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Showing posts from November, 2020

GST: Quarterly Return & Monthly Payment – QRMP effective from 1-1-2021

The topic itself is self-explanatory, a recent development when GST Council met in its 42nd meeting held on 05.10.2020 and decided to allow up to 5 crore turnover suppliers proceed with 'QRMP'. Why I came to understand that I should write on this topic - naturally peculiarity of this scheme and some extent it’s complex terminology which if explained in simple terms then it will be very helpful to the suppliers at large. So let us begin our small journey to explain the scheme in detail. from TaxGuru https://ift.tt/36imq92 via gqrds

Join Certification Courses on GST, Customs & FTP and Income Tax

Join Professional Development & Certification Courses on GST, Customs & FTP and Income Tax by TaxGuru Edu. TaxGuru Edu, an educational wing of TaxGuru, announces Online Professional Development Courses on GST, Customs & FTP and Income Tax to help you in learning them in a practical way. Course 1 – Professional Development Course on GST […] from TaxGuru https://ift.tt/2IOHtXo via gqrds

Rajasthan HC grants bail to person accused of wrongfully availing ITC under GST

Subhash Chandra Tyagi Vs Directorate General Of Goods And Service Tax (Rajasthan High Court) The present bail application has been filed under Section 439 Cr.P.C. The petitioner has been arrested in connection with Criminal Complaint No. DGGI /320/ Gr.I/ INV/ GST/ SCT/ 15/2019 registered at Chief Metropolitan Magistrate (Economic Offences Court), District Jaipur for the […] from TaxGuru https://ift.tt/3o6TOWk via gqrds

Section 142(1) obliges SCN under GST to be uploaded on website: HC

Ram Prasad Sharma Vs. Chief Commissioner and another (Madhya Pradesh High Court) petitioner has drawn the attention of this Court to the provision of Rule 142(1) of CGST Act to contend that the said provision statutarily obliges the revenue department to communicate show-cause notice/order by uploading the same on the website of revenue so that […] from TaxGuru https://ift.tt/3o4WmnV via gqrds

Whether GST Liability can be paid in Monthly Installments?

Petitioner is a private limited company and registered under GST Act, 2017 as a service provider and has admitted Tax arrears for Nov’2018 to March’19 of Rs. 4,00,000/- which it intendeds to pay in monthly installment along with the applicable interest and late fees. As the business of the petitioner has been severely affected by the pandemic, it is not in the financial position to pay the arrears of tax. from TaxGuru https://ift.tt/3mkGywL via gqrds

93% of Registered Persons in GST: Be alert of crucial date of 30.11.2020

93% of Registered Persons in GST: Be Alert of the Crucial Date of 30th November, 2020. In India, at present about 93% of the total Registered Persons under GST are having their annual turnover of up to Rs. 5 crores, and the tomorrow’s date of 30.11.2020 is very significant and crucial for all such registered […] from TaxGuru https://ift.tt/3mk6h8D via gqrds

Applicability of TDS under GST: Section 51 of CGST Act, 2017

Section 51 r.w. Rule 66: Tax Deductible at Source (TDS) refers to certain percentage that is deducted by the receiver of Goods/services on the amount payable on account of Supply made if Transaction Value as per Section 15 of CGST act 2017 exceeds 2.5 Lakhs.  from TaxGuru https://ift.tt/36fFIfe via gqrds

Punjab chooses Option-1 to meet the GST implementation shortfall

Governments of Punjab has communicated acceptance of Option-1 to meet the revenue shortfall arising out of GST implementation. The number of States who have chosen this option has gone up to 26. All the 3 Union Territories with Legislative Assembly (i.e. Delhi, Jammu & Kashmir and Puducherry) have also decided in favour of Option-1. from TaxGuru https://ift.tt/3lfTe6L via gqrds

DGGI Gurugram arrests one for illegally manufacturing cigarettes & tax evasion

The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana has arrested one Sh. Satyender Sharma resident of Haryana on charges of manufacturing and supplying illegally manufactured cigarettes without the requisite tax paying documents and without payment of applicable GST and cess. from TaxGuru https://ift.tt/2VcNwZ5 via gqrds

Form GST EWB-05 filing to un-block E-Way Bill generation facility

In terms of Rule 138E (a) and (b) of the CGST Rules, 2017, the E-Way Bill (EWB) generation facility of a taxpayer is to be blocked, in case the taxpayer fails to file their returns in Form GSTR-3B or Statement in Form CMP-08, for two or more consecutive tax periods. For unblocking of this facility, taxpayer need to apply to jurisdictional Tax Official in Form GST EWB 05. from TaxGuru https://ift.tt/3mmfBZU via gqrds

Unblocking of E-Way Bill Generation Facility

In terms of Rule 138E (a) and (b) of the CGST Rules, 2017, the E-Way Bill (EWB) generation facility of a taxpayer is to be blocked, in case the taxpayer fails to file their returns in Form GSTR-3B or Statement in Form CMP-08, for two or more consecutive tax periods. For unblocking of this facility, […] from TaxGuru https://ift.tt/33rcS9Z via gqrds

Intertwining of GST Refunds with Benefits under Advance Authorization

1. Recently a spate of notices have been issued by the DRI to the exporters who have availed the scheme of Advance Authorization under the FTP asking the exporters to pay the IGST on the imports made on or after 23.10.2017 in cases where the refund of the accumulated input tax credits (‘ITC’) have been […] from TaxGuru https://ift.tt/3qdSTWe via gqrds

HC Grant Petitioner Opportunity to file Representation Regarding Refund of Excess Payment of Tax

The present petition is filed to seek refund of excess payment of tax, if payment was made through ITC. HC grant the petitioner an opportunity to explain its stand on GSTR-1 and GSTR-3B as also the Circulars. from TaxGuru https://ift.tt/39qmxkS via gqrds

Refund for Export of Goods Can’t be Rejected Merely for export of Goods through Foreign Post Office

The issue under consideration is whether the denial of the refund to the petitioner against exports of goods outside India on the sole ground that petitioner had exported goods through Foreign Post Offices is justified in law? from TaxGuru https://ift.tt/2V80IhM via gqrds

PIL challenging constitution of AAR – HC issues Notice to Government

Rajendra Kumar Duggar Vs Union of India & Ors. (Calcutta High Court) Hon’ble Calcutta High Court has issued notice to Centre and State Government in a PIL filed by CA Rajendra Kumar Duggar wherein the petitioner has challenged the constitution of the Authority of Advance Ruling and Appellate Authority for Advance Ruling constituted under the […] from TaxGuru https://ift.tt/3mhmdbI via gqrds

Blocking and Unblocking of EWB generation facility in EWB Portal

Blocking of e-waybill generation facility means disabling taxpayer from generating E Way Bill, in case of non-filing of 2 or more consecutive GSTR 3B Return on GST Portal, by such taxpayer (refer Rule 138E of CGST/SGST Rules, 2017). The GSTINs of such blocked taxpayers cannot be used to generate the e-way bills either as Consignor or Consignee. from TaxGuru https://ift.tt/34P1Wl9 via gqrds

SOP for verification of taxpayers granted deemed GST registration- Reg.

