Common credit under GST with example

Common credit under GST with example

Common credit will be proportionally distributed while paying GST dues. Common credit arrives after reducing the ITC of taxable supplies from the total ITC..

Electronic Credit Ledger in GST

Electronic Credit Ledger in GST

The electronic credit ledger is maintained in electronic form on the GST portal for every taxpayer. Balance in credit ledger will be used to pay tax dues.

GST on exports

GST on exports

Exports are treated as inter-state supplies in GST and registration is compulsory in case of goods. Exemption limit under GST on export of services is 20 lakh.

Aadhaar authentication under GST

Aadhaar authentication under GST

Aadhaar Authentication process has been introduced under GST law with effect from 21.08.2020 for the persons applying for GST registration.

Input tax credit utilisation rules under GST

Input tax credit utilisation rules under GST

Sections 49(5), 49A, 49B, rule 88A and Circular No. 98/17/2019 GST together prescribe the order of utilisation of input tax credit (ITC). Restrictions on utilisation of ITC

How to view submitted Letter of Undertaking (LUT) on the GST portal?

How to view submitted Letter of Undertaking (LUT) on the GST portal?

Step by step guide to view submitted Letter of Undertaking (LUT) on the GST official website.

What is a Bill of Supply?

What is a Bill of Supply?

Bill of supply is issued by the registered person in prescribed format instead of a tax invoice when GST is not levied or when GST need not be collected

How to transfer input tax credit between multiple GST numbers?

How to transfer input tax credit between multiple GST numbers?

ITC shall be transferred in the ratio of the value of assets held by the transferee on the date of registration. Easy steps to file Form GST ITC-02A on the GST portal

How to file ITC-04 on the GST portal?

How to file ITC-04 on the GST portal?

Easy steps to submit Form ITC-04 on the GST portal. The form can be filed on the GST portal either directly online or by using an offline excel utility.

GST on rental income

GST on rental income

Renting immovable property in India is a taxable service and would attract GST @18%. Provisions in GST on rental income from shop, office, residential property.

How to file ITC-02 on the GST portal?

How to file ITC-02 on the GST portal?

Easy steps to file Form ITC-02 on the GST portal.