Tax India (Accotax Business Solutions)

Update Your Bank Account within 45 Days  The function of checking the status of renewal of bank account details of taxpayers who have taken a new registration on the GST Portal but have not yet offered the same, has been introduced, in terms of Rule 10A of the CGST Rules of 2017. Such taxpayers are required to have their Bank Account details updated within 45 days after the initial login.   Taxpayers can sign in and update your Bank Account details with a non-primary amendment as outlined in the table below. In the event that taxpayers who did not renew a bank account after registration and fail to renew within 45 days of logging in for the first time from now on, the system will compel them and compel them to comply with the requirements.   ü   Login to the taxpayer's website ü   Go to ‘Services’ ü   Click on ‘Registry’ ü   Click on the ‘Subscription Component Subscriptions’ tab ü   Select the ‘Bank Accounts’ tab ü   Enter ...

 GST on consideration received for agreeing to refrain from an act

 Case 1-  What is Applicability of GST if Mr. S.K. Gupta has Proprietorship Firm In the Name of Gupta & Sons in Jaipur. The Firm Registered under GST in the State of Rajasthan, manufactures Taxable Products. The Firm Also Provides Taxable Consultancy Services. Mr.   S.K. Gupta has provided the consultancy services to his brother- Mr. G.K. Gupta ( Located in USA ) without any consideration. The Products Manufactured by Mr.  S.K. Gupta similar to the ones Manufactured by Mr. G.K. Gupta. Mr  S.K. Gupta charges Rs. 4,00,000 for providing similar consultancy services to other independent customer located in USA.

 Whether GST applicable in case of Transfer of Stock to its another unit Located in another State?

Supply of Goods or Service within State ( Intra State)  , the supplier charge Dual GST that is CGST and SGST at the rate applicable on such supply.