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West Bengal Settlement of dispute application up to 30th June
Notification No. 436-FT., the 23rd day of March 2020:- In exercise of the power conferred by sub-section (1) of Section 5 of the West Bengal Sales Tax ( Settlement of Dispute) Act, 1999 ( West Ben. Act IV of 1999), as subsequently amended, (hereinafter referred to
Clarification in respect of appeal in regard to the non-constitution of Appellate Tribunal
To, The Pr. Chief Commissioners / Chief Commissioners / Principal Commissioners / Commissioners of Central Tax (All) The Principal Director Generals / Director Generals (All) Madam/Sir, Subject: Clarification in respect of appeal in regard to the non-constitution of Appellate Tribunal – reg. Various representations have
GST and Corona Impact and Way forward
GST and Corona Impact and Way forward How Corona affected business? 1. Global slowdown GST / VAT has a direct correlation to consumption trends Global inward and outward travel, transport and trade is severely impacted due to border closures Due to corona, the world has
New Fake invoice case by an anti-evasion team
Press Release Officers of Anti-Evasion, Central GST Commissionerate, Delhi East, having unraveled an operation involving availment of fraudulent Input Tax Credit on the basis of fake invoices and evasion of GST by utilizing the said fraudulent ITC to the tune of Rs. 24 crores approx.
Foreign airlines exempted from furnishing reconciliation Statement in FORM GSTR-9C
Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No.09/2020– Central Tax G.S.R……(E).— In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to
RECOMMENDATIONS OF 39TH GST COUNCIL MEETING
IT Related Roadmap Shri Nandan Nilekani, on behalf of Infosys, made a presentation addressing the system related issues that are being faced by the taxpayers in the GST system. He first gave a summary of the recently observed IT issues and the way forward to
AMENDMENTS PROPOSED IN 39TH GST COUNCIL MEETING AS PER PRESS RELEASE
AMENDMENTS PROPOSED IN 39TH GST COUNCIL MEETING AS PER PRESS RELEASE GST MONTHLY RETURNS, ANNUAL RETURNS, RECONCILIATION STATEMENT, INFORMATION RETURN 1. New GST Returns- RET-1, Annex-1, Annex-2 has been deferred for the time being till 30.09.2020. GST Returns being GSTR 1 and GSTR 3B will
39TH GST COUNCIL PROPOSALS 14/03/2020
39TH GST COUNCIL PROPOSALS 14/03/2020 INTEREST LIABILITY INTEREST FOR DELAY IN PAYMENT OF GST TO BE CHARGED ON THE NET CASH TAX LIABILITY W.E.F. 01.07.2017 Law to be amended retrospectively. Most welcome change Whether any RTP who have paid gross liability, will they get refunds?
No GST audit for less than 5Cr turnover taxpayers
In a big move, GSTR 9C is waived off for taxpayers having a turnover of less than 5Cr. They will be required to file an annual return only. The annual return is required to be filed in GSTR 9. For the financial year 2018-19, it
DISCOUNTS/INCENTIVES- GST IMPLICATIONS
DISCOUNTS/INCENTIVES- GST IMPLICATIONS CHARGING PROVISIONS Sec 9(1) of the CGST Act, 2017 Subject to the provisions of sub-section (2), there shall be levied a tax called the central goods and services tax on all intra-State supplies of goods or services or both, except on the
Interest liability arising due to the late filing of GSTR 3B
To ……………… ………………… ………………….. Sub: Interest liability arising due to late filing of GSTR 3B Ref: GSTN-……………………. Sir, We have received your notice directing us to pay the interest @18% per annum as per Section 50(1) of the CGST & SGST Act on gross output
STEPS FOR ROLL OUT OF E-INVOICE
STEPS FOR ROLL OUT OF E-INVOICE e-invoicing in GST ➢ What is an e-invoice? Issue of a tax invoice in an electronic format to the recipient and validated/authenticated by the tax administration before it is transmitted to the receiver. ➢ What are the benefits of