Main source of FORM GSTR-2B is Rule 60(7) of CGST Rules which specify that an auto-drafted statement containing details of input tax credit shall be made available to registered person in FORM GSTR-2B, for every month electronically through common portal.
Understand the provisions and notifications of Reverse Charge Mechanism (RCM) under GST. Learn how it affects the liability to deposit tax and widens the scope of levy.
Explore Reverse CIRP in Real Estate: No provision in IBC, Umang Realtech case introduction, non-precedent status, challenges, and recent project-wise resolutions in Supertech & Ansal Properties cases.
Under the IBC, Homebuyers can now initiate CIRP against defaulting Builders & join the COC. Home Buyers under IBC protected by the court in Chitra Sharma Case to ensure liquidation value of their financial interest.
Understand the implications of non-payment of tax by suppliers and the new Rule 37A introduced by CBIC. This rule, effective from December 26, 2022, mandates the reversal of input tax credit (ITC) by a registered person if the supplier fails to file the GSTR-3B for the corresponding tax period.
Unravel the complexities of GST on let-out residential properties. Explore exemptions, changes post the 47th GST Council Meeting, and the impact on registered tenants. CA insights, legal clarifications, and recent amendments bring clarity to GST obligations.
Menace of fake billing whereby seller was showing higher sales in FORM GSTR-1 to enable a purchaser to claim ITC but report suppressed sales in FORM GSTR-3B to lower GST liability.
HC directed the petitioner to file the pending GST returns thereafter the GST registration cancelled, on account of non-filing of GST return for continuous period of 6 months, will be restored.
FORM GSTR-1 is a return form for regular taxpayers who have to file details of outward supplies (under Rule 59) on every 11th of next month for those who cross the turnover more than 1.5 crores annually. The taxpayers who are under the threshold limit to 1.5 crores will have to file quarterly return.
Understanding the mandatory requirement of claiming ITC as GSTR-2B from 01.01.2022. Get insights into the changes for suppliers and recipients under GST.
