GST Notification

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Cancellation of GST by Officer and Revocation of GST Cancellation
Blog
CA. Kapil Mittal

Cancellation of GST by Officer and Revocation of GST Cancellation

Incorporation of penal provision in any kind of statute is a mandate to ensure that applicable person make compliance thereof. Similarly, Goods and Service Tax (“GST”) law provides for various penal action for non-compliance of GST provisions. One of such action is suo-moto cancellation of GST registration by proper officer. 1. Cancellation of GST Registration by proper officer 1.1 Grounds of Cancellation of GST Registration Section 29(2) of Central Goods and Service Tax Act, 2017 (“CGST Act, 2017”) provides for various grounds of suo-moto cancellation of GST registration by proper officer such as: Registered person contravenes provisions of GST Law

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Composition Scheme extended to supplier of Services
Composition scheme
CA. Kapil Mittal

Composition Scheme extended to supplier of Services

CBIC has extended benefit of composition scheme to supplier of service vide notification no. 2/2019-Central Tax (Rate) dated 7th March, 2019 upto first aggregate turnover of INR 50 Lacs. Supplier is liable to discharge GST @ 6% on such supplies.

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gst amendment act 2018
Goods and Service Tax
CA. Sachin Jindal

GST Amendment Act, 2018 & Its Impact: 20 Major Changes

THE CENTRAL GOODS AND SERVICE TAX (AMENDMENT) ACT, 2018 With the approval from the GST council in the meeting held on January 10 2019, the changes made by the CGST (Amendment) Act, 2018, IGST (Amendment) Act, 2018, UTGST (Amendment) Act, 2018 and GST (Compensation to States) Amendment Act, 2018 along with the corresponding changes in SGST Acts will be applicable from 1sr February 2019. Keeping in view the implementation of the amendments made in the GST taking place from 1st Feb 2019, it is highly recommended that you must be aware of the changes that have been made in order

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Formats for filing Annual Returns revised GSTR-9 and GSTR-9C
Goods and Service Tax
CA. Sachin Jindal

Formats for filing Annual Returns revised GSTR-9 and GSTR-9C

1. Formats for filing Annual Returns revised Revised Formats for filing Annual Return in Form GSTR – 9, Form GSTR – 9A, Form GSTR – 9C have been notified. The summary of changes made in GSTR – 9 is given below: 2. Details of outward and inward supplies liable to RCM made during the FY (Part – II) to be prepared based on GSTR – 3B There was a lack of clarity as to whether GSTR-9 has to be prepared on the basis of GSTR-1 or GSTR-3B. It has now been clarified that all the outward supplies for which payment

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Amendments to the CGST Rules (1)
Goods and Service Tax
CA. Kapil Mittal

Amendments to the CGST Rules

1. Introduction The Goods and Services Tax (‘GST’) Council in its 31st Meeting held on 22 December 2018 has made several taxpayer-friendly decisions. The GST Council has tried to address some of the difficulties faced by taxpayers by making clarificatory amendments to the CGST Rules in response to the representations received from various stakeholders. In order to give effect to the decisions of the GST Council, the Central Board of Indirect Taxes and Customs has issued Notification No. 74/2018 – Central Tax on 31 December 2018 in relation to various amendments pertaining to CGST Rules, 2017 (Link: ) The summary

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Exemption for intra-State supply of gold
Goods and Service Tax
CA. Kapil Mittal

Exemption for intra-State supply of gold

Notification No.26/2018-Central Tax (Rate) – Exemption for intra-State supply of gold when supplied by Nominated Agency under the scheme for ‘Export Against Supply by Nominated Agency’ (“FTP Gold Export Scheme”) The CBIC has provided an exemption to intra-State supply of gold by Nominated Agency to a registered person (‘recipient’) subject ot the following conditions: The supply is in accordance with the FTP Gold Export Scheme (as referred to in paragraph 4.41 of the Foreign Trade Policy, read with relevant provisions of Chapter 4 of Handbook of Procedures). The Nominated Agency and the recipient shall follow the conditions and observe the

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Extension and waiver various GST returns till March 2019
Goods and Service Tax
CA. Sachin Jindal

Extension and waiver various GST returns till March 2019

Introduction The Goods and Services Tax (‘GST’) Council in its 31st Meeting held on 22 December 2018 has made several taxpayer-friendly decisions. Some of the decisions include providing an extension in the due dates for filing returns and waiver of late fees for those taxpayers who could not complete the GST registration process after obtaining provisional registration. In order to give effect to the decisions of the GST Council, the Central Board of Indirect Taxes and Customs has issued several notifications on 31 December 2018. The gist of the notifications along with the revised due dates/ compliance required and the

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GST Notification on revised tax rates for various goods and services with effect from 1 January 2019
Goods and Service Tax
CA. Kapil Mittal

GST Notification on revised tax rates for various goods and services with effect from 1 January 2019

Introduction The CBIC has  issued several GST Notifications in order to put the existing confusions and differences in interpretation to rest in relation to classification and tax treatment of various goods and services. From time to time, the Government has undertaken a critical review of the tax rates and classification of various goods and services under the Goods and Services Tax (‘GST’) law. In this process, the tax rates of various goods and services have been recommended for reduction/ exemption by the GST Council during the 31st Meeting held on 22 December 2018. These decisions also fulfil the industry representations

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