GSTAUDIT

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GSTR 9C Extended

The due date for furnishing annual return in FORM GSTR-9 & self-certified reconciliation statement in FORM GSTR-9C for the financial year 2020-21 has been extended from 31.12.2021 to 28.02.2022. Notification No.40/2021-Central Tax dated 29.12.2021 to this effect has been issued. Now, the due date is perfectly aligned w.r.t the Tax audit due date. Seems like …

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

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

Latest GST News, Information, Notifications & Announcements 1. CHANGES IN HSN CODES AS PER HS-2022 w.e.f 01.01.2022: The WCO has announced the New (Seventh) edition of HSN – HS-2022 w.e.f 01.01.2022. India being party to HS Convention will also align its First Schedule of Customs Tariff Act with HS-2022. The necessary changes required were already …

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

no outages in the Aadhaar – PAN/EPFO linking facility. All its services are stable and functioning fine.

CBDT and CBIC has Extended Due Dates for Various Returns/ Reports

CBDT and CBIC has Extended Due Dates for Various Returns/ Reports Due Dates Extended by the CBDT (1.) The due date for furnishing of Income Tax Returns for the taxpayers (including their partners) who are required to get their accounts audited [for whom the due date (i.e. before the extension by the said notification) as …

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11 E-BOOKS ON GST OFFERED BY THE ICAI FOR FREE

11 E-BOOKS ON GST OFFERED BY THE ICAI FOR FREE

11 E-Books on GST offered by the ICAI for Free For enhancing knowledge of professionals and to keep them update, ICAI releases 11 E-Books on GST. ICAI President CA Sh. Atul Kumar Gupta’s some words on these books : The GST alongwith its challenges has brought in various benefits also like creation of National market …

11 E-BOOKS ON GST OFFERED BY THE ICAI FOR FREE Read More »

NOTIFICATIONS ISSUED BY THE CBIC

NOTIFICATIONS ISSUED BY THE CBIC ON 5th MAY, 2020

Notifications issued by the CBIC on 5th May, 2020 Notification No. 38/2020- Central Tax, Dated 05-05-2020 This Notification seeks to make fifth amendment (2020) to CGST Rules In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of …

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Updated CGST Rules by CBIC

UPDATED CGST RULES BY CBIC (UPDATED UP TO 3rd APRIL, 2020)

Updated CGST Rules by CBIC : After including all notifications till date, CBIC issues new updated version of CGST Rules, 2017 for the ease of learning for taxpayers and professionals. Note : This updated version of the CGST Rules is amended upto 3rd April, 2020. This has been prepared for convenience and easy reference of …

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RELAXATION IN TAXATION, MCA DUE TO COVID-19

INCOME TAX (1.) Extend last date for income tax returns for (FY 18-19) from 31st March, 2020 to 30th June, 2020. (2.) Aadhaar-PAN linking date to be extended from 31st March, 2020 to 30th June, 2020. (3.) Vivad se Vishwas scheme – no additional 10% amount, if payment made by June 30, 2020 (4.) Due …

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39th GST COUNCIL MEETING UPDATES ACCORDING TO SOURCES

> Interest will be charged on NET CASH LIABILITY. Amendment to be made retrospectively w.e.f. 01st July, 2017. > Late fees for GSTR-9 has been waived for 2 years (F.Y. 2017-18 and F.Y. 2018-19) for taxpayers with annual turnover less than Rs. 2 Crore. > Where registrations have been cancelled till 14.03.2020, application for revocation …

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COMPLIANCE REQUIREMENTS FOR MARCH, 2020

About Article : This article contains various Compliance requirements under Statutory Laws. Compliance means “adhering to rules and regulations.” If you think compliance is expensive, try non‐ compliance” COMPLIANCE REQUIREMENT UNDER THE INCOME TAX ACT, 1961 Income Tax Act, 1961     02.03.2020 Due date for furnishing of challan-cum-statement in respect of tax deducted under …

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Sahin Bagh

JUST IN : SUPREME COURT REFUSES TO INTERFERE IN ORDER PASSED BY RAJASTHAN HC FOR GSTR-9 AND 9C

In the matter of UOI vs Tax Bar Association, Hon’ble Supreme Court through its bench comprising of Hon’ble Justice R F Nariman & Hon’ble Justice Ravinder S Bhatt, at the outset, refused to interfere in order as passed by Hon’ble Rajasthan High Court and also clarified that there would be no penal consequences for delayed …

JUST IN : SUPREME COURT REFUSES TO INTERFERE IN ORDER PASSED BY RAJASTHAN HC FOR GSTR-9 AND 9C Read More »

