Summary of GST Circular 161: Summary of GST Circular 160: Clarification relating to the export of services-condition (v) of section 2(6) of the IGST Act 2017 Summary of GST Circular 164: GST Rates and Classification of Goods/Services October marked the completion of a year of e-invoicing....
In case any GST tax evasion is found out from the taxpayer's side, his GST Certificate will be cancelled as a suitable legal action. #6. Flout of norms GST registrant has violated any rules or provisions as, under CGST Act 2017, he will be subject to statutory GST cancellation. ...
Section 16 of the CGST Act specifies the eligibility and conditions for availing ITC. Where a person is eligible for a claim of full ITC, the value of supply of corporate guarantee will be based on the invoice value instead of the deemed value. ...
The GSTN (Goods and Services Tax Network) will soon allow metal scrap dealers to register for TDS (Tax Deducted at Source) under section 51 of the GST Act. View more 11th October 2024 GSTN has been enabled in four new states Odisha, Kerala, Nagaland, and Telangana, for the verification...
16/2024 dated 06/08/2024: Sets the implementation dates for specific provisions of the Finance Act, 2024. Section 13 will be effective from October 1, 2024, and Sections 11 and 12 from April 1, 2025. Latest GST News and Updates in August 2024 A comprehensive manual guide has been ...
As per the rules, all the taxpayers will have to file an annual return form with GSTR 9 but now in an addition to the current rule, Section 35 of CGST Act, 2017, all those taxpayers having turnover exceeding 2 crores in a financial year will have to submit audited annual accounts alon...
Section 74 Invocation to be Considered as Preliminary Issue. Issue: Whether the validity of invoking Section 74 of the CGST/KGST Act, which pertains to fraud, misstatement, or suppression of facts, should be treated as a preliminary issue before proceeding with final adjudication of a show cause...
Document where ITC is ineligible due to POS rules & Section 16(4) of CGST Act (time limit) Documents where ITC is to be reversed on account of Rule 37A (Reversal of input tax credit in the case of non-payment of tax by the supplier and re-availing thereof) FAQ 5. What are the ...
Section 20 of IGST Act,2017 Application of provisions Tax wrongfully collected and paid to Central Government or State Government, IGST Act,2017 Zero rated supply, section 16 of IGST Act,2017 section 14 of IGST Act,2017, Special provision for payment of tax by a supplier ...
ITC Claimed afterwards: Where the input tax credit in respect of any invoice or debit note has been claimed after the time limit prescribed in Section 16 of CGST ACT 2017. Supplier GSTR-3B not filed: Input Tax Credit has been availed in case where the supplier has not filed the GSTR-...