free html templates

Compaqt v8.3

Gst Regulations

The extract of Section 170 of CGST Act,2017 quoted below:

170 Rounding off of tax, etc.

170. The amount of tax, interest, penalty, fine or any other sum payable, and the amount of refund or any other sum due, under the provisions of this Act shall be rounded off to the nearest rupee and, for this purpose, where such amount contains a part of a rupee consisting of paise, then, if such part is fifty paise or more, it shall be increased to one rupee and if such part is less than fifty paise it shall be ignored.
Section 170 of CGST Act, 2017
Rounding off of tax

CBEC has notified the following CHANGES IN GST:
1) Exemption from RCM

CBEC has issued notification exempting RCM till 31-3-2018. The exemption is applicable to RCM payable on services received from unregistered supplier of goods and services.RCM on specified services like lawyer, GTA, etc. is still applicable.

The Notification is dated 13-10-17 and so this exemption is available from 13-10-2017.

2) GST on Advances

Small assesses whose turnover did not exceed 1.5 crores in Previous financial year are now absolved from paying GST on advances received. In other words, now small assesses will have to pay GST on supply of service / goods or billing basis, whichever is earlier.

U-11, Jeevan Deep Complex,  Sub Jail Area, Opp. J.K.Tower, Ring Road, Surat 395002.
Gujarat. INDIA                    

Mobile: +91 63548 27277

Bank Information
Company: Nidhi Infocomm
Bank: Yes Bank
A/c: 0011 6190 00 06727
Type: Current Account
IFSC/RTGS: YESB 00 000 11

Compaqt V8
Sms Packs

Please send us your ideas, bug reports, suggestions to Any feedback would be appreciated.

Legal Information
GST No.: 24ACQPN7458K1ZV