GST Appellate Tribunal
The Council adopted the report of the Group of Ministers with certain modifications. The final draft amendments to the GST laws shall be circulated to Members for their comments. The […]
Union budget was presented by the Finance minister. Although we dont expect a lot of changes in GST. But some important amendments are incorporated into GST by FM via FB 2023. Here we have compiled the clausewise […]
Introduction
Most commonly, in contracts of leasing a building or apartment, the property owner collects rent from the tenant along with the reimbursement of electricity charges on an actual basis. In most such […]
ITC is not to be availed if it is in the restricted category of GSTR-2B 2
Reference to Section 43A removed from the conditions for availment of ITC 2
Extension of the due date of availment of ITC to 30th […]
Following is our analysis of the recommendations made in the 43rd GST Council meeting:
Reduced late fees for taxpayers filing GSTR-3B between 1st June 2021 -31st August 2021
➢ Late Fees for GSTR-3Bof the tax p […]
Sectionwise Analysis – GST Amendments (Finance Bill 2021)
1. Transaction between a person (other than an individual) to its members for consideration to be treated as a supply
Source
GST Amendments Notified on 22.12.2020
The Government has via Notification no. 94/2020-Central tax dated 22nd December 2020 made the following changes in CGST Rules, 2017:
Restriction on use of amount available […]
Interest on Net Tax Liability – Prospective or Retrospective?
Interest provisions and Brief History
➢ Interest is on failure to pay the tax within the prescribed period
Due date of compliances (other than returns) extended to 31 st August 2020
Where the time limit of any of the following actions falls between 20th March 2020 to 30th August 2020, the due date of the same would […]
Waiver / Reduction of late fees and interest for taxpayer due to COVID-19
For the States of Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, […]
All About Interest In GST – Past, Present, and Future Outlook
History of Interest under GST
When the GST got introduced from 1st July 2017, quite a number of registered persons were struggling to come to terms […]
Waiver of Interest and Late fees for GSTR-3B and GSTR-1
Illustration: Calculation of interest and late fees for delayed filing of return for the month of March 2020 (due date of filing being 20.04.2020) may […]
Everything that’s wrong with the refund circular no. 135
Quite a few restrictions have been imposed regarding the refund of taxes through Circular no. 135/05/2020-GST dated 31st March 2020. There are quite a few […]
Following are the proposed GST related relaxations announced by the Finance Minister due to COVID-19 outbreak:
Extension of time limit for filing GSTR-3B
Extension of time limit for filing GSTR-1
There shall […]
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 […]
GST AMENDMENTS – HIGHLIGHTS AT A GLANCE
1. Union Territory to include ‘Ladakh’ & ‘Dadra and Nagar Haveli and Daman and Diu’
Source
Clause 116 of the Finance Bill,2020.
Clause 135 of the Finance Bill, 202 […]
Changes in Job Work rates –
Differently Decoded Effective from 1st October 2019 vide Notification no.20/2019-Central Tax (rate) dated 30th September 2019, a few entries have been inserted/amended with regard to j […]
The 37th GST council meeting which was held on 20.09.2019 made the following recommendations:
LAW & PROCEDURE RECOMMENDATIONS Annual Return related […]
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Read InterviewShubham Khaitan wrote a new post, Analysis of the Recommendations of the 49th GST Council Meeting 1 year, 9 months ago
GST Appellate Tribunal
The Council adopted the report of the Group of Ministers with certain modifications. The final draft amendments to the GST laws shall be circulated to Members for their comments. The […]
Shubham Khaitan wrote a new post, Changes in GST via FB 2023 – Clausewise PDF 1 year, 9 months ago
Union budget was presented by the Finance minister. Although we dont expect a lot of changes in GST. But some important amendments are incorporated into GST by FM via FB 2023. Here we have compiled the clausewise […]
Shubham Khaitan wrote a new post, GST on reimbursement of electricity charges 1 year, 11 months ago
Introduction
Most commonly, in contracts of leasing a building or apartment, the property owner collects rent from the tenant along with the reimbursement of electricity charges on an actual basis. In most such […]
Shubham Khaitan wrote a new post, Section-Wise Gst Analysis Finance Act 2022 2 years, 1 month ago
ITC is not to be availed if it is in the restricted category of GSTR-2B 2
Reference to Section 43A removed from the conditions for availment of ITC 2
Extension of the due date of availment of ITC to 30th […]
Shubham Khaitan wrote a new post, 43rd GST Council Meeting Recommendations 3 years, 5 months ago
Following is our analysis of the recommendations made in the 43rd GST Council meeting:
Reduced late fees for taxpayers filing GSTR-3B between 1st June 2021 -31st August 2021
➢ Late Fees for GSTR-3Bof the tax p […]
Shubham Khaitan wrote a new post, Waiver of Interest and Late fees for taxpayers 3 years, 6 months ago
Taxpayers having turnover exceeding 5 Crore:
Period
Return
Due Date
Late Fees
Return Filing Date
Interest
Mar-21
GSTR3B
20/04/2021
NIL
By 05/05/2021
9% from 21/04/2021-05/05/2021
Rs. […]
Shubham Khaitan wrote a new post, Sectionwise Analysis – GST Amendments (Finance Bill 2021) 3 years, 9 months ago
Sectionwise Analysis – GST Amendments (Finance Bill 2021)
1. Transaction between a person (other than an individual) to its members for consideration to be treated as a supply
Source
Clause 99 of the Finance […]
Shubham Khaitan wrote a new post, GST Amendments Notified on 22.12.2020 3 years, 11 months ago
GST Amendments Notified on 22.12.2020
The Government has via Notification no. 94/2020-Central tax dated 22nd December 2020 made the following changes in CGST Rules, 2017:
Restriction on use of amount available […]
Shubham Khaitan wrote a new post, Interest on Net Tax Liability – Prospective or Retrospective? 4 years, 2 months ago
Interest on Net Tax Liability – Prospective or Retrospective?
