GST

GST WEEKLY UPDATE : 35/2022-23 (27.11.2022)

Latest GST News, Information, Notifications & Announcements [Period 22/11/22 to 28/11/22]

1.    Mandatory furnishing of correct and proper information of ineligible Input Tax Credit and reversal thereof in Form GSTR-3B As Per CBIC circular no. 170/02/2022:- GST has highlighted incorrect reporting of ineligible Input Tax Credit by Taxpayers. Maharashtra & Kerala state has issued instruction, Detail instruction issued by the Kerala state as under: 2.    DGFT: …

Latest GST News, Information, Notifications & Announcements [Period 22/11/22 to 28/11/22] Read More »

GSTN is Organizing Webinar on ‘Filing of an Appeal by Taxpayers on GST Portal’

Taxpayers Alert: Webinar on ‘Filing of an Appeal by Taxpayers on GST Portal’

GSTN is Organizing Webinar on ‘Filing of an Appeal by Taxpayers on GST Portal’- For creating awareness amongst all the stakeholders, GSTN is holding webinars on ‘Filing of an Appeal by Taxpayers on GST Portal’, as per the details given below: Webinar Topic Webinar on Filing of an Appeal by Taxpayers on GST Portal Language …

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GST DOCTOR We created a bunch of tools to help GST officers quickly process GST returns downloaded from AIO. The three basic GST returns are GSTR 1, GSTR 3b and GSTR 2A/B a

“GST Doctor” Web Application of ITC Matching Module Developed by Sh. Milan Tiwari, Inspector of CGST Zone

Writeup on “GST Doctor” Web-Application In order to ensure ease of collation of data and verification of the monthly GST returns, a web-application VIZ: “GST Doctor ” was developed by Sh. Milan Tiwari, Inspector of Chennai CGST Zone. 2. The main areas of verification of GST returns by field officers are: reconciliation of outward supply …

“GST Doctor” Web Application of ITC Matching Module Developed by Sh. Milan Tiwari, Inspector of CGST Zone Read More »

Latest GST News, Information, Notifications & Announcements [Period 15/11/22 to 21/11/22]

“Don’t wait for the last-minute rush to file your TRAN-1/2 Forms. Please File today. The last date to file TRAN forms is 30th November 2022. No Form shall be accepted after 30th November 2022,” GST Portal said in a statement. 2.    ITC in annual return has been taken in to account uptill 30.11.2022: 3.    GST …

Latest GST News, Information, Notifications & Announcements [Period 15/11/22 to 21/11/22] Read More »

GST-aba86171

Latest GST News, Information, Notifications & Announcements [Period 08/10/22 to 14/10/22]

Yes, if you are eligible for e-Invoicing, all the invoices of B2B and Exports need to be registered. No, there is no time limit for delivery of goods or generation of e-waybill for the e-Invoice. Yes, if you are eligible for e-Invoicing, all the invoices including RCM invoices issued by the Supplier need to be …

Latest GST News, Information, Notifications & Announcements [Period 08/10/22 to 14/10/22] Read More »

Taxpayers are frequently receiving notices from the tax department for variance in the amount of ITC availment in GSTR 3B as compared to their respective GSTR 2A/2B

One such change has been recently notified by the government vide Notification No. 14/2022 – Central Tax dated July 5, 2022, in Table 4 of GSTR 3B, meant for Input Tax Credit (ITC) related information. The said changes have been made available on the GST portal since September 1, 2022. In brief, the government has majorly changed the following …

Taxpayers are frequently receiving notices from the tax department for variance in the amount of ITC availment in GSTR 3B as compared to their respective GSTR 2A/2B Read More »

Latest GST News, Information, Notifications & Announcements [Period 25/10/22 to 31/10/22]

GST Portal Issues Advisory on TRAN-1 for Taxpayers from Daman and Diu & Ladakh: The portal clarified that, “Due to reorganization of the state of Jammu & Kashmir and merger of the Union territories of Dadra and Nagar Haveli and Daman and Diu, the taxpayers of Ladakh and earlier ‘Daman and Diu’ region have been …

Latest GST News, Information, Notifications & Announcements [Period 25/10/22 to 31/10/22] Read More »

TAX COMPLIANCE Calendar – NOVEMBER, 2022

Tax Compliance Tracker – November, 2022

1. Compliance requirement under Income Tax act, 1961   Sl.   Compliance Particulars   Due Dates   1 ​Due date for deposit of Tax deducted/collected for the month of October, 2021. However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day …

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Implementation of mandatory mentioning of HSN codes in GSTR-1

Big Alert! From November 1, Taxpayers mention 4-digit HSN codes in GSTR-1

Taxpayers having Turnover up to Rs 5 crore shall mention 4-digit HSN codes in GSTR-1 from 1st November: GST Portal Vide Notification No. 78/2020 – Central Tax dated 15th October, 2020, it is mandatory for the taxpayers to report minimum 4 digit or 6 digit of HSN Code in table-12 of GSTR-I on the basis …

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Advisory on Filing TRAN forms for Taxpayers

