GST Return Filing | Know the important GST provisions for successful GST filing. Stay informed and streamline your tax by understanding the essential provisions
Supply of goods & services is the taxable event in GST.
- Supply requires consideration.
- However, in some cases specified supply without consideration will be subject to GST.
- Supply covers supply MADE or AGREED to be made in the course of furtherance of business.
- Covers Advanced Receipt also.
Place of Supply of Goods –
- If any goods are sent on the direction of any Third Person, then it is to be deemed that the third person has received goods.
- If goods are assembled at site, then the site will be the place of goods.
- Sale by transfer of documents, then the place of customer is Place of supply.
Location of Supplier or Receipent of Services –
- Normally where registration is obtained will be the location of supplier or recipient.
- Temporary place cannot be location of supplier.
- A fixed Establishment from where services are provided or received will be location of supplier.
- If more than one establishment, then the most relevant one.
- Registered office of company will be location of supplier.
- Though there are some exceptions also.
E – ledgers –
It is a statement of CASH & ITC. And every tax payer have an “ELECTRONIC TAX LIABLITY REGISTER “ Once a taxpayer is registered on GSTN it will be automatically opened & dispayed on his dashboard at all times.
Tax liability Register will reflects TOTAL TAX LIABLITY after netting for a month.
“ Cash Ledgers “
Reflects all deposits made in CASH & TDS/TCS made on account of taxpayers. The information will be reflected on “ Real time basis ”. This ledger can be used for making any payment of account of GST. Whereas, ITC Ledger – ( only tax can be paid no int , penalty , fee etc )