Category: GST
Interest on delayed payment of GST to be paid on net tax liability after adjusting credit in ECL from 1st June 2021 Clause 112 of the Finance Act 2021 amended Section 50 of the CGST Act 2017 related to Interest on delayed payment of tax. The amendment provided …
Notification issued as per decisions taken in 43rd meeting of GST Council GST Council in its 43rd meetings held on 28th May 2021 took several decisions to provide relief to the taxpayers. CBEC has issued notifications to implement the recommendations of the GST Council as under: Notification No. …
Group or Ministers (GoM) constituted on GST concessions/exemptions to COVID relief material In pursuance of the decisions taken by the GST Council at the 43rd meeting on 28th May 2021, a eight members Group of Ministers (GoM) has been constituted to examine the issue of GST concessions/exemptions from …
GST Council 43rd Meeting- Key decisions taken Union Finance Minister N Sitharaman chaired the 43rd GST Council meeting held on 28/05/2021 today. Recommendations of 43rd GST Council meeting Amnesty Scheme to provide relief to taxpayers regarding late fee for pending returns ; Late fee also rationalised for future …
CGST (Fourth Amendment) Rules 2021. Refund related amendments MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 15 /2021–Central Tax New Delhi, the 18th May, 2021 G.S.R. 333(E).—In exercise of the powers conferred by section 164 of the Central Goods …
No arrest under GST Act on purchase of goods against fake invoice unless purchaser took benefit of fake or bogus invoice, e-way bill etc. issued by dealer or he had acted in collusion with it. ABCAUS Case Law CitationABCAUS 3500 (2021) (05) HC In this case anticipatory bail …
Extension of deadlines and relaxations for GST compliances due to second wave of Covid-19 Pandemic On the recommendations of the GST Council and in view of the spread of pandemic COVID-19, CBIC has given extensions of various due dates under and relaxation in compliances. The Highlights of …
Oxygen concentrator imported for personal use to attract 12% MINISTRY OF FINANCE(Department of Revenue) Notification No. 30/2021-Customs New Delhi, the 1st May, 2021 G.S.R.313(E).—In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being …
Companies allowed to furnish FORM GSTR-3B and FORM GSTR-1 using invoice furnishing facility, verified through EVC during period from the 27th day of April, 2021 to the 31st day of May, 2021 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 07/2021–Central Tax New …
GSTN Clarification on 4-digit/6-digit HSNs not accepted on e-invoice/e-Way bill Portal. Number of HSN digits as per Notifications No. 12/2017 & 78/2020 are minimum number of HSN digits to be mentioned on the invoice. GSTN Clarification on reporting 4-digit/6-digit HSNs In terms of the Notification No. 12/2017-Central Tax …