Goods and Services Tax : The article explains how IMS makes accepted invoice records the basis for ITC eligibility, strengthening compliance, fraud detecti...
CA, CS, CMA : A complete guide to the major Income Tax and GST compliance deadlines falling in July 2026, including ITR filing, TDS/TCS, GST ret...
Goods and Services Tax : The article explains how the GSTAT held that a mere mismatch between GSTR-1 and GSTR-3B is insufficient to invoke Section 74 witho...
Goods and Services Tax : GSTAT held that a mere mismatch between GSTR-1 and GSTR-3B does not automatically establish tax evasion or justify proceedings und...
Goods and Services Tax : The issue concerns confusion regarding the purpose and sequencing of GSTR-1 and GSTR-3B filings. The key takeaway is that GSTR-1 s...
Goods and Services Tax : The Government introduced reforms such as e-invoicing and auto-population of data in GST returns. These measures improve accuracy,...
Goods and Services Tax : A recent advisory from Infosys GSTN, the technology backbone of India's Goods and Services Tax (GST) network, addressing a persist...
Goods and Services Tax : Recent communications from GSTN and CBIC have shed light on important aspects of HSN (Harmonized System of Nomenclature) code repo...
Goods and Services Tax : GSTN introduces Phase-III changes to GSTR-1 from April 2025 with dropdown HSN selection, tab-wise B2B/B2C reporting, and value val...
Goods and Services Tax : Online gaming tax collection lacks specific tracking. Govt issued notices for ₹1.43 lakh crore. GST at 28% applies to real money...
Goods and Services Tax : Gauhati High Court rules GSTR-1 vs GSTR-3B mismatch from clerical errors cannot trigger automatic tax recovery without Rule 88C pr...
Goods and Services Tax : The court quashed orders reversing ITC that were based solely on limitation under Section 16(4). It held that the amendment insert...
Goods and Services Tax : The Court quashed a GST demand where discrepancies arose from double entry in returns, granting a fresh hearing subject to a 25% p...
Goods and Services Tax : ITC cannot be mechanically denied to purchasers even if invoices are missing in GSTR-2B. Key takeaway: the ruling safeguards taxpa...
Goods and Services Tax : Madras High Court remitted a case for fresh adjudication after finding that fake invoices were generated in the petitioner’s GST...
Goods and Services Tax : The advisory clarifies that from November 2025, auto-populated values in Table 3.2 of GSTR-3B cannot be manually edited. Any corre...
Goods and Services Tax : GSTN resolved a technical issue for QRMP taxpayers on the GST Portal. Refund applications can now be filed, provided GSTR-3B for r...
Goods and Services Tax : GSTN updates GSTR-1/1A reporting. HSN code reporting in Table 12 is mandatory (4/6 digits based on turnover). Table 13 (document d...
Goods and Services Tax : From April 2025, GSTR-1 Table-12 will be split into B2B and B2C with mandatory HSN code selection from dropdown. Manual entry will...
Goods and Services Tax : Draft GSTR-2B for December 2024 (Oct-Dec 2024 quarter) will be generated on January 16, 2025, following extended return filing dea...
Please find below a brief update on various announcements made by CBIC in relation to extension in due dates and reduction in rate of interest for late payment of taxes and filing of various returns under GST. Before you go into the detailed update and preparation of revised calendar for your organisation, we would like […]
CBIC Extended DUE DATE of filing GSTR 1 & GSTR 3B by providing Late fees waiver & relief in Interest as per Notifications issued on 03rd April 2020. Article compiles chart of GSTR 1 Due Date Extension & Late Fees Waiver and GSTR 3B Due Date Extension, Late Fees Waiver & Interest.
It is important to note that, there is no change in due date of GSTR 3B / GSTR 1 of Feb 2020, Mar 2020, April 2020 and May 2020. Only relaxation is given in terms of Interest and Late fees, with certain condition. If returns are filed after date given, then Interest and Late will be payable from original due date.
Normal and registered taxpayers who want to opt in for Composition in FY 2020-21 can apply in Form GST CMP02 till 30th June 2020. The taxpayers SHOULD NOT file any GSTR-1/GSTR-3B, for any tax period of FY 2020-21, from any of the GSTIN on the associated PAN, or else they will not be able to […]
1. Government vide Notifications No. 31/2020 & 32/2020 dated 03.04 2020 has notified waiver of late fee & penalty / lower rate of interest for late filing of GSTR 1 and GSTR 3B. However, due dates for filing GSTR 1 and GSTR 3B have not been extended. 2. As per Notification No. 31/2020 , the […]
Recently, CBIC issued the few notifications on extension of due date of various compliance except for GSTR 1, GSTR 3B etc. due to lockdown. However, Govt. provide some relaxation like waive of late fees in case of delay filing of GST Returns , no interest or interest at reduced rate etc. Part A: For taxpayers […]
Summary of various GST Notifications & circular issued on 3rd April 2020 in Tabular form in respect of various measures announced by the Government for providing relief to the taxpayers in view of the spread of Novel Corona Virus (COVID-19).
Analysis of Recent GST Notifications & Circulars issued by CBIC on 3rd April 2020 to Provide relaxation to Taxpayers Notif 30/2020 – No 110% Restriction for Returns of February 2020 to Aug 2020 A proviso has been inserted under Rule 36(4) to provide that the condition of Restricting ITC to 110% of GSTR 2A figure […]
Extension in due date of filing GSTR-3B and GSTR-1 The whole world is affected with pandemic disease COVID-19 reporting number of causalities. The government of India has come up with lockdown to break the chain of this virus. But, it has adversely affected the Indian economy due to shutdown of business activities. Thus, GST department […]
The CBIC vide various notifications issued on April 3, 2020, provided various reliefs in terms of: -extension of date of filing of GST return -To provide relief by conditional lowering of interest rate -To provide relief by conditional waiver of late fee for delay in furnishing returns -Extension of date of for filing of intimation […]
