The Central Board of Indirect Taxes and Customs (CBIC) vide its Notification No 31/2021 – Central Tax dated 30th July 2021 exempts the registered person whose aggregate turnover in the financial year 2020-21 is up to Rs 2 Crores from filing Annual Return GSTR-9 for the financial year 2020-21. Government of India Ministry of Finance
The Central Board of Indirect Taxes and Customs (CBIC) vide its Notification No 30/2021 – Central Tax dated 30th July 2021 notify the amendment in Form 9 Annual Return and Form 9C Reconciliation Statement for the FY 2020-21 and Part-B of Form GSTR-9C has been omitted. Government of India Ministry of Finance (Department of Revenue)
The Central Board of Indirect Taxes and Customs (CBIC) vide its Notification No 29/2021 – Central Tax dated 30th July 2021 appoints the 01st August 2021 as the date on which the provisions of sections 110 and 111 of the Finance Act, 2021 shall come into force. Section 110 of the Finance Act, 2021 omitted
GSTN has implemented a new functionality on taxpayers’ dashboards with the following features: •The taxpayers can now see the exact Annual Aggregate Turnover (AATO) for the previous FY, instead of just the two slabs of Above or Upto Rs. 5 Cr. •The taxpayers can also see the Aggregate Turnover of the current FY based on
The issue before the Appellate Authority for Advance Ruling, Kerala (‘AAAR’) was the taxability of discounts reimbursed by Castrol India Limited to its authorized dealer (i.e. ‘the Appellant’), against supplies made by the Appellant at a discounted price to its customers. Facts of the case: M/s Santhosh Distributors (‘Appellant’) an authorized dealer of Castrol India
The Central Board of Indirect Taxes and Customs (CBIC) vide its Circular No 157/13/2021 – GST dated 20th July 2021 issues clarification with respect to the extension of limitation under GST Law in terms of Hon’ble Supreme Court’s Order dated 27th April 2021. Circular No. 157/13/2021-GST File No: CBIC-20006/10/2021 Government of India Ministry of Finance
NO ITC REVERSAL REQUIRED IN CASE OF LOSS ARISING FROM THE MANUFACTURING PROCESS In the recent order passed by the Hon’ble High Court of Madras in the matter of M/s. ARS Steels & Alloys International Private Limited v/s The State tax officer, Group-1, Inspection, Intelligence – 1, Chennai (2021 VIL-484-MAD) in respect of the requirement for
The Central Board of Indirect Taxes and Customs (CBIC) vide its Circular No 156/12/2021 – GST dated 21st June 2021 issues clarification with respect to applicability of Dynamic Quick Response (QR) Code on B2C invoices and compliance of Notification No. 14/2020 – Central Tax dated 21st March, 2020. CBIC Clarifies that: 1. Invoice issued to
The Central Board of Indirect Taxes and Customs (CBIC) vide its Circular No 155/11/2021-GST dated 17th June 2017 clarified that GST rate 12% on Sprinklers or Drip Irrigation System along with their laterals/parts. Circular No. 155/11/2021-GST CBIC-190354/36/2021-TRU Section-CBEC Government of India Ministry of Finance (Department of Revenue) North Block, New Delhi, Dated the 17th June
The Central Board of Indirect Taxes and Customs (CBIC) vide its Circular No 152/08/2021-GST dated 17th June 2021 clarifies that construction services provided to a Government Entity, in relation to construction such as of a Ropeway on a turnkey basis do not eligible for concessional rate of 12% GST under entry No. 3 (vi) of
