Goods and Services Tax : Get an in-depth Analysis of Central Goods and Services Tax (Second Amendment) Rules, 2023 with GST Notification No. 38/2023. Lear...
Goods and Services Tax : Overview of CGST Rule 88D & Form GST DRC-01C introduced in 2023. Understand how to deal with mismatches in Input Tax Credit (ITC) ...
Goods and Services Tax : Explore the detailed analysis of the new Rule 88D of CGST Rules, 2017 through Notification No.38/2023-Central Tax dated 4th August...
Goods and Services Tax : Explore the Karnataka High Court's verdict on Rule 89(4)(C) & Rule 96(10) of CGST Rules post the Tonbo Imaging India Pvt Ltd case ...
Goods and Services Tax : New Restrictive Rule a helpful tool to both Taxpayer & Tax Officer – Implementation of Rule-59(6) on GST Portal The GST ...
Goods and Services Tax : This article have updated Central Goods and Services Tax Rules, 2017 / CGST Rules, 2017, which were initially released on 19th Jun...
Goods and Services Tax : Association of Tax Practitioners, Ernakulam has made a representation to Principal Commissioner (GST) and highlighted Difficulty f...
Goods and Services Tax : AIMTPA has made a representation to Smt. Nirmala Sitharaman, Finance Minister and discussed prevailing Issues in GST and their pro...
Goods and Services Tax : CBIC has issued one GST Instruction, Two IGST Notifications, 6 CGST Notifications and one UTGST Notification on 24th June 2020. No...
Goods and Services Tax : Extract of Rule 142A of Central Goods and Service Tax Rules, 2017 as inserted vide Notification No. 60/2018-Central Tax Dated 30th...
Goods and Services Tax : Delhi High Court held that rule 89(4) of the Central Goods and Services Tax Rules, 2017 applies only in case of zero rated supply ...
Income Tax : Rule 90(3) read with the Circular dated 18.11.2019 providing for fresh application after deficiency memo to also be filed within l...
Goods and Services Tax : The Kerala High Court, in M/S Indus Towers Limited Vs. The Assistant State Tax Officer, held that the power of detention contempla...
Goods and Services Tax : Explore the latest amendments to the Central Goods and Services Tax Rules 2017 with Notification No. 12/2024. Detailed analysis on...
Goods and Services Tax : Explore the latest GST notification (04/2024) outlining a special procedure for manufacturers of specific goods. Learn about regis...
Goods and Services Tax : Central Goods and Services Tax (Fourth Amendment) Rules, 2022 – CBIC omitted following GST Rules 122,124,125,134 and 137 vi...
Goods and Services Tax : Central Goods and Services Tax (Second Amendment) Rules, 2022 – Notification No. 19/2022–Central Tax | Dated: 28th Septem...
Goods and Services Tax : Due date for furnishing annual return in FORM GSTR-9 & self-certified reconciliation statement in FORM GSTR-9C for the financi...
Notification No. 13/2021- Central Tax Dated: 1st May, 2021 – Conditions provided in Rule 36(4) shall apply cumulatively for the period April and May, 2021 and The return in FORM GSTR-3B for the tax period May, 2021 shall be furnished with the cumulative adjustment of input tax credit for the said months in accordance with […]
Its 1st April 2021. Start of new FY. However, Compliances of FY 20-21 will conclude in APRIL-2021. Here are Things you should share with your clients in APRIL FIRST WEEK for changes / compliances of APRIL 2021. It’s Important for FY 2020-21 as well as FY 2021-22. GST CLIENTS ♦ Composition clients – details for […]
In order to avoid fake invoicing and curb tax evasion the Central Board of Indirect Taxes and Customs (CBIC) has introduced new rule 86B vide notification number 94/2020 dated 22nd December, 2020. Rule 86B is made effective from 1st January 2021 wherein the registered person shall be required to pay 1% of GST liability in cash […]
The government introduced GST explaining that it is good and simple tax to eradicate the cascading effect of various indirect tax legislations in the country, but after introduction of GST, the government took various measures to curb the fake ITC frauds but while doing so government did not even bother about what is the impact […]
1. Changes in Rule 36(4) of CGST Rules, 2017 from 1st January, 2020- recipients can claim provisional Input Tax Credit (“ITC”) in GSTR-3B to the extent of 10% instead of earlier 20% of the total ITC available in GSTR-2B for the month; 2. Insertion of new Rule 86A providing conditions of use of amount available in electronic credit ledger.
Central Goods and Services Tax (Amendment) Rules, 2021. a registered person shall not be allowed to furnish the details of outward supplies of goods or services or both under section 37 in FORM GSTR-1, if he has not furnished the return in FORM GSTR-3B for preceding two months;
Misconceptions VS Reality Facts about 1% payment of tax liability in cash in GST under Rule 86B Misconception 01: Large number of taxpayers would be affected by the rule. Reality: The rule provides for various exemptions like exporters, suppliers of goods of inverted duty structure, taxpayers having a footprint in the Income Tax data base […]
Important Note: – Author in no manner through this article encourage any person to indulge in such activities. This article is only meant to understand the intent of law behind rule 86B which helps to curb fake invoicing. Preface to Frauds under GST & Intent of Law to bring Rule 86B Government with a motive […]
Gist of important changes made in the CGST Rules, 2017 vide Notification issued on December 22, 2020 Lot many changes have been made in the Central Goods and Services Tax Rules, 2017 (CGST Rules) vide Notification No. 94/2020-Central Tax dated December 22, 2020. This article summarises all the important changes made in the CGST Rules, […]
GST rule 86B, 99% ITC restricted, 1% of Output liability to be paid in cash As per GST Notification number 94/2020-Central Tax dated 22nd Dec 2020, GST rule 86B has been introduced which has imposed 99% restricted on ITC (Input Tax Credit) available in electronic credit ledger of Registered Person. This means 1% of Output […]
