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Question and Answers

Is it compulsory for a taxpayer to file return by himself?

No. A registered taxpayer can also get his return filed through a Tax Return Preparer, duly approved by the Central or the State tax administration.

Goods and Service Tax 1 Answer
If a return has been filed, how can it be revised if some changes are required to be made?

In GST since the returns are built from details of individual transactions, there is no requirement for having a revised return. Any need to revise a return may arise due to the need to change a set... Read More

Goods and Service Tax 1 Answer
Is an Annual Return and a Final Return one and the same?

No. Annual Return has to be filed by every registered person paying tax as a normal taxpayer. Final Return has to be filed only by those registered persons who have applied for cancellation of... Read More

Goods and Service Tax 1 Answer
Whether the description of each item in the invoice will have to be uploaded?

No. In actuality, the description won't need to be uploaded. Only the HSN code for the provision of products and the accounting code for the delivery of services must be fed. The minimal number... Read More

Goods and Service Tax 1 Answer
Is the scanned copy of invoices to be uploaded along with GSTR-1?

Invoices is not required to be uploaded. Only certain prescribed fields of information from invoices need to be uploaded.

Goods and Service Tax 1 Answer
Can all liabilities be paid with ITC that has been granted provisionally?

No, the only use for a provisionally allowed ITC is to pay a return's self-assessed output tax.

Goods and Service Tax 1 Answer
Can a registered person receive ITC for products or services used in the construction of a structure for commercial use?

ITC on products or services provided by an individual for the building of real estate other than machinery and plant is not permitted. Plant and machinery only refers to items that are supported by a... Read More

Goods and Service Tax 1 Answer
Various factors might cause things to be lost or damaged at times. Can a person claim ITC for these items in full?

No, a person cannot claim ITC for items that were stolen, lost, destroyed, or written off. Additionally, ITC with regard to products given as presents or free samples is not permitted.  

Goods and Service Tax 1 Answer
When goods are sent to someone who is not a taxable person ('bill to'-'ship to' scenarios), who will receive the ITC?

When the items are given to a third party at the request of the taxpayer, it is assumed that the registered person has received the goods. So, the person on whose order the products are supplied to a... Read More

Goods and Service Tax 1 Answer
How would a registered person be eligible to ITC if goods for an invoice are received in lots or installments?

Only upon receipt of the last lot or installment, the registered person becomes eligible for the credit.

Goods and Service Tax 1 Answer
Is credit of all input tax charged on supply of goods or services allowed under GST?

Subject to further terms and circumstances, a registered person is allowed to claim an input tax credit for purchases of products or services that he uses or intends to use in the course or... Read More

Goods and Service Tax 1 Answer
Does input tax include tax (CGST/IGST/SGST) paid on input goods, input services and capital goods?

Yes, it includes taxes paid on input goods, input services and capital goods. Credit of tax paid on capital goods is permitted to be availed in one installment.  

Goods and Service Tax 1 Answer
Can GST paid on reverse charge basis be considered as input tax?

Yes. The definition of input tax includes the tax payable under the reverse charge.  

Goods and Service Tax 1 Answer
Is every e-commerce operator required to collect tax on behalf of actual supplier?

Yes, every e-commerce operator is required to collect tax in cases where they are receiving payment for the supply in relation to the consideration.  

Goods and Service Tax 1 Answer
What is meant by “net value of taxable supplies”?

The term "net value of taxable supplies" refers to the total amount of taxable supplies of goods or services, or both, made by all registered parties through the e-commerce operator during... Read More

Goods and Service Tax 1 Answer
Is it mandatory for e-commerce operator to obtain registration?

Yes. The benefit of threshold exemption is not available to e-commerce operators and they would be liable to be registered irrespective of the value of supply made by them.

Goods and Service Tax 1 Answer
What is a CIN and what is its relevance?

Challan Identification Number is referred to as CIN. It is a 17-digit number made up of a 3-digit bank code and a 14-digit CPIN. When a payment is actually received by one of these authorised banks... Read More

Goods and Service Tax 1 Answer
What is a CPIN?

CPIN is an acronym for the Common Portal Identification Number (CPIN) provided at the point the challan was generated. The challan's identification number is a 14-digit unique number. As... Read More

Goods and Service Tax 1 Answer
Is there a validity period of challan?

Yes, a challan will remain in effect for fifteen days after it is generated before being deleted from the system. The tax payer can, however, produce a new challan whenever he likes.

Goods and Service Tax 1 Answer
Can a challan generated online be modified?

No. The tax payer can save the challan for further updation but cannot modify the challan after generation of CPIN.

Goods and Service Tax 1 Answer
Can a tax payer generate challan in multiple sittings?

Yes, a taxpayer may begin filling out the challan form in part and then temporarily "save" it to finish it later. Prior to finalisation, a saved challan can be "modified." The tax... Read More

Goods and Service Tax 1 Answer
What is an ITC Ledger?

The ITC Ledger will record Input Tax Credit as self-assessed in monthly returns. Only taxes, not other amounts like interest, penalties, or fees, can be paid with the credit in this ledger.

Goods and Service Tax 1 Answer
What is a Cash Ledger?

All cash deposits and TDS/TCS made on the taxpayer's behalf are recorded in the cash ledger. Real-time updates will be made to the information. You can use this ledger to make any payment on... Read More

Goods and Service Tax 1 Answer
What is a tax liability register?

The overall tax due of a taxpayer for a given month will be shown in the Tax Liability Register (after netting).

Goods and Service Tax 1 Answer
What are E-Ledgers?

The statements of cash and input tax credit for each registered taxpayer are known as electronic ledgers, or E-Ledgers. Each taxpayer is also have an electronic tax liability register. 

