Goods and Services Tax : Learn the proper method to calculate refunds under Rule 89(4) of CGST Rules for zero-rated supplies, based on CBIC clarifications ...
Goods and Services Tax : Rule 86B of CGST mandates at least 1% of GST liability paid in cash to curb ITC misuse. Learn about its provisions, exceptions, an...
Goods and Services Tax : Explore recent changes in CGST rules, including updates on input tax credit claims, invoice timelines, tax deductions, refund proc...
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 : 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. 49/2020 – Central Tax Dated 24th June 2020 Many provisions of the CGST Act has been amended in the Finance Act, 2020 and some of the same have been notified and the effective date is 30th Jun 2020. Extract of Sections 118, 125, 129 & 130 of Finance Act, 2020 118. Amendment of […]
CBIC has issued one GST Instruction, Two IGST Notifications, 6 CGST Notifications and one UTGST Notification on 24th June 2020. Notifications are for notifying relaxation in GST Interest Rate & Late Fees with respect to Form GSTR 3B, For notifying Waiver of Late Fees for GSTR 1, Notification of Due dates of GSTR 3B, Amendment […]
The Central Board of Indirect Taxes and Customs (CBIC) has issued notifications and circular under GST Laws to implement the relief measures due to outbreak of Covid-19 and Nationwide lockdown. The relief includes relaxation from interest, late fees for filing of GSTR 1 and GSTR 3B. Summary of the notifications and circular is presented in […]
CA Viral K. Chheda CBIC issued 10 Notification/Instructions on 24.06.2020 to give effect to amendments made by Finance Act, 2020, to substitute table annexed to Rule 7 related to GST Composition Dealers specifying GST Composition Scheme Tax Rates, to Notify Amendments related to interest to be payable as per section 50 of the CGST Act […]
In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliance requirements across sectors due to the outbreak of Novel Corona Virus (COVID-19), The government has again come up with Notifications on providing relief to the taxpayers :- The 1st CGST Notification : Notification No. 49/2020 – Central Tax dated 24th June 2020 […]
CBIC clarified on Manner of calculation of interest for taxpayers having aggregate turnover above Rs. 5 Cr., Manner of calculation of interest for taxpayers having aggregate turnover below Rs. 5 Cr. and Manner of calculation of late fee vide Circular No. 141/11/2020-GST Dated 24th June, 2020. Circular No. 141/11/2020-GST CBEC-20/06/04-2020 -GST Government of India Ministry […]
CBIOC notifies Central Goods and Services Tax (Seventh Amendment) Rules, 2020 and amended Rules 7 of the CGST Rules 2017 with a new entry for Composition tax payers who are providing services will be taxed at rate of 6% (CGST – 3% & SGST/UTGST – 3%) vide Notification No. 50/2020-Central Tax Dated 24th June, 2020. […]
Rule 86A (2) prescribes that the Officer so authorised have to reasons to believe , such reasons to be recorded in writing and not allow debit of an amount equivalent to such credit in electronic credit ledger for discharge of any output tax liability under section 49 or for claim of any refund of any unutilized amount
Summary of Various Reliefs provided to Taxpayers in GST Due to COVID-19 pandemic and challenges faced by taxpayers, Government has extended dates for GST filings. These are notified vide Notifications 51 to 54/2020 dated 24.06.2020 and Notification No 57/2020-CT dated 30.06.2020. A Circular No. 141/1/2020-GST dated 24th June, 2020 has also been issued in this […]
Sec 17(2) of the CGST Act, 2017 provides that where the goods or services are used partly for effecting taxable supplies (including zero rated) and partly for exempt/ non-business use then the amount of credit as attributable to exempt supplies or non-business use shall be reversed as per Rule 42/43 of the CGST Rules, 2017.
