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FM Announcements: 24th March 2020

    

Fake Notification being circulated on social media about GST date extension.

    

GST Council 39th Meeting - Press Release 14th March 2020

    

Clarification by CBIC on whether interest to be charged on Gross Tax Liability or Net Tax Liability?

    

Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 117(1A) in certain cases

    

Budget 2020 : Highlights

    

Due date of GSTR-9 and GSTR-9C for FY 2017-18 - Extension

    

GSTR-3B NEW DUE DATES

    

Now the GST Taxpayers can file their GSTR-3B Returns in a Staggered Manner

    

Tax Audit due date extension AY 2019-20

    

GST Council 37th Meeting Update

    

Corporate tax rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies and other fiscal reliefs

    

Fake Input and refund of IGST on exports - crackdown by DGGI and DRI

    

GST Council may Scrap GSTR-9 and GSTR-9C for FY 17-18 for small taxpayers upto 5 crore turnover

    

Changes in 36th GST Council Meeting held on 27th July 2019

    

CMP-08 due date for quarter April 2019 to June 2019 extended till 31st July 2019

    

Press Release restricting the last date for availing ITC for FY 2017-18 is illegal : Gujarat High Court

    

Budget 2019 Highlights - 05 July 2019

    

Transfer of GST amount from one head to other head (Form GST PMT - 09)

    

DGGST arrests one person for availing and passing fake ITC of Rs.16 Crore.

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GST Input Output Set-Off Calculator

GST set off Calculator

GST liability set off Calculator

GST set off chart


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GST Input Output Set-Off Calculator
GST Output Liability on Sales Output Liability under Reverse Charge Total Input Available
other than mentioned in
(2)
Eligible for input credit
(E.g. Rent)
Not Eligible for input credit
(E.g. Food)
(1) (2) (3) (4)
IGST
CGST
SGST
GST SET-OFF CHART
GST Output Liability on Sales Input Set-off Balance Output Liability to be paid in cash
IGST CGST SGST
(A) (B) (C) (D) E
(A-B-C-D)
IGST 0 0 1 0 6 0 7 0
CGST 0 0 2 0 4 0
SGST 0 0 3 0 5 0
TOTAL 0 0 0 0 0


Note: Step 2 & 3 can be interchanged according to taxpayer's choice as per Rule 88A. However we have taken step 2 first for the sake of convenience only.

TOTAL GST TO BE PAID IN CASH
GST Output Liability on Sales
(after set-off as above)
Output Liability
(under Reverse Charge)
Total Payment Due
(A) (B) (C= A+B)
IGST 0 0 0
CGST 0 0 0
SGST 0 0 0
TOTAL 0 0 0