PRACTITIONER’S GUIDE TO AUDIT OF SMALL ENTITIES (UPDATED 2020) : BY ICAI

PREFACE As we all are aware that smaller entities make a substantial contribution to our Indian economy, and quantitatively the majority of audits are also audits of smaller entities. In India, all entities particularly those in the corporate sector are required to get their accounts audited and even in case of non-corporate sector also, audit …

PRACTITIONER’S GUIDE TO AUDIT OF SMALL ENTITIES (UPDATED 2020) : BY ICAI Read More »

RAJASTHAN HIGH COURT

TAXPAYERS OF RAJASTHAN CAN FILE GSTR-9 AND 9C (F.Y. 2017-18) WITHOUT LATE FEES UP TO 12th FEB, 2020 – RAJASTHAN HC

In PIL No. 1805/2020, Adv. Sanjay Jhanwar, Adv. Rahul Lakhwani and Adv. Prateek Gattani appeared for the Petitioner (Tax Bar Association, Jodhpur) before the High Court of Rajasthan regarding technical glitches being faced by the taxpayers in filing of GSTR-9/9C on the GSTN portal.  The counsels also informed the court regarding new ways of extension of …

TAXPAYERS OF RAJASTHAN CAN FILE GSTR-9 AND 9C (F.Y. 2017-18) WITHOUT LATE FEES UP TO 12th FEB, 2020 – RAJASTHAN HC Read More »

CBIC FURTHER EXTENDS DUE DATE FOR GSTR-9 AND 9C (F.Y. 2017-18) IN A STAGGERED MANNER

Notification No. 06/2020 – Central Tax, Dated 3rd February, 2020 In exercise of the powers conferred by sub-section (1) of section 44 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), read with rule 80 of the Central Goods and Services Tax …

CBIC FURTHER EXTENDS DUE DATE FOR GSTR-9 AND 9C (F.Y. 2017-18) IN A STAGGERED MANNER Read More »

CORPORATE COMPLIANCE CALENDAR FEBRUARY 2022

CORPORATE COMPLIANCE CALENDAR FOR THE MONTH OF FEBRUARY, 2020

ABOUT ARTICLE : This article contains various Compliance requirements under Statutory Laws. Compliance means “adhering to rules and regulations.” If you think compliance is expensive, try non‐ compliance” COMPLIANCE REQUIREMENT UNDER : Income Tax Act, 1961 Goods & Services Tax Act, 2017 (GST) Other Statutory Laws Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications …

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CHANGES IN CGST ACT AFTER UNION BUDGET, 2020

Clause No. Of Finance Bill 2020 Section of GST Act 2017   Present Provision   Proposed Provision   Remarks                 116                 2(114) ―”Union territory” means the territory of— the Andaman and Nicobar               Islands;Lakshadweep;Dadra and Nagar Haveli [and Daman and Diu]; …

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CBIC EXTENDS DUE DATE FOR GSTR-9 AND 9C (F.Y. 2017-18) IN A STAGGERED MANNER

Considering the difficulties being faced by taxpayers in filing GSTR-9 and GSTR-9C for FY 2017-18 it has been decided to extend the due dates in a staggered manner for different groups of States to 3rd, 5th and 7th February 2020 as under. Group 1: Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Puducherry, Telangana, Andhra Pradesh, Other …

CBIC EXTENDS DUE DATE FOR GSTR-9 AND 9C (F.Y. 2017-18) IN A STAGGERED MANNER Read More »

HIGHLIGHTS OF NATIONAL TAX CONFERENCE HELD ON 4th AND 5th JAN, 2020 AT JODHPUR

At Sun City, Jodhpur, 2 days National Tax Conference event (4th and 5th Jan, 2020) has held jointly by the Rajasthan Tax Consultants’ Association, Jaipur (RTCA) and Tax Bar Association, Jodhpur. The evant has held at Dr. S.N. Medical College Auditorium, Residency Road, Jodhpur. Hon’ble Chief Minister of Rajasthan Sh. Ashok Gehlot was the Chief …

HIGHLIGHTS OF NATIONAL TAX CONFERENCE HELD ON 4th AND 5th JAN, 2020 AT JODHPUR Read More »

CORPORATE COMPLIANCE CALENDAR FOR THE MONTH OF JANUARY, 2020

ABOUT THIS ARTICLE : This article contains various Compliance requirements under Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance Requirement Under : Income Tax Act, 1961 Goods & Services Tax Act, 2017 (GST) Other Statutory Laws Foreign Exchange Management Act, 1999 (FEMA) SEBI (Listing Obligations And Disclosure Requirements) (LODR) Regulations, 2015 SEBI Takeover …

