Availability of Input Tax Credit (ITC) for FY 2020-21: As per Section 16(4) of CGST Act, 2017, no taxpayer can take ITC for records (invoices and debit notes) for the supply of goods or services (or both) for FY 2020-21 after the due date of furnishing the return for the month...
Please note, taxpayers having turnover upto₹5 cr need to specify the filing preference for the FY 2020-21 on GST portal. 2. Capping of late fees As per GST notification 52/2020, Maximum late fees is capped to Rs. 250 for taxpayer who failed to file GSTR 3B for July, 2017 to Jan...
GSTR 4 Annual Return FY 2021-22 30th April 2022 GSTR 4 Annual Return FY 2020-21 (Revised) 31st July 2021 Note: “Extension of the due date of filing GSTR-4 for FY 2020-21 to 31.07.2021.” Read Press Release “Form GSTR-4 Annual Return by Composition Taxpayers, for the FY 2019-...
The GST Council has given the go-ahead for the Tax Administration to handle refund requests for extra IGST paid due to increased prices of goods after they were exported. read more 10th July 2024 The GSTN department has enabled the document uploads field in the new GST registration and amendm...
PCT-03: This Show Cause Notice is being issued for professional misconduct by a GST Practitioner (Consultant). RFD-08: This SCN is on your claim for GST refund itself established through this(say) SCN. ADT-01: The Directorate of Anti-profiteering issues this enquiry notice to check if you...
In a federal structure, India's determination to much-needed fiscal reforms has been widely applauded at its face value when she relinquished her previ
Filing of annual return for the FY 2019-20 The due date for claiming such ITC for 2019-20 is 20th October 2020 ( due date for filing GSTR 3B return for Sept 20). But due to the outbreak of COVID-19 the suppliers may not file returns on time and it is likely that due to the ...
Finally, CBIC has rationalized the GST Refund rules via Central Goods and Services Tax (Fourth Amendment) Rules, 2021. This will definitely help GST taxpayers. These amendments have been discussed in detail. In Short 1. Time taken to issue the deficiency memo shall not be considered for a ...
Return to Supplier:The invoice that has been digitally signed, along with the IRN and QR code, is sent back to the seller so that they can keep track of it and use it for other things, like sharing it with the buyer or filing their GST returns. ...
InTouchAsia Pacific VAT/GST Alert with indirect tax news Issue 04/18 China • Further increase in export VAT refund rates to boost export industry • Three year tax exemption on bond interest for foreign investors India • Notifications/Circulars for CGST • Case law for CGST • ...