1. presentation on input tax credit under gstNarayan Lodha
GST, Goods And Service Tax, Basic Concept and Principals of Input Credit under GST, Availability of ITC in Special cases, ITC- Input Service Distributor, Electronic Cash Ledger, Electronic Credit Ledger, Refund of Tax under GST
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July, 2017 which was one of the most important reforms in the Indian Economy. GST is payable on the supply of goods or services. In this webinar, we will be able to understand and analyse the provisions related to time and value of supply under GST.
The following Presentation enumerates the various provisions w.r.t. ITC, how it can be used,eligibilty and conditions for claiming ITC along with various case studies and illustrations. further, it elaborates the concept of input service distributor.
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July, 2017 which was one of the most important reforms in the Indian Economy. Unlike erstwhile indirect tax regime, GST promises seamless credit on goods and services across the entire supply chain with some exceptions. In this webinar, we shall understand and analyse the provisions related to Input Tax Credit under the GST law
this presentation consists of the information abou TDS ans TCS and their implications under GST. It also includes the differnce between both the terms.
1. presentation on input tax credit under gstNarayan Lodha
GST, Goods And Service Tax, Basic Concept and Principals of Input Credit under GST, Availability of ITC in Special cases, ITC- Input Service Distributor, Electronic Cash Ledger, Electronic Credit Ledger, Refund of Tax under GST
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July, 2017 which was one of the most important reforms in the Indian Economy. GST is payable on the supply of goods or services. In this webinar, we will be able to understand and analyse the provisions related to time and value of supply under GST.
The following Presentation enumerates the various provisions w.r.t. ITC, how it can be used,eligibilty and conditions for claiming ITC along with various case studies and illustrations. further, it elaborates the concept of input service distributor.
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July, 2017 which was one of the most important reforms in the Indian Economy. Unlike erstwhile indirect tax regime, GST promises seamless credit on goods and services across the entire supply chain with some exceptions. In this webinar, we shall understand and analyse the provisions related to Input Tax Credit under the GST law
this presentation consists of the information abou TDS ans TCS and their implications under GST. It also includes the differnce between both the terms.
Your guide on the most crucial pillar of GST - Input Tax Credit.
We hope this guide can help you understand the contours of Input Tax credit with regard what you are eligible for and what is explicitly denied in the law.
GST is a vast subject. Some feel that the goods rates have increased whereas some feel its reduced & some are confused thinking that how are they benefited from the implementation of GST
Brief presentation on GSTR -2B along with screenshots from the GST Portal.Ramandeep Bhatia
GSTR 2B is a static ITC statement which provides information regarding ITC available on the basis of returns filed by a supplier. Prepared a brief presentation on the subject along with screenshots from the GST Portal.
OBJECTIVE
Goods and Services Tax (GST) is the Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. GST subsumed various indirect laws in the country and the led to the formation of a common national market. In this webinar, we shall examine and understand the various registrations under the GST Law.
OBJECTIVE
The place of supply in GST determines the taxable jurisdiction where the tax should reach and ascertains whether the supply is inter-state supply or intra-state supply. This webinar shall deal with the place of supply with regards to various types of goods and services. It shall also throw some light on the valuation criteria in certain cases.
Overview of Returns in GST, steps to file returns in GST India, Number of returns in GST, Due date for filing returns in GST India, Late Filing Fee in GST, Procedure to File Returns in GST etc.
Your guide on the most crucial pillar of GST - Input Tax Credit.
We hope this guide can help you understand the contours of Input Tax credit with regard what you are eligible for and what is explicitly denied in the law.
GST is a vast subject. Some feel that the goods rates have increased whereas some feel its reduced & some are confused thinking that how are they benefited from the implementation of GST
Brief presentation on GSTR -2B along with screenshots from the GST Portal.Ramandeep Bhatia
GSTR 2B is a static ITC statement which provides information regarding ITC available on the basis of returns filed by a supplier. Prepared a brief presentation on the subject along with screenshots from the GST Portal.
OBJECTIVE
Goods and Services Tax (GST) is the Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. GST subsumed various indirect laws in the country and the led to the formation of a common national market. In this webinar, we shall examine and understand the various registrations under the GST Law.
OBJECTIVE
The place of supply in GST determines the taxable jurisdiction where the tax should reach and ascertains whether the supply is inter-state supply or intra-state supply. This webinar shall deal with the place of supply with regards to various types of goods and services. It shall also throw some light on the valuation criteria in certain cases.
