New GST Rule for Cancellation of Registration Notification No. 94 /2020 – Central Tax : CGST (Fourteenth Amendment) Rules, 2020. In the said rules, in rule 21,- (a) in clause (b), after the words “goods or services”, the words “or both” shall be inserted; (b) after clause (d), the following clauses shall be inserted, namely:-… Read More »
Claim Provisional ITC in GSTR 3B Amendment in Rule 36(4) As per the prevailing norms, you could claim a credit of up to 110% of the eligible ITC reflected in GSTR 2A in GSTR 3B, which has now been reduced to 105% w.e.f 01.01.2021 Not only this, but it is also necessary for the supplier… Read More »
Seeks to make the Fourteenth amendment (2020) to the CGST Rules.2017 [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 94 /2020 – Central Tax New Delhi, the 22nd December, 2020… Read More »
Seeks to bring into force Sections 119,120,121,122,123,124,126,127 and 131 of Finance Act, 2020(12 of 2020). [To be published in the Gazette of India, Extraordinary,Part II,Section 3, Sub-section (ii)] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No 92/2020-Central Tax New Delhi, the 22nd December, 2020 S.O.… Read More »
Webinar for taxpayers on Quarterly Return Filing and Monthly Payment of Taxes (QRMP) Scheme 22/12/2020 With effect from 1st January, 2021, all taxpayers filing Form GSTR 3B with Aggregate Annual Turnover of up to Rs 5 Cr. in the previous financial year, persons obtaining a new registration or taxpayers opting out of Composition Scheme would… Read More »
National Informatics Centre e-way bill Project Generation of E-way Bills by Transporters for e-invoices e-Invoice is launched on 1st Oct 2020 successfully for the tax payers having annual turnover more than Rs. 500 Crores. More than 33000 tax payers have accessed this system and generated more than 1250 Lakhs of IRN from the NIC portal,… Read More »
Ignore prompt on liability for inward supplies attracting reverse charge in Table-3.1 (d) 19/12/2020 The system has started providing auto-populated GSTR-3B on the basis of GSTR-1 & GSTR-2B from the tax period of November 2020 onwards. In this auto-populated GSTR-3B, liability on account of inward supplies attracting reverse charge auto-populated in Table-3.1(d) is also drawn from GSTR-2B… Read More »
Due dates for filing of Form GSTR-3B for the Tax Periods from October, 2020 till March, 2021 17/12/2020 Government of India, Ministry of Finance (Department of Revenue), CBIC, vide Notification No. 82/2020 – Central Tax, dated 11th Nov., 2020, has added sub rule (6) to Rule 61 of the Central Goods and Services Tax Rules, 2017,… Read More »
Taxmann’s GST Law & Practice – A Compendium of CGST/IGST Acts along with a Gist of Relevant Rules/Circulars/Notifications & Case Laws | 2021 Edition Paperback – 8 December 2020 by CA (Dr.) Arpit Haldia (Author), CA Mohd. Salim (Author) Buy online Click here Description This book provides a complete coverage of the GST Law. What sets it apart, is the… Read More »
Auto population of details in Form GSTR-3B from Form GSTR 1 & GSTR 2B 15/12/2020 Auto Populated details in Form GSTR 3B: Now, auto-population of system computed details in Form GSTR-3B, has been enabled for taxpayers (filing their Form GSTR-1 on monthly basis), from November 2020 Tax Period onwards. The same will be done based on… Read More »