Information Technology Blogs

RCM - REVERSE CHARGE MECHANISM Under normal circumstances, the supplier of goods or services collects the tax and pays it to the Govt. But in case of Reverse Charge, the receiver becomes liable to pay the tax to the Govt., which means the chargeability gets reversed. Reverse charge is a mechanism where the recipient of the goods and/or services who is a registered dealer is liable to pay GST instead of the supplier. Normal GST Transaction Flow   RCM Transaction When is Reverse Charge Applicable A. Supply from an Unregistered dealer to a Registered dealer If a vendor who is not registered under GST, supplies goods to a person who is registered under GST, then Reverse Charge would apply. This means that the GST will have to be paid directly by the receiver to the Government instead of the supplier. The registered dealer who has to pay GST under reverse charge has to do self-invoicing for the purchases made. For Inter-state purchases the buyer ...

CSS  Layout - width , max-width, max-height, margin:auto, Overflow width, max-width and margin: auto; A block-level element always takes up the full width available. By s etting the  width  of a block-level element to some value will restrict it from stretching out to the edges of its container. Then, by setting the margins to auto, will align the element horizontally within its container. The element will only take up the width specified, and the remaining space will split equally between the left and right margins: div.ex1  {   width :  500px ;   margin :  auto ;   border :  3px solid #73AD21 ; } This <div> element with ex1 class has a max-width of 500px, and margin set to auto. Note:  The problem with the  < div > above occurs when the browser window is smaller than the width of the element. The browser then adds a horizontal scrollbar to the page. Using  max-width  ins...

CSS Layout - The display Property The  display  property plays a very important role in controlling CSS layout. The display Property The  display  the property specifies how to display an element. Every HTML element has a default display value depending on the type of element. There are two default display values for most of the elements one is  block  and other is  inline . Block-level Elements The main feature of a block-level element is that it always starts on a new line and takes up the full width available. Block Element Block-level elements: <div> <h1> - <h6 > <p> <form > <header > <footer > <section > Inline Elements Sometimes we want to place an element which should take up only a limited portion of the screen then we use Inline Elements. It does not start on a new line and only takes up as much width as needed . Inline elements:...

INPUT TAX CREDIT When we purchase goods we pay Input GST to dealer and when we sell the same then we collect output GST from customer. So when we pay Taxes to Tax Authorities, we deduct the one we paid during purchase this is called Input Tax credit .  Means while   paying tax we don't pay whole amount collected from customer but the difference between output GST(GST collected from customer while selling the goods) and Input GST (GST paid to dealer while purchasing goods), this adjustment is called Input Tax Credit. Let us understand the same with the help of following illustrations Input Tax Credit ITC Who can claim ITC ITC can be claimed by a person registered under GST only if he meets ALL the   conditions   mentioned below. a. The dealer should have tax invoice b. The said goods/services have been received c. Returns have been filed. d. The tax collected has been paid to the government by the supplier. e. When goods received in ins...

GST Returns           All  registered businesses  are required to file monthly, quarterly and annual/yearly GST Returns based on the type of business.           Returns are the reports to be submitted to the Tax Authorities by a tax payer along with Tax whenever applicable, as per schedule notified by CBIC which may change as per CBIC Notifications. These reports are submitted online in the GSTN portal by a tax payer and are used by tax authorities to calculate tax liability. Under  GST , a regular registered dealer  has to file GST returns that include: ·          Purchases ·          Sales ·          Output GST (On sales) ·          Input tax credit (GST paid on purchases) Who should ...