Instruction No. 4/3/2020-GST CBEC-20/13/06/2020-GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing **** New Delhi, Dated the, 27th November, 2020 To, The Principal Chief Commissioners/Chief Commissioners/Principal Commissioners/ Commissioners of Central Tax (All) The Pr. Director General, DG (Systems) Madam/Sir, Sub: Standard Operating Procedure (SOP) […] from TaxGuru https://ift.tt/2VcgWq8 via gqrds

Major decisions of 42nd meeting of GST Council held on 05.10.2020

This is for information of all taxpayers that the following proposals have been approved by the GST council, in its 42nd meeting, held on 5th October, 2020. The proposed timelines for implementation of the said decisions are given in the table below:- from TaxGuru https://ift.tt/39ngbmg via gqrds

List of cases selected for GST Audit in Maharashtra for period 2017-2018

Maharashtra GST Department has released List of cases selected for Audit under GST Act, 2017 for the period 2017-2018 on its website. Maharashtra GST Department has selected 3764 cases for GST Audit. List contains Sr. No., GSTIN Registration, Trade Name, Desk ID, Location, Division and Zone. Download List of cases selected for GST Audit in […] from TaxGuru https://ift.tt/2HKPpc9 via gqrds

IGST Refunds – Genuine Exporters-Rule of Law Missing?

Though GST department claims only a miniscule percentage of exporters have been selected for risky exporter verification, it appears many exporters even with a good reputation over couple of decades in exporting the goods have been also selected for this verification!! from TaxGuru https://ift.tt/39jdlPn via gqrds

Show Cause Notices to Taxpayers Under GST Act Mandatory to Upload on Website – Mere E-Mail is not Suffice

Show Cause Notices (SCN) to Taxpayers Under GST Act Mandatory to Upload on Website – Mere E-Mail is not Suffice 1. The Honourable Madhya Pradesh Court in case of Akash Garg Vs State of M.P, vide order dated 19.11.2020 held that statutory procedure prescribed for communicating show-cause notice or order under Rule 142(1) of CGST […] from TaxGuru https://ift.tt/33lYdga via gqrds

Join Certification Courses on GST, Customs & FTP and Income Tax

Join Professional Development & Certification Courses on GST, Customs & FTP and Income Tax by TaxGuru Edu. TaxGuru Edu, an educational wing of TaxGuru, announces Online Professional Development Courses on GST, Customs & FTP and Income Tax to help you in learning them in a practical way. Course 1 – Professional Development Course on GST […] from TaxGuru https://ift.tt/2IOHtXo via gqrds

DG, GST arrests 3 in massive GST frauds of more than Rs 2350 crores

The Mumbai Zonal Unit of the Directorate General of GST Intelligence, [DGGI-MZU], Central Board of Indirect Taxes & Customs (CBIC), today (November 25, 2020), arrested three persons for having indulged in massive frauds involving the availment & utilization, as well as passing on of ineligible Input Tax Credit (ITC) on the strength of bogus invoices. This has been stated in a press release issued by Seema Jere Bisht, Pr. Additional Director General, DGGI-MZU. from TaxGuru https://ift.tt/3mhC0ri via gqrds

GST Payment challans needs changes to incorporate accounting code

As you are fully aware that, In GST, Tax payer has to pay GST payment (Regular / RCM) through PMT 06 challan. Tax payers is discharge his liability through Challan ( If Input Tax is not available ) may be arise as per Regular transaction or Reverse charge Mechanism. For filling tax of regular payment […] from TaxGuru https://ift.tt/33maEbN via gqrds

Major Recent Updates in GST

It is expected by various agencies that GDP may fall in majority of major economies amid covid crisis. In Q2 of 2020-21, India may be one of the slowest growing economies. In Q1, India’s growth has fallen the steepest among G-20 nations. Although markets have responded positively to the vaccine news, rising cases of Covid […] from TaxGuru https://ift.tt/2HJu9Ug via gqrds

SEZ unit/developers ineligible to claim refund of ITC involved in supplies received from non-SEZ suppliers

The Hon’ble Appellate Authority, GST, Andhra Pradesh, in Re: Vaachi International Pvt. Ltd.  [Order No. 4990 of 2020 dated February 10, 2020] held that the SEZ unit/developers shall not claim any refund against input tax credit (ITC) involved in supplies received by them from non-SEZ suppliers and GST Law facilitates eligibility for refund claim to […] from TaxGuru https://ift.tt/3fxP4pQ via gqrds

Physically record statement in alleged GST evasion case: HC directs Byju’s CFO

The present petition is filed to seek a writ of Mandamus to direct Respondent No. 1, the Senior Intelligence Officer, Director General of GST Intelligence (“DGGSTI”) to allow the Petitioner to tender his statement and adduce evidence through video conferencing, in relation to a summon issued under Section 70 of the CGST Act, 2017. from TaxGuru https://ift.tt/2UTwNK6 via gqrds

DGGI Refused to Grant Bail to Person Accused of GST Evasion

Present petition is filed to seek bail to the person accused of establishing bogus firms & issuing only invoices without actual supply. from TaxGuru https://ift.tt/33d68wo via gqrds

HC Allows Petitioner Retrospective Registration under Tamil Nadu GST

HC Allows Petitioner Retrospective Registration under Tamil Nadu GST. Court directs the respondents to consider the petitioner's representation, dated 14.09.2020 seeking for validation of his registration from 01.07.2017 itself and pass final orders on merits and in accordance with law. from TaxGuru https://ift.tt/3furw4Z via gqrds

DGGI Rohtak arrests one more in Hisar for issuing fake invoices of ITC

In pursuance of ongoing investigation of fraudulent passing of Input Tax Credit (ITC)wherein one person namely Sh. Satender Kumar Singla of Hisar was arrested on 12.11.2020,the Directorate General of GST Intelligence (DGGI), Regional Unit, Rohtak falling under Gurugram Zonal Unit has arrested one more person namely, Sh. Vikas Jain, of Jind on 23.11.2020. from TaxGuru https://ift.tt/2UVNjt9 via gqrds

If Registered with GST Liable to file GST Return despite Not Liable to Pay GST

The present writ petition is based on the facts that owing to the advent of the new GST regime in case petitioner who is registered with GST is of the view that, is not liable to pay tax for these period need not file GST returns showing nil, but the provisions of the Act envisages requirement of filing returns. from TaxGuru https://ift.tt/3l0atJo via gqrds

