Changes in GST Law effective from January 1st 2022
Blocking of GSTR-1 for non-filing of GSTR 3B:- GSTR-1 return filing facility will be blocked on failing of submitting GSTR 3B for two previous periods. GST Provision related to Input Tax Credit to the recipient:- The provisions of Section 16 of the CGST Act has been amended wherein clause 16(2) (aa) inserted. As per this provision, the details of the purchase invoice or debit note referred to in clause (a)...
Read More »Summary of Key Decisions in 43rd GST Council meeting
The 43rd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman through video conferencing here today. The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States & UTs and senior officers of the Ministry of Finance & States/ UTs. The GST Council has made the following recommendations relating to changes in...
Read More »GSTN: Downloading Document-wise Details of Table 8A of Form GSTR-9
1. A facility has been provided to the taxpayers to download document wise details of Table 8A of Form GSTR-9, from the portal in excel format. This can be done by using a new option of ‘Document wise Details of Table 8A’ given on the GSTR-9 dashboard, from Financial Year 2018-19 onwards. This will help the taxpayer in reconciling the values appearing in Table 8A of Form GSTR 9, thus...
Read More »Form PMT-09: Importance, Use and Guidance to File Form PMT-09
Form GST PMT-09 is now available on GST portal. It enables a taxpayer to file form GST PMT 09 for transfer of any amount of tax, interest, penalty, fee or others available under one head to another head in the Electronic Cash Ledger. To file Form GST PMT-09, a taxpayer is required to login on GST portal and navigate to Services > Ledgers > Electronic Cash Ledger > File GST...
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Now the GST Taxpayers can file their GSTR-3B Returns in a Staggered Manner
Ministry of Finance Now the GST Taxpayers can file their GSTR-3B Returns in a Staggered Manner Posted On: 22 JAN 2020 6:29PM by PIB Delhi Considering the difficulties faced by trade and industry in filing of returns, the government has decided to introduce several measures to ease the process. The Finance Ministry today said that now GST taxpayers can file their GSTR-3B returns in a staggered manner. Presently the last...
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Summary to Circular No. 129/48/2019-GST Dated 24.12.2019
GST department is all set with harsh decision to send automated SCNs to non-filers of 3B within 5 days of due date. Department has issued Circular No. 129/48/2019-GST Dated 24.12.2019 Following are the summary to Circular No. 129/48/2019-GST Dated 24.12.2019 Being a registered taxpayer, you are required to furnish return (GSTR 3B) by prescribed due date (20th of following month). If taxpayer does not file return by prescribed due date,...
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Threshold limit of registration under GST
Threshold limit of registration under GST Section 22 to Section 30 of the CGST Act, 2017 deals in registration under GST by every supplier of goods and services. Find below note on registration with effect from 1st April 2019.
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Apportionment of credit and blocked credits-Section 17 of CGST Act
Apportionment of credit and blocked credits. Section 17 of CGST Act Apportionment of credit and blocked credits Section 17 (5) Section 17(5)(a), (aa) [newly inserted subsection] and (ab) [newly inserted subsection] – Blocked credit on motor vehicles Section 17 (5)(a) –– ITC Shall not be available in respect of Motor vehicles for transportation of persons having approved seating capacity of not more than thirteen persons (including the driver) except when...
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ZERO RATED SUPPLY IGST Act
ZERO RATED SUPPLY IGST Act 16. (1) “zero rated supply” means any of the following supplies of goods or services or both, namely:–– export of goods or services or both; or supply of goods or services or both to a Special Economic Zone developer (SEZ) or a Special Economic Zone unit (SEZU).
Read More »Circular No. 129/48/2019 – GST
Circular No. 129/48/2019 – GST CBEC-20/06/04/2019-GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing New Delhi, Dated the 24th December, 2019
Read More »GST Flyers
Flyers on important topics of GST are being brought out by the National Academy of Customs, Indirect Taxes, &Narcotics (NACIN),the apex training institution under the Central Board of Excise & Customs (CBEC). These Flyers are being issued from time to time and are available on the GST Council website as well as the CBEC website. Till date, 51 Flyers have been issued and more are being issued on an ongoing...
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Job Work Service to Foreign Customer under GST: AAR
18% GST applicable to Job Work Service to Foreign Customer: AAR Fact of the Case 1. M/s Synthite Industries is the applicant in the present case. 2. It entered into a contract with foreign company as Job Worker for processing of tea. Raw material /packing material and all other things are supplied by the foreign company & after completion of processing work it will be exported to the principal.
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Notification No. 49/2019 - Central Tax dated 09-10-2019
The CBIC, vide Notification No. 49/2019 – Central Tax dated October 9, 2019, had, inter alia, inserted a new sub-rule (4) to Rule 36 of the Central Goods and Services Tax Rules, 2017 which states that a registered person can claim maximum 20% ITC from the eligible credit available in GSTR 2A against those invoices or debit notes which is not filed by their supplier in GSTR 1 (which means...
Read More »Gist on GST Amendment Act 2018 applicable w.e.f. 01.02.2019
GST Amendment Act 2018 applicable w.e.f. 01.02.2019 vide Notification No. 02/2019 – Central Tax Dated 29th January, 2019. ???????Section 9(4) – Application Reverse charge Mechanism in case of purchase from unregistered persons. Reverse Charge shall be applicable on notified classes of registered person for the purchase of specified goods and services from unregistered dealers. The Government shall, by notification, specify such “specified goods or services and specified classes of regis
Read More »Section 10 of CGST Act Amendment
Section 10 – Composition Scheme Threshold limit of turn over raised from 1 Crore to 1.5 Crores. And composition scheme dealers also allowed to supply services (other than restaurant services) upto limit of 10% of total turnover or 5 lakhs whichever is higher.
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