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The due date for filing the yearly returns (GSTR 9 & 9C Form) of the goods and services tax (GST) 2019-20 is prolonged by the government by 2 months post demand of the interval sought by the companies on the basis of difficulties in compliance and interruptions because of coronavirus. Current Due Date for GST […]
A recent amendment to the Goods & Services Tax Rule 36, which is expected to help curb fake invoicing, has raised a storm of complaints from taxpayers across social media, who believe that the amendment will reduce the amount of Input Tax Credit A complete guide for understanding the basics of input tax credit and […]
The Maharashtra Goods and Services Tax Department (MGSTD) stated the usual method for GST audits below Section 65 of the MGST Act, 2017. Under Section 65 of MGST Act, 2017 the Maharashtra GST council is starting audits below Section 65 of the MGST Act in the case of chosen RTPs. This announcement is given to […]
The Central Board of Indirect Taxes and Customs (CBIC) has recently intimated Central Goods and Services Tax Rules (Fourteenth Amendment), 2020 via Notification No. 94/2020-Central Tax dated December 22, 2020. The said notification notifies Form GST REG-31 for ‘Intimation for suspension & notice for cancellation of registration‘ under Rule 21A of the Central Goods and […]
The Odisha Authority of Advance Ruling (AAR) held that there will be no Goods and Service Tax (GST) on the grounds of reverse charge which is applied to the Supply of service to Odisha Power Transmission Corporation Limited. The petitioner is the owner of the Electric power company service limited (TEPSCO) which is a Japan-based […]
Form GST REG-30 gets submitted or uploaded by the proper officer, it is actually a verification report that contains all the details of the physical verification under Goods and Services Tax (GST) conducted of the person’s place of business. This article shed light on the provisions relating to filing of a report in form GST […]
The central government has inserted a rule to prevent fraud from claiming an input tax credit under the GST. Now, businesses having a monthly turnover above ₹ 50 lakh will require to pay at least 1% of their GST in cash. Latest Changes for New Rule Under 86B of CGST Act Recently there was a […]
Due to the lockdowns and restrictions caused by Covid-19 Pandemic, schools and colleges started conducting online classes but now they will face a problem under the Goods and Services Tax (GST) structure. Actually, many educational institutions chose to provide e-learning facilities to their students, and because of this, they invested in IT equipment and infrastructure. […]
Beneath the previous electronics manufacturing incentive policy the manufacturing units given the goods and service tax (GST) worth Rs 35,634 cr in which the provided subsidy was just Rs 1021 cr which shows that the substantial cost advantage for the government which the GST will only enhance below the new production associated incentive (PLI) policy. […]