HC upheld GST Registration Cancellation on Failure of Appellant to pay Tax Installments

Kerala High Court cancelled the GST registration of the Appellant since they have not deposited the payment of Central Goods and Services Tax(CGST) and also the State Goods and Services Tax (SGST) from year 2017 onwards till the date of hearing. from TaxGuru https://ift.tt/2KwKkVT via gqrds

Letter to FM on issues in GSTR 2A & GST 2B – ITC availment

Respected Madam, My self- Rajesh Deshpande from Pune Maharashtra working as a Manager-Finance in Pharmaceutical Company name of SAVA HEALTHCARE LTD. We would like to bring your kind attention towards current system of ITC availement and issues creating regarding at the time of reconciliation. As you are fully aware that, GST2B is inserted on portal […] from TaxGuru https://ift.tt/2UWZ2ro via gqrds

Understanding Fake Input Tax Credit & How to Unplug Them

It’s almost 34 months since GST has been introduced in India and one of the major Shortfalls of the GST is creation of fake invoices to wrongly avail fake credit out of thin air thereby creating revenue loss to the Government which is not acceptable, to make you understand this concept let me explain the […] from TaxGuru https://ift.tt/3kTNIqq via gqrds

Place of Supply under GST (Summarized)

PLACE OF SUPPLY (SUMMARISED) Place of Supply is important to determine: – -Whether the supply is Interstate or Intrastate. -Resulting to which, Whether SGST/UTGST plus CGST is leviable or IGST is leviable. If inter state transaction is wrongly treated inter-state or vice-versa and tax paid accordingly, then it can be rectified. However, procedural requirements increase […] from TaxGuru https://ift.tt/35RGbEs via gqrds

Registration and Self Assessment Tax under CGST, 2017

The liability to register under GST arises when aggregate turnover of a supplier exceeds threshold limits. The registered person acquires a 15-digit GSTIN from the tax authorities so that he is eligible to collect tax on behalf of the Government and thereby avail the benefit of Input Tax Credit. Every registered person shall make a […] from TaxGuru https://ift.tt/3pRXQ6y via gqrds

5% GST on sale of Micafunign Sodium by DTA unit of BIOCON: AAAR

Sale of Micafunign Sodium by the DTA unit of Appellant is covered under Serial No. 114 of Entry No. 180 of Rate Notification No 01/2017 CT (R) and therefore, is leviable to GST at the rate of 5%'. from TaxGuru https://ift.tt/39b0e2m via gqrds

AAR allowed withdrawal of ruling application as relevant Venture was over

In the reference 5th cited, M/s. Savitri Ashirvaad Buildtech Limited, have informed through mail, that the Venture is over and they don’t need the ruling.  Hence the dealer has withdrawn the advance Ruling Application. from TaxGuru https://ift.tt/2HlOVsO via gqrds

GST order passed is bad in law if mandatory procedures not followed

Shri Shyam Baba Edible Oils Vs Chief Commissioner and another (Madhya Pradesh High Court) In the case of Shri Shyam Baba Edible Oils Vs Chief Commissioner and another it was held by Madhya Pradesh High Court that If mandatory procedures as per rule not followed the orders passed are bad in law under GST. It […] from TaxGuru https://ift.tt/35Ou6zA via gqrds

Notice issued in challenge to constitutional validity & vires of 16(4) of CGST Act 2017/WBGST Act 2017 by Calcutta HC

Rainbow Infrastructure Private Limited & Anr Vs Assistant Commissioner (Calcutta High Court) Hon’ble Calcutta High Court has issued notice to Centre and State Government in the matter of Latika Ghosh Vs ACST, Raiganj Charge & others, W.P. A. No. 7272  of 2020, in the matter of Rainbow Infrastructure Pvt. Ltd. Vs. ACST, Barrackpore Zone & […] from TaxGuru https://ift.tt/392AzJi via gqrds

GST: DRC-03, DRC-04 and DRC-05 user Manual

This presentation will familiarise you with the end-to-end processes involved in payment made by the Taxpayer using DRC-03 and verification of such payment made using DRC-03 and issuance of acknowledgement of Payment through DRC-04 or Conclusion of Proceeding through DRC-05 as per the Cause of Payment in the CBIC-GST application. At the end of this […] from TaxGuru https://ift.tt/392ZUTj via gqrds

Webcast on GST, E-Invoicing, Return, Departmental Audit, Risky Exporters & Litigation

Webcast on GST E-Invoicing (For 100 Crs + Taxpayers) Implementation vide GSP – End to End Analysis, How to deal with Recent Changes in GST Return, Preparation for Departmental GST Audit, How to Handle Risky Exporters & GST Litigations. from TaxGuru https://ift.tt/3lCbgkK via gqrds

Place of Supply under GST – Online/Virtual Coaching Classes

In the past few months, the online/virtual coaching segment has boomed due to the shift in the social/educational environment imposed by the covid-19 pandemic. This change in social/educational environment necessitated every training/coaching service provider to shift from conventional physical class rooms to online/virtual class rooms to adapt with the needs of the industry. These online/virtual […] from TaxGuru https://ift.tt/2UK3KZ9 via gqrds

Salient features of Quarterly Return filing & Monthly Payment of Taxes (QRMP) Scheme

Who can opt for the scheme: Following registered person (hereinafter RP) can file quarterly returns and pay tax on monthly basis w.e.f. 01.01.2021 : An RP who is required to file Form GSTR 3B with AATO of up to Rs 5 Cr. in the previous financial year is eligible. If AATO crosses Rs 5 Cr. during a qtr., RP will become in-eligible for the Scheme from next quarter. from TaxGuru https://ift.tt/335PfUi via gqrds

One arrested for availing ITC of Rs. 3.51 Crore on fake invoices

On the basis of specific information regarding availment of ITC on fake invoices, searches were conducted on 19.11.2020 by the officers of DGGI, Nagpur Zonal Unit at the premises of a Nagpur based trading firm dealing in Paint, Cement and Iron & Steel products. from TaxGuru https://ift.tt/35PN5tG via gqrds

HC allows filing of GST returns without paying entire admitted tax: Allows payment in Installment

Pazhodiyum Food Ventures Vs Supritendent Commercial Taxes (Kerala High Court) The petitioner is a private limited company registered as a service provider under the Goods and Service Tax Act. In the Writ Petition it is the case of the petitioner that while he intends to pay the arrears of tax due for the assessment year […] from TaxGuru https://ift.tt/2IMk0GZ via gqrds