Goods and Service Tax 1 Answer
What happens if the taxable person files the return but does not make payment of tax?

The return is not regarded as a proper return in such circumstances. Only the valid return will be taken into account when granting the receiver an input tax credit (ITC).

Goods and Service Tax 1 Answer
Are self-supplies taxable under GST?

Consignment sales, branch transfers, and other interstate self-supplies including stock transfers are all subject to the GST even though they don't always need payment of money in exchange.

Goods and Service Tax 1 Answer
What is the taxable event under GST?

The taxable event under GST shall be the supply of goods or services or both made for consideration in the course or furtherance of business.

Goods and Service Tax 1 Answer
Will there be any communication regarding the disposal of the application?

The GST common portal is required to notify the applicant through email and SMS if his registration request was approved or denied. At this point, the applicant would be informed of the... Read More

Goods and Service Tax 1 Answer
What will be the time limit for the decision on the on line registration application?

The State or Central Authorities shall approve or issue SCN (in case of any deficiencies or any further clarification required by proper officer) within 7 working days if they opt for Aadhar... Read More

Goods and Service Tax 1 Answer
Is there any facility for digital signature in the GSTN registration?

The alternative for tax payers to sign applications with certified digital signatures has been be provided. The application or other submissions would be able to be electronically signed using either... Read More

Goods and Service Tax 1 Answer
Whether the Registration granted to any person is permanent?

Yes, the registration certificate is permanent once issued until it is given up, revoked, suspended, or cancelled.

Goods and Service Tax 1 Answer
If a person is operating in different states, with the same PAN number, whether he can operate with a single Registration?

 No. Each person who is required to obtain a registration must register separately for each State in which he conducts business and is responsible for paying GST.

Goods and Service Tax 1 Answer
What will be the effective date of registration?

The effective date of registration shall be the date on which the person became subject to registration in cases where the application for registration has been made within thirty days of that... Read More

Goods and Service Tax 1 Answer
Can someone who has not registered for GST still claim ITC and collect tax?

No, a person who has not registered for GST is unable to collect GST from customers or to claim any input tax credits for GST that he has already paid.

Goods and Service Tax 1 Answer
Can composition tax be collected from customers?

No, the registered person under composition scheme is not permitted to collect tax.

Goods and Service Tax 1 Answer
Can the customer who buys from a registered person who is under the composition scheme claim composition tax as input tax credit?

No, because a composition scheme supplier cannot issue a tax invoice, a customer who purchases goods from a registered person under the composition scheme is not eligible for composition input tax... Read More

Goods and Service Tax 1 Answer
Can a person who is registered under the composition scheme claim an input tax credit?

No, registered person under composition scheme is not eligible to claim input tax credit.

Goods and Service Tax 1 Answer
What will be the implications in case of receipt of supply from unregistered persons?

If a registered person receives specified supply from an unregistered person, the registered person must pay tax under the reverse charge mechanism.

Goods and Service Tax 1 Answer
Is the reverse charge mechanism applicable only to services?

 No, reverse charge applies to supplies of both goods and services.  

Goods and Service Tax 1 Answer
What is meant by Reverse Charge?

It means that the recipient of such goods and services pays the tax liability rather than the supplier of such goods and services. It is applicable on supply of Goods and Services as specified.

Goods and Service Tax 1 Answer
What is meant by Reverse Charge?

It means that the recipient of such goods and services pays the tax liability rather than the supplier of such goods and services. It is applicable on supply of Goods and Services as specified.

Goods and Service Tax 1 Answer
How will Exports be treated under GST?

Exports will be taken into account as zero-rated supplies. No tax will be charged on exports of goods or services; however, an input tax credit will be available and will be refunded to exporters.... Read More

Goods and Service Tax 1 Answer
Which goods/sectors are out of the purview of GST?

Alcohol and certain petroleum products, such as petroleum crude, high speed diesel, motor spirit, aviation turbine fuel, and natural gas, are out of scope from GST. GST on Petroleum Product shall... Read More

Goods and Service Tax 1 Answer
Which existing taxes are proposed to be absorbed by GST?

The central taxes subsumed under CGST include: Central Excise duty Additional Excise duties Excise Duty levied under the Medicinal and Toiletries Preparation... Read More

Goods and Service Tax 1 Answer
What is the Goods and Services Tax (GST)?

It is a destination based tax on consumption of goods and services. It is proposed that it be levied at all stages, from manufacturing to final consumption, with setoff of credit of taxes paid at... Read More

Goods and Service Tax 1 Answer
Define the term Composite Supply under CGST/SGST/UTGST Act.

Composite Supply is defined as supply comprising of two or more taxable goods and/or services, or any combination thereof, which are naturally bundled and supplied in conjunction with each other in... Read More

Goods and Service Tax 1 Answer
Define the term Mixed Supply under CGST/SGST/UTGST Act.

Mixed Supply is defined as supply of two or more goods/services or any combination thereof, made in conjunction with each other by a taxable person for a single price, where such supply does not... Read More

Goods and Service Tax 1 Answer
Define the term “Time of Supply”.

Time of Supply can be defined as the point at which the liability to charge GST arises. It indicates a time at which a particular supply of goods and/or services is deemed to be made. The acts and... Read More

Goods and Service Tax 1 Answer
What is the prescribed time limit to issue invoice in case of supply of services as per section 31 of CGST/SGST Act?

As per section 31 of CGST/SGST Act, the taxpayer shall, before or after the provision of service, but within a period of 30 days from the date of supply of service, issue a tax invoice containing all... Read More

Goods and Service Tax 1 Answer
What is the prescribed time limit to issue invoice in case of continuous supply of goods as per section 31 of CGST/SGST Act?

