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Showing posts from January, 2021

Non Woven Bags manufactured through intermediate product Non Woven fabric classifiable under Heading No. 5603

In re Rotex Fabric Pvt.Ltd. (GST AAR Gujarat) Question.1 Whether the product Non Woven Bags manufactured through the intermediate product Non Woven fabric classifiable under Heading No. 5603 are properly classifiable under Heading No. 6305 or under Heading No. 3923? Ans. The product Non Woven Bags manufactured through the intermediate product Non Woven plastic material […] from TaxGuru https://ift.tt/3nKFWR2 via gqrds

Advance ruling cannot be given on Services to others by 3rd Parties

In re Posiedon Hydro Infratech (GST AAR Gujarat) On going through the question on advance ruling sought by the applicant at (1) above, we find that the same is not related to the agreement made by them with M/S. WAPCOS or the agreement made between M/s. WAPCOS and M/s. SSNNL but is related to the […] from TaxGuru https://ift.tt/38KZhxp via gqrds

No decision on AAR Application if Applicants not submit documents

In re Shree Arbuda Transport (GST AAR Gujarat) Question-1: If we want to provide all above services for a ‘Single consolidated Rate’ as a package, whether such supply would be treated as ‘Mixed supply’ as per the provisions of Section 2(74) of the CGST Act, 2017, since the services are not naturally bundled and are […] from TaxGuru https://ift.tt/3srWC3q via gqrds

Fried Fryums classifiable under HSN 21069099- Attracts 18% GST

In re Swaminarayan Foods Pvt.Ltd. (GST AAR Gujarat) Question: Whether any tax is payable in respect of sale of Fryums manufactured by the applicant? And if the answer is in the affirmative, the rate of tax thereof? Answer : The product ‘Fried Fryums’ manufactured and supplied by applicant is classifiable under Tariff Item 2106 90 […] from TaxGuru https://ift.tt/3ilGegb via gqrds

‘AAYUDH-MOSX’, is a mosquito repellent & Attracts 18% GST

In re Shukla Ashar Impex Pvt. Ltd. (GST AAR Gujarat) The product i.e. ‘AAYUDH-MOSX’, is a mosquito repellent and hence, it is classifiable under Chapter Heading No. 3808 91 91 of the Customs Tariff Act, 1985, attracting GST @18% (CGST-9%+ SGST-9%). FULL TEXT OF ORDER OF APPELLATE AUTHORITY OF ADVANCE RULING,GUJARAT  B R I E F FA […] from TaxGuru https://ift.tt/3oOc73n via gqrds

GST on Zinc /Iron Ethylenediamine Tetra Acetic Acid

In re Shivam Agro Industries (GST AAR Gujarat) Question 1: Whether the product ‘Zn EDTA’ (Zinc Ethylenediamine Tetra Acetic Acid) and ‘Fe EDTA’ (Iron Ethylenediamine Tetra Acetic Acid) Acetic Acid) being supplied by the applicant are classifiable under Chapter Heading 2833, 2921, 3105 or 3808 or any other Chapter Heading of the Customs Tariff Act, […] from TaxGuru https://ift.tt/2N8wk67 via gqrds

Un-fried FRYUMS classifiable under Tariff Item 2106 90 99

In re J K Snacks Industries (GST AAR Gujarat) Question 1: Under which Tariff Heading, the product dealt in by the applicant, i.e. PAPAD of different shapes and sizes are eligible to be classified? Answer:  The product of different shape and sizes manufactured and supplied by applicant is “un-fried FRYUMS” and not “Papad” and is […] from TaxGuru https://ift.tt/2LpOBvl via gqrds

18% GST applicable on ‘Un-fried FRYUMS’

In re J K Papad Industries (GST AAR Gujarat) Question 1: Under which Tariff Heading, the product dealt in by the applicant, i.e. PAPAD of different shapes and sizes are eligible to be classified? Answer: The product of different shape and sizes manufactured and supplied by applicant is “un-fried FRYUMS” and not “Papad” and is […] from TaxGuru https://ift.tt/2Lykim5 via gqrds

Table wise applicability of GSTR-9 for F.Y.2019-20 – GST

In terms of section 44 of the CGST Act, 2017 (hereinafter referred to as the ‘Act’) every registered person is required to file the Annual Return in Form GSTR-9, irrespective of turnover limit on or before 31st December of the following financial year. from TaxGuru https://ift.tt/3qiAvL3 via gqrds