Court grants Bail to person alleged of taking Fake ITC Credit

No doubt, economic offences should be dealt with sternly, however mere allegations of economic offence does not dis-entitled any person from seeking personal liberty unless there are overwhelming material against such person. In the present case, no money trail has been brought on record which shows that accused Ashish Aggawal is the ultimate beneficiary of alleged fake ITC credits. from TaxGuru https://ift.tt/3nBmMgW via gqrds

Passing ITC without Actual Payment of GST- Bail Application of accused Rejected

Directorate General of Goods & Services Tax Intelligence & Ors. Vs Rakesh Kumar Goyal (Patiala House Court) The petition is filed to seek bail to the accused for passing ITC without any actual payment of GST. Patiala House Court states that, this bail application is strongly opposed by respondents on the ground that the offense […] from TaxGuru https://ift.tt/3lPIDke via gqrds

HC rejects excise duty claim under Section 11B of Chennai Petroleum

Chennai Petroleum Corporation Ltd. Vs Commissioner of GST & Central Excise (Madras High Court) (a) The scheme of the Act contained in Section 11B of the Act read with other relevant provisions of the Central Excise Act as it then prevailed before the introduction of GST regime with effect from 1 July 2017, with regard […] from TaxGuru https://ift.tt/3pM8fkp via gqrds

GSTN issued Advisory on E-Invoicing

The Goods and Service Tax Network (GSTN) had issued the updates on e-invoicing. E-Invoicing is basically a standard format of the invoice suggested by the GSTN for the GST registered suppliers. E-Invoicing includes that the businesses would generate the invoice at their system and report it to e-invoice portal (also recognized as Invoice Registration Portal or IRP) where a few checks shall be carried out and […] from TaxGuru https://ift.tt/333LA9w via gqrds

Gujarat HC Denies Integrated GST Rebate to Advance Authorization License Holders – Is It Fair?

CA Navjot Singh Cosmo Films India Vs Union of India & Ors. (Gujarat High Court) Holders of advance authorization licenses were entitled to import raw materials without payment of integrated GST and rebate of IGST. The government changed the rules in September 2018 – retrospectively from July 2017 – prohibiting the entitlement if benefits of […] from TaxGuru https://ift.tt/3pMbLLx via gqrds

New GST Return Regime- Seems good but falling short of expectations

With effect from 01st January, 2021 the new GST returns regime will be rolled out. Pursuant to the central government’s constant jostling with adverse, trying and demanding economic situations, an effort is being made to provide the small taxpayers some breathing space and easing the compliance burden, quarterly GSTR-3B filing is being implemented from 1st […] from TaxGuru https://ift.tt/3ffj7T5 via gqrds

HC Rejects proposed amendment in writ by Sun Pharma seeking Refund of Full CGST & 50% of IGST

Sun Pharma Laboratories Limited Vs Union of India and Others (Sikkim High Court) The instant petition is filed to seek the refund of full Central Goods and Service Tax (CGST) and 50% of Integrated Goods and Service Tax (IGST) paid through the electronic cash ledger. Petitioner seeks to challenge the vires of Section 174(2)(c) of […] from TaxGuru https://ift.tt/3lOMnCr via gqrds

Tax, Interest, or Penalty under GST cannot be imposed without giving opportunity of being heard to Assessee

The issue under consideration is whether Commercial Tax Officer is correct in initiating proceedings under section 129 for detaining vehicles, imposing tax, penalty, and interest? from TaxGuru https://ift.tt/2UIV19M via gqrds

Detention of goods & vehicle under GST: HC explains Provisions of Section 129 & 130

Gokul P.G. Vs State of Kerala (High Court of Kerala at Ernakulam) Sections 129 and 130 are independent provisions, and that, while a detention of goods and vehicle under Section 129 could entail proceedings under Section 130, in situations where the detained goods/vehicle are not cleared by the owners thereof within a period of 14 […] from TaxGuru https://ift.tt/38Zwsh2 via gqrds

DGGI arrests Nashik builder for availing fraudulent ITC under GST

The officials of DGGI, Nashik Regional Unit of DGGI, Nagpur Zonal Unit arrested a prominent builder of Nashik in an ongoing investigation regarding availment of fraudulent Input Tax Credit on fake invoices. from TaxGuru https://ift.tt/32VQg0T via gqrds

Municipal tax levied on advertisement hoardings in private properties post GST Implementation is valid: HC

Selvel Media Services Private Ltd. Vs Municipal of the City of Ahmadabad (Gujarat High Court) Issues- By this petition under the Articles 226 and 227 of the Constitution of India, the petitioner has challenged the Resolution no.928 dated 28th November 2018 and the Resolution dated 24th December 2018 passed by the Standing Committee of the […] from TaxGuru https://ift.tt/331K3Rd via gqrds

Compensation for Quarantine Centers – GST implications

The Central and State Governments have been continuously taking preventive measures in its mission to contain the spread of novel Corona Virus (COVID-19). Several important measures have been adopted to fight with COVID-19 and self-quarantine appeared to be one of the best solutions among others. In its endeavor to save its citizens from getting infected, […] from TaxGuru https://ift.tt/2IUud3v via gqrds

Common errors while reporting GST e-invoices to IRP

Article explains Common errors while reporting invoices to IRP and resolution for the same. It also contains Error Code, Error Message & Reason for Error. Error Code Error Message Reason for Error Resolution 2150 Duplicate IRN Attempting to register a document again which is already registered and IRN is generated. Don’t fire the same request […] from TaxGuru https://ift.tt/35MH3tX via gqrds

Detailed information on GST e-invoice help options

e-Invoice Support To report any issues or for support on integration of E Invoice system, following options are available. 1. Through self-service system at : https://ift.tt/2BeY7WR 2. Through toll free number : 1800-103-4786 Before reporting the issue, users are encouraged to go through the following web sites to acquaint themselves with all the related and […] from TaxGuru https://ift.tt/2UGdmUT via gqrds

FAQs GST e-invoice/IRN System

A. E-invoice – Basics: Q. 1. What is ‘e-invoicing’? As per Rule 48(4) of CGST Rules, notified class of registered persons have to prepare invoice by uploading specified particulars of invoice (in FORM GST INV-01) on Invoice Registration Portal (IRP) and obtain an Invoice Reference Number (IRN). After following above ‘e-invoicing’ process, the invoice copy […] from TaxGuru https://ift.tt/3ff4XkX via gqrds

APIs/Testing/Sandbox – GST e-invoice- FAQs

E-Invoice System Q.1 Who can generate the IRN from the e-invoice system? Presently, IRN can be generated only by the tax payers who have been notified. That is, tax payers whose turnover is more than Rs. 500 Crores. Q.2 How many rounds of testing of APIs have to be made on the sandbox system to […] from TaxGuru https://ift.tt/3kI1fRL via gqrds

