September 2017

E-Commerce GST Applicability E-commerce Operator: 1)Section 2(45):- An e-commerce operator : is a person who owns, operates or manages digital or electronic facility or platform for electronic commerce.  2) Section 2(44) Electronic Commerce: “electronic commerce” means the supply of goods or services or both, including digital products over digital or…

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ANNUAL COMPLIANCE FILING BASED COMPLIANCE Section 92 (Annual Return)- Every Company shall prepare its Annual Return in Form MGT-7 within 60 days of holding Annual General Meeting. Signing Provision- Annual Return shall be digitally signed by a Director and the Company Secretary; or where there is no Company Secretary by…

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Invoicing under GST GST defines a transaction as ‘Supply’ when there is a transfer, exchange, rental, lease, barter, disposal or license of goods or services. Whenever a transaction takes place, a tax invoice has to be issued depending on the occurrence of any such event or within a prescribed time…

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Input Tax Credit a) Input Tax Credit (ITC) is the backbone of the GST regime. b) GST is nothing but a value added tax on goods & services combined. c) It is these provisions of Input Tax Credit that make GST a value added tax i.e.,  collection of tax at all…

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