Overview of Returns in GST, steps to file returns in GST India, Number of returns in GST, Due date for filing returns in GST India, Late Filing Fee in GST, Procedure to File Returns in GST etc.
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July, 2017 which was one of the most important reforms in the Indian Economy. Timely refund mechanism is essential in tax administration, as it facilitates trade through the release of blocked funds for working capital, expansion and modernisation of existing business. In this webinar, we shall understand and analyse the provisions related to Refund under the GST law.
Transitional provisions and CTD draft rules under GST in Indiasanjay gupta
Transitional provisions and rules notified in GST in India for migration and availing credits on stock in hand and draft rules for CTD ( Credit transfer document)
Input tax credit & matching with return under gstNikhil Malaiyya
Input tax credit under GST, Matching with return under GST, Annual Return, Final Return, Monthly return, late filing fees under GST, Transitional Provision
Tax refund includes refund of tax on goods and/or services exported out of India or on inputs or input services used in the goods and/or services which are exported outside India, or refund of tax on the supply of goods regarded as deemed exports, or refund of unutilized input tax credit as provided under section 38(2).
Transitional provisions-under GST in Indiasanjay gupta
Coming July,1 2017 GST will be implemented in India. Transitional phase will be very painful for Registered dealers. This presentation deals with the Transitional provision under GST Act in India
What do you think are the challenging issues, immediately affecting a person covered under earlier laws?
The objective of this presentation is to impart understanding on various issues which a business unit/service provider shall face in this change over from earlier law to GST.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
A process server is a authorized person for delivering legal documents, such as summons, complaints, subpoenas, and other court papers, to peoples involved in legal proceedings.
ZGB - The Role of Generative AI in Government transformation.pdfSaeed Al Dhaheri
This keynote was presented during the the 7th edition of the UAE Hackathon 2024. It highlights the role of AI and Generative AI in addressing government transformation to achieve zero government bureaucracy
Russian anarchist and anti-war movement in the third year of full-scale warAntti Rautiainen
Anarchist group ANA Regensburg hosted my online-presentation on 16th of May 2024, in which I discussed tactics of anti-war activism in Russia, and reasons why the anti-war movement has not been able to make an impact to change the course of events yet. Cases of anarchists repressed for anti-war activities are presented, as well as strategies of support for political prisoners, and modest successes in supporting their struggles.
Thumbnail picture is by MediaZona, you may read their report on anti-war arson attacks in Russia here: https://en.zona.media/article/2022/10/13/burn-map
Links:
Autonomous Action
http://Avtonom.org
Anarchist Black Cross Moscow
http://Avtonom.org/abc
Solidarity Zone
https://t.me/solidarity_zone
Memorial
https://memopzk.org/, https://t.me/pzk_memorial
OVD-Info
https://en.ovdinfo.org/antiwar-ovd-info-guide
RosUznik
https://rosuznik.org/
Uznik Online
http://uznikonline.tilda.ws/
Russian Reader
https://therussianreader.com/
ABC Irkutsk
https://abc38.noblogs.org/
Send mail to prisoners from abroad:
http://Prisonmail.online
YouTube: https://youtu.be/c5nSOdU48O8
Spotify: https://podcasters.spotify.com/pod/show/libertarianlifecoach/episodes/Russian-anarchist-and-anti-war-movement-in-the-third-year-of-full-scale-war-e2k8ai4
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Canadian Immigration Tracker March 2024 - Key SlidesAndrew Griffith
Highlights
Permanent Residents decrease along with percentage of TR2PR decline to 52 percent of all Permanent Residents.
March asylum claim data not issued as of May 27 (unusually late). Irregular arrivals remain very small.
Study permit applications experiencing sharp decrease as a result of announced caps over 50 percent compared to February.
Citizenship numbers remain stable.
Slide 3 has the overall numbers and change.
