The applicant is not required to pay GST on RCM basis under section 5(3) of the IGST Act, 2017 on commission paid to the “Overseas Commission Agent:.
Central Board of Indirect Taxes (“CBIC”) has notified Central Goods and Service Tax (Fourth Amendment) Rules, 2021 vide Notification No. 15/2021-Central Tax dated 18th May, 2021 to make amendment in provisions related to Revocation of Cancellation of GST Registration and Refund under GST.
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.
The GST Council in its 43rd meeting held on 28th May 2021 at New Delhi took
the important decisions related to changes in GST interest and penalties for late filing of GST returns.
CBIC highlighted that detailed procedures are provided for processing of Department ligitations. However, such procedures are not being followed seriously and therefore, delayed departmental appeals/petitions are filed before the Hon’ble Courts
To ease this communication, the GST system has added a new Facility of “Communication Between Taxpayers” on the GST portal. This facility will enable a taxpayer (whether supplier or recipient) to send a message to another registered person (whether supplier or recipient) through the GST portal itself. Counterparty can send his reply using the same feature. This facility is available for all registered persons except those registered under TDS, TCS and Non-resident Tax payers (NRTP).
CBIC assured that no recoveries shall be made for the past periods as well, i.e., delayed GST payment made upto 31.08.2020, by any of the Central and State tax administration. Therefore, interest computation for earlier period shall be carried out in accordance with the decision taken in the 39th meeting of GST Council only.
For the purpose of proper transition to GST, transfer of ITC lying under pre-GST regime to GST regime was a prerequisite. Taxpayers need to file TRAN-1 and TRAN-2 for this purpose. Initially, government offered a sunset date beyond which taxpayers were not allowed to transfer unutilised ITC. However, due to technical glitches at the GST portal, many taxpayers failed to file such forms by due date. Hence, the due date got further extension for filing GST TRAN-1 and GST TRAN-2. The new dates to file TRAN-1 and TRAN-2 are 31.03.2020 and 30.04.2020 respectively. Rule 117(1A) of CGST Act 2017- “[(1A)
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
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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