The Central Board of Indirect Taxes and Customs (CBIC) vide its Circular No 148/04/2021 – GST dated 18th May 2021 notify the Standard Operating Procedure (SOP) for implementation of the provision of extension of time limit to apply for revocation of cancellation of registration under section 30 of the CGST Act, 2017 and rule 23
Power of Commissioner for provisional attachment under GST In the recent past, it has been seen that the GST authorities are inappropriately misusing the provisions of Section 83 of CGST Act, 2017 for provisionally attaching the properties and bank account of the taxable person without fulfilling the conditions prescribed under the statute for the valid
The Central Board of Indirect Taxes and Customs (CBIC) has vide its Notification No 13/2021 – Central Tax dated 01st May 2021 relaxes the compliance of Rule 36(4) related to restriction of input tax credit and Rule 59(2) related to Invoice Furnishing Facility (IFF). However, the taxpayer should comply with Rule 36(4) cumulatively for the
The Central Board of Indirect Taxes and Customs (CBIC) vide its Notification No 07/2021 – Central Tax dated 27th April 2021 have added a proviso to Rule 26 (1) in Central Goods and Services Tax Rules 2017 related to verification of GSTR-1 and GSTR-3B through electronic verification code (EVC) for the new taxpayer registered under
Across the Globe, various countries in their law of the land have provided for the establishment of Special Economic Zones (SEZs) which are physically located within the borders but financially and economically treated as establishment outside the territory of the country. In India government has provided approval for over 250 SEZs to operated and providing
Government of India, Ministry of Finance (Department of Revenue), CBIC, vide Notification No 82/2020 – Central Tax, dated 10th Nov., 2020, has revised Rule 61 of the Central Goods and Services Tax Rules, 2017, to provide for staggered filing of Form GSTR-3B, for the tax periods from January, 2021, onwards, as under: Sl.No. Class of registered
GST helpdesk is in receipt of some tickets at helpdesk wherein it was reported that certain 6-digit HSN codes are not available in HSN Master/ not accepted on e-invoice/e-Way bill portals. Background: Notification No. 12/2017-Central Tax dated June 28, 2017, as amended vide Notification No. 78/2020 – Central Tax, dated October 15, 2020, mandates taxpayers to
The new features related to filing of Statement/ Returns by taxpayers under QRMP Scheme, for the quarter Jan-Mar., 2021, which has been made available to them are summarized below. 1. Auto Generation of Form GSTR-2B, for the QRMP taxpayers a)Form GSTR-2B contains details of filed IFFs (for Month M1 & M2) & filed Form GSTR 1 (for Month M3).