Registration and login on GST e-invoice portal: FAQs

GENERAL Q.1 What are the methods/modes of e-invoice generation? There are two modes/methods of e-invoice generation. First one is using the offline/excel tool Second one is using the API mode – directly or through GSPs. Q.2 What are the access mechanism for the e-invoicing system? There are two access mechanism for e-invoicing system. Web based […] from TaxGuru https://ift.tt/374IjYT via gqrds

ITC disallowance to buyer for seller’s default to pay taxes ‘unsustainable’

Input Tax Credit (ITC) restriction in the hands of buyer, on the ground of tax collected but remaining unpaid to the Government by the seller cannot be sustained and requires re-consideration. from TaxGuru https://ift.tt/2IScycK via gqrds

Reforms Needed To Expand Tax Net

Tax-to-GDP ratio represents the size of a country’s tax kitty relative to its GDP. It indicates the size of the government’s tax revenue expressed as a percentage of the GDP. A higher tax to GDP ratio means that the government is able to cast its fiscal net wide. It reduces a government’s dependence on borrowings […] from TaxGuru https://ift.tt/2UHGXxm via gqrds

Updates on e-invoicing under GST WEF 01.10.2021

From 1-1-2021, Government has mandated e-invoicing for the taxpayers with aggregate turnover exceeding Rs. 100 Cr. (in any preceding financial year from 2017-18 onwards). 1. Certain set of taxpayers had started e-invoicing from 1st October, 2020. In the month of October, 2020, about 4.95 Crore invoices were generated by 27400 GSTINs. 2. The list of […] from TaxGuru https://ift.tt/36MAR4d via gqrds

DGGI busted Inter State Fake Invoice racket

Inter State Fake Invoice racket with fake transactions valued at over Rs. 131 Crore value busted by DGGI involving fraudulent Input Tax credit of Rs. 26.09 Crore from TaxGuru https://ift.tt/3lLz06a via gqrds

Join Online GST, Customs, FTP & Income Tax Courses

Join Professional Development & Certification Courses on Customs & FTP and Income Tax by TaxGuru Edu. TaxGuru Edu, an educational wing of TaxGuru, announces Online Professional Development Courses on GST, Customs & FTP and Income Tax to help you in learning them in a practical way. Course 1 – Professional Development Course on GST The […] from TaxGuru https://ift.tt/2IOHtXo via gqrds

Faulty Definition of Intra-State Supply for Levy of GST by States

The recommendation of the Goods and Services Tax Council (GST Council) made to States provides that States shall levy State Goods and Services Tax on ‘intra-State supply’ as defined in section 8 of the Integrated Goods and Services Tax Act, 2017.  In my personal opinion, such recommendation is not in conformity of scheme of levy […] from TaxGuru https://ift.tt/36Eje6w via gqrds

Webcast on GST Return, Departmental Audit, Risky Exporters & Litigation

Webcast on How to deal with Recent Changes in GST Return, Preparation for Departmental GST Audit, How to Handle Risky Exporters & GST Litigations Date: 27th November 2020 (Time: 5 p.m. to 6:30 p.m.) Tax Guru in association with Tax Connect is Organizing a 1.5 Hour Workshop for discussions on ” How to deal with […] from TaxGuru https://ift.tt/3lCbgkK via gqrds

GST- Quarterly Return & Monthly Payment Scheme (QRPS)

The GST Council in their 42nd Meet on 5th October 2020 proposed a quarterly return filing system for small taxpayers having aggregate turnover up to Rs 5 crores with effect from 1st January, 2021. Central Board of Indirect Taxes and Customs (CBIC) has issued Circular No. 143/13/2020- GST on 10th November 2020, outlining guidelines and […] from TaxGuru https://ift.tt/3kHaHVJ via gqrds

11 Important FAQs on Quarterly GST Return & Monthly Payment

11 Important FAQs of Quarterly Return and Monthly Payment (‘QRMP’) Scheme w.e.f 1st January, 2021 With the coming of 1st day of any new month or the 1st day of the new quarter, GST Council is ready to come out with certain new changes. Whether it is 1st October 2019 (Changes in Section 36(4) , […] from TaxGuru https://ift.tt/35DYk8o via gqrds

Showing GSTR-3B Turnover In 26AS – An Opinion

Recently, one of the major changes implemented in the Income Tax system. Now in Form 26AS, the Turnover as per GSTR -3B will be reported. Now, let’s discuss the implication of the same by going through some logical sequence. JOURNEY OF GSTR – 3B Originally, GSTR -3B was introduced as temporary replacement of GSTR – […] from TaxGuru https://ift.tt/35F9iKK via gqrds

GST Council Law Committee to meet & discuss fake invoices on Nov 18

An urgent meeting of the Law Committee of the Goods and Service Tax (GST) Council has been convened tomorrow in New Delhi to discuss in detail the issue of fake invoices to claim input tax credit under the indirect tax regime. The meet will deliberate on ways of further tightening of the GST registration process […] from TaxGuru https://ift.tt/2IPjM17 via gqrds

Telangana opts Option-1 to meet GST implementation shortfall

The Government of Telangana has communicated its acceptance for Option-1 out of the two options suggested by the Ministry of Finance to meet the shortfall in revenue arising out of GST implementation.  The State has now joined 22 other States and 3 Union Territories (Delhi, Jammu & Kashmir and Puducherry) who have opted for Option-1.  from TaxGuru https://ift.tt/3kJL6LA via gqrds

350 cases registered against fake GST invoice fraudsters

Last week saw a drive launched against the entire network of GST evaders including a few tax professionals. It includes all those who have been creating, supporting, servicing and advising fraudsters in setting up a web of fake companies to engage in bogus circular trading. Passing on ITC in contravention of law results in harming businesses. from TaxGuru https://ift.tt/2IIId0I via gqrds

Supply of service by IZ Kartex to BCCL qualifies as import of service

In re IZ Kartex (GST AAAR West Bengal) From the facts of the case, it is seen that the IZ-Kartex named after Korobkov, the Russian company has entered into the MARC with BCCL. They have deployed DDP-N, an Indian company as the subcontractor. DDP-N in turn, issues invoice to the Russian company. Again, the Russian […] from TaxGuru https://ift.tt/3pDz4XO via gqrds

Guns N Roses – Digital Synchronisation Income Tax vis-a-vis GST

Dear All, Happy to present before all of you my another article on Guns N Roses – Digital Synchronisation Income Tax vis-a-vis GST 👆. This article has penned after the reporting of GSTR 3B data started in Form 26AS of the Assessee on 12th November 2020. Article briefly discusses what needs to be done in […] from TaxGuru https://ift.tt/2H7aH3k via gqrds

