Category: GST

Notifications issued for GST rates reductions as per 44th GST Council meeting recommendations CBIC has issued notifications to give effect to the recommendations of 44th meeting of the GST Council for reduction in GST rates. GST Council in its 44th meeting held on 12th June 2021 has recommended …

New functionalities to be deployed on GST Portal-Negative liability statement, downloading Form GSTR-4A & HSN in Excel Format In order to provide a smooth and hassle free experience to the taxpayers and simplify the process for them, to comply with their GST compliances, the GSTN has decided to …

Recommendations of 44th GST Council Meeting. Change in GST Rates on goods being used in Covid-19 relief and management The 44th GST Council met today under the Chairmanship of Union Finance & Corporate Affairs Minister through video conferencing . The Council decided to reduce the GST rates on …

Table-12 of GSTR-1. GSTN Advisory on PDF preview displaying Total Invoice value field as zero instead of N.A for non reporting any value Table-12 of GSTR-1 pertains to the data related to the HSN-code wise supplies of goods & services declared in the aforesaid GSTR-1. It has been …

CBIC issues notifications amending GST rates on goods and services to implement the recommendations of 43rd meeting of GST Council held on 28th May 2021. The summary of notifications issued are as under: Notification No. Particulars No. 02/2021 –Central Tax (Rate) Amendment made to notification No.11/2017-Central Tax (Rate), …

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 …