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Amendment in interest provisions is retrospective
Amendment in interest provisions: Section 50(1) of CGST Act is proposed to be amended. Finance bill 2019 has proposed a change. It contains the provisions related to interest in GST. After the Telangana High court case of Megha Enterprises bulk notices is issued. Huge demand
CA Shafaly GirdharwalProposed changes in CGST Act by FB 2019
Finance bill 2019 introduced new changes in CGST Act: Clauses 91 to 112 of finance bill 2019 introduced changes in CGST Act. These changes are important. Following is a brief table of all changes. Sl.No Clause Amendment Impact 1 Clause No.91 Section 2 Adjudicating
CA Shafaly GirdharwalClarification related to ITes services in GST
Introduction: Clarification related to ITes services in GST Clarification related to ITes services in GSTCBIC clarified the issues related to ITes services in GST. Circular No. 107/26/2019-GST New Delhi, Dated the 18th July, 2019. Subject: Clarification on doubts related to supply of Information Technology enabled Services
Changes via CGST (fifth amendment) Rules
Introduction:Changes via CGST (fifth amendment) Rules Notification no. 33/2019 – Central Tax has changed the CGST rules. Following changes are incorporated in CGST rules.Changes via CGST (fifth amendment) Rules are summarised below. Rule 12 of CGST rules: In clause 1A words “to deduct ” shall be
CA Shafaly GirdharwalDue date of CMP 08 is extended to 31st July
Finally the due date of CMP 08 is extended by CBIC. Notification no. 34/2019 – Central Tax issued on 18th July 2019 extended the date for filing of CMP 08. Taxpayers was in amess as the form was not live on the portal. Earlier the
CA Shafaly GirdharwalIGST Act PDF with all amendments till date
IGST Act PDF with all amendments: Dear all, You can download the IGST Act PDF with all amendments to date. It is amended by following two amendment Acts. IGST Amendment Act 2018 Finance Bill 2019 (proposed amendments) These changes are incorporated in the Act itself.
CA Shafaly GirdharwalITC on other state’s tax, can it be claimed?
ITC on other state’s tax, Can we claim it? 1. A businessmen would come across scenarios wherein they would have received supplies from the State’s where they are not registered and the place of supply would also happen to be the said State and not
Post sale discount under GST: Facile View
Introduction: CBIC has issued Circular 105/24/2019-GST on treatment of Post Sale Discount also known as Secondary discount under GST Regime. The matter has been under litigation, in view of which CBIC has vide Circular No. 105/24/2019-GST (hereinafter refereed to as ‘the Circular’) clarified the certain
When ITC of Motor vehicle is allowed in GST
ITC of a motor vehicle in GST: Every taxpayer is eligible for ITC taken on inward supplies used for business. Even the supplies intended to be used for business are eligible. Section 17(5) of CGST Act lists the items not eligible for ITC. This section
CA Shafaly GirdharwalCMP 08 not live! Do I need to pay tax before 18th
challan CMP 08 not live yet: Will I be liable for interest? CMP 08 not live yet. Today is the last date to file it. CMP 08 is a new statement for all composition taxpayers. The taxpayer is in a huge dilemma. There is a misconception
CA Shafaly GirdharwalHow to adjust ITC in 3b to reduce cash outflow?
Auto adjusted ITC in GSTR 3b: Need to adjust ITC properly In GSTR 3b you enter the sale and ITC for the month. It calculates the amount of payment required for the month. don’t rely on that figure. This calculation is not as per GST
CMP 08 date extension soon
CMP 08 date extension demand by the taxpayer It is again a nightmare. Tomorrow it is the last date to file CMP 08 but the form is not live on GST portal. Every composition taxpayer is asking for this form. There is a genuine demand