Continuous supply of goods means supply wherein a supplier provides goods to the recipient on a continuous or recurring basis, under a contract. If successive statement of accounts or successive... Read More

Goods and Service Tax 1 Answer
Define the terms “Input Tax” and “Input Tax Credit”.

Input Tax means the Integrated Tax (IGST), Central Tax (CGST), State Tax (SGST), and Union Territory Tax (UTGST) charged on supply of goods and/or services made to a registered person. Taxes... Read More

Goods and Service Tax 1 Answer
Can a recipient avail Input Tax Credit without payment of consideration for the goods & services received?

Yes, the recipient of goods and/or services can avail input tax credit on such supply even if consideration is not paid. However, the recipient is required to make the payment along with tax amount... Read More

Goods and Service Tax 1 Answer
What happens if the recipient fails to discharge the consideration within 180 days of invoice date? Will he be eligible to reclaim the input tax credit after payment of consideration?

If the recipient of goods or service or both fails to make payment of consideration within 180 days of invoice date, he shall be required to add the Input Tax Credit (availed against such invoice) to... Read More

Goods and Service Tax 1 Answer
What is Goods and Services Tax and how is it levied?

Goods and Services Tax (GST) is a destination-based tax levied on consumption of Goods and Services. As per the applicable GST laws and rules, GST is meant to be levied at every stage of the... Read More

Goods and Service Tax 1 Answer
GST is often defined as “Destination-based tax”. What does this term mean?

GST is levied by the taxing authority located at the place where the goods are ultimately consumed and not the place where the goods originate, thereby earning the name “Destination-based... Read More

Goods and Service Tax 1 Answer
What items are exempted from GST or kept outside the purview of GST?

According to Article 366 of our Constitution, alcohol for human consumption is kept outside the purview of the GST law. Also, five petroleum products (namely, petroleum crude; motor spirit (petrol);... Read More

Goods and Service Tax 1 Answer
When is IGST levied on supply of goods and/or services?

As per the provisions of the GST laws, Integrated GST or IGST is levied and collected by the Centre on occasions of inter-state supply of goods and/or services. Inter-state supply of goods and/or... Read More

Goods and Service Tax 1 Answer
What is CGST/SGST levied on supply goods and/or services?

As per the provisions of the GST laws, Central GST (or IGST) and State GST (or SGST) are levied and collected by the Centre on occasions of intra-state supply of goods and/or services. Intra-state... Read More

Goods and Service Tax 1 Answer
What is e-way bill? How can a person generate e-way bill?

E-way bill is a document required to be carried by any person responsible for movement of goods having value of more than fifty thousand rupees. The provisions relating to e-way bills are carried in... Read More

Goods and Service Tax 1 Answer
Can a person cancel the e-way bill if goods are not being transported after generation of such e-way bill?

In situations where an e-way bill has been generated, but the goods are not being transported as per details provided in the e-way bill, such e-way bill can be cancelled through the common portal.... Read More

Goods and Service Tax 1 Answer
Can a person make changes to the e-way bill? If yes, how many times can such changes be made?

Yes, changes can be made to the e-way bill during its validity. There’s no restriction on the number of times such changes can be made. It must be noted that changes are allowed only in Part B of... Read More

Goods and Service Tax 1 Answer
Is it possible to extend the validity of an e-way bill generated in FORM EWB – 01?

Yes, the validity of an e-way bill can be extended on the eway bill portal. Such changes can be made either 8 hours before the expiry of the e-way bill or after 8 hours of expiry of the e-way bill.... Read More

Goods and Service Tax 1 Answer
What is EBN? Who is responsible for allotting EBN?

EBN stands for e-way bill number generated by the common portal. It is a unique sequence of numbers made available to all the parties involved, i.e., the supplier, the recipient, and the transporter.

Goods and Service Tax 1 Answer
What is Composition Levy scheme?

To reduce compliance burdens and facilitate ease of business for small taxpayers, Composition Levy has been introduced by the GST law. Under this scheme, a taxpayer is required to file quarterly... Read More

Goods and Service Tax 1 Answer
Explain the term Casual Taxpayer Person as per the provisions of GST law and define the process to obtain GST registration as a Casual Taxable Person.

As per section 2 (20) of CGST Act 2017, Casual Taxable Person (CTP) is defined as a person who occasionally undertakes transactions involving supply of goods/services in the course or furtherance of... Read More

Goods and Service Tax 1 Answer
Suppose a taxpayer is having business operations in multiple states/union territories. Is he required to obtain GST registration in all the states, or he can operate under a single registration?

As per the provisions of Section 22 of CGST Act 2017, a taxpayer operating in multiple states is required to obtain registration in each state if his aggregate turnover on the same PAN in current FY... Read More

Goods and Service Tax 1 Answer
Suppose a taxpayer is having two business units within the same state/UT. One unit is in Special Economic Zone (SEZ) while the other is located outside the SEZ unit but within the same state. Is the taxpayer required to obtain separate GSTIN for these business units or a single GSTIN is sufficient for the purposes of GST law?

In accordance with section 25(1) of the CGST Act, a taxpayer, having a SEZ unit or being a SEZ developer, shall be required to apply for a separate GSTIN for its SEZ unit distinct from the unit... Read More

Goods and Service Tax 1 Answer
Explain the term “Input Service Distributors” as per the provisions of GST law. Is an ISD required to obtain a separate GSTIN from the existing GSTIN within the same state?

As per section 2(61) of the CGST Act 2017, Input Service Distributor is defined as an office meant to receive tax invoices on receipt of input services and further distribute ITC to supplier units... Read More

Goods and Service Tax 1 Answer
Define the term “Supply” as defined under the GST law and explain the scope of supply.

