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The GST annual return forms, GSTR-9, and GSTR-9C would be available on the portal for filing. GSTR 9 is a Return Form and GSTR-9C is a Reconciliation Statement. 31st Dec 2022 will be the due date to file the annual statement and return. Submit Query for GSTR-9 Software GSTR-9 form is said to be the […]
The Comptroller and Auditor General (CAG) suggested that the indirect tax department must finish the verification of the transitional credit permitted beneath the process of GST. Since it is the GST transition part that was incorporated from 1st July 2017, assessees were permitted to furnish the GST Form TRAN-1 and claim for the tax credit […]
An effective ruling which is notified on Monday ruled that the Delhi High Court has revoked a re-assessment notice under section 148A/148A(d) of the Income Tax Act, 1961 issued on the basis of reconciliation between the income tax returns and GST returns data. The applicant (taxpayer), M/s Best Buildwell Private Limited before the high court […]
The Central Board of Indirect Taxes and Customs circulated the clarification on the GST imposed on multiple goods and services. The indirect tax body via several GST circulars has addressed the problems towards issues around liquidated damages, penalty on cheque bouncing, delayed payment charges, recovery from employees for bond payment/forfeiture of salary, and others. Latest […]
The Supreme Court (SC) rendered the Centre and the Goods and Services Tax Council to provide the advisory to states for executing a digital system for all communication sent by GST officers to the assessee. This decision, if executed would draw clarity and accountability to the indirect tax administration and ensure that the assessee would […]
Under section 9(5) of the Central GST Act, 2017 the Goods and Services Tax ( GST ) portal has enabled Table 3.1.1 in GSTR-3B for reporting supplies. In the former month, the GST made a new table 3.1.1 in GSTR-3B form. As per section 9(5) of the CGST Act, 2017, an Electronic Commerce Operator (ECO) […]
GST has been incorporated in India in 2017. This has changed the indirect tax systems of the country. Seeing its ups and downs the government and industry have acknowledged that its stability could be attained if both give and take come at equilibrium. It is one of the reasons that the government has provided the […]
GST e-invoice compliance: Wef October 1 the e-invoicing for businesses with an aggregate turnover of Rs 10 cr or more, under the goods and services tax, or GST regime would become essential. The government has reduced the limit from Rs 20 cr at the current time in a bid to manage the revenue leakage and […]
A Group of ministers would need to see towards the rate rationalization by the Goods and services tax council is thinking to maintain an 18% and 28% slab and ending a 12% slab. People who know about the development, the majority of the members of the group learn that a 12% slab accounts for nearly […]