GST Taxability of Food & Accommodation Services for Coaching Services

In one of the recent Advance Rulings, the Authority for Advance Rulings, Andhra Pradesh, has opined that GST will be levied on supply of food and accommodation services for coaching services and no exemption is available to such services. [In Re: Master Minds (2020) 7 TMI 348; (2020) 117 taxmann.com 824 (AAR, Andhra Pradesh)]. In […] from TaxGuru https://ift.tt/2K8R0t6 via gqrds

Consequences for Not Displaying GSTIN on Board

You have set up your office in Maharashtra and you are not displaying your GST number on your board outside your office? Then be aware because you might get penalty notice from the department if anyone complaints against you. You are thinking why? In this article we are answering the most important but ignorant question […] from TaxGuru https://ift.tt/36IpfPF via gqrds

Commissioner can authorize ‘arrest’ prior to completion of adjudication/assessment

The Hon’ble HC, Gujarat in Vimal Yashwant Giri Goswami & Others v. State of Gujarat [R/SLP No. 13679/2019 dated 20.10.2020] held that the power to arrest as provided under Section 69 read with Section 132 of Central Goods and Services Tax Act, 2017 (CGST Act) can be invoked by Commissioner prior to the completion of […] from TaxGuru https://ift.tt/3pE2Qf1 via gqrds

Representation on deficiency in functioning of GST Portal

It has been more than 3 years that GST has been implemented and it has been a system driven legislature. The GST portal is the back bone of functioning of GST and to make GST law a success a robust GST portal and infrastructure should be in place. However, the GST portal has been disappointing in last 3 years with respect to its performance; we would like to draw your kind attention to the following: from TaxGuru https://ift.tt/3pA7quT via gqrds

E-Way Bill generation blocking after 01.12.2020 applies to all

Update on Blocking of E-Way Bill (EWB) generation facility, after 1st December, 2020 1. In terms of Rule 138E (a) and (b) of the CGST Rules, 2017, the E-Way Bill (EWB) generation facility of a taxpayer is liable to be restricted, in case the taxpayer fails to file their FORM GSTR-3B returns / Statement in […] from TaxGuru https://ift.tt/32Tp0jJ via gqrds

HC Grants Bail to Person Alleged of Economic Offence under GST

The instant petition is filed to seek bail against the offences alleged against petitioner which are punishable under Sections 132(1)(b) and 132(1)(l) of the Central Goods and Services Tax Act, 2017. from TaxGuru https://ift.tt/3lC14cc via gqrds

Analysis of Provisions of Rectification of Error under GST

Under GST act various provisions has been made such as, levy and collection of tax, registration, returns, Input Tax Credit, payment of tax, refund, assessment, audits, determination of tax liability, demand and recovery, appeal etc. Accordingly, appropriate proceedings are initiated by the proper officers either on his own motion or on application of registered person, […] from TaxGuru https://ift.tt/35CECKo via gqrds

Corrigendum to Notification No. 86/2020–Central Tax

CBIC issues CORRIGENDUM to Notification No. 86/2020–Central Tax [G.S.R. 702(E)] which related to rescinding of notification by which Due dates of GST were notified earlier. Vide CORRIGENDUM CBIC has corrected the use of word to “Central Government” instead of “Commissioner”. at one place in Notification No. 86/2020–Central Tax. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL […] from TaxGuru https://ift.tt/2IItliK via gqrds

Corrigendum to Notification No. 82/2020–Central Tax

CBIC issues CORRIGENDUM to Notification No. 82/2020–Central Tax [G.S.R. 698(E)] which relates to New rules for Inward/Outward Supplies, GST Returns & New form GSTR 2B. Vide CORRIGENDUM CBIC has corrected the wrong reference to notification No. 72/2020-Central Tax, dated the 30th September, 2020 instead of notification No. 79/2020-Central Tax, dated the 15th October, 2020. MINISTRY […] from TaxGuru https://ift.tt/2IItl2e via gqrds

GST: Quarterly Return Monthly Payment Scheme with Examples

Understanding the New GST Diwali Bonanza-Quarterly Return Monthly Payment (QRMP) Scheme with Practical Illustrations The Goods & Service Tax (GST), inspite of its PAN India roll-out as ‘One Nation One Tax’, w.e.f. 1.7.2017, has been looked upon with some reservations and apprehensions by the small and middle level businesses and traders on account of its […] from TaxGuru https://ift.tt/35Bo05L via gqrds

Decoding Section 16(4) – ITC under GST– From Naked Perspective

In the recent times, the CGST Department has been aggressively issuing notices and advisory related to section 16(4) for late filing of GSTR 3B upto the March month of FY 2018-19, after due date of GSTR 3B of September Month. The Notice and advisory sent by the department is related to Reversing the ITC claimed […] from TaxGuru https://ift.tt/35wLQ2s via gqrds

One held for fraudulently passing ITC of Rs 13.08 crore

DGGI, Rohtak Regional Unit, has arrested one person namely, Sh. Satinder Kumar Singla, of Hisar who was found involved in issuing fake invoices from various firms without actual movement of goods having taxable value of Rs. 75 crore (approx.) and fraudulently passing ITC amounting to Rs. 13.08 crore. from TaxGuru https://ift.tt/3f4E436 via gqrds

GST Return Filling System (version 3.0) From 01-01-2021

FROM 01-01-2021 , GST RETURN FILING SYSTEM will see complete change. (We call it version 3.0) . Intention to Overhaul GST return filing system, But is it the correct solution in reality??? We will find out that in future . FYI, NOTIFICATION 82 TO 85 to notify / amend rule 60/61/62/61A. Also Circular No. 143/13/2020 […] from TaxGuru https://ift.tt/38HfEve via gqrds

Forthcoming amendments in GST returns – Part 2 of 2

In the previous part of this article, we had discussed the updates pertaining to GSTR-3B and R-1. To read the same, kindly refer to the link – (https://ift.tt/2UA6isJ) In this article, we would be discussing the important aspects to be considered by the taxpayers due to the implementation of Form GSTR-2B w.e.f. 01st January 2021. […] from TaxGuru https://ift.tt/2IBl93O via gqrds

Forthcoming amendments in GST returns – Part 1 of 2

Recent notifications from CBIC dated 10th November 2020 tend to implement several amendments pertaining to returns to be filed by the registered persons. Being most of the taxpayers are choked with GST – annual returns, ITR filing, day-to-day business chores, etc. This article summarizes the amendments notified in a lucid way. For the better purpose […] from TaxGuru https://ift.tt/2UA6isJ via gqrds

MSMEs to implement IT infrastructure to support electronic invoices in 50 days

The Government recently had stated that e-invoicing or electronic invoicing in s going to be mandatory for any business that has a turnover of above Rs 100 crore. The limit was Rs 500 crore according to the previous regulations. The small businesses previously who were not required to bother regarding e-invoicing under the Goods and Services […] from TaxGuru https://ift.tt/3lyBPHC via gqrds