As per provisions & rules of GST law, supply can be defined as a taxable event of supply of goods & services, or both made for a consideration in the course or furtherance of business. The... Read More

Goods and Service Tax 1 Answer
How is import of goods treated under GST law?

As per section 5(1) of the IGST Act 2017, IGST and GST Compensation Cess shall be levied on import of goods in accordance with the provisions of Customs Act 1962 and Customs Tariff Act 1975 along... Read More

Goods and Service Tax 1 Answer
Explain the term “supply made in course or furtherance of business”.

As per section 2(17) of CGST Act 2017, business is defined as an activity which includes any trade, commerce, manufacture, profession, vocation, adventure, wager, or any other similar activity,... Read More

Goods and Service Tax 1 Answer
Suppose a supplier transfers an item from his stock in trade for personal use. Will this transfer constitute as supply as per GST law?

As per GST law, any permanent transfer or disposal of goods or business assets shall fall under the scope of supply if Input Tax Credit (ITC) has been availed on such goods or assets. This transfer... Read More

Goods and Service Tax 1 Answer
Define the term Zero Rated Supply as per GST law.

Zero Rated Supply covers exports of goods and/or services or supply of goods and/or services made to a SEZ unit or SEZ developer.

Goods and Service Tax 1 Answer
Explain the situations wherein Import of Service without consideration become taxable under GST.

As per section 7 of CGST Act 2017, import of services without consideration will not be considered as supply. However, imports of service without consideration shall become taxable, if such services... Read More

Goods and Service Tax 1 Answer
Discuss the compliances relating to ITC if goods are lost by fire, or distributed as samples, or transferred for personal use.

Clause “h” of section 17(5) of CGST Act 2017, provides an extensive list of ineligible ITCs for taxpayers. Accordingly, ITC on goods lost, stolen, destroyed, written off, or given off as... Read More

Goods and Service Tax 1 Answer
Is there any provision in the GST Act that allows refund of balance of ITC at the end of financial year?

No, taxpayers are not allowed to claim refund of input balances available at the end of financial year. These balances are carried forward to the next year.

Goods and Service Tax 1 Answer
Is there any time limit for claiming refunds of Input Tax Credit under the applicable provisions of GST law?

Yes, as per the applicable provisions, refunds of ITC shall be claimed within a period of 2 years from the relevant date. Relevant dates for supply of goods and/or services has been defined... Read More

Goods and Service Tax 1 Answer
What is meant by Exempt Supplies?

As per sections of GST law, exempt supplies mean supplies that attract nil rate of tax. It also covers supplies which have been made exempt from tax under the GST law, and it also includes... Read More

Goods and Service Tax 1 Answer
What is meant by Zero Rated Supplies?

As per sections of GST law, exports of goods and/or services and supply of goods and/or services to a SEZ unit fall under the definition of Zero-Rated Supplies. If a person is involved in the... Read More

Goods and Service Tax 1 Answer
What is Importer-Exporter Code (IEC)? Discuss the impacts of GST law on the IEC.

Importer-Exporter Code is an identification number allotted to businesses involved in the export and import related transactions. IEC has been made mandatory for persons involved in such transactions.

Goods and Service Tax 1 Answer
Is it compulsory for a taxpayer to file return by himself?

No. A registered taxpayer can also get his return filed through a Tax Return Preparer, duly approved by the Central or the State tax administration.

Goods and Service Tax 1 Answer
If a return has been filed, how can it be revised if some changes are required to be made?

In GST since the returns are built from details of individual transactions, there is no requirement for having a revised return. Any need to revise a return may arise due to the need to change a set... Read More

Goods and Service Tax 1 Answer
Is an Annual Return and a Final Return one and the same?

No. Annual Return has to be filed by every registered person paying tax as a normal taxpayer. Final Return has to be filed only by those registered persons who have applied for cancellation of... Read More

Goods and Service Tax 1 Answer
Whether the description of each item in the invoice will have to be uploaded?

No. In actuality, the description won't need to be uploaded. Only the HSN code for the provision of products and the accounting code for the delivery of services must be fed. The minimal number... Read More

Goods and Service Tax 1 Answer
Is the scanned copy of invoices to be uploaded along with GSTR-1?

Invoices is not required to be uploaded. Only certain prescribed fields of information from invoices need to be uploaded.

Goods and Service Tax 1 Answer
Can all liabilities be paid with ITC that has been granted provisionally?

No, the only use for a provisionally allowed ITC is to pay a return's self-assessed output tax.

Goods and Service Tax 1 Answer
Can a registered person receive ITC for products or services used in the construction of a structure for commercial use?

ITC on products or services provided by an individual for the building of real estate other than machinery and plant is not permitted. Plant and machinery only refers to items that are supported by a... Read More

Goods and Service Tax 1 Answer
Various factors might cause things to be lost or damaged at times. Can a person claim ITC for these items in full?

No, a person cannot claim ITC for items that were stolen, lost, destroyed, or written off. Additionally, ITC with regard to products given as presents or free samples is not permitted.  

Goods and Service Tax 1 Answer
When goods are sent to someone who is not a taxable person ('bill to'-'ship to' scenarios), who will receive the ITC?

When the items are given to a third party at the request of the taxpayer, it is assumed that the registered person has received the goods. So, the person on whose order the products are supplied to a... Read More

Goods and Service Tax 1 Answer
How would a registered person be eligible to ITC if goods for an invoice are received in lots or installments?

Only upon receipt of the last lot or installment, the registered person becomes eligible for the credit.

Goods and Service Tax 1 Answer
Is credit of all input tax charged on supply of goods or services allowed under GST?

