GST - Page 40

Chart of Late fee waiver for delay in filing Form GSTR-3B returns

The Government, vide Notification No. 19/2021, dated 1st June, 2021, inter alia, has waived the late fee payable, in excess of amount as specified in the Tables, as given below: (Note: Please refer to respective State/UT Notifications for waiver of State/UT tax). A. For the registered persons who have failed to furnish the return in F...

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Chart of Waiver of GST interest & late return filing fee

Waiver of interest and late fee for normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers (Part 1 & Part 2) Government has granted waiver from payment of interest and/or late fee to normal (Monthly / Qtrly) & composition taxpayers for the tax periods of March, April & May, 2021, vide Notn. N...

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GST, Income Tax, DGFT, FEMA, Customs Updates dated 05.06.2021

During the ongoing pandemic of COVID 19, various States are again imposing restrictions, curbs and curfews to restrict interaction as a measure to stop spread of the disease. Fortunately, various measures undertaken by government till now are bringing positive results and in the past few days there is a gradual reduction in number of dail...

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Horse race clubs liable to pay GST only on commission & not entire bet amount

Bangalore Turf Club Limited and ors. Vs. State of Karnataka (Karnataka High Court)

Bangalore Turf Club Limited and ors. Vs. State of Karnataka (Karnataka High Court) Horse race clubs liable to pay GST only on commission and not entire bet amount; Rule 31A(3) of CGST Rules ultra vires The Hon’ble Karnataka High Court (HC) in Bangalore Turf Club Limited and ors. v. Union of India [WP No. 11168/2018 and WP […]...

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Consolidated Covid-19 Relief Measures for Taxpayers under GST law

In view of the spread of pandemic COVID-19 across many parts of India & challenges faced by Taxpayers, the Government vide Notification Nos. 08/2021- Central Tax, 09/2021- Central Tax, 10/2021- Central Tax, 11/2021- Central Tax, 12/2021- Central Tax, 13/2021- Central Tax, 14/2021- Central Tax, 01/2021 – Integrated Tax & 01/2021 ...

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GST Relaxations 2.0 | Amnesty, Due Date Extension, Late Fee Relaxations

1) GST Amnesty Scheme 2021 2) Relaxation in Late – Fee Payment 3) Due Dates Extended 4) Other Relaxation Summary of GST notification are tabulated below: – Relevant Notifications (Central Tax dated 01.05.2021) Notification No. Central Tax Description Notification No. 08/2021- Central Tax Dated: 1st May, 2021 Interest Relaxation fo...

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Having multiple GST Registrations & not able to utilize ITC Efficiently? Cross Charge is the Solution

♦ Introduction: When a Company’s business activities are distributed evenly across various states both on input side and output side, then the company shall be able to utilise the input-tax credit on inward supplies in each such state while offsetting it against tax on outward supplies made from each such state. However, in many cases...

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CGST Act 2017 Updated Till 01st June 2021- Free E-Book

In this Article Author compiled  CGST Act 2017 with all notification / Acts issued and changes which occurred till Till 01st June 2021 including the chages vide Finance Act, 2021. Books contains all Section of CGST Act 2017 updated with changes till 01st June 2021. Earlier Versions CGST Act 2017 Updated Till 28th March 2021- […]...

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Longer Limitation Period-Supreme Court Orders

The resurgence of COVID-19 pandemic recently headed different regions/states of India into lockdown which escalated difficulties in instituting the cases and filing applications in the courts at all levels. The Supreme Court Advocate on Record Association (SCAORA) took note of such a daunting situation before the litigants and filed the i...

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GIST of GST Council Decisions & Compensation Cess Issues

The GST Council met after a gap of seven months on 28th May, 2021 with five states being represented by new leaders (CM, DY CM or FMs). This 43rd meeting was held in the backdrop of worries on compensation cess, shortfall in e-way bills in second wave of COVID, likely contraction in tax revenue and […]...

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July 2021