goods and services tax

GST Due dates Effects is like ‘Kabhi Kushi Kabhi Gham’?

Goods and Services Tax - Arjun (Fictional Character): Krishna, some major recommendations were put forth by the GST Council in the 40th GST Council meeting. What further step has CBIC taken to give effect to the recommendations? Krishna (Fictional Character): Arjuna, CBIC has issued one GST Instruction, Two IGST Notifications, 6 CGST Notifications and one UTGST N...

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How to Pay RCM In Real Estate for Purchase from Unregistered Suppliers

Goods and Services Tax - How to pay RCM by a Real Estate Promoter or developer on the shortfall in procurement from Registered Persons? Notification 03/2019 Central Tax (Rate)  dated 29th March 2019 brought in yet another major change which had a huge impact on the real estate sector. Though the buyers of the flat saw this as a huge […]...

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‘GST: The New Dawn of Tax in India’

Goods and Services Tax - It is vital to know that GST has tried to address many issues that existed in the previous regime like that of cascading tax effect, intricate filing procedures, cumbersome tax registration process, etc. that majorly caused distress among the middle-class people of India that form the backbone of India’s economy....

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Ready Recokner of GSTR 3B due dates for 2020

Goods and Services Tax - Ready reckoner of GSTR 3B return filing dates for the year 2020: Notification No 29/2020 CT dated 23.03.2020 Category of Taxpayers: Category A: Taxpayers having an aggregate turnover of more than rupees 5 crore rupees in the previous financial year Category B: Taxpayers having an aggregate turnover of up to Rs 5 crore rupees in […]...

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TDS, TCS & Transfer of ITC under GST- Section 51-53/CGST Act 2017

Goods and Services Tax - Simplified GST Series Section 51-53/CGST ACT 2017 Section 51- Tax deduction at source- Notwithstanding anything to the contrary contained in this Act, the Government may mandate, –– (a) a department or establishment of the Central Government or State Government; or (b) local authority; or (c) Governmental agencies; or (d) such persons...

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Upsurge in E-way bills signals to green shoots in economy

Goods and Services Tax - More than 4.27 crore E-Way Bills generated in June 2020 against average of 5.3 cr per month of pre-COVID period. Value of E-way bills generated in June is close to pre-lockdown figures. Unlock 2.0 set to witness a further surge. New Delhi, 5thJuly 2020: E-way bill generation data, one of the prominent indicators of economic […]...

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Updated Central Goods and Services Tax Rules, 2017

Goods and Services Tax - This article have updated Central Goods and Services Tax Rules, 2017 / CGST Rules, 2017, which were initially released on 19th June 2017 and amended by various notifications issued from time to time. CGST Rules are updated with notifications issued till 03rd April 2020. Details of Initial and Subsequent Notifications is as follows :- S. [...

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Digital GST Ready Reckoner by Taxguru Edu

Goods and Services Tax - We are happy to announce the launch of our Digital GST Ready Reckoner-2020. With this transformation we strive towards bringing flexibility in reading and understanding the law. This Digital GST Ready Reckoner is beyond just a PDF version to our paper book. It has some distinct benefits and offers versatility in comparison to the printe...

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Message of Hon’ble MOS (Finance) on GST Day

Goods and Services Tax - GST has brought about changes and new opportunities in all spheres of economy and taxation. GST, not only subsumed most of the indirect taxes and created one tax, it has also unified the country and trade in many more ways, thus bringing out One Nation One Tax in true spirit....

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SMS filing of NIL statement of FORM GSTR-1

Goods and Services Tax - The facility of SMS filing of NIL statement of FORM GSTR-1 is going to start from 1st week of July 2020 A taxpayer may now file NIL Form GSTR-1, through an SMS, apart from filing it through online mode, on GST Portal. To file NIL Form GSTR-1 through SMS, the taxpayer must fulfil following conditions: […]...

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GST: HC cannot be made middle authority between Tax & Appellate Authority

L&T Hydrocarbon Engineering Limited Vs State of Karnataka (Karnataka High Court) - L&T Hydrocarbon Engineering Limited Vs State of Karnataka (Karnataka High Court) Learned Additional Government Advocate Sri.Vikram Huilgol for respondent No.2 submits that the appeal under Section 107 of Central Goods and Services Tax Act, 2017 are to be filed before the appellate authority. As ...

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Threaded metal nuts classifiable under Tariff item 73181600

In re A Raymond Fasteners India Pvt. Ltd (GST AAR Maharashtra) - In re A Raymond Fasteners India Pvt. Ltd (GST AAR Maharashtra) Q. Whether Threaded metal nuts which function same as standard nut, merits classification under the Tariff item 7318 16 00 & not under Tariff item 8708 99 00? A. In view of the discussions made above, Threaded metal nuts merits class...

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Recipient of services cannot apply for Advance Ruling under GST

In re Portescap India Private Limited (GST AAR Maharashtra) - In re Portescap India Private Limited (GST AAR Maharashtra) Section 95 of the CGST Act, 2017 allows this authority to decide the matter in respect of supply of goods or services or both, undertaken or proposed to be undertaken by the applicant. We find that the applicant has not undertaken the suppl...

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No ITC of GST on input & input services used for construction of commercial immovable property, subsequently used for renting

In re Ashish Arvind Hansoti (GST AAR Maharashtra) - In re Ashish Arvind Hansoti (GST AAR Maharashtra) Question : Whether applicant is eligible to claim input tax credit of GST paid on input & input services used for construction of commercial immovable property, subsequently used for renting? Section (17) (5) (d) bars a taxable person, in the sub...

