GST - Page 50

HC quashes Plea to challenge Office Memorandum prescribing guidelines for implementation of GST in works contract

M/s. Harish Chandra Majhi Vs State of Odisha & Others (Orissa High Court)

Since Office Memorandum (OM) only prescribed the manner/procedure of calculation to determine the amount of tax in a particular eventuality in the transitional period of migration to GST Act with effect from 1st July, 2017 consequently, the Court found no merit in assessee's challenge to quashed the said OM in law....

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₹ 1,02,709 crore gross GST revenue collected in May

The gross GST revenue collected in the month of May 2021 is₹1,02,709 crore of which CGST is ₹17,592 crore, SGST is ₹22,653, IGST is ₹53,199 crore (including ₹26,002 crore collected on import of goods) and Cess is ₹ 9,265 crore (including ₹868 crore collected on import of goods)....

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Common Errors in GSTR-3B & GSTR-1 & Possible Solutions

-Returns are a way of communicating business data to the -Different types of returns are prescribed for sending different types of -In this presentation common errors relating to returns GSTR-1 and GSTR-3B are -No Revised Return Record wise amendment possible. Law relating to filing and amendment of GSTR-1 Section Details 37(1) Obligation...

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GST: Relevant date for refund of interest paid on gross tax liability

By virtue of decision taken in 43rd GST Council Meeting, Notification No. 16/2021 – Central Tax dated 1st June, 2021 was issued under GST law to state that interest under Section 50 of the CGST Act, 2017 would be applicable only on net tax liability with retrospective effect from July 1, 2017. With this notification […]...

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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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August 2021