Subject to further terms and circumstances, a registered person is allowed to claim an input tax credit for purchases of products or services that he uses or intends to use in the course or... Read More

Goods and Service Tax 1 Answer
Does input tax include tax (CGST/IGST/SGST) paid on input goods, input services and capital goods?

Yes, it includes taxes paid on input goods, input services and capital goods. Credit of tax paid on capital goods is permitted to be availed in one installment.  

Goods and Service Tax 1 Answer
Can GST paid on reverse charge basis be considered as input tax?

Yes. The definition of input tax includes the tax payable under the reverse charge.  

Goods and Service Tax 1 Answer
Is every e-commerce operator required to collect tax on behalf of actual supplier?

Yes, every e-commerce operator is required to collect tax in cases where they are receiving payment for the supply in relation to the consideration.  

Goods and Service Tax 1 Answer
What is meant by “net value of taxable supplies”?

The term "net value of taxable supplies" refers to the total amount of taxable supplies of goods or services, or both, made by all registered parties through the e-commerce operator during... Read More

Goods and Service Tax 1 Answer
Is it mandatory for e-commerce operator to obtain registration?

Yes. The benefit of threshold exemption is not available to e-commerce operators and they would be liable to be registered irrespective of the value of supply made by them.

Goods and Service Tax 1 Answer
What is a CIN and what is its relevance?

Challan Identification Number is referred to as CIN. It is a 17-digit number made up of a 3-digit bank code and a 14-digit CPIN. When a payment is actually received by one of these authorised banks... Read More

Goods and Service Tax 1 Answer
What is a CPIN?

CPIN is an acronym for the Common Portal Identification Number (CPIN) provided at the point the challan was generated. The challan's identification number is a 14-digit unique number. As... Read More

Goods and Service Tax 1 Answer
Is there a validity period of challan?

Yes, a challan will remain in effect for fifteen days after it is generated before being deleted from the system. The tax payer can, however, produce a new challan whenever he likes.

Goods and Service Tax 1 Answer
Can a challan generated online be modified?

No. The tax payer can save the challan for further updation but cannot modify the challan after generation of CPIN.

Goods and Service Tax 1 Answer
Can a tax payer generate challan in multiple sittings?

Yes, a taxpayer may begin filling out the challan form in part and then temporarily "save" it to finish it later. Prior to finalisation, a saved challan can be "modified." The tax... Read More

Goods and Service Tax 1 Answer
What is an ITC Ledger?

The ITC Ledger will record Input Tax Credit as self-assessed in monthly returns. Only taxes, not other amounts like interest, penalties, or fees, can be paid with the credit in this ledger.

Goods and Service Tax 1 Answer
What is a Cash Ledger?

All cash deposits and TDS/TCS made on the taxpayer's behalf are recorded in the cash ledger. Real-time updates will be made to the information. You can use this ledger to make any payment on... Read More

Goods and Service Tax 1 Answer
What is a tax liability register?

The overall tax due of a taxpayer for a given month will be shown in the Tax Liability Register (after netting).

Goods and Service Tax 1 Answer
What are E-Ledgers?

The statements of cash and input tax credit for each registered taxpayer are known as electronic ledgers, or E-Ledgers. Each taxpayer is also have an electronic tax liability register. 

Goods and Service Tax 1 Answer
What happens if the taxable person files the return but does not make payment of tax?

The return is not regarded as a proper return in such circumstances. Only the valid return will be taken into account when granting the receiver an input tax credit (ITC).

Goods and Service Tax 1 Answer
Are self-supplies taxable under GST?

Consignment sales, branch transfers, and other interstate self-supplies including stock transfers are all subject to the GST even though they don't always need payment of money in exchange.

Goods and Service Tax 1 Answer
What is the taxable event under GST?

The taxable event under GST shall be the supply of goods or services or both made for consideration in the course or furtherance of business.

Goods and Service Tax 1 Answer
Will there be any communication regarding the disposal of the application?

The GST common portal is required to notify the applicant through email and SMS if his registration request was approved or denied. At this point, the applicant would be informed of the... Read More

Goods and Service Tax 1 Answer
What will be the time limit for the decision on the on line registration application?

The State or Central Authorities shall approve or issue SCN (in case of any deficiencies or any further clarification required by proper officer) within 7 working days if they opt for Aadhar... Read More

Goods and Service Tax 1 Answer
Is there any facility for digital signature in the GSTN registration?

The alternative for tax payers to sign applications with certified digital signatures has been be provided. The application or other submissions would be able to be electronically signed using either... Read More

Goods and Service Tax 1 Answer
Whether the Registration granted to any person is permanent?

Yes, the registration certificate is permanent once issued until it is given up, revoked, suspended, or cancelled.

Goods and Service Tax 1 Answer
If a person is operating in different states, with the same PAN number, whether he can operate with a single Registration?

 No. Each person who is required to obtain a registration must register separately for each State in which he conducts business and is responsible for paying GST.

Goods and Service Tax 1 Answer
What will be the effective date of registration?

The effective date of registration shall be the date on which the person became subject to registration in cases where the application for registration has been made within thirty days of that... Read More

Goods and Service Tax 1 Answer
Can someone who has not registered for GST still claim ITC and collect tax?

No, a person who has not registered for GST is unable to collect GST from customers or to claim any input tax credits for GST that he has already paid.

Goods and Service Tax 1 Answer
Can composition tax be collected from customers?

No, the registered person under composition scheme is not permitted to collect tax.

Goods and Service Tax 1 Answer
Can the customer who buys from a registered person who is under the composition scheme claim composition tax as input tax credit?

No, because a composition scheme supplier cannot issue a tax invoice, a customer who purchases goods from a registered person under the composition scheme is not eligible for composition input tax... Read More

Goods and Service Tax 1 Answer
Can a person who is registered under the composition scheme claim an input tax credit?

