The document discusses provisions in the GST law related to e-commerce. It outlines requirements for e-commerce operators, including mandatory registration, collecting a 1% tax on supplies made through their platform, and filing monthly returns providing details of supplies. It also discusses requirements for suppliers on e-commerce platforms, such as mandatory registration, ineligibility for the composition scheme, and filing monthly returns providing supply details to be reconciled with the operator's returns. Discrepancies must be rectified in future returns to ensure accurate tax collection and credits.
Ecommerce website is the best available option for business aspirants to enter into a better business world and get success in the future. As the world is moving more into the digital realm every day, to retain a competitive edge is necessary to meet shifting market dynamics and customer demands.
The coming GST law in India will have wide ranging impact on E-Commerce in India. This PPT analysis the problems of E commerce under present indirect tax regime as also impact of Model GST law
TransPrice Times - 1st - 15th December 2017Akshay KENKRE
Dear Members,
We are pleased to present TransPrice Times for the first fortnight of December 2017.
This periodical covers key court rulings on the right to use multiple year data, foreign exchange gain / loss, segregation of interlinked business activity in transfer pricing, and outstanding receivables from related party. Apart from this, recent news relating to OECD's 2017 Model Tax Convention, which are commentaries of tax treaties including BEPS changes, has been discussed in the periodical.
Thank You and Happy Reading!!
Goods and Services Tax (GST) is a tax reform that will eliminate India’s major indirect taxes – Excise, Service Tax, and VAT. However, record-keeping and reporting requirements under GST contain elements from each of these, and they are far from simple.
Presentation provides an overview of India’s GST registration process.
To learn more about how Avalara can help you with GST
automation, contact us through https://www.avalara.com/in/products/gst-calculation/
Ecommerce website is the best available option for business aspirants to enter into a better business world and get success in the future. As the world is moving more into the digital realm every day, to retain a competitive edge is necessary to meet shifting market dynamics and customer demands.
The coming GST law in India will have wide ranging impact on E-Commerce in India. This PPT analysis the problems of E commerce under present indirect tax regime as also impact of Model GST law
TransPrice Times - 1st - 15th December 2017Akshay KENKRE
Dear Members,
We are pleased to present TransPrice Times for the first fortnight of December 2017.
This periodical covers key court rulings on the right to use multiple year data, foreign exchange gain / loss, segregation of interlinked business activity in transfer pricing, and outstanding receivables from related party. Apart from this, recent news relating to OECD's 2017 Model Tax Convention, which are commentaries of tax treaties including BEPS changes, has been discussed in the periodical.
Thank You and Happy Reading!!
Goods and Services Tax (GST) is a tax reform that will eliminate India’s major indirect taxes – Excise, Service Tax, and VAT. However, record-keeping and reporting requirements under GST contain elements from each of these, and they are far from simple.
Presentation provides an overview of India’s GST registration process.
To learn more about how Avalara can help you with GST
automation, contact us through https://www.avalara.com/in/products/gst-calculation/
E-commerce GST - Get the detailed information on applicability of GST on E-commerce, Services listed under section 9(5), Registration of ECO, Liability to Pay GST in case of ECO, Place of supply of services, Applicability of TCS. For latest updates on GST you can start your 7 days free trial now: http://bit.ly/2zB0jd1
Implementation of Goods and Services Tax (GST), scheduled to take place beginning July 1, 2017.In the system of GST India GSP and ASP are playing bigger role .In the slide you can find what is GSP ,ASP and also other related information to GSPs and ASPs.
For your GST Compliance automation needs,
Call us today at 1800-270-2875 or
Visit us at www.avalara.com/in/
The e-commerce boom was marked by multiple players, rosy valuations and now slowly reality has set in and the price wars have taken their toll. The VAT authorities across the country have had their tryst with this industry with notices, demands, levy of entry tax and litigation. Currently whenever there is a tax or a business problem, the immediate response from the industry or the administrator or the media is that GST is the only solution.
Find out the detailed explanation of the provisions related to E-commerce under the dual GST Law for the efficient tax administration from the presentation. Give it a read and we would love to know your feedback!
An invoice is the primary document used to assess the levy of any tax related to the transfer of goods or services. Under the new Goods and Services Tax (GST) regime, government is implementing a new, comprehensive invoicing format that should facilitate the computation of taxes on invoiced goods or services
GST Procedure for e-commerce operators. Basic understanding and applicability of GST and its provisions to E-commerce operators. Applicable for supplier as well as e-commerce operators.