GST: Conditions for a contract to get classified as pertaining to Railways

In re SKG-JK-NMC Associates (JV) (GST AAR Gujarat) The Contract of the applicant should satisfy the following conditions to get covered under the contract pertaining to Railways and to enjoy concessional rate of GST of 12% instead of 18% [(3(v)(a) of the Notification No.11/2017-Central Tax (Rates) dated 28.06.2017]  (i) The Contract must be a composite […] from TaxGuru https://ift.tt/3nuL8IM via gqrds

GST on Franchisee Fees & Royalty for use of trademark, brand name, IPR

In re Tea Post Private Ltd (GST AAR Gujarat) Question-1: Classification of any goods and services or both for which ‘Franchisee Fees’ and ‘Royalty’ received by the applicant under the franchisee agreement from the franchisee for the right to use its trademark, brand name and other proprietary knowledge (Intellectual Property). Answer: “Franchisee Fees” and “Royalty” […] from TaxGuru https://ift.tt/2MVheAS via gqrds

GST on Refining & testing of purity of gold from old jewellery & coins/biscuits

In re Uday Laxman Jadhav (GST AAR Gujarat) 1. Whether services of; (i) Refining of gold from old jewellery and coins/biscuits, and (ii) Conversion of old gold jewellery into coins/biscuits as per specification given by service recipient; Provided to registered person will be covered under the definition of job work under section 2 (68) of […] from TaxGuru https://ift.tt/2MKUcfN via gqrds

In re Capital Commercial Co-op. (Service) Society Limited (GST AAR Gujarat)

In re Capital Commercial Co-op. (Service) Society Limited (GST AAR Gujarat) In the instant case, we find that the applicant is a registered entity as an Association of Persons and has a legal existence separate from its members. The applicant is collecting the amounts towards “Common Maintenance Fund (Deposit)” @ Rs.250/- per square foot of […] from TaxGuru https://ift.tt/3nCEmAA via gqrds

IGST on Supply taking place beyond Customs frontiers of India

In re SPX Flow Technology (India) pvt. ltd (GST AAR Gujarat)  In view of the amendment in Schedule-III of the CGST Act, 2017, supply of goods from a place in the non-taxable territory to another place in the non- taxable territory without such goods entering into India shall be treated neither as a supply of […] from TaxGuru https://ift.tt/3ignX45 via gqrds

Analysis of Fourteenth Amendment to CGST Rule 2020

Fourteenth Amendment to CGST Rule, 2020 The CBIC has issued Notification 94/2020-Central Tax on 22.12.2020 whereby the CGST Rules, 2017 were further amended vide Fourteenth Amendment. This brings in many changes in provisions of GST Registration, Cancellation, Provisional ITC claim, GSTR-1 blocking, E-way bill validity, etc, which are briefly summarized below: Aadhaar authentication for Registration […] from TaxGuru https://ift.tt/39kASxt via gqrds

Unblocking of a-way bill & Steps for online unblocking

Unblocking of a-way bill E-way bill generation facility would be automatically unblocked on the portal when the taxpayer files GST return and the default in return filing reduces to less than two tax periods. In case, the blocked taxpayer has filed the return on the GST Common Portal, the next day morning his GSTIN is […] from TaxGuru https://ift.tt/39aNlnm via gqrds

GST Circular on IBC Code & provisions relevant to CTD

Firstly, it is to be noted that currently, only companies and LLPs (collectively referred to as the 'Corporate Debtor' or 'CDR') can be subject to the provisions of the IBC. Thus, partnership firms, proprietary concerns, individuals etc. do not fall under IBC as on date and thus such persons will not be governed by the provisions of the Code. from TaxGuru https://ift.tt/2K1l7mL via gqrds

Rule 86(B) on Input Tax Credit and Its Impact In GST

Central Government has inserted a new rule in CGST Rules, 2017, Rule 86B, providing for restrictions on use of amount available in electronic credit ledger. This rule shall be applicable from 1st January, 2020 and has an over-riding effect over other rules. It states that the registered person shall not use the amount available in […] from TaxGuru https://ift.tt/3bncKgA via gqrds

Section 83 power should not be used as a tool to harass assessee

It is submitted that for the purpose of passing an order of provisional attachment under Section 83 of the Act, the pendency of the proceedings under Section 62 or Section 63 or Section 64 or Section 67 or Section 73 or Section 74 is a must. In the absence of any such pending proceeding, there cannot be any order of provisional attachment under Section 83 of the CGST Act, 2017. from TaxGuru https://ift.tt/3olDiCA via gqrds

Who can exercise power under section 83 of CGST Act, 2017

The DB of Gujarat High Court in M/s. Valerius Industries Limited vs Union of India on 28th August, 2019 observed that it is only the opinion of the Commissioner which is condition precedent for taking action under Section 83 of the CGST Act, 2017 for provisional attachment of any property. However, any exercise of powers by any other officer (other than Commissioner) shall be in violation of the mandate of Section 83 and consequently, the provisional attachment shall be illegal. from TaxGuru https://ift.tt/3bfTOjz via gqrds