CORPORATE COMPLIANCE CALENDAR FOR THE MONTH OF JANUARY, 2020 Read More »

UPDATED TOOL FOR GSTR-9 AND 9C WILL BE AVAILABLE BY 17th DEC : GSTN

GSTN has amended its alert message for GSTR-9 and 9C which was originally issued on 28.11.2019, is as under : “Government has made some changes in the forms of Annual Return (GSTR-9) and the Reconciliation Statement (GSTR-9C) vide Notification No. 56/2019 dated 14.11.2019. These changes do not impact the current tools required for preparation and filing of …

UPDATED TOOL FOR GSTR-9 AND 9C WILL BE AVAILABLE BY 17th DEC : GSTN Read More »

CLARIFICATION REGARDING OPTIONAL FILING OF GSTR-9

Circular No. 124/43/2019 – GST, Dated – 18.11.2019 (1.) Attention is invited to Notification No. 47/2019-Central Tax dated 9th October, 2019 providing for special procedure for those registered persons whose aggregate turnover in a financial year does not exceed two crore rupees and who have not furnished the annual return. (2.) Vide the said notification …

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AS THE EXTENDED DUE DATE FOR ANNUAL RETURN (F.Y. 2017-18) IS 31st DEC., YOU HAVE TO KNOW ALL ABOUT THIS

As you all might be aware about the notification issued by the CBIC regarding relaxation in filing of annual GST returns. So many of you might be having some questions in their mind. So I have tried answering some of these questions by way of FAQs. Q. What is GSTR-9 ? Ans. GSTR-9 is an …

AS THE EXTENDED DUE DATE FOR ANNUAL RETURN (F.Y. 2017-18) IS 31st DEC., YOU HAVE TO KNOW ALL ABOUT THIS Read More »

MAJOR CHANGES IN GSTR-9 AND 9C FOR EASE OF COMPLIANCE

Major Changes in GSTR-9 Suitable amendments for F.Y. 2018-19 wherever there is reference for F.Y. 2017-18 For F.Y. 2018-19, GSTR-2A as on 01.11.2019 will be auto populated. Other simplifications/relaxations for F.Y. 2017-18 & 2018-19 Table Particulars Relaxation 4B to 4E outward taxable supply Option to fill net of credit/debit notes & amendments 5D, 5E & …

MAJOR CHANGES IN GSTR-9 AND 9C FOR EASE OF COMPLIANCE Read More »

extened due date of income tax and gst

GSTR-9 & 9C MORE SIMPLIFIED AND DUE DATE EXTENDED

The Government has decided today (14.11.2019) to extend the due dates of filing of Form GSTR-9 (Annual Return) and Form GSTR-9C (Reconciliation Statement) for Financial Year 2017-18 to 31st December 2019 and for Financial Year 2018-19 to 31st March 2020. The Government has also decided to simplify these forms by making various fields of these …

GSTR-9 & 9C MORE SIMPLIFIED AND DUE DATE EXTENDED Read More »

“ANOTHER SIDE OF COIN” ON EXTENSION OF DUE DATE FOR ANNUAL RETURN

1st IMPLICATION : DEMAND AND RECOVERY (SECTION 73 AND 74 OF CGST ACT) : Proper officer can issue the order u/s 73 and 74 within 3/5 years of due date of annual return respectively. As the due date of annual return is extended to 30th Nov, 2019 for F.Y. 2017-18, so the department gets the …

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HOW TO RESOLVE TECHNICAL GLITCHES WHILE UPLOADING GSTR-9C

Arjuna (Fictional Character) : Krishna, GST department has come out with statistics that only 1% of GST Audit Report for the financial year 2017-18 has been filed. As the due date for filing such Audit report is approaching which is 31st August, 2019. Even Government is worried for such statistics of uploading. So, what are …

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OUR REPRESENTATION TO FINANCE MINISTER AND GST COUNCIL FOR EXTENSION OF DUE DATE FOR GSTR-9 AND 9C

On 18th Aug, 2019, we have represented Finance Minister and GST Council for extension of due date for GSTR-9 and 9C. We have mentioned relevant problems and issues which have necessitated the extension. The words of Representation are as under : Ref : TC/19-20/1 Date : 18th August, 2019 To, Smt. Nirmala Sitharaman Hon’ble Union …

OUR REPRESENTATION TO FINANCE MINISTER AND GST COUNCIL FOR EXTENSION OF DUE DATE FOR GSTR-9 AND 9C Read More »