SAVIC belongs to a team of technocrats qualified in SAP S/4 HANA who draw their collective experience from hundred plus successful implementations globally in diverse industry verticals. SAVIC in value proposition represents the aggregate skill set of each team player, the pinnacle being 76 days go live with SAP best practices, 56 Days successful quick upgrade, 90 Days GO LIVE SAP ECC 6.0 EHP7 Retail Implementation, 99 Days GO LIVE of SAP S/4HANA 1610 RealEstate@SAVI Partner Qualified Solution- First in INDIA.
Indian Cable Net Co. Ltd presents GST Guide for LCOs registration, returns, payment and penalty for non-compliance under GST Act, 2017. This presentation is exclusively a property of ICNCL and no part of it can be reproduced and copied, with accrediting the source.
GST is an Indirect Tax which has replaced many Indirect Taxes in India.
The Act came into effect on 1st July 2017.
Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
GST REGISTRATION
Pre 1st July 2017, a manufacturer, trader, retailer or any other business was filing returns in respect of various compliances – Excise, VAT, Service Tax, Sales Tax, Income Tax etc. with separate returns for each of them. A continuous process of filing returns – monthly, quarterly, half-yearly and yearly existed and businesses were kept occupied throughout the year by filing one or the other return.
E-commerce GST - Get the detailed information on applicability of GST on E-commerce, Services listed under section 9(5), Registration of ECO, Liability to Pay GST in case of ECO, Place of supply of services, Applicability of TCS. For latest updates on GST you can start your 7 days free trial now: http://bit.ly/2zB0jd1
Implementation of Goods and Services Tax (GST), scheduled to take place beginning July 1, 2017.In the system of GST India GSP and ASP are playing bigger role .In the slide you can find what is GSP ,ASP and also other related information to GSPs and ASPs.
For your GST Compliance automation needs,
Call us today at 1800-270-2875 or
Visit us at www.avalara.com/in/
The e-commerce boom was marked by multiple players, rosy valuations and now slowly reality has set in and the price wars have taken their toll. The VAT authorities across the country have had their tryst with this industry with notices, demands, levy of entry tax and litigation. Currently whenever there is a tax or a business problem, the immediate response from the industry or the administrator or the media is that GST is the only solution.
Find out the detailed explanation of the provisions related to E-commerce under the dual GST Law for the efficient tax administration from the presentation. Give it a read and we would love to know your feedback!
An invoice is the primary document used to assess the levy of any tax related to the transfer of goods or services. Under the new Goods and Services Tax (GST) regime, government is implementing a new, comprehensive invoicing format that should facilitate the computation of taxes on invoiced goods or services
GST Procedure for e-commerce operators. Basic understanding and applicability of GST and its provisions to E-commerce operators. Applicable for supplier as well as e-commerce operators.
SAVIC belongs to a team of technocrats qualified in SAP S/4 HANA who draw their collective experience from hundred plus successful implementations globally in diverse industry verticals. SAVIC in value proposition represents the aggregate skill set of each team player, the pinnacle being 76 days go live with SAP best practices, 56 Days successful quick upgrade, 90 Days GO LIVE SAP ECC 6.0 EHP7 Retail Implementation, 99 Days GO LIVE of SAP S/4HANA 1610 RealEstate@SAVI Partner Qualified Solution- First in INDIA.
Indian Cable Net Co. Ltd presents GST Guide for LCOs registration, returns, payment and penalty for non-compliance under GST Act, 2017. This presentation is exclusively a property of ICNCL and no part of it can be reproduced and copied, with accrediting the source.
GST is an Indirect Tax which has replaced many Indirect Taxes in India.
The Act came into effect on 1st July 2017.
Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
GST REGISTRATION
Pre 1st July 2017, a manufacturer, trader, retailer or any other business was filing returns in respect of various compliances – Excise, VAT, Service Tax, Sales Tax, Income Tax etc. with separate returns for each of them. A continuous process of filing returns – monthly, quarterly, half-yearly and yearly existed and businesses were kept occupied throughout the year by filing one or the other return.
This is about the understanding of the provisions applicable in GST. This Presentation talks about the complete practical understanding. There is a series of presentation available but for now we are providing our first PPT free of cost.
Maintenance of Accounts and Records, GST compliances and process of GST return filings. Type of Return under GST. Return under CGST, SGST, IGST. GSTR1, GSTR2, GSTR3,
Presentation of Taxmann's Webinar on New GST Return System for Small Taxpaye...Taxmann
In this Webinar, Sunil Kumar & Deepali Mishra have shared an overview on the New GST Return System for Taxpayers effective from 01.01.2021, and its impacts on Indian Businesses.
