"15 October 2020" Archive

GST Update and Deadlines | 15th October 2020

Taxpayers shall reconcile the ITC availed in their FORM GSTR-3Bs for the period February, 2020 to August, 2020 with the details of invoices uploaded by their suppliers of the said months, till the due date of furnishing FORM GSTR-1 for the month of September, 2020....

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All about Form GST REG-07

Form GST REG-07 is an application form to be filed by the TDS deductor/ TCS collector willing to obtain Goods and Services Tax (GST) registration. As per rule 12(1) of the Central Goods and Services Tax Rules, 2017, a person liable to deduct TDS as per section 51 or person liable to collect TCS as […]...

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GST Audit relaxation to SMEs to continue in FY 2019-20

Notification No. 79/2020-Central Tax [G.S.R. 639(E)] (15/10/2020)

Notification No. 79/2020 – Central Tax Dated: 15th October, 2020. For the financial year 2018-2019 and 2019-2020, every registered person whose aggregate turnover exceeds five crore rupees shall get his accounts audited as specified under sub-section (5) of section 35 and he shall furnish a copy of audited annual accounts and a reconcil...

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HSN Code Mandatory irrespective of Turnover from 01.04.2021

Notification No. 78/2020-Central Tax [G.S.R. 638(E)] (15/10/2020)

The 1st Proviso to Rule 46 of CGST Rules 2017 has been amended, vide Notification No.79/2020-CT dated 15-10-2020, for declaration of HSN code in invoice. Under this amended Proviso, Notification No. 78/2020 – Central Tax, dated 15.10.2020 has been issued to make HSN code mandatory up to 4 digits in the B2B invoices with effect […...

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Optional annual GST return filing benefit extended to FY 2019-20

Notification No. 77/2020-Central Tax/G.S.R. 637(E) (15/10/2020)

Notification No. 77/2020 – Central Tax dated 15-10-2020 Optional filing of Annual Return extended to FY 2019-20– CBIC extends benefit of optional filing of annual return for registered persons whose aggregate turnover in a financial year does not exceed Rs 2 crore, for FY 2019-20 as well. The benefit was already there for Financia...

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CBIC notifies GSTR-3B due date for October 2020 to March 2021

Notification No. 76/2020-Central Tax/G.S.R. 636(E) (15/10/2020)

GSTR -3B due date for October 2020 to March 2021- The Government notified that GSTR-3B for the period from October 2020 to March 2021. The due date is on or before 22 nd day of the month succeeding such month if the taxpayers having an aggregate turnover of up to Rs. 5 crores in the […]...

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CBIC notifies GSTR-1 due date for dealers with T.O. exceeding ₹ 1.5 Cr

Notification No. 75/2020-Central Tax/G.S.R. 635(E) (15/10/2020)

GSTR-1 due date for taxpayers with turnover above Rs.1.5 crore – Vide Notification No. 75/2020 – Central Tax Dated: 15th October, 2020, the due date for furnishing FORM GSTR-1 for each of the months from October, 2020 to March, 2021 by tax payers having aggregate turnover of more than 1.5 crore rupees in the preceding […]...

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CBIC notifies GSTR-1 due date for dealers with T.O. < Rs. 1.5 Cr

Notification No. 74/2020-Central Tax/G.S.R. 634(E) (15/10/2020)

GSTR-1 due date for taxpayers with turnover below Rs. 1.5 crore- The Government has prescribed the due date for furnishing FORM GSTR-1 for the tax payers having aggregate turnover of up to 1.5 crore rupees in the preceding financial year or the current financial year., for quarter October, 2020 to December, 2020 to be 13th […]...

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HSN Code on GST Tax Invoice Mandatory wef 01st April 2021

Notification 06/2020–Integrated Tax [G.S.R. 640(E)] (15/10/2020)

Notification 06/2020–Integrated Tax dated 15.10.2020- This notification mandates a registered person to mention the HSN Code for the all products sold the HSN Digits to be mentioned are as under. The only exemption is given to the registered persons having turnover less than 5 Crores is that they need not mention the HSN code in the...

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Income Tax Department carries out searches in Delhi, NCR & Haryana

Release ID: 1664884 (15/10/2020)

Ministry of Finance Income Tax Department carries out searches in Delhi, NCR and Haryana Posted On: 15 OCT 2020 The Income Tax Department has carried out a search and seizure action on 14.10.2020 in the case of a leading advocate practicing in the field of commercial arbitration and alternate dispute resolution. He was suspected to [&hell...

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