GST Portal Update: Advisory on Filing TRAN forms for Taxpayers

Advisory on Filing TRAN forms for Taxpayers from Daman and Diu & Ladakh- Due to reorganization of the state of Jammu & Kashmir and merger of the Union territories of Dadra and Nagar Haveli and Daman and Diu, the taxpayers of Ladakh and earlier ‘Daman and Diu’ region have been allotted new GSTINs. There is …

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GST NEWS AND UPDATES

Latest GST News, Information, Notifications & Announcements [Period 11/10/22 to 17/10/22]

GST WEEKLY UPDATE : 29/2022-23 (16.10.2022) GePP Offline – Microsoft Excel based e-Invoice generating software: The MS Excel based tool can be downloaded from the portal to a PC or laptop with the latest MS Office version installed. MS Office 10 or more required for running the tool smoothly. The tool first runs only by …

Latest GST News, Information, Notifications & Announcements [Period 11/10/22 to 17/10/22] Read More »

GST NEWS AND UPDATES

Latest GST News, Information, Notifications & Announcements [Period 03/10/22 to 09/10/22]

GST WEEKLY UPDATE : 28/2022-23 (09.10.2022): Single sign-on (SSO) functionality has been enabled for e-Invoice and e-Waybill: The Single sign-on (“SSO”) functionality has been enabled for e-Invoice and e-Waybill. The SSO is a facility by which the user can log in to the e-Way bill system using his/her credentials and click on the e-Invoice link …

Latest GST News, Information, Notifications & Announcements [Period 03/10/22 to 09/10/22] Read More »

Latest GST News, Information, Notifications & Announcements [Period 26/09/22 to 02/10/22]

GST on Export Freight: The GST exemption on export Freight was valid until 30th September 2018, and was further extended till 30th September 2022 but with no further extension effective from 1st October 2022, the following transactions would be taxable under GST – – Ocean export freight billed to customers in India to be charged …

Latest GST News, Information, Notifications & Announcements [Period 26/09/22 to 02/10/22] Read More »

GST changes to take effect from 1 October

The central government has set 1 October as the date from which key legislative changes related to Goods and Services Tax (GST), introduced in the Finance Act earlier this year, will take effect, showed an official order. The changes relate to giving extra time for filing claims regarding input tax credit and measures meant for …

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CBIC develops system for online monitoring of GST audits

Central Board of Indirect Taxes and Customs (CBIC) has developed a system for online monitoring of GST audits initiated by tax officials across the country for effective oversight of the audit process. GST audits commenced earlier this year and are being seen by the tax authority as an effective tool for ensuring the quality of …

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Latest GST News, Information, Notifications & Announcements [Period 12/09/22 to 18/09/22]

Updated version of e-Invoice QR Code Verify Mobile App. is available: A Quick Response (QR) code needs to be mandatorily displayed on all B2B invoices issued by businesses for whom e-Invoicing is applicable. This QR code is a two-dimensional barcode that can be read by a well-configured QR code reader. The Government has recently released …

Latest GST News, Information, Notifications & Announcements [Period 12/09/22 to 18/09/22] Read More »

CORPORATE COMPLIANCE TRACKER

Compliance requirements for the Month of September, 2022

This article contains various Compliance requirements for the Month of September, 2022 under various Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure. If you think compliance is expensive, try non‐ compliance” Compliance …

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GST NEWS AND UPDATES

Attention GST Taxpayers! CBIC issues guidelines for availing Transitional Credit

CBIC issues guidelines for availing Transitional Credit through TRAN-1 and TRAN-2. Facility for Filing of Form GST TRAN-1/TRAN-2 or Revising the earlier filed Form TRAN-1/2 will be available on common portal during the period from 01.10.22 to 30.11.22. Subject: Guidelines for filing/revising TRAN-1/TRAN-2 in terms of order dated 22.07.2022 & 02.09.2022 of Hon’ble Supreme Court …

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New functionalities deployed on the GST Portal for taxpayers

Various new functionalities are implemented on the GST Portal, from time to time, for GST stakeholders. These functionalities pertain to different modules such as Registration, Returns, Advance Ruling, Payment, Refund and other miscellaneous topics. Various webinars are also conducted as well informational videos prepared on these functionalities and posted on GSTNs dedicated YouTube channel for …

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E-way Bill for Gold: Notification issued by their respective states, Taxpayers

As per the Government recommendation , E – Way Bill generation has been provisioned for movement of Gold ( HSN Chapter 71 ) for all Intrastate and Interstate transactions . The taxpayers of the state may generate the E – Waybill for Gold as per the notification issued by their respective states . The e …

E-way Bill for Gold: Notification issued by their respective states, Taxpayers Read More »

Changes in Table 4 of GSTR 3B Reporting of ITC availment, reversal and Ineligible ITC

1. The Government vide Notification No. 14/2022 – Central Tax dated 05th July, 2022 has notified few changes in Table 4 of Form GSTR-3B for enabling taxpayers to correctly report information regarding ITC availed, ITC reversal and ineligible ITC in Table 4 of GSTR-3B. The detailed Notification can be viewed by clicking here. 2. The …

