Tax & Business News, Simplified.

GST

Latest GST News, Information, Notifications & Announcements [Period 17/12/24 to 23/12/24]

by VIPUL KHANDHAR December 23, 2024December 23, 2024

GST

Latest GST News, Information, Notifications & Announcements [Period 10/09/24 to 16/09/24]

by VIPUL KHANDHAR September 16, 2024September 16, 2024

GST

GST officers to be in action mode from August 16 to October 15, 2024, may visit your shop or office soon

by TaxConcept August 14, 2024August 14, 2024

GST

GST WEEKLY UPDATE :17/2024-25 (28.07.2024)

by VIPUL KHANDHAR July 29, 2024July 29, 2024

GST

Latest GST News, Information, Notifications & Announcements [Period 11/06/24 to 17/06/24]

by VIPUL KHANDHAR June 17, 2024June 17, 2024

GST

GSTN Launches Enhanced Version of GST Portal with Key Enhancements and Screenshots

by TaxConcept April 26, 2024April 26, 2024

GST

Latest GST News, Information, Notifications & Announcements [Period 16/01/24 to 22/01/24]

by VIPUL KHANDHAR January 22, 2024January 22, 2024

GST

GSTN Unveils Game-Changing GST Portal Feature

by TaxConcept December 24, 2023December 24, 2023

MAGAZINES

Taxation Newsletter: Latest news upcoming Due Dates, Notifications / Press Information, Case Laws, International Taxation etc

by CS LALIT RAJPUT August 16, 2023August 16, 2023

GST

Latest GST News, Information, Notifications & Announcements [Period 25/04/23 to 01/05/23]

by VIPUL KHANDHAR May 1, 2023May 1, 2023

GST

Now GST payment can be made through 23 banks; Know complete list

by TaxConcept April 27, 2023April 27, 2023

GST

GST Portal is not working smoothly & many Taxpayers are facing this issue

by TaxConcept April 20, 2023April 20, 2023

GST

Latest GST News, Information, Notifications & Announcements [Period 28/03/23 to 03/04/23]

by VIPUL KHANDHAR April 3, 2023April 3, 2023

GST, MAGAZINES

Latest GST News, Information, Notifications & Announcements [Period 21/03/23 to 27/03/23]

by VIPUL KHANDHAR March 27, 2023March 27, 2023

GST

HSN Code Reporting in e-Invoice on IRPs Portal” in GST

by TaxConcept March 22, 2023March 22, 2023

Latest GST News, Information, Notifications & Announcements [Period 18/07/23 to 24/07/23]

GST

Latest GST News, Information, Notifications & Announcements [Period 28/02/23 to 06/03/23]

by VIPUL KHANDHAR March 6, 2023March 6, 2023

GST

Latest GST News, Information, Notifications & Announcements [Period 21/02/23 to 27/02/23]

by VIPUL KHANDHAR February 27, 2023February 27, 2023

GST

Dear Valued Taxpayers, Advisory on New GST e-Invoice Portal

by TaxConcept February 25, 2023February 25, 2023

GST

Very Important GST Update: Big! Changes in GSTR-3B (GST Press Release Analysis)

by Sakshi February 18, 2023February 18, 2023

GST

Latest GST News, Information, Notifications & Announcements

by VIPUL KHANDHAR February 14, 2023February 14, 2023

GST

Latest GST News, Information, Notifications & Announcements [Period 25/01/23 to 06/02/23]

by VIPUL KHANDHAR February 6, 2023February 6, 2023

GST

GSTN Issues Advisory on facility of ‘Initiating Drop Proceedings’ of Suspended GSTINs due to Non-filing of Returns

by TaxConcept January 17, 2023January 17, 2023

GST

GSTN Very Important Advisory on taxpayers facing issue in filing GSTR-3B

by TaxConcept January 17, 2023January 17, 2023

GST

Latest GST News, Information, Notifications & Announcements [Period 10/01/23 to 16/01/23]

by VIPUL KHANDHAR January 16, 2023January 16, 2023

GST

Latest 11 GST Changes in utilities/forms

by Sakshi January 14, 2023January 14, 2023

GST

Latest GST News, Information, Notifications & Announcements [Period 27/12/22 to 02/01/23]

by VIPUL KHANDHAR January 2, 2023January 2, 2023

GST

Attention, GST Taxpayers, whose Aggregate Annual Turnover for the F.Y. 2021-22 is more than ₹ 2 Crore!