No, registered person under composition scheme is not eligible to claim input tax credit.

Goods and Service Tax 1 Answer
What will be the implications in case of receipt of supply from unregistered persons?

If a registered person receives specified supply from an unregistered person, the registered person must pay tax under the reverse charge mechanism.

Goods and Service Tax 1 Answer
Is the reverse charge mechanism applicable only to services?

 No, reverse charge applies to supplies of both goods and services.  

Goods and Service Tax 1 Answer
What is meant by Reverse Charge?

It means that the recipient of such goods and services pays the tax liability rather than the supplier of such goods and services. It is applicable on supply of Goods and Services as specified.

Goods and Service Tax 1 Answer
What is meant by Reverse Charge?

It means that the recipient of such goods and services pays the tax liability rather than the supplier of such goods and services. It is applicable on supply of Goods and Services as specified.

Goods and Service Tax 1 Answer
How will Exports be treated under GST?

Exports will be taken into account as zero-rated supplies. No tax will be charged on exports of goods or services; however, an input tax credit will be available and will be refunded to exporters.... Read More

Goods and Service Tax 1 Answer
Which goods/sectors are out of the purview of GST?

Alcohol and certain petroleum products, such as petroleum crude, high speed diesel, motor spirit, aviation turbine fuel, and natural gas, are out of scope from GST. GST on Petroleum Product shall... Read More

Goods and Service Tax 1 Answer
Which existing taxes are proposed to be absorbed by GST?

The central taxes subsumed under CGST include: Central Excise duty Additional Excise duties Excise Duty levied under the Medicinal and Toiletries Preparation... Read More

Goods and Service Tax 1 Answer
What is the Goods and Services Tax (GST)?

It is a destination based tax on consumption of goods and services. It is proposed that it be levied at all stages, from manufacturing to final consumption, with setoff of credit of taxes paid at... Read More

Goods and Service Tax 1 Answer
Define the term Composite Supply under CGST/SGST/UTGST Act.

Composite Supply is defined as supply comprising of two or more taxable goods and/or services, or any combination thereof, which are naturally bundled and supplied in conjunction with each other in... Read More

Goods and Service Tax 1 Answer
Define the term Mixed Supply under CGST/SGST/UTGST Act.

Mixed Supply is defined as supply of two or more goods/services or any combination thereof, made in conjunction with each other by a taxable person for a single price, where such supply does not... Read More

Goods and Service Tax 1 Answer
Define the term “Time of Supply”.

Time of Supply can be defined as the point at which the liability to charge GST arises. It indicates a time at which a particular supply of goods and/or services is deemed to be made. The acts and... Read More

Goods and Service Tax 1 Answer
What is the prescribed time limit to issue invoice in case of supply of services as per section 31 of CGST/SGST Act?

As per section 31 of CGST/SGST Act, the taxpayer shall, before or after the provision of service, but within a period of 30 days from the date of supply of service, issue a tax invoice containing all... Read More

Goods and Service Tax 1 Answer
What is the prescribed time limit to issue invoice in case of continuous supply of goods as per section 31 of CGST/SGST Act?

Continuous supply of goods means supply wherein a supplier provides goods to the recipient on a continuous or recurring basis, under a contract. If successive statement of accounts or successive... Read More

Goods and Service Tax 1 Answer
Define the terms “Input Tax” and “Input Tax Credit”.

Input Tax means the Integrated Tax (IGST), Central Tax (CGST), State Tax (SGST), and Union Territory Tax (UTGST) charged on supply of goods and/or services made to a registered person. Taxes... Read More

Goods and Service Tax 1 Answer
Can a recipient avail Input Tax Credit without payment of consideration for the goods & services received?

Yes, the recipient of goods and/or services can avail input tax credit on such supply even if consideration is not paid. However, the recipient is required to make the payment along with tax amount... Read More

Goods and Service Tax 1 Answer
What happens if the recipient fails to discharge the consideration within 180 days of invoice date? Will he be eligible to reclaim the input tax credit after payment of consideration?

If the recipient of goods or service or both fails to make payment of consideration within 180 days of invoice date, he shall be required to add the Input Tax Credit (availed against such invoice) to... Read More

Goods and Service Tax 1 Answer
What is Goods and Services Tax and how is it levied?

Goods and Services Tax (GST) is a destination-based tax levied on consumption of Goods and Services. As per the applicable GST laws and rules, GST is meant to be levied at every stage of the... Read More

Goods and Service Tax 1 Answer
GST is often defined as “Destination-based tax”. What does this term mean?

GST is levied by the taxing authority located at the place where the goods are ultimately consumed and not the place where the goods originate, thereby earning the name “Destination-based... Read More

Goods and Service Tax 1 Answer
What items are exempted from GST or kept outside the purview of GST?

According to Article 366 of our Constitution, alcohol for human consumption is kept outside the purview of the GST law. Also, five petroleum products (namely, petroleum crude; motor spirit (petrol);... Read More

Goods and Service Tax 1 Answer
When is IGST levied on supply of goods and/or services?

As per the provisions of the GST laws, Integrated GST or IGST is levied and collected by the Centre on occasions of inter-state supply of goods and/or services. Inter-state supply of goods and/or... Read More

Goods and Service Tax 1 Answer
What is CGST/SGST levied on supply goods and/or services?

As per the provisions of the GST laws, Central GST (or IGST) and State GST (or SGST) are levied and collected by the Centre on occasions of intra-state supply of goods and/or services. Intra-state... Read More

Goods and Service Tax 1 Answer
What is e-way bill? How can a person generate e-way bill?