Interest provisions and Brief History
➢ Interest is on failure to pay the tax within the prescribed period
➢ Section 49 – payment may be through […]
Shubham Khaitan wrote a new post, GST Amendments Notified on 27.06.2020 4 years, 4 months ago
Due date of compliances (other than returns) extended to 31 st August 2020
Where the time limit of any of the following actions falls between 20th March 2020 to 30th August 2020, the due date of the same would […]
Shubham Khaitan wrote a new post, Waiver / Reduction of Late Fees and Interest for Taxpayer due to COVID-19 4 years, 4 months ago
Waiver / Reduction of late fees and interest for taxpayer due to COVID-19
For the States of Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, […]
Shubham Khaitan wrote a new post, All About Interest In GST – Past, Present, and Future Outlook 4 years, 7 months ago
All About Interest In GST – Past, Present, and Future Outlook
History of Interest under GST
When the GST got introduced from 1st July 2017, quite a number of registered persons were struggling to come to terms […]
Shubham Khaitan wrote a new post, GST notified amendments and relaxations provided as COVID-19 relief measure 4 years, 7 months ago
Waiver of Interest and Late fees for GSTR-3B and GSTR-1
Illustration: Calculation of interest and late fees for delayed filing of return for the month of March 2020 (due date of filing being 20.04.2020) may […]
Shubham Khaitan wrote a new post, Everything that’s wrong with the refund circular no. 135 4 years, 7 months ago
Everything that’s wrong with the refund circular no. 135
Quite a few restrictions have been imposed regarding the refund of taxes through Circular no. 135/05/2020-GST dated 31st March 2020. There are quite a few […]
Shubham Khaitan wrote a new post, Proposed GST related relaxations announced by the Finance Minister due to COVID-19 outbreak 4 years, 8 months ago
Following are the proposed GST related relaxations announced by the Finance Minister due to COVID-19 outbreak:
Extension of time limit for filing GSTR-3B
Extension of time limit for filing GSTR-1
There shall […]
Shubham Khaitan wrote a new post, RECOMMENDATIONS OF 39TH GST COUNCIL MEETING 4 years, 8 months ago
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 […]
Shubham Khaitan wrote a new post, SECTIONWISE ANALYSIS – GST AMENDMENTS 4 years, 9 months ago
GST AMENDMENTS – HIGHLIGHTS AT A GLANCE
1. Union Territory to include ‘Ladakh’ & ‘Dadra and Nagar Haveli and Daman and Diu’
Source
Clause 116 of the Finance Bill,2020.
Clause 135 of the Finance Bill, 202 […]
Shubham Khaitan wrote a new post, SECTIONWISE ANALYSIS – CUSTOMS AMENDMENTS 4 years, 9 months ago
CUSTOMS AMENDMENTS – HIGHLIGHTS AT A GLANCE
1. Amendment in Section 11(2)(f) under Chapter IV of Custom Act 1962
Source
Clause 105 of the Finance Bill,2020.
Effective Date
Date to be notified by th […]
Shubham Khaitan wrote a new post, Changes in Job Work rates – Differently Decoded 5 years, 1 month ago
Changes in Job Work rates –
Differently Decoded Effective from 1st October 2019 vide Notification no.20/2019-Central Tax (rate) dated 30th September 2019, a few entries have been inserted/amended with regard to j […]
Shubham Khaitan wrote a new post, 37TH GST council meeting analysis 5 years, 2 months ago
37TH GST COUNCIL MEETING RECOMMENDATIONS:
The 37th GST council meeting which was held on 20.09.2019 made the following recommendations:
LAW & PROCEDURE RECOMMENDATIONS Annual Return related […]