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Whether Non-filing of GST returns be a burden to assesses due to COVID-19??

As we all aware that due date for filing monthly GST returns is 10th and 20th of each month. Now due to COVID-19, it is not able to even step out of house, then how can we file our returns? Is there any relaxation given by Government for this problem? We are very much in […]...

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Recent Changes in GST vide Various Notification No. 30/2020 to 36/2020 dated 03.04.2020

Recent Changes in GST vide Various Notification No. 30/2020 to 36/2020 dated 03.04.2020 In view of the spread of pandemic COVID-19, the Hon’ble FM has announced various reliefs measures relating to statutory and regulatory compliance matters in GST. For ease of your convenience and reference, due date calendar for various returns in GST...

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Late Fee & Interest waiver for late filing of GSTR-3B for Feb, Mar & Apr 2020

Late fee & interest is payable if GSTR-3B is filed after the due date. In case of difficult periods, generally the due dates will be extended to give relief from the payment of late fee & interest. But during this COVID-19 difficult times, Government has chosen different & innovative method. Instead of extending the due [&hell...

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Reduced interest under GST- Practical examples & solutions

Practical examples and solutions to understand applicability of reduced interest under GST There has been whole lot of discussions about how the applicability of reduced rate of interest and waiver of late fees shall work in case of taxpayers having turnover exceeding Rs. 5 crores. The Notification Nos 31/2020, 32/2020 and 33/2020 – Cen...

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Summary of GST notifications/ Circular issued by CBIC on 03.04.2020

CBIC Clarification in respect of various measures announced by the Government for providing relief to the GST taxpayers in view of spread of Novel Corona Virus (COVID-19) vide Circular No. 136/06/2020-GST dated 3rd April, 2020. Summary of various Notifications: Conditional waiver of GSTR-3B late fees and interest:Page ContentsConditional ...

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CBIC notifies Due date and relaxations for filing GSTR-3B

CBIC notifies the Due date for filing GSTR – 3B for the month of February 2020, March 2020,  April 2020 and May 2020 CBIC vide Notification No. 36/2020 Central Tax dated April 03, 2020 notified the due dates for filing of monthly outward supply return i.e. GSTR – 3B for the period May 2020, in […]...

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Analysis of Recent GST Notifications & Circulars dated 03.04.2020

Analysis of Recent GST  Notifications & Circulars issued by CBIC on 3rd April 2020 to Provide relaxation to Taxpayers Notif 30/2020 – No 110% Restriction for Returns of February 2020 to Aug 2020 A proviso has been inserted under Rule 36(4) to provide that the condition of Restricting ITC to 110% of GSTR 2A figure […]...

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Refund of ITC On Capital Goods – A Possible Perspective

– CA Venkat Prasad. P & CA Lakshman. K Background Section 16 of IGST Act, 2017 entitles exporters to claim refund under either of the two options: 1. Export without payment of IGST under bond or Letter of Undertaking (LUT) and claim refund of unutilized Input Tax Credit (ITC) or 2. Export with payment of […]...

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Arrest under GST Regime: Nature, Scope & Extent of Cognizance

This article discusses in detail, the concept of ‘Arrest’ under GST by analyzing its key provisions, procedure, nature of cognizable and non cognizable offences, bail and anticipatory bail and compounding of offences with landmark cases pertaining to the same. Introduction The explicit powers to arrest a person was granted from the ve...

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Brief Analysis of GST Notifications Issued on 03.04.2020

BRIEF ANALYSIS OF NOTIFICATIONS ISSUED ON 3RD APRIL 2020 INTEREST ON DELAY PAYMENT OF TAX PERIOD FOR FEBRUARY, MARCH, APRIL 2020 Notification No- 31/2020 dated 03.04.2020 TABLE Sl. No. Class of registered persons Rate of interest Tax period Condition (1) (2) (3) (4) (5) 1. Taxpayers having an aggregate turnover of more than rupees 5 cror...

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