GSTR-3B

Auto-populated GSTR-3B from October 2020 Onwards

Auto-populated GSTR-3B from October 2020 Onwards GSTN has informed on 11th November 2020 that auto-populated GSTR-3B is now available on GSTN Portal from October 2020 onwards. The full text is as follows : GSTN has earlier introduced Form GSTR-2B, a static statement with details of ITC available for a tax period, for the benefit of …

Auto-populated GSTR-3B from October 2020 Onwards Read More »

GSTN Portal Started Showing Annual Aggregate Turnover for Previous Financial Year

GSTN Portal Started Showing Annual Aggregate Turnover for Previous Financial Year Recently, GSTN has launched many new features on GSTN portal. One of its feature is that GSTN portal is now showing aggregate annual turnover for previous F.Y. after logging in to portal. The screenshot of which is attached here : The methodology to calculate …

GSTN Portal Started Showing Annual Aggregate Turnover for Previous Financial Year Read More »

Mastermind Arrested for Availing Fake Input Tax Credit (ITC) Worth Rs 1278 Crore

Mastermind Arrested for Availing Fake Input Tax Credit (ITC) Worth Rs 1278 Crore

Mastermind Arrested for Availing Fake Input Tax Credit (ITC) Worth Rs 1278 Crore Based upon specific intelligence, the officers of the Anti Evasion branch of Central Goods and Service Tax (CGST), Commissionerate, Delhi (East) have busted a major racket for the generation of huge inadmissible input tax credit (ITC) through fake billing of Rs 1,278 crore (approx). …

Mastermind Arrested for Availing Fake Input Tax Credit (ITC) Worth Rs 1278 Crore Read More »

Indirect Tax Planning and Management

Indirect Tax Planning and Management

Indirect Tax Planning and Management Planning for Indirect Taxes is an effective way to reduce Cash Payouts for taxes, avoid outflow for Penalties and Interests and to Prevent Litigations and its related expenditure. Given below are few aspects to foster a robust Indirect Tax Planning and thereby benefiting the organization in terms of cost-saving and …

Indirect Tax Planning and Management Read More »

GST COLLECTION

Essential Point of Today’s Extensions 24.10.2020

Essential Point of Today’s Extensions 24.10.2020 GSTR 9, 9C date for FY 2018-19 extended to 31st December, 2020. ITR Filing date for entities subject to tax audit for AY 20-21 extended to 31st January, 2021 ITR Filing Due date of International Transactions Taxpayers for AY 20-21 extended to 31st January, 2021. ITR Filing Due Date …

Essential Point of Today’s Extensions 24.10.2020 Read More »

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

Withdrawal of EVC facility extended to companies for filing GSTR1 and GSTR3B

The facility to file GSTR 3B and GSTR-1 with the EVC in lieu of DSC extended to the registered person, who are also registered under the Companies Act, 2013, shall be withdrawn w.e.f. 1st Nov. 2020. However, facility to file NIL returns through OTP verification, shall be continued for all types of registered persons in …

Withdrawal of EVC facility extended to companies for filing GSTR1 and GSTR3B Read More »

GSTR-3B Due Dates for the Month October 2020 to March 2021

GSTR-3B Due Dates for the Month October 2020 to March 2021

GSTR-3B Due Dates for the Month October 2020 to March 2021 Vide Notification No. 76/2020- Central Tax (Dated 15.10.2020), the CBIC has prescribed due dates for GSTR-3B return from October 2020 to March 2021. The said due dates are as per the Notification No. 29/2020- Central Tax (Dated 23.03.2020) (i.e. in staggered manner) which are …

GSTR-3B Due Dates for the Month October 2020 to March 2021 Read More »

Tax Concept'

Tax Concept’s Letter to Hon’ble Prime Minister for Serious Issues Regarding GST

Tax Concept’s Letter to Hon’ble Prime Minister for Serious Issues Regarding GST Date : 11.10.2020 Ref.: TC/20-21/1 To, Hon’ble Prime Minister, Government of India, New Delhi Subject : To attract your kind attention on Serious Issues regarding GST Hon’ble Sir, GST was introduced in India to simplify the Indirect Tax Structure and to promote Ease …

Tax Concept’s Letter to Hon’ble Prime Minister for Serious Issues Regarding GST Read More »

Outcome of 42nd GST Council Meeting Held on 05.10.2020

Outcome of 42nd GST Council Meeting Held on 05.10.2020

Outcome of 42nd GST Council Meeting Held on 05.10.2020 The GST Council has made the following recommendations:  (1.) Levy of Compensation Cess to be extended beyond the transition period of five years i.e. beyond June, 2022, for such period as may be required to meet the revenue gap. Further details to be worked out. (2.) …

Outcome of 42nd GST Council Meeting Held on 05.10.2020 Read More »

Is Blocking of ITC on Non-Filing of GSTR-3B by Supplier Correct??

Is Blocking of ITC on Non-Filing of GSTR-3B by Supplier Correct??

Is Blocking of ITC on Non-Filing of GSTR-3B by Supplier Correct?? The government has inserted Rule 86A in the CGST Rules, 2017 vide Notification No. 75/2019- Central Tax dated 26.12.2019 This rule lays down the conditions for availment of Input Tax Credit (ITC) by a taxpayer. One of the condition prescribed in this rule states …

Is Blocking of ITC on Non-Filing of GSTR-3B by Supplier Correct?? Read More »

HC Accepts Writ Petition on Blocking of ITC due to Non Filing of GSTR-3B

HC ACCEPTS WRIT PETITION ON BLOCKING OF ITC DUE TO NON FILING OF GSTR-3B

HC Accepts Writ Petition on Blocking of ITC due to Non Filing of GSTR-3B Petitioner: M/s Kalpsutra Gujarat Respondent: The Union of India Issue Involved: Blocking of ITC due to non filing of GSTR-3B Case Description: By this writ application under Article 226 of the Constitution of India, the writ applicant, a partnership firm through …

HC ACCEPTS WRIT PETITION ON BLOCKING OF ITC DUE TO NON FILING OF GSTR-3B Read More »