Interest on Late Payment of GST: Case Law and Opinion

Interest on delayed GST Payment The legal position Recently, the GST Council has held its 39th meeting in which it has approved that the interest on GST late payment shall be payable on liability paid belatedly in cash component only, and this shall be made applicable w.e.f. Jul’2017 i.e. retrospective effect.  However, it shall be…

GST Interest on late payment & reversal of input credit

GST Interest calculation, interest on reversal & refunds How to calculate interest on the late payment of GST? Interest applies to the late payment of GST. Section 50 of the Central Goods and Service Act 2017 states the following provisions. (1) Every person who is liable to pay tax in accordance with the provisions of…

PT Test ICAI- Next Practical Training Exam Registration

ICAI next CA Articleship exam – Registration, Results, and updates Refer latest exam dates from Pttest.icai website. The students who have appeared in the earlier test(s) and wish to improve their performance/ grade can re-appear in this test. Similarly, the students who have registered for the earlier test(s) but could not appear due to some…

The Journey of Completing CA Course : CA Foundation to CA Final

Ultimate guide on becoming Chartered Accountant in India In this article, we have covered the entire journey of how to complete a CA course – the challenges faced, tips and tricks required to crack exams, fee structure, Articleship struggles, and ultimately attempting CA final exams. Chartered Accountancy is one of the most challenging courses in…

All about CA Articleship exam: Eligibility & Details

CA Articleship Exam (Practical Training exam) at pttest.icai Latest update on CA Articleship exam Refer latest exam dates from Pttest.icai website. The students who have appeared in the earlier test(s) and wish to improve their performance/ grade can re-appear in this test. Similarly, the students who have registered for the earlier test(s) but could not…

All about job work in GST- Procedure, Challan & Input Credit

All about job work in GST Job work in GST  is an outsourced activity undertaken by the principal that may or may not culminate into manufacture. For example, An automobile company sends spare parts to a job worker for coating. Coating here is an outsourced activity performed by a third party. Define Job Work? Section…