Many ways to support street children.pptxSERUDS INDIA
By raising awareness, providing support, advocating for change, and offering assistance to children in need, individuals can play a crucial role in improving the lives of street children and helping them realize their full potential
Donate Us
https://serudsindia.org/how-individuals-can-support-street-children-in-india/
#donatefororphan, #donateforhomelesschildren, #childeducation, #ngochildeducation, #donateforeducation, #donationforchildeducation, #sponsorforpoorchild, #sponsororphanage #sponsororphanchild, #donation, #education, #charity, #educationforchild, #seruds, #kurnool, #joyhome
What is the point of small housing associations.pptxPaul Smith
Given the small scale of housing associations and their relative high cost per home what is the point of them and how do we justify their continued existance
2. SECTIONS
MIGRATION OF EXISTING TAX PAYERS [S. 139]
CENVAT/VAT CREDIT [S. 140]
• INPUT CREDIT ON STOCK
ITC of goods/services in Transit, ISD
ITC of Centralised RC
2
3. JOB WORK [S. 141]
GOODS RETURN IN RESPECT OF EXEMPTED/DUTY PAID GOODS [S. 142]
PRICE REVISION….issue of supplementary invoices/debit & credit notes
REFUND/APPEAL/ASSESSMENT/ADJUDICATION/REVISED
RETURNS/RECOVERY
TAX ON SUPPLY MADE ON/AFTER APPOINTED DAY
APPROVAL BASIS
TDS
3
4. MIGRATION OF EXISTING TAX PAYERS’ TO GST
S-139
Issue of
Provisional
Certificate
to recognize
existing status
Taxable Person does
not furnish required
information within 3
months
FINAL
REGISTRATION
CERTIFICATE IS
GRANTED
Provisional
Certificate may be
Cancelled
Provisional Certificate is cancelled
upon dealer’s application
[Not Liable under GST]
Provisional Certificate is
DEEMED NOT TO HAVE BEEN
ISSUED
4
5. PRE GST
CENVAT/
VAT CREDIT
ITC of C/B IN THE LAST RETURN
UNAVAILED CREDIT ON
CAPITAL GOODS
CREDIT OF INPUTS HELD IN STOCKS/IN SEMI-
FINISHED GOODS/FINISHED GOODS
5
6. CENVAT/VAT CREDIT
CARRIED FORWARD
CREDIT WILL BE
AVAILABLE IN GST
Subject to the following Conditions :
The amount has to be admissible as ITC under the GST act
All RETURNS has been filed for 6 months period immediately
preceding the appointed date
6
amount of credit not related to goods manufactured and cleared under
such exemption notifications as are notified by the Government.(CGST)
7. UNAVAILED
CENVAT/VAT CREDIT
ON CAPITAL GOODS
NOT CARRIED
FORWARD
CREDIT WILL BE
AVAILABLE IN GST
Subject to the following Conditions :
The amount has to be admissible as as ITC under the GST Act
UNAVAILED CREDIT = CAPITAL GOODS CREDIT – ALREADY
AVAILED CREDIT
7
Application electronically in FORM
GST TRAN 1 (common portal)
8. 8
CREDIT OF INPUTS HELD IN STOCKS/IN SEMI-FINISHED
GOODS/FINISHED GOODS (S-140(3))
REGISTERED
PERSON ,who was
not liable to
registered under
existing law
WHOLLY
EXEMPTED
GOODS/SERVICES
TAXABLE &
EXEMPTED
GOODS/SERVICES
WORKS CONTRACT
SERVICE &
AVAILING NOTIF
26/2012-ST
REGISTERED
IMPORTER
FIRST/SECOND
STAGE DEALER
9. Earlier Exempted but
Taxable under GST
Earlier in Composition but
under Normal scheme in
GST
PROVIDED
SHALL BE ENTITLED for Credit of eligible
duties/taxes/VAT on
Inputs held in stock on the
appointed day
Inputs contained in semi-finished /finished
goods held in stock on the appointed day
9
10. such inputs or goods are used or intended to be used for making taxable
supplies under this Act
the said registered person is eligible for input tax credit on such inputs
under this Act;
the said registered person is in possession of invoice or other prescribed
documents evidencing payment of duty under the existing law in respect
of such inputs;
such invoices or other prescribed documents were issued not earlier than
twelve months immediately preceding the appointed day; and
the supplier of services is not eligible for any abatement under this Act:
• Not wholly exempt/nil + document for procurement of goods
10
Other than manufacturer & Service Provider, can avail 40%
credit, if there is no document evidencing payment
11. (S-140(4))
REGISTERED PERSON MANUFATURING GOODS OR
PROVIDING SERVICES FOF BOTH DUTIABLE AND
EXEMPTED CATEGORIES :
Follow the procedures
prescribed under (S-140(1)) and (S-
140(3))
11
12. (S-140(5))
Goods / Services were
received on/after
appointed day
REGISTERED TAX PAYER
But Duty /Tax paid under
