CBIC has made the following changes in GST Rate in relation to Job Work vide Notification No.- 20/2019-CT (R) Dated: 30 Sep 2019. Changes are effective from 1st October 2019.Changes in Rates are as follows:- i) For diamond related services Rate of GST reduced from 5% to 1.5% on supply of job work services in relation […]
ELIGIBILITY/INELIGIBILITY UNDER SVLDRS, 2019 Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 CATEGORY OF APPLICATION > Litigation i. SCN involving Duty along with Interest/ Late fee/ penalty (if any) – 124(1)(a) Case I SCN Received before 30 June 2019; Final Hearing has not taken place as on 30 June 2019 ELIGIBLE. Relief U/s 124(1)(a) Tax […]
Section 129 of GST Act, 2017 provides for detention or seizure of goods in transit in contravention of the provisions of the Act. Following are important points to be noted in this regard: 1) Section 129(4) provides that no tax, interest or penalty shall be levied without giving the person concerned an opportunity of being […]
Notification No.-10/2019- Central Tax has further exempted from obtaining registration for a person engaged exclusively in supply of goods and whose aggregate turnover in the financial year does not exceed Rs 40 lakh with effect from 1 April 2019 except persons making intrastate supplies in the States of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Telangana, Tripura and Uttarakhand.
DECREASE IN TURNOVER LIMIT FOR COMPOSITION LEVY IN THE STATE OF UTTARAKHAND Composition Turnover Limit with Effect from 1 April 2019 CBIC has recently issued Notification No. 14/2019- Central Tax; Dated: 7 March 2019 to give effect to the decision to increase turnover limit for composition scheme to Rs 1.5 crores. However for special category […]
This Article covers supplies which are eligible for Zero Rating benefit under GST including Exports, Deemed Exports, Supplies to SEZ and Merchant Exporter. Also Documentary Evidence required to claim Refund under various Zero Rated Supplies is covered.
Article deals with Late fees payable for delayed Filing of Form GSTR-3B and Form GSTR-1 by Taxpayer having no outward supply or those who are required to file Nil Return and For Taxpayer who have liability of GST Payment. Article also explains Rate of Interest payable for delayed Payment of GST.
More than Eight Months have passed since GST was implemented but still most of the Industries falling under Inverted Structure are unable to file Refund applications due to various issues in refund process. One of such issues pertains to Error in Filling Refund application online in case of Cross Utilization of ITC. In case of cross utilization of ITC, Refund Application cannot be filled on GST Common Portal. Following error will be shown on Saving RFD 01A Application due to negative figures in one of the Tax Heads: “ERROR: The calculated Value should be greater than Zero for form to get Saved/ Submitted”