Changes in Table 4 of GSTR 3B Reporting of ITC availment, reversal and Ineligible ITC Read More »

Implementation of mandatory mentioning of HSN codes in GSTR-1

Latest GST News, Information, Notifications & Announcements [Period 05/09/22 to 11/09/22]

Trans-1 /Trans-2 will be made available by GSTN during the period from October 01, 2022 to November 30, 2022: Guidelines for the applicant for filing TRAN-1/TRAN-2 or revising earlier filed TRAN-1/TRAN-2: The applicant may file declaration in FORM GST TRAN-1/TRAN-2 or revise earlier filed TRAN-1/TRAN-2 duly signed or verified through electronic verification code on the …

Latest GST News, Information, Notifications & Announcements [Period 05/09/22 to 11/09/22] Read More »

New GST Rates: 10 Household Items That Will Cost More From July 18

Latest GST News, Information, Notifications & Announcements [Period 22/08/22 to 28/08/22]

GST WEEKLY UPDATE : 23/2022-23 (04.09.2022) Changes in Table 4 of Form GSTR-3B for enabling taxpayers to correctly report information regarding ITC availed, ITC reversal and ineligible ITC: The Notified changes of Table 4 of GSTR-3B have been incorporated in GSTR-3B and are available on GST Portal w.e.f September 01, 2022. The taxpayers are advised …

Latest GST News, Information, Notifications & Announcements [Period 22/08/22 to 28/08/22] Read More »

Changes in Table 4 of GSTR 3B – Reporting of ITC availment, reversal and Ineligible ITC

The Government vide Notification No. 14/2022 – Central Tax dated 05th July, 2022 has notified few changes in Table 4 of Form GSTR-3B for enabling taxpayers to correctly report information regarding ITC availed, ITC reversal and ineligible ITC in Table 4 of GSTR-3B. The Notified changes of Table 4 of GSTR-3B have been incorporated in …

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Tax Compliance Tracker – September, 2022

Tax Compliance Tracker – September, 2022 Compliance requirement under Income Tax act, 1961   Sl.   Compliance Particulars   Due Dates   1 Due date of depositing TDS/TCS liabilities under Income Tax Act, 1961 for the previous month. 07.09.2022 2. Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB, and …

Tax Compliance Tracker – September, 2022 Read More »

Latest GST News, Information, Notifications & Announcements [Period 22/08/22 to 28/08/22]

GST WEEKLY UPDATE : 22/2022-23 (28.08.2022) GSTN enabled GSTR-9 & GSTR-9C for F.Y. 2021-22 on GST Portal: The Goods and Services Tax Network (“GSTN”) has enabled GSTR-9 & 9C for Financial Year (“FY”) 2021-22 for filing on the GST Portal. GSTR 9 – Annual Return | GSTR 9C Reconciliation Statement The due date for filing …

Latest GST News, Information, Notifications & Announcements [Period 22/08/22 to 28/08/22] Read More »

GST WEEKLY UPDATE

Latest GST News, Information, Notifications & Announcements [Period 15/08/22 to 21/08/22]

GSTN issued advisory on Upcoming Changes in Table 4 of Form GSTR-3B: The taxpayers to report information on ITC correctly availed, reversal thereof and declaring ineligible ITC in Table 4 of GSTR-3B: The notified changes in Table 4 of GSTR-3B are being implemented on the GST Portal and will be available shortly. Until these changes …

Latest GST News, Information, Notifications & Announcements [Period 15/08/22 to 21/08/22] Read More »

Weekly Taxation Newsletter Period 04/08/2022 to 11/08/2022

Dear Readers, We are delighted to share our 86th E-Newsletter “Weekly Taxation Newsletter” dated 12th August, 2022 from 03rd August, 2022 to 11th August, 2022 with you. This E – Newsletter is a weekly reference / compilation of interesting and latest news related to tax including upcoming Timelines / Due Dates, Notifications / Press Information, …

Weekly Taxation Newsletter Period 04/08/2022 to 11/08/2022 Read More »

Latest GST News, Information, Notifications & Announcements [Period 08/08/22 to 14/08/22]

GST Applicability has been clarified by the Finance Minister: The Union Finance Nirmala Sitharaman on August 2, 2022 in Rajya Sabha said that, There is no GST on cash withdrawals from banks; nevertheless, the GST tax will apply only when the bank purchases cheque books from the printer. “5+5=10 transactions per month are totally free …

Latest GST News, Information, Notifications & Announcements [Period 08/08/22 to 14/08/22] Read More »

GST ON RENT

GST Rule Change: : If you are a registered tenant then now you will have to pay 18 percent tax on the rent of the house

Important changes have been made in the rules of GST by the Ministry of Finance, which will be effective from July 18. Under this, 18% tax has also been levied on rent, i.e. tenants living on rent of residential property will have to pay 18% GST along with the rent. However, this rule will be …

GST Rule Change: : If you are a registered tenant then now you will have to pay 18 percent tax on the rent of the house Read More »