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Changes in GST Law Effective from 01.01.2022
Introduction GST law has been rapidly evolving with the addition and deduction of provisions in the past four years. Now, as we welcome the New Year 2022, the Government has presented us with some changes to be made effective from the 1st of January, 2022.
Jan’22 GST Return Legal Changes and Precautions
There are many amendments proposed from 1st January 2022. Among them, the most crucial two which would impact all taxpayers are related to the legal changes for availing ITC and filing GSTR-1 and GSTR-3B which have been notified vide Notification No 39/2021-Central Tax dated 21st
W.e.f. 01.01.2022 – Mandatory Matching of Input Tax Credit ITC Can Be Availed Equal to ITC Reflected in GSTR 2a/2b
W.e.f. 01.01.2022 ITC in GSTR-3B can be availed only when the invoice details have been furnished by the Supplier in its GSTR-1 and the same has been communicated to the recipient in GSTR-2A/ 2B. Section 16(2)(aa) of the CGST Act (as inserted by Finance Act
GST Refunds Stuck Due to Difference Between Fob Value and CIF Value: an Analysis
It is seen that the CBIC and DGARM have held back many refunds of exporters due to the difference between the FOB Value of exports as reported in the Shipping Bills and the CIF Value as reported in the GST Invoices which also find a
GST ConsultancyDue Date Compliance Calendar Dec 2021
A. Due dates for Compliances under GST 31-12-2021- GSTR 9 – The Most Comprehensive Annual Return for FY 2020-21 by ALL registered persons having an aggregate turnover of more than Rs. 2 Crores or opted to file Annual Return. However, registered persons with aggregate turnover
GST ConsultancyDue Date Compliance Calendar Nov 2021
A. Due dates for Compliances under GST GSTR-3B – Monthly GST Return Turnover in the previous financial year Return for the month Extended Due Date For Taxpayer with Annual Turnover More than Rs 5 crore For Taxpayer who is not opting for QRMP Scheme having
GST ConsultancyGST for Beginners – Learn GST Step by Step with the Best Online Course
When the entire country was under lockdown, businesses still continued. A business can’t run without proper management of taxes. Even in the lockdown, the professionals were handling the GST compliance. Good thing is that they could do it while sitting at home. This made taxation
GST ConsultancyCancellation of Registration Under GST – Why, How & What to Do After Cancellation?
Life is full of uncertainties. You had taken the GST number with a lot of frenzies, but due to some unforeseen circumstances, you have to get it cancelled. There may be multiple reasons for it. Some in your control, some maybe not. Today we are
A Synopsis of Key Recent Developments Under GST
A GIST of GST Updates: This article summarizes all the GST developments which have been announced in the past four weeks for easy and quick reading of the professionals. The updates have been arranged in the relevant order starting from the GST legislative amendments, CBIC
GST ConsultancyTop 10 GST Courses in India
GST or Goods and services tax is a value-added tax levied on domestically sold goods. It is paid by consumers then after businessmen remit it to the government. In July 2017 GST was launched in India to eliminate tax on tax, from manufacturing level to
GST ConsultancyGST Login – Step by Step Guide on How to Login to Government GST Portal India
GST portal is a large citadel having many hidden chambers and secret pathways. Every business man has to become Arjuna and not Abhimanyu to pass through this conundrum and file his monthly returns and pay taxes smoothly. Today we shall tell you, how to sail
Revised tax invoice in GST
Revised tax invoice in GSt Revised tax invoice in GST (1) A revised tax invoice referred to in section 31 and credit or debit note referred to in section 34 shall contain the following particulars – (a) the word “Revised Invoice”, wherever applicable, indicated prominently; (b)