Mismatch in GSTR-1 & GSTR-3B is not Conclusive for Suppression of Tax

It is held by Appellate Authority – GST, ANDHRA PRADESH in case of Sri Kali Krishna Industries Vs Assessing Authority AP that mere mismatch in GST 3B & GSTR 1 is not conclusive for any suppression of tax. The contentions submitted by the taxpayer need to be examined before issuing an order. Brief Fact of […] from TaxGuru https://ift.tt/3kwXoqJ via gqrds

Practical Problems in Two Wheeler Industry in India

Looking at the present GST  Collections, I personally doubt if there can be a rejig in the GST Rates on two wheelers because this is one main source of income which the GOI cannot ignore. It will continue to be taxed in the 28 % Slab. from TaxGuru https://ift.tt/38EtVsC via gqrds

Input tax credit denial merely on technical grounds not justified

Heritage Lifestyles and Developers And Pvt. Ltd. Vs. Union of India (Bombay High Court) This is a case, where admittedly Petitioner could not file GST TRAN-1 on or before 27.12.2017 but had manually applied for GST TRAN-1 on 7.5.2018 as per Circular dated 03.04.2018 within the timeline as per the date extended by this Court. […] from TaxGuru https://ift.tt/2IzAthh via gqrds

Section 87(b)(i) not makes directors of Company, Vicariously or Jointly Liable for Dues of Company

Sanjiv Kumar Mittal Vs Deputy Commissioner (TRC), CGST Commissionerate Delhi South & Ors. (Delhi High Court) SECTION 87(b)(i) OF THE FINANCE ACT PROVIDES FOR A  GARNISHEE ORDER ONLY – i.e. PROVIDES FOR ATTACHMENT OF FUNDS OF AN ASSESSEE LYING WITH THIRD PARTIES. THERE IS NO PROVISION IN THE FINANCE ACT MAKING AN EX-DIRECTOR, EVEN IF […] from TaxGuru https://ift.tt/2UpLnZk via gqrds

Anti-profiteering Penalty Provision not in existence till 31.12.2019: NAA

Deepak Kumar Khurana Vs Sattva Developers Pvt. Ltd. (NAA) Section 112 of the Finance Act, 2019 specific penalty provisions have been added for violation of the provisions of Section 171 (1) which have come in to force w.e.f. 01.01.2020, by inserting Section 171(3A). Since no penalty provisions were in existence between the period w.e.f. 01.07.2017 […] from TaxGuru https://ift.tt/2IAs1P4 via gqrds

AAAR cannot answer on correctness of GST liability based on illustrative invoices

In re Apsara Co-operative Housing Society Ltd. (GST AAAR Maharashtra) The Maharasthra Appellate Authority for Advance Ruling upheld the Ruling passed by the Maharashtra Advance Ruling Authority, vide their Order No. GST-ARA-21/2019-20/B-34 dated 17.03.2020 and stated that the activities carried out by the Appellant would amount to supply in terms of Section 7(1)(a) of the […] from TaxGuru https://ift.tt/2IFXYW0 via gqrds

Release Detained Vehicle & Goods After Obtaining Bond: Gujarat HC

The instant petition is filed to seek to release of the detained goods and vehicles under Section 129(1) of the CGST Act. The court directed the respondent authority to release the vehicle and the goods after obtaining a bond of Rs.11,73,480 from the writ applicant. from TaxGuru https://ift.tt/3kyNqF8 via gqrds

SCN for Confiscation of Goods or Conveyance on Mere Suspicion Not Justified

The issue under consideration is whether show cause notice for confiscation of goods or conveyance is justified to issue on mere suspension under GST Act? from TaxGuru https://ift.tt/3eWXRRI via gqrds

New GST Return Scheme for Small Taxpayers

The Central Government is looking to overhaul the return filing system with a view to provide some relief to taxpayers with aggregate turnover under GST less than Rs. 5 crores. In this regard, it has released certain notifications to lay down a new scheme of return filing for such taxpayers. We have tried to summarise […] from TaxGuru https://ift.tt/3lIeHGs via gqrds

HC Grants Bail to Person Alleged of Economic Offence under GST

The instant petition is filed to seek bail against the offences alleged against petitioner which are punishable under Sections 132(1)(b) and 132(1)(l) of the Central Goods and Services Tax Act, 2017. from TaxGuru https://ift.tt/3lC14cc via gqrds

E-invoicing and its applicability with illustration

What is e-invoicing under GST? e-invoicing refers as per Rule 48(4) of CGST Rules, notified class of registered persons have to prepare invoice by uploading specified particulars of invoice (in FORM GST INV-01) on Invoice Registration Portal (IRP) and obtain an Invoice Reference Number (IRN) Notified persons: A registered person, other than an SEZ unit*, […] from TaxGuru https://ift.tt/35znbKN via gqrds

Auto-population of e-invoice details into GSTR-1

1. Certain notified taxpayers have to prepare and issue their invoices by obtaining Invoice Reference Number (IRN) from Invoice Registration Portal (IRP) (commonly referred as ‘e-invoices’). 2. Upon successful generation of IRN, details of such e-invoices will be auto-populated in respective tables of GSTR-1. The details of e-invoices available for auto-population along with status of […] from TaxGuru https://ift.tt/3nnCn3r via gqrds

‘Noticing Conveyance at Wrong Destination Without Anything More Can’t Said to be a Contravention of CGST Act

The issue under consideration is whether ‘Noticing the conveyance at a wrong destination’ without anything more can be said to be a contravention of the CGST Act? from TaxGuru https://ift.tt/38FSuW7 via gqrds

GST updates and Compliances – November 2020

1. GST PORTAL UPDATES 1.1. Taxpayers can now see aggregate turnover of preceding financial year on GSTN portal Now Annual aggregate turnover of preceding financial year can be checked from the GSTN portal. The Goods and Service Tax Network (GSTN), recently launched many new features on the GSTN portal. One of its features is that […] from TaxGuru https://ift.tt/38CtdvO via gqrds

DGGI, Mumbai, arrests 2 persons in fictitious ITC case

Mumbai Zonal Unit of the Directorate General of GST Intelligence, CBIC has arrested Mr. Sunil Ratnakar Gutte, Director of M/s. Sunil Hitech Engineering Ltd., on charges of having fraudulently availed, utilized, as well as passed on fictitious Input Tax Credit, today, 12th November 2020. from TaxGuru https://ift.tt/32BQyKp via gqrds

Firm busted for availing benefit from bogus invoices of around Rs 685 crore

On the basis of specific intelligence as well as further data mining/analysis on GSTN and E way bill portals, the officers of CGST Delhi South Commissionerate, have busted a syndicate of firms involved in availing invoices/E-way bills issued on the GSTIN of fake/dummy firms and getting Refund of IGST on the strength of such fake Invoices. from TaxGuru https://ift.tt/36sl6zs via gqrds

