GSTR

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Taxpayer is Eligible To Claim ITC As Per Invoice in Absence Of System Based Matching: Gujarat High Court

In the case of M/S New Nalbandh Traders vs State Of Gujarat, the Gujarat High Court has held that: On the perusal of the aforesaid provisions, it can be said that there is a specific mechanism for reversing the credit in the case of a discrepancy in the ITC availed by the recipient, against the …

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GST Portal Update: Availing ITC As Per Law And GSTR-2B

Official GST Portal has posted an update that: For some of the taxpayers, there was an issue in relation to duplicate entries in GSTR2B which has since been fixed and correct GSTR2B has been generated. In this regard, taxpayers while filing GSTR3B are advised to check and ensure that the value of ITC they are …

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GST Return Requirement For Input Service Distributor (ISD)

An ISD will have to file monthly returns in GSTR-6 within thirteen days after the end of the month and will have to furnish information of all ISD invoices issued. The details in the returns will be made available to the respective recipients in their GSTR 2A. The recipients may include these in its GSTR-2 …

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GST Return Requirement For Non-Resident Taxable Person

The non-resident taxable person shall furnish a return in FORM GSTR-5 electronically through the Common Portal, either directly or through a Facilitation Centre notified by the Commissioner, including therein the details of outward supplies and inward supplies and shall pay the tax, interest, penalty, fees or any other amount payable under the Act or these …

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Final Return Under GST (GSTR-10)

When the registration of a registered person other than an Input Service Distributor or a non-resident taxable person or a person paying tax under the composition scheme or TDS/ TCS; has been cancelled, the person has to file a final return within three months of the date of cancellation or date of order of cancellation, …

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GST: Annual Aggregate Turnover (AATO) Functionality is live

The Goods and Service Tax Network (GSTN) vide a notification dated 02nd May, 2022 has enabled the functionality of Annual Aggregate Turnover (AATO) for the FY 2021-22 on taxpayers’ dashboards. Turnover, in common parlance, is the total volume of a business. The term ‘aggregate turnover’ has been defined in GST law as under: “aggregate turnover” …

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Weekly Taxation Newsletter from 15th May, 2022 to 22nd May, 2022 E-Newsletter latest Due Dates, Notifications, Case Laws

We are delighted to share our 75th E-Newsletter “Weekly Taxation Newsletter” dated 23rd May, 2022 from 15th May, 2022 to 22nd May, 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, Case Laws, …

Weekly Taxation Newsletter from 15th May, 2022 to 22nd May, 2022 E-Newsletter latest Due Dates, Notifications, Case Laws Read More »

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Big Breaking: Government Plans To Amend GSTR-3B To Stop Bogus ITC Claims

The monthly tax payment form GSTR-3B is all set to be amended to check fraudulent Input Tax Credit (ITC) claims and speedy disposal of genuine cases. An official said that this could be considered in the meeting of the GST Council to be held next month. The revised form will provide clarity to the taxpayer …

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Big Update On GSTR-2B For April 2022

Official account of GSTN Portal, GST Tech has tweeted that: GSTR2B is now available for April 2022 It may be noted that only if the taxpayer, the Input Tax Credit (ITC) gets auto populated in GSTR3B from GSTR2B has not saved any data in GSTR3B for that tax period. 2.) The auto population of ITC …

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Breaking: Government Proposes To Extend April 2022 GSTR-3B Due Date

CBIC has tweeted on 17th May 2022 that: A technical glitch has been reported by Infosys in generation of April 2022 GSTR-2B & auto-population of GSTR-3B on portal. Infosys has been directed by Govt for early resolution. Technical team is working to provide GSTR-2B & correct auto-populated GSTR-3B at the earliest. (1/2) Considering the difficulties …

Breaking: Government Proposes To Extend April 2022 GSTR-3B Due Date Read More »

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Very Important Point To Keep in Mind While Availing Self- Assessed ITC From GSTR-2A

GSTN has posted an advisory on 15th May 2022 that GSTR-2B for April 2022 is not showing the invoices related to April 2022. Technical team is working on it. But as a temporary measure, taxpayers can avail ITC from GSTR-2A as per self-assessment basis. Points to Keep in Mind While Availing ITC From GSTR-2A As …

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Professionals Are Questioning The Authority Of GSTN After Issuance Of Advisory For GSTR-2B

GSTN has issued advisory on GSTR-2B for the month of April 2022 on 15th May 2022. To read the advisory, Please Click Here In this advisory, GSTN has advised taxpayers to avail ITC as per GSTR-2A on self assessment basis till the technical team is resolving the issue of missing entries in GSTR-2B. After this …

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Breaking: GSTN Issues Advisory on GSTR-2B For April 2022

1.) It has been noticed that in a few cases, certain records are not reflected in the GSTR-2B statement for the period of April 2022. However, such records are visible in GSTR-2A of such recipients. 2.) The technical team is working to resolve this issue for the impacted taxpayers and generate fresh GSTR-2B at the …

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Read What Professionals Are Saying About Non-Availability Of GSTR-2B

GSTR-2B for April 2022 is showing data till the month of March 2022. i.e. Data for April 2022 are missing in April 2022 GSTR-2B. This is due to technical glitch in the GST Portal. So, read what professionals are saying about non-availability of GSTR-2B: CA Bimal Jain has tweeted that “When Taxpayers liable to pay …

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government contractor was fined 77,37,499 after commercial t .. Read more at: http://timesofindia.indiatimes.com/articleshow/91059238.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

GST mismatch: Govt contractor was fined 77,37,499 after commercial taxes department noticed discrepancies in the GST returns..

