Articles on Goods And Service Tax

Documents required for filing of LUT for  Exports under GST

Documents required for filing of Letter of Undertaking (LUT) for Exports under GST

By Paras Mehra August 16, 2017

If you are a large exporter under GST, then you can export without payment if you file the LUT to the tax department. LUT is the letter of undertaking by the exporter that he shall fulfill all the required norms for export under GST.

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Exporters: Bank Guarantee not required for filing bond under GST if...

Exporters: Bank Guarantee not required for bond under GST if you are registered with Export Promotional Council (RCMC)

By Paras Mehra August 16, 2017

To provide relief to lakh of small exporters of goods or services under GST, government has done away with the requirement for bank guarantee for filing of bond in some cases. Previously, to submit bond, a bank guarantee is required to be filed.

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Input tax Credit under GST

How to pay GST and claim Input Tax Credit (ITC) for each month under GST – Know everything about ITC of CGST, SGST and IGST

By Paras Mehra August 11, 2017

The most important point to understand above is that the ITC of CGST cannot be utilized against SGST and the vice versa.This article explains the method of payment of GST.

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Now you can change the GST registration details online

Now start editing your GST Registration Details (GST REG 14) – Know how to amend GST Registration details online - For migration and new registration

By Paras Mehra August 11, 2017

Some wants to change and others want to correct but since the functionality was not there so they were not able to do anything on online GST portal. Now the functionality to amend the GST registration details is on, the taxpayers can easily change/amend t

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File the GST Return 3B for July by 20th August - 11 days to go

File all your July and August GST returns in the month of September – Know all the due dates for GST returns to be filed for July & August

By Paras Mehra August 9, 2017

The month of September is famous for income tax return filing and company law annual filing. However, this September is different and the same is going to be very hectic especially for the professionals who willing to meet their due dates.

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Bloggers: Pay GST on  Export income or file LUT/ Bond to Department

Bloggers: Pay GST on Export income or file LUT/Bond with the GST Tax Department

By Paras Mehra July 31, 2017

You may be surprised by reading the title of this article but this is what the GST law is on exports. Under GST, irrespective of whether you are exporting goods or services, there are only two ways possible to export under GST which are as follows:

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E-Way bill in Uttar Pradesh (UP) for invoice above 5,000 - Deferred

Need E-way bill to enter Uttar Pradesh (UP) for goods over Rs.5000 – Deferred till 15th August - Latest

By Paras Mehra July 28, 2017

Finally the UP government has taken up the first step which may cause serious damage to the whole GST structure and the scheme of one nation one tax. However, maybe to due to centre pressure, the implementation has been deferred till 15th August.

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File Bond/LUT in case of supply made to SEZ units

Whether Bond or LUT required to be filed if sale/supplies are made to SEZ under GST?

By Paras Mehra July 26, 2017

This is perhaps an important question with a simple answer. Under GST regime, if anybody wants to make zero rated supplies without charging GST then he needs to file bond or LUT as the case maybe to the central department before making any zero rated supp

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Require Bank Guarantee of 15% of bond if export receipt is less than 1 Cr.

Is bank guarantee (BG) required for filing bond for exports under GST? – How to calculate bank guarantee for filing bond under GST?

By Paras Mehra July 25, 2017

To export without charging GST, one needs to file bond or LUT with the central tax department. If in case the bond is to be filed, a copy of bank guarantee is also required to be filed. Let us understand when bond is required and how bank guarantee is fil

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