Powerd By SAG INFOTECH
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Finally, the CBIC portal has issued an order for all the taxpayers so that they can file annual returns till 31st March 2019.
According to the latest notification from the CBIC, it has been cleared that the e-commerce companies now will not be collecting the TCS from the suppliers who had a turnover not exceeding INR 20 lakhs and also not registered under the GST.
Finally, the prime minister takes the step into the long pending GST refund issues of the exporters as the PMO organized a meeting with Mr. Narendra Modi to listen all the related grievances summoning the CBIC.
The Central Board of Indirect Taxes and Customs (CBIC) has today issued a notification revealing the due dates for the filing of GST returns for the period of FY 2018-19 (between July 2018 to March 2019).
In a major relief provided by the CBIC, the agency has now allowed the PAN submission of exporters for the GST refund clearance in case any refund is held up due to the mismatch of any details such as GSTIN printed on return forms or shipping bills.
The CBIC or The Central Board of Indirect Taxes and Customs has directed its field offices to charge GST on goods stored in customs warehouses by the third party only during final clearance. The move comes after the amendment in the Customs Tariff Act.
Many chartered accountants and GST experts in India had applied to become a practitioner of Goods & Services Tax, however, the applications of many of them are still under processing.
The Goods and service tax is the biggest reform by the Indian government to tackle the complex tax rate structure that was followed until now.
The GST council and the CBEC are being considered as the topmost authority in the upcoming goods and service tax direction. And ahead of GST, the finance ministry is in full preparation to change the name of old The Central Board of Excise & Customs (CBEC) into the specific Central Board of Indirect Taxes & Customs (CBIC) as soon as possible.
