We would like to bring to your notice that CBIC has issued several Notifications [Notification No. 48/2020 – Central Tax to Notification No. 57/2020 – Central Tax] & Removal of Difficulty Order No. 01/2020- Central Tax whereby some Relief is granted. The following is the summary of the same for your ready reference: I. Notification […]
Article explains Rules for Composition Scheme under GST which includes Rule 3: Intimation For Composition Levy, Rule 4: Effective date of Composition levy, Rule 5: Conditions for Composition levy, Rule 6: Validity for Composition levy, Rule 7: Rate of Tax of the Composition levy, Rule 62 : Form & manner of statement and return, Rule […]
Summary of Clarification on refund related issues vide Circular No.135/05/2020 – GST dt. 31st March, 2020, explaining Bunching of Refund claims across Financial Years, Change in manner of refund of tax paid on supplies other than zero rated supplies, Guidelines for refunds of Input Tax Credit under Section 54(3) and New Requirement to mention HSN/SAC […]