E-way bill is a document required to be carried by any person responsible for movement of goods having value of more than fifty thousand rupees. The provisions relating to e-way bills are carried in... Read More

Goods and Service Tax 1 Answer
Can a person cancel the e-way bill if goods are not being transported after generation of such e-way bill?

In situations where an e-way bill has been generated, but the goods are not being transported as per details provided in the e-way bill, such e-way bill can be cancelled through the common portal.... Read More

Goods and Service Tax 1 Answer
Can a person make changes to the e-way bill? If yes, how many times can such changes be made?

Yes, changes can be made to the e-way bill during its validity. There’s no restriction on the number of times such changes can be made. It must be noted that changes are allowed only in Part B of... Read More

Goods and Service Tax 1 Answer
Is it possible to extend the validity of an e-way bill generated in FORM EWB – 01?

Yes, the validity of an e-way bill can be extended on the eway bill portal. Such changes can be made either 8 hours before the expiry of the e-way bill or after 8 hours of expiry of the e-way bill.... Read More

Goods and Service Tax 1 Answer
What is EBN? Who is responsible for allotting EBN?

EBN stands for e-way bill number generated by the common portal. It is a unique sequence of numbers made available to all the parties involved, i.e., the supplier, the recipient, and the transporter.

Goods and Service Tax 1 Answer
What is Composition Levy scheme?

To reduce compliance burdens and facilitate ease of business for small taxpayers, Composition Levy has been introduced by the GST law. Under this scheme, a taxpayer is required to file quarterly... Read More

Goods and Service Tax 1 Answer
Explain the term Casual Taxpayer Person as per the provisions of GST law and define the process to obtain GST registration as a Casual Taxable Person.

As per section 2 (20) of CGST Act 2017, Casual Taxable Person (CTP) is defined as a person who occasionally undertakes transactions involving supply of goods/services in the course or furtherance of... Read More

Goods and Service Tax 1 Answer
Suppose a taxpayer is having business operations in multiple states/union territories. Is he required to obtain GST registration in all the states, or he can operate under a single registration?

As per the provisions of Section 22 of CGST Act 2017, a taxpayer operating in multiple states is required to obtain registration in each state if his aggregate turnover on the same PAN in current FY... Read More

Goods and Service Tax 1 Answer
Suppose a taxpayer is having two business units within the same state/UT. One unit is in Special Economic Zone (SEZ) while the other is located outside the SEZ unit but within the same state. Is the taxpayer required to obtain separate GSTIN for these business units or a single GSTIN is sufficient for the purposes of GST law?

In accordance with section 25(1) of the CGST Act, a taxpayer, having a SEZ unit or being a SEZ developer, shall be required to apply for a separate GSTIN for its SEZ unit distinct from the unit... Read More

Goods and Service Tax 1 Answer
Explain the term “Input Service Distributors” as per the provisions of GST law. Is an ISD required to obtain a separate GSTIN from the existing GSTIN within the same state?

As per section 2(61) of the CGST Act 2017, Input Service Distributor is defined as an office meant to receive tax invoices on receipt of input services and further distribute ITC to supplier units... Read More

Goods and Service Tax 1 Answer
Define the term “Supply” as defined under the GST law and explain the scope of supply.

As per provisions & rules of GST law, supply can be defined as a taxable event of supply of goods & services, or both made for a consideration in the course or furtherance of business. The... Read More

Goods and Service Tax 1 Answer
How is import of goods treated under GST law?

As per section 5(1) of the IGST Act 2017, IGST and GST Compensation Cess shall be levied on import of goods in accordance with the provisions of Customs Act 1962 and Customs Tariff Act 1975 along... Read More

Goods and Service Tax 1 Answer
Explain the term “supply made in course or furtherance of business”.

As per section 2(17) of CGST Act 2017, business is defined as an activity which includes any trade, commerce, manufacture, profession, vocation, adventure, wager, or any other similar activity,... Read More

Goods and Service Tax 1 Answer
Suppose a supplier transfers an item from his stock in trade for personal use. Will this transfer constitute as supply as per GST law?

As per GST law, any permanent transfer or disposal of goods or business assets shall fall under the scope of supply if Input Tax Credit (ITC) has been availed on such goods or assets. This transfer... Read More

Goods and Service Tax 1 Answer
Define the term Zero Rated Supply as per GST law.

Zero Rated Supply covers exports of goods and/or services or supply of goods and/or services made to a SEZ unit or SEZ developer.

Goods and Service Tax 1 Answer
Explain the situations wherein Import of Service without consideration become taxable under GST.

As per section 7 of CGST Act 2017, import of services without consideration will not be considered as supply. However, imports of service without consideration shall become taxable, if such services... Read More

Goods and Service Tax 1 Answer
Discuss the compliances relating to ITC if goods are lost by fire, or distributed as samples, or transferred for personal use.

Clause “h” of section 17(5) of CGST Act 2017, provides an extensive list of ineligible ITCs for taxpayers. Accordingly, ITC on goods lost, stolen, destroyed, written off, or given off as... Read More

Goods and Service Tax 1 Answer
Is there any provision in the GST Act that allows refund of balance of ITC at the end of financial year?

No, taxpayers are not allowed to claim refund of input balances available at the end of financial year. These balances are carried forward to the next year.

Goods and Service Tax 1 Answer
Is there any time limit for claiming refunds of Input Tax Credit under the applicable provisions of GST law?

Yes, as per the applicable provisions, refunds of ITC shall be claimed within a period of 2 years from the relevant date. Relevant dates for supply of goods and/or services has been defined... Read More

Goods and Service Tax 1 Answer
What is meant by Exempt Supplies?