existing law
Receipt should be recorded in
book of accounts within 30 days
of appointed day (further 30 days
by commissioner)
+
Furnish a statement
12
INPUT SERVICE
DISTRIBUTOR
Services were received
prior to appointed day
Even if invoices are
received on/after
appointed day
Shall be eligible for distribution as
credit under this Act
13. (S-140(8))
13
• ITC CARRIED FORWARD
• Should be admissible as ITC under this Act
• May also transfer to any registered person
having same PAN for which Centralized RC was
obtained
• Has to furnish return (for the immediate
preceding period) within 3 months of the
appointed day
14. Should be admissible as
ITC under this Act
CENVAT CREDIT
CARRIED FORWARD
Has to furnish return (for
the immediate preceding
period) within 3 months
of the appointed day
May also transfer to any
registered person having same
PAN for which Centralized RC was
obtained
14
15. Conditions:
Removal/Dispatch to the job worker prior to the appointed day&
Returned within six months from the appointed day/extended
period (not more than 2 months)
Manufacturer & Job Worker both declare the details of
Inputs/Semi-finished/Finished Goods held in stock by the Job
Worker on the appointed date
No Tax is
payable
In Semi-Finished
goods/Finished
goods
Manufacturer can (within
specified period)transfer
finished goods to the
premises of any regd. Taxable
person on payment of tax or
for Export – without tax
15
If NOT returned within the specified period, the ITC to be recovered as
arrears of Tax under the CGST/SGST Act.
16. Registered
person
Un-Registered
person
When,
Goods were removed/sold within 6 months prior to the appointed day &
Returned within 6 months from the appointed day
Proper Officer can satisfactorily identify the goods, then for
16
Registered
person
Registered
person
Refund
Deemed supply
17. Price is REVISED after the appointed day in
respect of a previous contract
Documents that may be issued by the supplier
• Supplementary Invoice/Debit
Note (within 30 days)
For Upward
Revision
• Supplementary Invoice/Credit
Note (within 30 days)
For Downward
Revision
Documents shall be deemed to have been
issued in respect
of an outward supply made under GST
17
Correspondingly recipient has reduced his ITC
18. REFUND/RECOVERY
CENVAT/VAT Credit as
per Earlier Law
Refund/
Recovery
Proceeding of
Appeal/Review as per
Earlier Law (ITC,TAX)
Assessment/Adjudication
Proceeding as per Earlier
Laws(any tax/penalty/interest)
Revision of return as
per Earlier Law
REFUND CLAIMS related to CENVAT/VAT credit, Duty, Tax, Interest or
any amount paid under existing law – disposed- existing law
18
19. REFUND/RECOVERY
REFUND -
Pending or accruing
from appeal, etc
To be generally paid in Cash
No refund for carried forward ITC
RECOVERY resulting
from proceedings under
the earlier law
To be Recovered as an arrear under
GST Act
Amount refundable/recoverable shall not
be admissible as ITC under GST
19
Rejected Claim of Refund (ITC) to
LAPSE
20. • the goods or services or both supplied on or after
the appointed day for a contract entered into
prior to the appointed day
Supply to be taxed
under GST Law
• to the extent the tax was leviable on the said
goods under the ValueAdded Tax Act of the
State
No Tax to be
paid under GST
• to the extent the tax was leviable on the said
services under Chapter V of the Finance Act,
1994
No Tax to be
paid under GST
# Applicable irrespective of the provisions relating
to Time of Supply of Goods & Services in the
GST Law
Tax payments
20
21. Goods Sent
on approval
basis
Rejected Goods
returned within six
months
Rejected Goods
returned after six
months/ extended
period(Max. 2 months)
Goods taxable
under GST
No Tax is payable on
returned goods
Not earlier
than six
months prior
to the
appointed
dated
Rejected/Not
Approved by
the buyer
Goods Rejected
but not returned
within six months/
extended period
Goods taxable
under GST
Tax is payable by the
person returning
the goods
Tax is payable by the
person who sent
the goods on
approval basis
21
22. DEDUCTION OF TAX AT SOURCE
Tax was required to
be deducted on such
sale under earlier law
Goods sold/invoice
issued prior to the
appointed day
Payment made against such
sale, on or after the
appointed day
Will not be considered for
TDS under GST Law
22