Quarterly Return Monthly Payment (QRMP ) Scheme under GST

1. Quarterly Return Monthly Payment Scheme (QRMP) is a scheme notified by the Government allowing a registered person having aggregate turnover up to five (5) crore rupees to furnish return on a quarterly basis along with monthly payment of tax. CBIC vide circular no. 20/01/08/2020- GST dated 10 November 2020 clarified various issues related to […] from TaxGuru https://ift.tt/32CSaUl via gqrds

GST: Non-Registration of Consignor can’t be ground for detention

The issue under consideration is whether non-registration of the consignor or the alleged mis-classification of the goods under transportation can be a ground for detention under Section 129 of the GST Act? from TaxGuru https://ift.tt/36ssdrF via gqrds

Introduction of quarterly returns & CGST Amendment Rules

The Central Board of Indirect Taxes and Customs (CBIC) has issued several Notifications on 10th November, 2020 for the below matters: 1. Introduction of Thirteenth amendment (2020) to the CGST Rules, 2017 for notification of due dates for returns 2. Granting extension of the due date for Form GST ITC 04 and notification of due […] from TaxGuru https://ift.tt/2JV5WuJ via gqrds

Auto-populated Form GSTR 3B (PDF) from October 2020 onwards

Auto-populated Form GSTR 3B (PDF) for the taxpayers, from the month of October 2020 onwards 1. GSTN has earlier introduced Form GSTR-2B, a static statement with details of ITC available for a tax period, for the benefit of taxpayers. GSTR-2B is an auto-drafted Input Tax Credit (ITC) statement generated for every recipient, on the basis […] from TaxGuru https://ift.tt/2UlpyKI via gqrds

Goods & Vehicle cannot be ordered to release as confiscation proceedings is pending: HC

Rajesh Kiran D Vs. Joint Commissioner Of State Tax (Gujarat High Court) The matter, as on date, is at the stage of Form GST MOV-10. Thus, the writ applicant has been called upon to show-cause as to why the goods and the vehicle should not be confiscated under Section 130 of the Act. The writ […] from TaxGuru https://ift.tt/2UifiD1 via gqrds

DGGI Mumbai arrests 4 for passing on & availing fictitious ITC

Four persons have been arrested by the Mumbai Zonal Unit of Directorate General of GST Intelligence (DGGI-MZU), under CBIC, on Tuesday (November 10, 2020). from TaxGuru https://ift.tt/2UjCAs2 via gqrds

“Lock Stock and Barrel – of Debit & Credit Notes with Tax Invoices under GST -Parable of Not a Penny More and Not a Penny Less”

In this article, an attempt has been made to correlate two popular maxims - lock stock and barrel meaning entirely, from top to bottom with that of Not A Penny More and Not A Penny Less in the context of Debit and Credit Notes with Tax Invoices under the provisions of GST Act, 2017 from TaxGuru https://ift.tt/3pg09jD via gqrds

GIST of GST notifications issued on 10.11.2020

CBIC has issued various notifications yesterday i.e on 10th Nov, 2020 amending various rules in respect of return filing. A summary of the same is as below: ♦ Notification No. 82/2020 – Central Tax Central Goods and Services Tax (Thirteenth Amendment) Rules, 2020 have been notified. Highlights of the same are: e.f. 01.01.2021, an option […] from TaxGuru https://ift.tt/3kj4tLl via gqrds

Provisions relating to Quarterly Return Monthly Payment Scheme

Government has issued following notifications to implement the Scheme of quarterly return filing along with monthly payment of taxes from TaxGuru https://ift.tt/38vPJqc via gqrds

NAA directs reinvestigation as it found profiteered amount computed as incorrect

Rahul Sharma Vs Mataji Paints and Hardware (NAA) Facts of the Case: The brief facts of the case are that an un­dated application was filed before the Standing Committee on Anti-profiteering, under Rule 128 of the Central Goods and Services Tax (CGST) Rules, 2017 by the Applicant No. 1 alleging profiteering by the Respondent. The […] from TaxGuru https://ift.tt/35h9zDI via gqrds

NAA directs DGAP to Re-Investigate as Mathematical Methodology Adopted by DGAP was Not Logical

Joydeep Sarkar Vs Himalaya Drug Company (NAA) Fact of the Case: The brief facts of the case are that under Rule 128 (1) of the Central Goods and Services Tax (CGST) Rules, 2017 an application dated 27.11.2017 was filed before the Standing Committee on Anti-profiteering by the Applicant No. 1 alleging that the Respondent had […] from TaxGuru https://ift.tt/2GPIzlj via gqrds

NAA directed Re-Investigation & Re-Computation of Profiteered Amount for Lifestyle International

Director-General of Anti-Profiteering Vs Lifestyle International Pvt. Ltd. (NAA) Facts of the case: The brief facts of the case are that an application dated 23.11.2017 was filed before the Standing Committee on Anti-profiteering under Rule 128 of the CGST Rules, 2017, by Ms. Neeru Varshney before the Standing Committee vide which she alleged that the […] from TaxGuru https://ift.tt/2GO36GL via gqrds

GST Form-2B – Auto-drafted ITC

CBIC has inserted new FORM-2B – Auto-drafted ITC Statement- under  60(7) vide Notification No. 82/2020–Central Tax dated 10th November, 2020. Please find bellow the format of New Form-2B  – Auto-drafted ITC Statement, Advisory and Instruction for filing of the same. 1. Terms Used :- a. ITC – Input tax credit b. B2B – Business to […] from TaxGuru https://ift.tt/2It9wvj via gqrds

CBIC notifies New rules for Inward/Outward Supplies, GST Returns & New form GSTR 2B

CBIC has vide Notification No. 82/2020–Central Tax dated 10th November, 2020 amended/substituted and inserted GST Rules as follows:- 1. Substituted rule 59 related to Form and manner of furnishing details of outward supplies with effect from the 1st day of January, 2021 2. Substituted rule 60 related to Form and manner of ascertaining details of […] from TaxGuru https://ift.tt/3koDOwx via gqrds

CBIC Issues 8 GST notifications on 10th November 2020

CBIC Issues Notification No. 81/2020–Central Tax to Notification No. 88/2020–Central Tax on 10th November 2020 related to GSTR 1, FORM GSTR-2B, GST E-Invoicing, Form GST ITC-04 (Job worker return). Vide these notifications CBIC has notified extended due date of GSTR 1, FORM GSTR-2B, GST E-Invoicing, Form GST ITC-04 and also notified procedure for opting Quarterly […] from TaxGuru https://ift.tt/3pfknKp via gqrds