As per sections of GST law, exempt supplies mean supplies that attract nil rate of tax. It also covers supplies which have been made exempt from tax under the GST law, and it also includes... Read More

Goods and Service Tax 1 Answer
What is meant by Zero Rated Supplies?

As per sections of GST law, exports of goods and/or services and supply of goods and/or services to a SEZ unit fall under the definition of Zero-Rated Supplies. If a person is involved in the... Read More

Goods and Service Tax 1 Answer
What is Importer-Exporter Code (IEC)? Discuss the impacts of GST law on the IEC.

Importer-Exporter Code is an identification number allotted to businesses involved in the export and import related transactions. IEC has been made mandatory for persons involved in such transactions.

Goods and Service Tax 1 Answer
Is it compulsory for a taxpayer to file return by himself? If a return has been filed, how can it be revised if some changes are required to be made? Is an Annual Return and a Final Return one and the same? Whether the description of each item in the invoice will have to be uploaded? Is the scanned copy of invoices to be uploaded along with GSTR-1? Can all liabilities be paid with ITC that has been granted provisionally? Can a registered person receive ITC for products or services used in the construction of a structure for commercial use? Various factors might cause things to be lost or damaged at times. Can a person claim ITC for these items in full? When goods are sent to someone who is not a taxable person ('bill to'-'ship to' scenarios), who will receive the ITC? How would a registered person be eligible to ITC if goods for an invoice are received in lots or installments? Is credit of all input tax charged on supply of goods or services allowed under GST? Does input tax include tax (CGST/IGST/SGST) paid on input goods, input services and capital goods? Can GST paid on reverse charge basis be considered as input tax? Is every e-commerce operator required to collect tax on behalf of actual supplier? What is meant by “net value of taxable supplies”? Is it mandatory for e-commerce operator to obtain registration? What is a CIN and what is its relevance? What is a CPIN? Is there a validity period of challan? Can a challan generated online be modified? Can a tax payer generate challan in multiple sittings? What is an ITC Ledger? What is a Cash Ledger? What is a tax liability register? What are E-Ledgers? What happens if the taxable person files the return but does not make payment of tax? Are self-supplies taxable under GST? What is the taxable event under GST? Will there be any communication regarding the disposal of the application? What will be the time limit for the decision on the on line registration application? Is there any facility for digital signature in the GSTN registration? Whether the Registration granted to any person is permanent? If a person is operating in different states, with the same PAN number, whether he can operate with a single Registration? What will be the effective date of registration? Can someone who has not registered for GST still claim ITC and collect tax? Can composition tax be collected from customers? Can the customer who buys from a registered person who is under the composition scheme claim composition tax as input tax credit? Can a person who is registered under the composition scheme claim an input tax credit? What will be the implications in case of receipt of supply from unregistered persons? Is the reverse charge mechanism applicable only to services? What is meant by Reverse Charge? What is meant by Reverse Charge? How will Exports be treated under GST? Which goods/sectors are out of the purview of GST? Which existing taxes are proposed to be absorbed by GST? What is the Goods and Services Tax (GST)? Define the term Composite Supply under CGST/SGST/UTGST Act. Define the term Mixed Supply under CGST/SGST/UTGST Act. Define the term “Time of Supply”. What is the prescribed time limit to issue invoice in case of supply of services as per section 31 of CGST/SGST Act? What is the prescribed time limit to issue invoice in case of continuous supply of goods as per section 31 of CGST/SGST Act? Define the terms “Input Tax” and “Input Tax Credit”. Can a recipient avail Input Tax Credit without payment of consideration for the goods & services received? What happens if the recipient fails to discharge the consideration within 180 days of invoice date? Will he be eligible to reclaim the input tax credit after payment of consideration? What is Goods and Services Tax and how is it levied? GST is often defined as “Destination-based tax”. What does this term mean? What items are exempted from GST or kept outside the purview of GST? When is IGST levied on supply of goods and/or services? What is CGST/SGST levied on supply goods and/or services? What is e-way bill? How can a person generate e-way bill? Can a person cancel the e-way bill if goods are not being transported after generation of such e-way bill? Can a person make changes to the e-way bill? If yes, how many times can such changes be made? Is it possible to extend the validity of an e-way bill generated in FORM EWB – 01? What is EBN? Who is responsible for allotting EBN? What is Composition Levy scheme? Explain the term Casual Taxpayer Person as per the provisions of GST law and define the process to obtain GST registration as a Casual Taxable Person. Suppose a taxpayer is having business operations in multiple states/union territories. Is he required to obtain GST registration in all the states, or he can operate under a single registration? Suppose a taxpayer is having two business units within the same state/UT. One unit is in Special Economic Zone (SEZ) while the other is located outside the SEZ unit but within the same state. Is the taxpayer required to obtain separate GSTIN for these business units or a single GSTIN is sufficient for the purposes of GST law? Explain the term “Input Service Distributors” as per the provisions of GST law. Is an ISD required to obtain a separate GSTIN from the existing GSTIN within the same state? Define the term “Supply” as defined under the GST law and explain the scope of supply. How is import of goods treated under GST law? Explain the term “supply made in course or furtherance of business”. Suppose a supplier transfers an item from his stock in trade for personal use. Will this transfer constitute as supply as per GST law? Define the term Zero Rated Supply as per GST law. Explain the situations wherein Import of Service without consideration become taxable under GST. Discuss the compliances relating to ITC if goods are lost by fire, or distributed as samples, or transferred for personal use. Is there any provision in the GST Act that allows refund of balance of ITC at the end of financial year? Is there any time limit for claiming refunds of Input Tax Credit under the applicable provisions of GST law? What is meant by Exempt Supplies? What is meant by Zero Rated Supplies? What is Importer-Exporter Code (IEC)? Discuss the impacts of GST law on the IEC.

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