Due Date for Filing GSTR-9 and 9C of F.Y. 2019-20 Further Extended
The CBIC has extended the due date for filing GSTR-9 and 9C of F.Y. 2019-20 to 31st March, 2021. Earlier due date was 28th February, 2021.
GST Registration 2021: Basic Things You Should Know
According to the Rules of Goods and Services Tax, any business whose turnover falls above Rs. 40 lakhs (Rs 10 lakhs for special category states) have to register as a normal taxable person. To enroll this taxable person under GST is defined as the GST Registration.
From Earning Rs. 1000 Per Month to Become Expert in GST and Helping Professionals Across the Country: Inspirational Story of Tax Concept’s Co-Founder Dhanraj Sharma
Mr. Sharma belongs to a small village of Nagaur District in Rajasthan State. He completed his secondary education from his village and then relocated to a small city for further education. After completing 12th, he moved to Jodhpur city for pursuing CA.
Step by Step Process to Online PAN Card Update/Correction
Services Provided by an Indian Firm to Foreign Firm as an Intermediary will be Liable to CGST+SGST Instead of IGST: Gujarat AAR
Ruling Sought for: M/s. Sagar Powertex Pvt. Ltd., Sagar House, Indian Red Cross Society, Nr. Old Vadaj Circle, Ashram Road, Ahmedabad -380013 having a GSTIN: 24AADCS0473P1Z3, is a company filed an application for Advance Ruling under Section 97 of CGST Act, 2017 and Section 97 of the GGST Act, 2017 in FORM GST ARA-01 discharging the fee of Rs. 5,000/- each under the CGST Act and the GGST Act.
Important Advisory on GSTR-9 Annual Return by GSTN
The taxpayers are advised to ensure that values are reported upto two decimal places in the GSTR-9 offline utility. The error “Error! Invalid Summary payload” after uploading the JSON created from the Offline Utility of GSTR-9 is reported due to reporting values upto three decimal places instead of two decimals.
Proud: India Shared Some Priorities Under Financial Co-operation Agenda in a Meeting with BRICS Finance and Central Bank Deputies
India hosted a Meeting of BRICS Finance and Central Bank Deputies virtually here today and was co-Chaired by Shri. Tarun Bajaj, Secretary Economic Affairs, Ministry of Finance, and Dr. Michael Patra, Deputy Governor, Reserve Bank of India. Other participants included BRICS Finance and Central Bank Deputies of Brazil, Russia, China and South Africa.
Rajasthan Government Launches Amnesty Scheme 2021 For Various Acts
In today’s budget, the government has announced many initiatives which includes Amnesty Scheme, 2021 for outstanding demands or disputes under various acts prescribed in the said scheme.
Advisory on Annual Return (GSTR-9) Offline Utility
Rajasthan Budget 2021 Highlights
File your Annual Return along with Reconciliation statement GSTR-9C before February 28, 2021(Update)
FAQ on Dynamic Quick Response (QR) Code on B2C Invoices and Compliance
CBIC notifies class of person to whom Aadhar authentication not applies
Advisory on Reconciliation Statement (GSTR-9C )
CBIC provides facilitation for exporters having IGST refund issues
4 Myths About CA Exams
Myth-1: Students with average grades in class 10/12 can not clear CA exams. Reality: Evidenced many students with average grades getting ranks in CA exams.
May 2021 CA exams dates released, papers to start from 3 PM
Schedule of ICAI Chartered Accountant Exam – May 2021
Jodhpur: Fraudster Formed Fake Company in the Name of a Daily Wage Laborer. Investigation Reveals Bogus Billing of Rs. 24 Crore
Nainaram Meghwal, a daily wage laborer from Dungarpur, a small village near Roht in Pali, was turned into a diamond business worth Rs 23.80 crore by the GST fraud gang. Through a NREGA mate, fraudulent documents were obtained, then opened a fake company in his name and started GST theft and bogus billing.
Is Your Export Refund Stuck due to Mismatch between GSTR-1 and GSTR-3B? Here is Big Relief Provided by the CBIC
The Central Board of Indirect Taxes & Customs (CBIC) has issued Circular No. 04/2021-Customs dated 16th February 2021 regarding extension of IGST Refund Circular for records not transmitted due to GSTR1 & GSTR3B mismatch error up-to 31.03.2021.
Over Rs 26k crore MSME dues cleared during May-Dec 2020 but govt can’t force buyers to pay: MoS Finance
Elon Musk Says He will Support Sales by Top Dogecoin Holders
Elon Musk, who’s been a vocal supporter of Dogecoin, said there’s too much concentration of the coins among its major holders and he will support them if they sell their coins.
CGST Delhi Arrested 4 More Beneficiaries of Loopholes in GST System
In the ensuing initiative to counter the menace of fake billing operations, the officers of Central Goods and Services Tax (CGST) Commissionerate, Delhi North, on the basis of intelligence developed through extensive data analytics, have unearthed a network of fictitious firms to generate goods-less invoices and pass-on fake Input Tax Credit to multiple beneficiaries. In all, four individuals were arrested in three different cases in terms of Section 69(1) of the CGST Act, 2017 for commission of offences under Section 132 (1) of the CGST Act, 2017. The total Input Tax Credit involved in the three cases is Rs. 178 crore. Further investigations in all the matters are in progress and the amount of fake credit and total number of companies/persons involved are likely to increase.
Exposure Draft Standard for Audit of Smaller and Less Complex Entities (SA-SLCE)
FASTag Declared Mandatory from Midnight of February 15. Violators to Pay Double Fees
Ministry of Road Transport & Highways has decided that all lanes in the fee plazas on National Highways shall be declared as “FASTag lane of the fee plaza” w.e.f midnight of 15th/16th February 2021. Therefore, as per NH Fee Rules 2008, any vehicle not fitted with FASTag or vehicle without valid, functional FASTagentering into the FASTag lane of the fee plaza shall pay a fee equivalent to two times of the fee applicable to that category.
Have you Reconciled Your Books with GST Returns? If Not, This News is For You!
Department has issued below circular prescribing Standard Operating Procedure (SOP) to be followed in case of suspension of GST Registration due to discrepancy between “GST payable and actual GST paid”. To protect yourself from this type of notice or suspension of registration, please reconcile your books with all GST Returns and pay short-fall in tax with interest. Remember that if you have not filed your GSTR-9/9C for relevant year, the details as available in GSTR-1/ GSTR-3B/ GSTR-2A will be final.
CA Nihar Jambusaria becomes ICAI’s new president
NEW PRESIDENT & VICE PRESIDENT OF ICAI
1. CA. NIHAR N JAMBUSARIA (President of ICAI)
2. CA. DEBASHIS MITRA (Vice President of ICAI)
2 GST Frauds Worth Rs. 445 Crore in Only 5 Days
It is apparent from the investigation conducted till date, that Shri Surender Kumar Gupta, Director of M/s. Mystic Exim Pvt. Ltd., M/s. Landmark Traders Pvt. Ltd. and Controller of M/s. JKM Impex forged documents to show receipt of goods in his above mentioned companies/firms from multiple fictitious/non-existent entities, which never existed at their given addresses. The entities of Shri Surender Kumar Gupta had further passed on the fake ITC to multiple exporter firms, who had further encashed such ITC through fraudulent IGST refunds.