Section 171(3A) Penalty cannot be imposed prior to 01.01.2020

Kerala State Screening Committee on Anti-Profiteering Vs Dev Snacks Cheriyela (NAA) Since, no penalty provisions were in existence between the period w.e.f. 27.11.2017 to 31.12.2017 when the Respondent had violated the provisions of Section 171 (1), the penalty prescribed under Section 171(3A) can not be imposed on the Respondent retrospectively. Accordingly, the notice dated 11.03.2019 […] from TaxGuru https://ift.tt/3oik0hg via gqrds

No penalty despite Violation of section 171(1) provisions till 31.12.2019

Rahul Sharma Vs Cloudtail India Pvt. Ltd. (NAA) Since, no penalty provisions were in existence between the period w.e.f. 15.11.2017 to 31.07.2018 when the Respondent had violated the provisions of Section 171 (1), the penalty prescribed under Section 171 (3A) can not be imposed on the Respondent retrospectively. Accordingly, the notice dated 11.03.2019 issued to […] from TaxGuru https://ift.tt/3s57VP0 via gqrds

Webinar on Opportunities in Indirect Tax & Litigation Management

Dear Member, Greetings to the day! In today’s era we all are looking forward to maximize our returns, may be in the form of fees from our clients or in form of Salary & Perks from our organization. Hence, our clients are also seeking from us to get some value added services or solutions to […] from TaxGuru https://ift.tt/2JQtWQ6 via gqrds

Direct & Indirect Taxes Updates- December 2020

DIRECT TAXES UPDATES Recent circulars/notifications/rules/clarifications/News  – Government issues a circular clarifying the requirements for opening  of Senior Citizen Savings Scheme Account (Circular  no.  File No. FS-10/17/2020-FS dated 07.12.2020)  – CBDT releases answers to FAQs on Vivad-se-Vishwas scheme (Circular No. 21/2020-Income Tax dated 04.12.2020)  – Govt further extends the dates for various compliances such Tax Audit, […] from TaxGuru https://ift.tt/3hPdagQ via gqrds

Quarterly Return Monthly Payment (QRMP) Return

From 1st January 2021, the Central Board of Indirect Taxes and Customs (CBIC) introducing QRMP scheme under GST to help small taxpayers whose turnover is less than ₹ 5 crore. The QRMP scheme allows the tax payers to file GSTR-3B on a quarterly basis and pay tax every month beginning from January-March,2021 period. from TaxGuru https://ift.tt/3oongrk via gqrds

Quarterly GST Return Monthly GST Payment Scheme

Quarterly Return filing & Monthly Payment of Taxes (QRMP) scheme is been launched by Government for small taxpayers under GST system. In thie article we will discuss the Applicability of this Scheme, Salient Features of QRMP scheme, What Registered Person means for this Scheme, When to Register or Opt for this Scheme, When to file […] from TaxGuru https://ift.tt/3rY742m via gqrds

HC directs dept to issue refund of unutilized Input Tax Credit

Vinod Oil and General Mills Vs Union of India and others (Punjab & Haryana High Court) According to the Petitioner, despite applying for refund of unutilized Input Tax Credit amounting to Rs. 14,21,479/- accumulated on account of inverted tax structure, in form RFD-01, under Section 54 (3) (b) of the Central Goods and Service Tax […] from TaxGuru https://ift.tt/35cWoDl via gqrds

No penalty under Section 122(1)(i) for violation of Anti Profiteering Provisions

Shri Surya Prakash Loonkar Vs M/s Excel Rasayan Pvt. Ltd. (NAA) From the perusal of Section 122 (1) (i) of the CGST Act, 2017, it is clear that the violation of the provisions of Section 171 (1) is not covered under Section 122 (1) (i) of the CGST Act, 2017 as it does not provide […] from TaxGuru https://ift.tt/38imQgD via gqrds

Penalty provision for violation of Section 171(1) effective from 01.01.2020

Kerala State Screening Committee on Anti-Profiteering Vs Win Win Appliances (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). 9. Since, no penalty provisions were in existence between […] from TaxGuru https://ift.tt/3olRuLH via gqrds

No Section 171(3A) penalty on Lifestyle International (Between 15.11.2017 to 31.01.2018

Neeru Varshney Vs Lifestyle International Pvt. Ltd.(NAA) It is further revealed that vide 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 […] from TaxGuru https://ift.tt/38fWQme via gqrds

GST: Section 171(3A) Penalty provisions not in existence between 15.11.2017 to 31.01.2018