Coverage of the Webinar:
1. Existing GST Return System
• Existing GST Return System
• Details of E-invoices in Form GSTR-1
2. All About Quarterly Return Monthly Payment (‘QRMP’) Scheme
• QRMP Scheme
• About Invoice Furnishing Facility (‘IFF’)
• Payment of Tax under QRMP Scheme
• Interest and Late Fees
• Due Dates under QRMP Scheme
• Manner of Availment and Non-Availment of scheme
• Illustrations on opting in and opting out
3. New GST Return System Small Taxpayers
• New Return System-Small taxpayers (QRMP Scheme)
4. GST Return System Other Taxpayers
• New Return System - Other Taxpayers
The chapter consists of Computation of Tax Liability and Payment of Tax; Interest on Delayed Payment of Tax; Refund of Tax; Tax Deduction at Source (TDS); Collection of Tax at Source (TCS); Computation of Interest on Delayed Payment of Tax. Composition scheme, eligible tax payers, turn over limit in case of composition scheme. Eligibility for composition scheme, person not eligible to opt composition scheme, conditions for availing composition scheme, advantages and disadvantages of composition scheme, computation of tax liability, Interest on delayed payment of tax,
Refund of Tax: Usually when the GST paid is more than the GST liability a situation of claiming GST refund arises. Under GST the process of claiming a refund is standardized to avoid confusion. The process is online and time limits have also been set for the same.
When can the refund be claimed?
There are many cases where refund can be claimed. Here are some of them – Excess payment of tax is made due to mistake or omission.
Dealer Exports (including deemed export) goods/services under claim of rebate or Refund
ITC accumulation due to output being tax exempt or nil-rated
Refund of tax paid on purchases made by Embassies or UN bodies
Tax Refund for International Tourists
Finalization of provisional assessment
How to calculate GST refund?
Let’s take a simple case of excess tax payment made. Mr. B’s GST liability for the month of September is Rs 50000. But due to mistake, Mr. B made a GST payment of Rs 5 lakh. Now Mr. B has made an excess GST payment of Rs 4.5 lakh which can be claimed as a refund by him. The time limit for claiming the refund is 2 years from the date of payment.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
chapter 10 - excise tax of transfer and business taxation
Gst alert ii provision in gst with respect to e commerce
1. TAX ALERT
ALERT TOPIC
Alert 02/2017
This image cannot currently be displayed.
A-81,Ground Floor, Sector
4, Noida-201301.
team@ecapartners.in
PROVISION IN GST WITH
RESPECT TO E - COMMERCE
2. TAX ALERT
ALERT TOPIC
Alert 02/2017
A-81,Ground Floor, Sector
4, Noida-201301.
team@ecapartners.in
Electronic Commerce or e-commerce has transformed the way business is done in India. Currently, the e-
commerce industry in India is faced with the levy of multiple taxes. Every state has imposed its own set of
rules and taxes on the e-commerce industry. The lack of clarity on the tax treatment of the various types of
e-commerce transactions, and new aspects such as e-wallet and cashbacks, has resulted in a chaotic tax
environment for the industry.
E-commerce firms are looking forward to the implementation of GST in the hope of greater clarity, and
removal of state specific rules and levies. The draft Model GST Law recognizes the need for rules specific
to the e-commerce industry. In this presentation, we will look at the specific provisions with respect to e-
commerce in GST.
• The e-commerce operator and
• Suppliers on e-commerce platforms
E-Commerce Operator
An e-commerce operator is a person who owns, operates or manages digital or electronic facility or platform
for electronic commerce. The requirements from an e-commerce operator under GST are-
1. Mandatory registration
All e-commerce operators are mandatorily required to register under GST. This means that irrespective of
their turnover, they must register under GST.
3. TAX ALERT
ALERT TOPIC
Alert 02/2017
A-81,Ground Floor, Sector
4, Noida-201301.
team@ecapartners.in
2. Tax to be paid by e-commerce operator on notified services
Certain service categories may be notified, on supply of which, tax shall be paid by the e-commerce
operator, and not the supplier. In this respect,
• If the e-commerce operator does not have an establishment in a state, any person representing the e-
commerce operator for any purpose in the state will be liable to pay the tax
• If the e-commerce operator does not have an establishment in a state, and also does not have a
representative in the state, the e- commerce operator should appoint a person in the state for the purpose
of paying tax, and this person shall be liable to pay the tax.
3. E-commerce operator has to collect tax at source
Every e-commerce operator should collect tax @ 1% on the net value of taxable supplies made through their
platform, where the consideration, with respect to such supplies, has to be collected by the operator.