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AAR application not admissible on separate invoice issue to each co-owners

In re Rishabh Chopda (GST AAR Maharashtra) - In re Rishabh Chopda (GST AAR Maharashtra) The first question raised by the applicant is whether the co-operative society, in the present case has to issue four separate invoices to each of the four co-owners so that all of them can get proportionate input tax credit. We find that the said question ...

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Remove Vulnerability of CESTAT Website: Govt

FTS No.1436753 - (06/07/2020) - In case of any likely delay the CESTAT websites should be temporarily deactivated so that it does not become a target for hackers/cyber attack, causing public concern....

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Rule 67A Manner of furnishing GSTR 3B by SMS facility

Notification No. 58/2020 – Central Tax/G.S.R. 426(E) - (01/07/2020) - CBIC notifies GST Rule 67A which specifies Manner of furnishing of return or details of outward supplies (Form GSTR 3B) by short messaging service (SMS) facility. Central Goods and Services Tax (Eighth Amendment) Rules, 2020. Notification No. 58/2020 – Central Tax Dated: 1st July, 2020.  Ministry...

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FM: Strive to make GST Tax Administration simple

Release ID: 1635730 - (01/07/2020) - On GST Day, 2020 FM highlighted that GST has come a long way in simplifying the GST Tax Administration based on feedback from stakeholders. GST has been instrumental in Breaking Barriers to build an AatmaNirbhar Bharat and taking forward the motto of One Nation One Tax One Market....

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GSTR 3B Late fees restricted to Rs. 500 for return filed till 30.09.2020

Notification No. 57/2020–Central Tax [G.S.R. 424(E)] - (30/06/2020) - Total amount of late fee payable for GSTR 3Bshall stand waived which is in excess of two hundred and fifty rupees and shall stand fully waived for those taxpayers where the total amount of central tax payable in the said return is nil...

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Area Bench of GST Tribunal proposed at Rourkela

No. 6157/C.T. - (30/06/2020) - The Central tax administration in Odisha has two Commisionerates -one headquartered at Bhubaneswar and the second headquartered at Rourkela. Proposing for an area bench at Rourkela will mostly suit the convenience of taxpayers located within the jurisdiction of Rourkela Commissionerate....

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Recent Posts in "goods and services tax"

GST Due dates Effects is like ‘Kabhi Kushi Kabhi Gham’?

Arjun (Fictional Character): Krishna, some major recommendations were put forth by the GST Council in the 40th GST Council meeting. What further step has CBIC taken to give effect to the recommendations? Krishna (Fictional Character): Arjuna, CBIC has issued one GST Instruction, Two IGST Notifications, 6 CGST Notifications and one UTGST N...

Read More

How to Pay RCM In Real Estate for Purchase from Unregistered Suppliers

How to pay RCM by a Real Estate Promoter or developer on the shortfall in procurement from Registered Persons? Notification 03/2019 Central Tax (Rate)  dated 29th March 2019 brought in yet another major change which had a huge impact on the real estate sector. Though the buyers of the flat saw this as a huge […]...

Read More

‘GST: The New Dawn of Tax in India’

It is vital to know that GST has tried to address many issues that existed in the previous regime like that of cascading tax effect, intricate filing procedures, cumbersome tax registration process, etc. that majorly caused distress among the middle-class people of India that form the backbone of India’s economy....

Read More

GST Interest & Late Fee Auto Calculator for new Extended due dates

GST Interest and Late Fee Auto Calculator Not. No 51 to 57 for New Extended Date February 20 to July 20 Due to Covid -19 Government is changing GST return filing due dates again and again. Further, dates are also bifurcated between different types of assesses with different turnover and principal place of business. The […]...

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Ready Recokner of GSTR 3B due dates for 2020

Ready reckoner of GSTR 3B return filing dates for the year 2020: Notification No 29/2020 CT dated 23.03.2020 Category of Taxpayers: Category A: Taxpayers having an aggregate turnover of more than rupees 5 crore rupees in the previous financial year Category B: Taxpayers having an aggregate turnover of up to Rs 5 crore rupees in […]...

Read More

TDS, TCS & Transfer of ITC under GST- Section 51-53/CGST Act 2017

Simplified GST Series Section 51-53/CGST ACT 2017 Section 51- Tax deduction at source- Notwithstanding anything to the contrary contained in this Act, the Government may mandate, –– (a) a department or establishment of the Central Government or State Government; or (b) local authority; or (c) Governmental agencies; or (d) such persons...

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Summary of CGST Notifications/ Orders from 19.06.2020 to 30.06.2020

We would like to bring to your notice that CBIC has issued several Notifications [Notification No. 48/2020 – Central Tax to Notification No. 57/2020 – Central Tax] & Removal of Difficulty Order No. 01/2020- Central Tax whereby some Relief is granted. The following is the summary of the same for your ready reference: I. Notificatio...

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Gujarat AAR Ruling on Interest – Whether A Risk On Personal Capacity?

The recent ruling could potentially put individuals into jeopardy with no clear distinction between personal and business purpose outlined by the authorities. This ruling can bother many interest earners like retired person (who will required to take GST Registration as per this Ruling) as it has not distinguished between interest earning...

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Remove Vulnerability of CESTAT Website: Govt

FTS No.1436753 (06/07/2020)

In case of any likely delay the CESTAT websites should be temporarily deactivated so that it does not become a target for hackers/cyber attack, causing public concern....

Read More

GST: HC cannot be made middle authority between Tax & Appellate Authority

L&T Hydrocarbon Engineering Limited Vs State of Karnataka (Karnataka High Court)

L&T Hydrocarbon Engineering Limited Vs State of Karnataka (Karnataka High Court) Learned Additional Government Advocate Sri.Vikram Huilgol for respondent No.2 submits that the appeal under Section 107 of Central Goods and Services Tax Act, 2017 are to be filed before the appellate authority. As such the petitioner cannot be so hurry a...

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