GST articles

GST on Mining Industry- A detailed Analysis

As per section 9 of the MMDR Act 1957, the holder of a mining lease granted before or after the commencement of this Act shall pay royalty in respect of any minerals removed or consumed from the leased area. Various activities of mining were earlier chargeable to service tax....

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Buyer cannot be forced directly to reverse ITC for non payment of GST by Supplier


GST Department can not force directly to the Buyer to reverse the Input Tax Credit, Because Supplier did not Deposit to the Government kitty (Section 16 of CGST Act 2017) I hope everything is fine on your side in this Covid -19 Pandemic situation. There are some defaulter seller in the market who collect the […]...

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Revised due dates- 43rd GST council Meeting

Relaxations in GST Compliances (Press Release- 43rd Council Meeting) For Tax Period March-2021- S. No. Particulars Due date for GSTR-3B One Time Relaxation 1. Taxpayers having an aggregate turnover of more than Rs. 5 crores in the preceding financial year 20-04-2021  *After 20-04-21, Interest @18% P.a. on Net cash tax liability shall be ...

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Extension Regarding Exemption From GST on Covid Relief Materials Till 31st Aug-2021

1. Brief Summary of Provision for providing IGST exemption on Import of Covid-19 Relief material and medicine of Black fungus ‘Amphotericin B’ With the second wave of the ongoing pandemic, Government of India has taken remarkable steps on the war footing basis to make the life-saving materials like as oxygen concentrators, oth...

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Discussion on 43rd GST Council Meeting in chart form

43rd GST COUNCIL MEETING AT A GLANCE 1. COVID RELIEF ITEMS : No IGST shall be charged on certain items like medical oxygen, oxygen storage, medical . . . equipment, test kits, vaccines etc. till 31.08.2021. ↓ FM has also constituted a group of ministers (GOM) who will decide other COVID related individual items. Also […]...

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Result of 43rd GST Council Meeting

Result of 43rd GST Council Meeting held on 28th May 2021 1. Extension Of Due Date Of Filing GSTR-4 For FY 2020-21 To 31.07.2021.(Annual Return For Person Opted For Composition Scheme) 2. Extension Of Due Date Of Filing ITC-04 For Quarter ended March 2021 To 30.06.2021.(Details Of goods Dispatched to a Job Worker Or Received […]...

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Analysis of GST Amensty Scheme & Relaxations in GST Return

Analysis of GST Amensty Scheme & Relaxations in due dates of GST RETURNS as per 43rd GST Council meeting : Today I will discuss GST Amensty Scheme and New due dates for Month of March, April and May 2021- Amnesty Scheme to provide relief to taxpayers regarding late fee for pending returns: To provide relief […]...

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Chart showing GST return late fees payable as per 43rd GST Council meeting

43 GST Council meeting has recommended capping of Late Fees of GSTR 3B Return for from the period from July, 2017 to April, 2021 (if filed from 01.06.2021 to 31.08.2021). Meeting his also recommended capping of Late fees Prospective Tax period for GST returns namely GSTR- 3B,  GSTR- 1, GSTR- 4 and GSTR- 7. Period […]...

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Recommendations of 43rd GST Council Meeting

The GST Council met for the 43rd time on 28th May 2021 at New Delhi. The Council made certain key recommendations on changes in GST rates on supply of goods and services and changes related to GST law and procedure GST Law and procedures. The changes are categorized in below major areas and summarized for […]...

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Will GST ITC be Reversed if Supplier Makes any Non-Compliance

There is a burning issue in GST since very beginning “Whether the recipient are required to reverse their Input Tax Credit (ITC) due to mismatch of 2A or due to non-submission of GSTR 1 or GSTR 3B by supplier” As per Section 16 (2)(c) of the CGST Act, Input Tax Credit (ITC) shall be claimed […]...

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August 2021