Example: X Limited is an e-commerce operator. Y and Z are suppliers on X. The following supplies are
made on X in October ’17
Outward Supply register of X
Supplier Taxable supply Taxable supply return Net taxable supply Tax collected @ 1%
Y 100 10 90 .90
Z 200 20 180 1.80
Total 300 30 270 2.70
4. TAX ALERT
ALERT TOPIC
Alert 02/2017
A-81,Ground Floor, Sector
4, Noida-201301.
team@ecapartners.in
4. Returns and tax payment process
• On 10th of a month, an e-commerce operator has to furnish Form GSTR-8 containing details of outward
supplies made through the platform in the previous month, including supplies returned. In Form GSTR-
8, invoice-wise details of supplies to registered taxable persons and aggregate value of supplies to
unregistered persons must be provided. The e-commerce operator also has to pay the tax collected from
suppliers.
On November 10, 2017, X Limited furnishes Form GSTR 8 showing net taxable supplies made through
the platform of Rs. 270. They also pay Rs. 2.70 as tax collected from suppliers
November
10
2017
Form GSTR - 8GSTN
X
Limited
Net Taxable
supplies Rs
270
Pay tax
collected from
suppliers Rs.
2.70
5. TAX ALERT
ALERT TOPIC
Alert 02/2017
A-81,Ground Floor, Sector
4, Noida-201301.
team@ecapartners.in
• On 21st of a month, any discrepancy between supplies reported by the e-commerce operator and
suppliers on the platform is made available in Form GST ITC-1. The discrepancy must be rectified in the
return for the month in which it is communicated. In the above example, X Limited furnishes Form
GSTR-8 for October’s supplies on 10th November ’17. If a discrepancy is reported in Form GST ITC-1
on 21st November ‘17, it must be rectified in the return for November ’17, to be filed on 10th December
’17.
Suppliers on e-commerce platforms
1. Mandatory registration
All suppliers on e- commerce platforms are mandatorily required to register under GST. Hence, even e-
commerce suppliers whose aggregate turnover does not exceed the threshold limit for registration will have
to compulsorily register
2. Non-eligibility for Composition Scheme
A person who supplies goods or services through an e-commerce operator will not be eligible for
registration under composition Scheme. Hence, even if the person’s aggregate turnover does not cross Rs. 75
Lakhs, he/she does not have the option to become a composition tax payer.
3. Returns process
• On 10th of a month, a supplier has to furnish Form GSTR-1 containing details of outward supplies made
through e-commerce platforms. In Form GSTR-1, invoice-wise details of supplies to registered taxable
persons and aggregate value of supplies to unregistered persons made through the e-commerce platform
must be provided.
6. TAX ALERT
ALERT TOPIC
Alert 02/2017
A-81,Ground Floor, Sector
4, Noida-201301.
team@ecapartners.in
• On 11th of a month, Form GSTR-2A will be made available to the supplier. The aggregate amount of tax
collected by e-commerce operators in the previous month will be auto populated, based on Form GSTR-
8 filed by the e-commerce operators.
On November 10, 2017, Y & Z furnishes Form GSTR 1 showing net taxable supplies made through the X
Limited
GSTN
November
10
2017
Form GSTR - 1
Net Taxable
supplies Rs 90
Net Taxable
supplies Rs
180
Y
Limited
Z
Limited
7. TAX ALERT
ALERT TOPIC
Alert 02/2017
A-81,Ground Floor, Sector
4, Noida-201301.
team@ecapartners.in
On November 11, 2017, Form GSTR 2A is made available to Y & Z. In form GSTR 2A, aggregate
amount of tax collected by X limited will be auto populated, based on Form GSTR 8 filled by X Limited
GSTN
November
11
2017
Form GSTR – 2A
Tax credit
received Rs.
.90
Tax credit
received Rs.
1.80
Y
Limited
Z
Limited
X Limited
Form GSTR 8
8. TAX ALERT
ALERT TOPIC
Alert 02/2017
A-81,Ground Floor, Sector
4, Noida-201301.
team@ecapartners.in
• On 15th of a month, a supplier has to furnish Form GSTR-2, in which the details of tax collected by the
e-commerce operator can be accepted or modified. The tax collected will be credited to the supplier’s
electronic cash ledger on provisional basis, which can be set-off against the tax liability
• On 21st of a month, Form GST ITC-1 is made available to a supplier. Any discrepancy in supplies
furnished with supplies reported by the e-commerce operator will be shown. The discrepancy must be
rectified in the return for the month in which it is communicated. If not rectified and the value of
supplies furnished by the operator is more than the value furnished by the supplier, the differential
amount along with interest will be added to the tax liability of the supplier for the succeeding month.
In the above example, Y Limited furnishes Form GSTR-1 for October’s supplies on 10th November ’17.
If a discrepancy is reported in Form GST ITC-1 on 21st November ‘17, it must be rectified in the return
for November ’17, to be filed on 10th December ’17.
If you have any query with regard to GST, We are happy to help you any time.
Best Regards
ECA Team