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
The Central Board of Indirect Taxes and Customs (CBIC) vide its Circular No 10/2021 – Customs dated 17th May 2021 notify the changes introduced through the Customs (Import of Goods at Concessional Rate of Duty) Amendment Rules, 2021. The said rules have been introduced keeping in view the demands from the trade and industry and
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
The CBIC vide Notification No. 19/2021-Customs, dated 30th March 2021 has extended the period of exemption granted to Export-Oriented Units (“EOU”), Software Technology Parks (“STP”) units, Electronic Hardware Technology Park (“EHTP”) units etc. from payment of Integrated Goods and Services Tax (“IGST”), and compensation cess on the supplies of specified goods, from 31st March 2021
The Goods and Services Tax Network (GSTN) has issued an advisory on the filing of GSTR-1 for the month of March 2021. GSTN said that “auto-population of e-invoices into GSTR-1 (of March 2021) is still in progress and is likely to take some more time”, accordingly the tax-payers are advised that do not to wait
The Goods and Service Tax Network (GSTN) has issued an advisory for the filing of GSTR – 1 Quarterly for the period from January to March 2021 under Quarterly Return Monthly Payment (QRMP) Scheme. The taxpayers under the QRMP scheme have a facility to file Invoice Furnishing Facility (IFF) in the first two months of
