Welcoem to posts!!

in the future - u will be able to do some more stuff here,,,!! like pat catgirl- i mean um yeah... for now u can only see others's posts :c

Miraal Institute
Posted 6 months ago

Notification No.09/2024 - Central Tax (Rate)

Impacts of RCM on Renting of any property other than residential dwelling

If the tenant is Unregistered and the owner is also Unregistered under GST then GST is not applicable (Neither RCM nor FCM)

If the tenant is Unregistered and the owner is Registered under GST then GST is applicable on FCM basis

If the tenant is Registered and the owner is also Registered under GST then GST is applicable on FCM basis

If the tenant is Registered and the owner is Unregistered under GST then GST is applicable on RCM basis.

#gst
#rcm
#rcmonrent
#fcmonrent
#gstupdate

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Miraal Institute
Posted 6 months ago

🚨*Important*🚨

*GST Return Data will not be available on GST Portal.

https://youtu.be/JNGpAoeH1KU?si=fSD_T...

#gst
#gstreturn
#gstdata

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Miraal Institute
Posted 7 months ago

*Major Recommendations of 54TH GST Council Meeting held on 09th September 2024 (As per Press Conference) -*

1. RCM has been recommended on inward supply of Metal scrap from unregistered Person to the registered person. The recipient is liable to pay GST under RCM even if the supplier takes GST Registration at a later date.

2. Issue of Rule 89 and Rule 96 has been clarified, regarding IGST refund on export when IGST refund claimed on payment of IGST.

3. Procedure for waiver of interest and penalty has been recommended. Recommended to notify for 01st Nov to 31st Marc 2025.

4. E-Invoicing has been recommended for B2C transactions on a pilot project basis.

5. IMS-Implementation of Invoice Management System w.e.f. 01st October 2024.

6. ITC shall be available on Demo vehicles if bought from Vehicle Manufacturer.

7. Place of supply has been clarified for -
a. RCM on Advertisement by Indian Co. to Foreign Company
b. Data hosting services
c. Cloud Computing Services

8. Further clarification has been issued regarding applicability of RCM on Renting of Immovable property from Unregistered supplier to Registered recipient.

9. Ancillary services provided by GTA who issue Consignment note shall be considered as composite service. Rate of GTA shall apply on such ancillary services.

10. Exemption has been recommended on Affiliation charges by Govt. schools.

11. Exempt on Import of Service from Foreign Airline Services.

12. Grant received is exempt from GST if received by the Universities Set up by Central Govt/ State Govt/ Exempted by Income Tax.

13. GST Rate changes has been recommended for the followings:
a. Cancer drugs (brough down to 5% from 12%)
b. Namkeens (brough down to 12% from 18%)
c. Transportation of Passengers
d. Car and Motorcycle seats (increased to 28% from 18%)
e. Film Distributors/Sub Distributors
f. helicopter services for religious pilgrim and tourists for seat sharing basis (brough down to 5% from 18%)
g. Air Conditioner for railway

14. Next Council Meeting Expected to be scheduled in November 2024.

15. The GoM has been formed for rate rationalisation on some transactions. A meeting will be hold by GoM soon.

16. Casino and Online Gaming - The revenue from online gaming has been increased.

17. ‘Broad consensus' on reducing insurance premium, final modalities to be taken up in next meeting.

*Miraal Institute*

#54thgstcouncilmeeting
#gstupdate
#gstnews
#gstmeeting
#gstnews
#gstnewsseptember2024

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Miraal Institute
Posted 7 months ago

GST Registration Process 2024 | How to Apply GST Certificate | Easy Process

https://youtu.be/YAyB5Bt8Izs?si=ED6pC...

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Miraal Institute
Posted 7 months ago

*Urgent Requirement*

Position - Accountant
Salary - 15-30k
Timing - 10-6

Job location -Sahar Cargo Complex Andheri East

Job description
Sales Biling on Tally Prime
Documents filing
Tds working
GST working
Purchase bill entry
Bank reconciliation
Email coordination
Payment follow

Contact : +91 9819520887

#accountsjob