by TaxConcept December 30, 2022December 30, 2022

The taxpayers should apply for retraction within 30 days from the date of neutralize. To this specific date, they should apply a retraction application to the tax officials. Tax officials have the authority to accept or reject the application for retraction. Are you confused? Keep reading below to learn about all the rules and regulations pertaining to the retraction of neutralize of Goods and Services Tax enrollment in the country. When is Retraction of Neutralize Acceptable? The retraction of neutralize Goods and Services Tax enrollment is applicable only when the concerned Goods and Services Tax official or officer has neutralize someone’s enrollment on their motion. Only people who meet this condition can opt to file an application of retraction to the tax officer within 30 days from the date they got the notice of neutralize of Goods and Services Tax enrollment. If an individual has voluntarily neutralize GST enrollment, are not eligible to do so. Reasons for Enrollment Neutralize by the officer Some common and well-known reasons for enrollment neutralize by tax officers are given below. The enrollment can be discontinued if the taxpayer individual: Is not running any business from the registered business place Provides a bill or invoices without a supply of services/goods, i.e., in violation of expenditures Disobeys the anti-profiteering requirements, for example, not providing the benefits of ITC to clients. With effect from January 2021: The utilisation of ITC from the credit of electronic ledger to release over 99% of tax detriment for restricted taxpayers over steps Rule 86B—with the entire taxable amount of supplies surpassing ₹50 lakhs monthly, with few exceptions; Does not apply GSTR-1 because he had not applied GSTR-3B for over two continuous months (one quarter for those individuals who choose into QRMP scheme); The input tax credit is availed in violation of the requirements of section 16 of the Goods and Services Tax Act. Procedure for Registration Neutralize by an Officer Here is the process to GST Registration Cancellation by a Goods and Services Tax official: If the concerned tax officer has enough reason to cancel someone’s Goods and Services Tax enrollment, he will issue a show cause notice to that particular individual in Form GST REG-17 The receiver of the show cause notice must respond to it in Form Goods and Services Tax REG-18 within seven working days of receiving a notice containing reasons why the enrollment has been discontinued If the concerned officer finds the response from the individual feasible, the officer will stop the proceedings and issue an order in the Goods and Services Tax REG-20 form If the enrolment is liable to be discontinued, the concerned tax officer will proceed with an order in Form Goods and Services Tax REG-19. The order will be received by show cause within 30 days from the response date. Under Section 29(3) of the CGST Act An individual shall continue to spend tax and different dues. The retraction of enrollment under this category shall not influence the detriment of the individual to pay tax and additional dues under this law. It will also not affect the release of any responsibility under this Act or the rules made thereunder for any duration preliminary to the neutralize date, whether or not such tax and different dues are inferred before or after the neutralize date. Retraction of Neutralize of Enrollment There are some rules for retraction of neutralize Goods and Services Tax enrollment explained: An enrolled individual whose enrollment is discontinued by the concerned tax officials on their action is subjected to the expenditures of Rule 10B and can submit a retraction application of neutralize Goods and Services Taxenrollment to proper tax officials in Form GST REG-21. It should be done in a given period, i.e., 30 days from when you get a notice about enrollment neutralize. Or it should be done in a duration provided by the Additional commissioner, Joint commissioner, or commissioner, depending on the case, in the practice of the power given by provision of sub-section (1) of section 30 at the general portal, either directly or via any facilitation centre informed by the commissioner. No retraction application can be filed if the enrollment has been abolished due to the failure of the enrolled person to provide returns on time. Unless such returns are provided, any penalty or interest associated with these returns has been paid along with the late fee. Given that all the dues of returns for a specific duration from the enrollment neutralize date to the retraction of the neutralize enrollment order date shall be provided by the subject person within 30 days from the date of retraction of neutralize of the Online GST Registration order. Moreover, given that where the enrollment has been discontinued effect of retrospective, the enrolled person must provide all returns associated with a duration from the date of enrollment neutralize till the date of retraction order of Goods and Services Tax neutralize enrollment within 30 days from the date of retraction order of enrollment neutralize. If the concerned officer is satisfied with the reasons provided in writing, and that there are enough good reasons for the retraction of neutralize Goods and Services Tax enrollment, he will issue an order of the same in Form GST REG-22 within 30 days from the date when he received the application. He will communicate about the same shortly with the subject applicant. If the officer does not find any good reasons or do not get satisfied with the provided reasons in the application of retraction, he can reject your provided application and issue the same in Form Goods and Services Tax REG-05 and communicate the same with the applicant. The concerned tax officer will, before ratifying the order shown in clause (B) of Sub-rule 2, provide notice in Form Goods and Services Tax REG-23, needs an applicant to display reasons for submitting the application for retraction of neutralize enrollment under Sub-rule 1 should not get rejected. The applicant must reply within seven working days from the date of issuing notice in Form GST REG-24. When the concerned officer gets clarification or information in Form Goods and Services Tax REG-24, the officer will issue an order in favour of the applicant as shown in Sub-rule 2 within 30 working days from the date he received a reply or information from the applicant. Conclusion:- In India, every business registers with Goods and Services Tax Act if the earnings every year is more than ₹20 lakhs. enrollment can be done at the official portal of GST. In the GST Act of 2017, various rules are given. If any taxpayer violates any rule, the tax office will be in a position to cancel their Goods and Services Tax enrollment. However, if you do not want to cancel your enrollment, you have to go for an application of retraction. The article gives all the procedures on how you will approach the retraction application. There are various rules and regulations regarding the retraction process. Moreover, you should apply for retraction in a given period; otherwise, you’ll not be able to do so. If you have any queries about the rules of the retraction process, Vakilsearch is always ready to assist you. They will help you with details about the retraction, its laws and the period.

