Notification

Clarification Regarding Extension Of Limitation Under CGST Act
News and Announcements
CA. Sachin Jindal

Clarification Regarding Extension of Limitation Under CGST Act

The GST Policy Wing of the Government of India passed a set of notifications under S.168A of the CGST Act, 2017 whereby the time limits and limitation period of various activities and actions of different authorities on multiple issues were specified and extended to certain dates based on the nature of the activity.

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Quarterly Return And Monthly Payment |QRMP Scheme
Returns
CA. Sachin Jindal

Quarterly Return and Monthly Payment |QRMP Scheme

In this article we will discuss, about QRMP scheme issued by the Central Board of Indirect Taxes & Customs (CBIC) under Goods and Services Tax (GST) which help small taxpayers whose turnover upto Rs.5 crores. The QRMP scheme provides to the taxpayers to file a return GSTR-3B on a quarterly basis and pay tax every month.

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Standard Operating Procedure
Notification
CA. Kapil Mittal

Standard Operating Procedure in case of alerts in IGST Refund

On 23rd January 2020, the Central Board of Indirect Taxes and Customs (CBIC) has published Circular No.131/1/2020-GST regarding the Standard Operating Procedure (SOP). This new procedure is for those exporters whose refund has been stuck due to alerts in IGST refund at custom. In June 2018, the CBIC has noticed instances of fraudulent ITC claims using ineligible documents and subsequent utilization of the credit for the purpose of payment of IGST exports. In addition, there were substantial variations between the FOB value declared in the Shipping Bill and the Taxable Value declared in the GST returns, with the intent of

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File GSTR-3B Returns in staggered manner
News and Announcements
CA. Sachin Jindal

Taxpayers Are Allowed to File GSTR-3B Returns in a Staggered Manner from Now On!

On 22nd January 2020, the Finance Ministry announced that taxpayers are now allowed to file GSTR-3B returns in a staggered manner. After taking the hassle of return filing into account, the Government has decided to ease the process for trade and industries. Hence they have introduced different measures. Here you are going to get a complete overview below. Therefore, go through the post now and understand all the changes that are going to come. Parameters for filing GSTR-3B Returns Before the release of the latest notification, every taxpayer used to have a deadline of the 20th of every month to

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Fake ITC Claims
Orders
CA. Sachin Jindal

Fake ITC Claims: CGST Departments Has Started Blocking Fake Claims

The Office of Directorate General of GST Intelligence has released a new notification to take actions against fake ITC claims. The DGGI  issued the notification in the interest of Principal Chief Commissioners and Chief Commissioners, CGST, asking them to block Input Tax Credit under the 86(1)(a) of CGST Rules 2017. As the rule suggests, the Zonal Chief Commissioners can block or unblock Input Tax Credit availed against fake invoices. The Principal DG has released the notification to take action against the ITC claims issued without the proper receipt of Goods or services. However, the notification suggested some implementation to proceed

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Cancellation of GST by Officer and Revocation of GST Cancellation
Registration
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, the Goods and Service Tax (“GST”) law provides for various penal action for non-compliance of GST provisions. One such action is suo-moto cancellation of GST registration and Revocation of GST Cancellation by the 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

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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 Amendment Act (Compensation to States), 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
Audits
CA. Sachin Jindal

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

1. Formats for filing Annual Returns revised GSTR-9 and GSTR-9C Revised GSTR-9 and GSTR-9C 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

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Amendments to the CGST Rules (1)
Notification
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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