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Goods and Services Tax : Introduction: The year 2023 brings a ray of hope for taxpayers with the extension of multiple tax amnesty schemes. These schemes o...
CBIC extends due date for furnishing FORM GSTR-3B of the said rules for the months of July,2019 to September, 2019 for registered persons whose principal place of business is in the erstwhile State of Jammu and Kashmir, shall be furnished electronically through the common portal, on or before the 24th March, 2020 vide Notification No. […]
CBIC extends due date for furnishing FORM GSTR-3B for the months of October, 2019 , November, 2019 to February, 2020 for registered persons whose principal place of business is in the erstwhile State of Jammu and Kashmir on or before the 24th March, 2020 vide Notification No. 25/2020-Central Tax Dated- 23rd March, 2020. Extended due […]
Provided that the said persons who have, instead of furnishing the statement containing the details of payment of self-assessed tax in FORM GST CMP-08 have furnished a return in FORM GSTR-3B under the Central Goods and Services Tax Rules, 2017 (hereinafter referred to as the said rules) for the tax periods in the financial year 2019-20, such taxpayers shall not be required to furnish the statement in outward supply of goods or services or both in FORM GSTR-1 of the said rules or the statement containing the details of payment of self-assessed tax in FORM GST CMP-08 for all the tax periods in the financial year 2019-20.
1. Deferment of the new GST return system and e-invoicing to 1st October 2020. The present return system (GSTR-1, GSTR-2A & GSTR-3B) will be continued until September 2020. 2. Changes in the GST rates GST on mobile phones and specified parts was increased from 12% to 18%. All types of matches have been rationalised to […]
The all empowered GST Council (GSTC) had its 39th meeting on 14th March, 2020. The meeting deliberated with a three pronged focus, viz, changes in law and procedure for trade facilitation, GST rates rationalization and I.T. facilities. The GSTC also took certain decisions to defer the new facilities/utilities and/or extend the due dates and date […]
Under GST, payment of tax is accompanied by a return. GSTR 3B is a simple return form introduced by the CBIC which is to be filed by 20th of the following month. Wherein only total values for each field have to be provided, this value must be for the month for which return is being […]
As Central Government has extended due date for filing Form GSTR 3B on various occasions for various class of person, for various states etc. Whether Central Government is right in demanding interest on late payment of liability from original due date of filing Form GSTR 3B? or extension of due date is applicable only for waiver of late fees?
A much-awaited relief has finally arrived in terms of relaxation and deferring many compliances, whether it is about E-Invoicing or GST Audit for the financial Year 2018 – 2019 in the 39th GST Council meeting which took place on 14/03/2020. The rationale behind this is very clear logical as we have just finished the Audit […]
Various recommendations have been made by the GST Council in its meeting held on 14.03.2020 which is likely to be notified soon. Relevant points are as follows: 1. Interest for delay in payment of GST to be charged on net cash tax liability w.e.f. 01.07.2017 instead of gross tax liability (Law to be amended retrospectively). 2. […]
The 39th GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman on 14th March 2020. Many long awaited issues are discussed and useful clarifications are recommended by Council. The GST Council has made the following recommendations on Law & Procedures changes. Press release issued by the Ministry of […]