GST

Clarification to deal with difference in Input Tax Credit (ITC) availed inFORM GSTR-3B as compared to that detailed in FORM GSTR-2A – reg.

by TaxConcept December 27, 2022December 27, 2022

GST

Latest GST News, Information, Notifications & Announcements [Period 20/12/21 to 26/12/21]

by VIPUL KHANDHAR December 27, 2021December 27, 2021

GST

Attention GST Taxpayers! Last due date for filing under this category

by TaxConcept December 19, 2021December 19, 2021

Tag: GST PORTAL NEWS & UPDATES

Latest GST News, Information, Notifications & Announcements [Period 17/12/24 to 23/12/24]

Latest GST News, Information, Notifications & Announcements [Period 10/09/24 to 16/09/24]

GST officers to be in action mode from August 16 to October 15, 2024, may visit your shop or office soon

GST WEEKLY UPDATE :17/2024-25 (28.07.2024)

Latest GST News, Information, Notifications & Announcements [Period 11/06/24 to 17/06/24]

GSTN Launches Enhanced Version of GST Portal with Key Enhancements and Screenshots

Latest GST News, Information, Notifications & Announcements [Period 16/01/24 to 22/01/24]

GSTN Unveils Game-Changing GST Portal Feature

Taxation Newsletter: Latest news upcoming Due Dates, Notifications / Press Information, Case Laws, International Taxation etc

Latest GST News, Information, Notifications & Announcements [Period 25/04/23 to 01/05/23]

Now GST payment can be made through 23 banks; Know complete list

GST Portal is not working smoothly & many Taxpayers are facing this issue

Latest GST News, Information, Notifications & Announcements [Period 28/03/23 to 03/04/23]

Latest GST News, Information, Notifications & Announcements [Period 21/03/23 to 27/03/23]

HSN Code Reporting in e-Invoice on IRPs Portal” in GST

Latest GST News, Information, Notifications & Announcements [Period 28/02/23 to 06/03/23]

Latest GST News, Information, Notifications & Announcements [Period 21/02/23 to 27/02/23]

Dear Valued Taxpayers, Advisory on New GST e-Invoice Portal

Very Important GST Update: Big! Changes in GSTR-3B (GST Press Release Analysis)

Latest GST News, Information, Notifications & Announcements

Latest GST News, Information, Notifications & Announcements [Period 25/01/23 to 06/02/23]

GSTN Issues Advisory on facility of ‘Initiating Drop Proceedings’ of Suspended GSTINs due to Non-filing of Returns

GSTN Very Important Advisory on taxpayers facing issue in filing GSTR-3B

Latest GST News, Information, Notifications & Announcements [Period 10/01/23 to 16/01/23]

Latest 11 GST Changes in utilities/forms

Latest GST News, Information, Notifications & Announcements [Period 27/12/22 to 02/01/23]

Attention, GST Taxpayers, whose Aggregate Annual Turnover for the F.Y. 2021-22 is more than ₹ 2 Crore!

Clarification to deal with difference in Input Tax Credit (ITC) availed inFORM GSTR-3B as compared to that detailed in FORM GSTR-2A – reg.

Latest GST News, Information, Notifications & Announcements [Period 20/12/21 to 26/12/21]

Attention GST Taxpayers! Last due date for filing under this category

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