Nowadays, various cases of bogus billing have been reported by the authorities, wherein, fake invoices have been used to avail ineligible Input Tax Credit. In this article let us understand that what is bogus billing? How it is triggered?, what are penalties for it under GST law? How to safeguard oneself from such bills? Article […]
CBIC has released new set of notifications which covers the due date of filing GSTR 3B, GSTR -1 & GSTR 7 for the State Jammu & Kashmir, Changes made in refund form RFD-01 and simplifications made in GSTR 9 (Annual return) & 9C (reconciliation statement) Notifications which are covered are: Notification No. 52, 53, 54, […]
Government now showing full intention to stop ITC leakages and in order to shove taxpayers to timely file their statement of outward supplies, has come up with imposition of restrictions on availment of input tax credit. This means when a supplier does not file its GSTR-1 then receiver will not be able to get its […]
