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Notification No. 89/2020–Central Tax
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 29th November 2020 No. 89/2020–Central Tax G.S.R. 745(E).—In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017)
GST Latest Case laws-2020
GST Latest Case laws-2020 Sec. 54 (Refund of Tax) (3) Subject to the provisions of sub-section (10), a registered person may claim a refund of any unutilized input tax credit at the end of any tax period. Provided that no refund of the unutilized input
E-Invoicing – Legal Provisions & Implementation Challenges
E-Invoicing – Legal Provisions & Implementation Challenges Why E-Invoicing? • Digital Invoices / Accounting is a metric in Ease of Doing Business Ranking of countries ➢ India’s ranking moved up from 77 to 63 in 2019 • Moving digital will standardize various processes, reduce data
Unblocking of E-Way Bill Generation Facility
Unblocking of E-Way Bill Generation Facility In terms of Rule 138E (a) and (b) of the CGST Rules, 2017, the E-Way Bill (EWB) generation facility of a taxpayer is to be blocked, in case the taxpayer fails to file their returns in Form GSTR-3B or
First List For GST Departmental Audit Issued
List of cases selected for Audit under GST Act, 2017 for the period 2017-2018 SR.NO. GSTIN REG_NAM TRADE_NAME DESK_ID LOCATION DIVISION ZONE 1 27ACBPA2022P1ZX CHIRANJILAL KAMALKISHOR KAMAL KISHORE CHIRANJILAL AGRAWAL; CHIRANJILAL KAMALKISHOR AKO-SUR-C-001 AKOLA AMRAVATI NAGPUR 2 27AAGPT2640F1ZQ VENKATA SAMBA SIVA RAO TALASILA VENKATA SAMBA
E-Invoicing mandatory for Businesses having aggregate turnover above Rs.100 crore from 1st Jan’2021
E-Invoicing mandatory for Businesses having aggregate turnover above Rs.100 crore from 1st Jan’2021 E- invoices are mandatory for businesses with a turnover of Rs 500 crore and more, which has been put into effect from October 1, 2020. With effect from 1st Jan’2021 “Aligned to the recent communications by
GST Returns – One Stop Solution
GST Returns – One Stop Solution FORM New Rule effective w.e.f. 01.01.2021 Rule effective till 31.12.2020 Sec Description Detailed Description Period within which return is to be furnished The period prescribed in Section / Rule Ref. Notification No. GSTR – 01 59(1) 59(1) 37 Details
GST on Corporate Guarantees
GST on Corporate Guarantees 1. Introduction The Goods and Services Tax Regime brought a plethora of changes to the pre-existing taxation regime of the country. In the current paper, the public_profile has made efforts to take into account a wholesome view of the taxability of
Everything You Want To Know About E-Invoice
Everything You Want To Know About E-Invoice Budget Speech: GST ▪ The electronic invoice is another innovation wherein critical information shall be captured electronically in a centralized system. It will be implemented in a phased manner starting from this month itself on an optional basis. It
Workshop on GST – E-way Bill
Workshop on GST – E-way Bill Consequences of Non-Compliance of E Way Bill provision : ▪ DETENTION OR SEIZURE: As per Sec 129 of CGST Act, 2017 ✓ where any person transports any goods or stores any goods while they are in transit ✓ In
Gujarat HC Denies Integrated GST Rebate To Advance Authorization License Holders – Is It Fair?
Gujarat HC Denies Integrated GST Rebate To Advance Authorization License Holders – Is It Fair? ✔️Holders of advance authorization licenses were entitled to import raw materials without payment of integrated GST and rebate of IGST. The government changed the rules in September 2018 – retrospectively from
GST Return Filing System (version 3.0) From 01-01-2021
GST Return Filing System (version 3.0) From 01-01-2021 Intention to Overhaul GST return filing system, But is it correct solution in reality??? (NOTIFICATION 82 TO 85 to notify/amend rule 60/61/62/61A. Also Circular No. 143/13/2020 is issued) This article is presented in a manner it is