As per Section 25(2) of CGST Act 2017, A person seeking registration under this Act shall be granted a single registration in a State or Union territory: Provided that a person having multiple business verticals in a State or Union territory may be granted a separate registration for each business vertical, subject to such conditions […]
A simplified GST return shall be implemented from the 1st April, 2020. It will make return filing simple with features like SMS based filing for nil return, return pre-filling, improved input tax credit flow and overall simplification. Dynamic QR-code is proposed for consumer invoices. GST parameters will be captured when payment for purchases is made through the QR-code.
Simplification of Form GSTR-9 & GSTR-9C for FY 2017-18 & FY 2018-19 (CGST rules amended via Notification no. 56/2019 – Central Tax dated 14.11.2019) Simplification of Form GSTR-9 Table Particulars Remarks 4B, to 4E Details of advances, inward and outward supplies made during the financial year on which tax is payable This table can be […]
Below are some of the important amendments made to CGST Rules 2017, vide Notification No. 49/2019 – Central Tax dated 9th October 2019: 1. Insertion of sub-rule (3) in Rule 36- Input tax credit to be availed by a registered person in respect of invoices or debit notes, the details of which have not been uploaded […]
Section 50 of CGST Act 2017, deals with Interest on delayed payment of GST tax. The same reads as under: (1) Every person who is liable to pay tax in accordance with the provisions of this Act or the rules made thereunder, but fails to pay the tax or any part thereof to the Government […]
Notifications / Order issued by CBIC on 28th June 2019 Article contains Crux of Notifications / Order issued by CBIC on 28th June 2019 which includes extension of due date of FORM GSTR-9, FORM GSTR-9A and FORM GSTR-9C, FORM GST ITC-04, FORM GSTR-1 for registered persons having aggregate turnover of more than 1.5 crore rupees […]
The most awaited 35th GST council meeting was held on 21st June 2019 at New Delhi. It was the first meeting of the Council after the swearing in of the new Government. Following are some of the key recommendations made therein: 1. It has been decided to have a common State Bench for the States […]
During the 31st GST council meeting dated 22nd December 2018, it was proposed that – Section 50 of CGST Act 2017 should be amended to allow payment of interest on Net cash liability, i.e. interest should be charged only on the net liability of taxpayer, after taking into account the admissible ITC. However, no amendment has […]
The due date of Monthly GSTR 1 has been extended to 13th April 2019 vide Notification No. 17/2019 – Central Tax dated- 10th April, 2019. So you have got some extra time, 2 days more to file it now and do rectifications for FY 2017-18. Make sure, to do relevant amendments relating to FY 2017-18 […]
GST Council’s 34th Meeting was held on 19th March 2019 at New Delhi. Therein, it discussed the operational details for implementation of the recommendations made by the council in its 33rd meeting for lower effective GST rate of 1% in case of affordable houses and 5% on construction of houses other than affordable house. The […]