A government contractor was fined 77,37,499 after commercial taxes department noticed discrepancies in the GST returns filed by the trader and the government. The government contractor under Theni 2 division of Madurai zone of commercial taxes department had filed his GSTR-3B form but the sales figures in his form did not match with the sales figures on GSTR-07 form …

GST mismatch: Govt contractor was fined 77,37,499 after commercial taxes department noticed discrepancies in the GST returns.. Read More »

TC VIP Users Premium Weekly Taxation Newsletter

Weekly Taxation Newsletter Period: 30.03.2022 to 10.04.2022 Weekly Taxation Newsletter Let’s Build Something Together Upcoming Due Dates WeeklyDepartmental updates Important Notifications & Circulars Important Case-laws International Taxation Corner (ITC) Knowledge bucket for NRI Brain Bites- Do you Know?

Rajasthan Government’s Most Important Circular On GST Return Filing

Rajasthan Government has issued a circular on 5th April 2022, in which the government said that: It has come to the notice that in some instances, the taxpayers have not disclosed ineligible ITC in GSTR-3B on account of IGST paid on inward interstate supply and import supplies which might have culminated in short transfer of …

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ITR filing to bank KYC: Complete these 8 important tasks by March 31, otherwise you will have a lot of trouble from next month

The current financial year 2021-22 is about to end in a few days. With the end of this financial year, the deadlines of many works are also going to end. These also include some financial work. If you do not complete these works by March 31, then you may have to face trouble. These tasks …

ITR filing to bank KYC: Complete these 8 important tasks by March 31, otherwise you will have a lot of trouble from next month Read More »

Breaking: CBIC Issues SOP For Scrutiny Of Returns For F.Y. 2017-18 And F.Y. 2018-19

Breaking: CBIC Issues SOP For Scrutiny Of Returns For F.Y. 2017-18 And F.Y. 2018-19

Vide Instruction No. 02/2022- GST, Dated 22nd March 2022, CBIC has issued SOP for scrutiny of returns for F.Y. 2017-18 and F.Y. 2018-19. Let us tell you that Section 61 of the CGST Act and Rule 99 of the CGST Rules are dealing with scrutiny of returns. Section 61 of CGST Act (1) The proper …

Breaking: CBIC Issues SOP For Scrutiny Of Returns For F.Y. 2017-18 And F.Y. 2018-19 Read More »

Latest Income Tax & GST Weekly Due Dates, Notifications / Press Info, Case Laws, etc

Latest Income Tax & GST Weekly Due Dates, Notifications / Press Info, Case Laws, etc

Dear Readers, We are delighted to share our 67th E-Newsletter “Weekly Taxation Newsletter” dated 15th March, 2022 from 08th March, 2022 to 14th March, 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, …

Latest Income Tax & GST Weekly Due Dates, Notifications / Press Info, Case Laws, etc Read More »

Auditing officers lose adjudicating notice power under GST system

Assessees have got some relief as only jurisdictional tax officers would now be able to adjudicate notices issued under the goods and services tax (GST) system. The power to adjudicate these notices have been taken away from auditing and investigating officers under the GST system, according to a circular issued by the Central Board of Indirect Taxes and Customs …

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GST UPDATE

Latest GST News, Information, Notifications & Announcements [Period 07/03/22 to 13/03/22]

1. GSTN enhances GST Registration Application user interface: User Interface (UI) with respect to the address fields in the Registration Application GST REG-01 has been enhanced as follows:- Incorporation of a map tile along with a drag and drop facility of address pinhead on to the exact location of the applicant’s address. Once selected, the …

Latest GST News, Information, Notifications & Announcements [Period 07/03/22 to 13/03/22] Read More »

Kerala FM Announced the launch of a mobile application ‘Lucky Bill Scheme’ for uploading GST invoices

GST App: ‘Lucky Bill Scheme’– Kerala Finance Minister KN Balagopal, during Budget, has announced the launch of a mobile application ‘Lucky Bill Scheme’ for uploading GST invoices. He has further stated about this application that, this is an important step in order to tackle GST Evasion from the root level and also attractive prizes will …

Kerala FM Announced the launch of a mobile application ‘Lucky Bill Scheme’ for uploading GST invoices Read More »

Latest Income Tax & GST Weekly Due Dates, Notifications / Press Info, Case Laws, etc

Latest Income Tax & GST Weekly Due Dates, Notifications / Press Info, Case Laws, etc

Dear Readers,We are delighted to share our 66th E-Newsletter “Weekly Taxation Newsletter” dated 08th March, 2022 from 01st March, 2022 to 07th March, 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, Case …

Latest Income Tax & GST Weekly Due Dates, Notifications / Press Info, Case Laws, etc Read More »

Weekly Corporate Compliance Calendar for March, 2022 [Period 01/03/22 to 07/03/22]

Weekly Corporate Compliance Calendar for March, 2022 [Period 01/03/22 to 07/03/22]

1. SEBI UPDATES: [Sl.  Particulars  Link  1  Adjudication Order in respect of 13 entities in the matter of IPO of Channel Nine Entertainment Ltd  Click Here  2  Takeover – Eveready Industries Limited  Click Here  3  Adjudication order in respect of ABN Global Securities Private Limited in the matter of dealing in Illiquid Stock Options at …

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Issue SCN Under GST in Time Bound Manner: Delhi Government

Issue SCN Under GST in Time Bound Manner: Delhi Government

GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE & TAXES (POLICY BRANCH) VYAPAR BHAWAN, I.P.ESTATE, NEW DELHI-110002 No. F. 3(409)/GST/policy/2021/1054-1058 Dated: 04/03/2022 To, (i) All Special/Additional/Joint Commissioners (ii) All Ward In charges Subject- Issuance of SCNs in time bound manner- regarding. The Instruction No. 02/2021-22/GST-Investigational regarding issuance of SCNs in time bound manner …

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