2022 at 08:56

To import masters into XYZ Company, you need to ensure that both the options Maintain stock categories and Maintain batch-wise details are enabled in XYZ Company before importing.

Refund in case of Duty Free Shops (DFS) at international terminal

CA Pradeep Sharma 13 July 2022 at 08:50

GST Council 47th meeting also clarify by explaining "Supplies from Duty Free Shops (DFS) at international terminal to outgoing international passengers to be treated as exports by DFS and consequential refund benefit to be available to them on such supplies.

Changes in reporting of input tax credit in GSTR-3B

Nilesh Mahajan 13 July 2022 at 08:50

Changes in reporting of input tax credit in GSTR-3B [Notification No. 14/2022 - Central Tax dated 5th July 2022 read with Circular No.170/02/2022 dated 6th July 2022]