Pawan Sharma C/O Kalptaru Departmental & General Stores Vs Sharma Trading Company (NAA) Since, no penalty provisions were in existence between the period w.e.f. 15.11.2017 to 31.01.2018 when the Respondent had violated the provisions of Section 171 (1), the penalty prescribed under Section 171 (3A) cannot be imposed on the Respondent retrospectively. Accordingly, the notice […] from TaxGuru https://ift.tt/3njOEFQ via gqrds

NAA withdraws Penalty Notice issued to Aster Infrahome

Santosh Kumari through Saurabh Prabhakar Vs Aster Infrahome Pvt. Ltd. (NAA) It is also revealed from the perusal of the CGST Act and the Rules framed under it that the Central Government vide Notification No. 01/2020-Central Tax dated 01.01.2020 has implemented the provisions of the Finance (No. 2) Act, 2019 from 01.01.2020 vide which sub-section 171 […] from TaxGuru https://ift.tt/38i1RKY via gqrds

AAR application rejected as question raised in application is already pending

In re Dempo Diary Industries Limited (AAR Karnataka) The applicant themselves admitted that M/s KMF hold 90% shares and hence have management / administrative control over the applicant. M/s KMF are the owners of `Nandini’ brand, against whom an offence case is pending before DGGI, Bengaluru on classification of flavoured milk. Thus it is very […] from TaxGuru https://ift.tt/2KWhPSh via gqrds

Classification of Flavored Milk : AAR rejects application U/s. 98(2)

In re Bengaluru Co-Operative Milk Union Ltd (GST AAR Karnataka) Whether the Flavored Milk is liable to be classified under HSN 0402 99 90 or under 2202 99 30 or under any other Chapter? The applicant themselves admitted that they are one of the share holders of M/s KMF, who are the owners of `Nandini’ […] from TaxGuru https://ift.tt/3pTAXix via gqrds

HC Raps Commissioner for excessive exercise of power- GST- Section 83

Because the Commissioner is conferred with the power of provisional attachment under section 83 it would not ipso-facto mean that he can straight away proceed to provisionally attach any property including bank accounts of a taxable person merely on the ground of pendency of proceedings under section 67. from TaxGuru https://ift.tt/3hQBWgv via gqrds

NAA directs DGAP to further investigate alleged Profiteering by DLF Limited

Sudhir Kumar Jain Vs DLF Limited (NAA) The Applicant No. 1 has contended that the Respondent has wrongly charged GST @18% on the PLC on the sale of flat to him after issue of Completion Certificate. In this regard, it is pertinent to mention that as per the provisions of Section 171 of the CGST […] from TaxGuru https://ift.tt/2Xi7mTq via gqrds

NAA directs DGAP to further investigate alleged Profiteering by MRF Corp.

P. V. Narayanan Vs MRF Corp. Ltd. (NAA) The DGAP vide Para 15 of his Report dated 27.02.2020 has also stated that “as per the outward sales data submitted by the Noticee, it has been observed that approximately 90 products were not sold before 27.07.2018 and accordingly they are construed as new products launched by […] from TaxGuru https://ift.tt/3pNO9oU via gqrds

DGAP to re-investigate alleged profiteering by Assotech Ltd.

Rishabh Jain Vs Assotech Ltd. (NAA) NAA held that DGAP Report dated 29.06.2020 cannot be accepted and the DGAP is directed to further investigate the matter as per the provisions of Rule 133 (4) of the above Rules on the following issues and furnish his fresh Report in terms of Rule 129 (6):- (i) On […] from TaxGuru https://ift.tt/3pUaTni via gqrds

Rule 36(4) – An additional condition to avail ITC under GST

[Ref: Notification No. 94/2020-Central Tax dated 22nd December, 2020] We all are aware that recently, in exercise of the powers conferred by Section 164 of the Central Goods and Services Tax Act, 2017 (CGST Act, 2017), the Central Government, on the recommendations of the Council, has issued a Notification No. 94/2020-Central Tax dated 22nd December, […] from TaxGuru https://ift.tt/383xzf1 via gqrds

Join Online Certification Courses on GST covering recent changes

Join Online Professional Development & Certification Courses on GST by TaxGuru Edu, an educational wing of TaxGuru to help you in learning GST in a practical way. Course will cover all the amendments made by Recent GST Notifications. All these changes are applicable from 01st January 2021 and changes are very significant one with respect […] from TaxGuru https://ift.tt/2XdSUMh via gqrds

No penalty for violation of Section 171(1) provisions before 01.01.2020

Director General of Anti-Profiteering Vs Raj & Company (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. 15.11.2017 […] from TaxGuru https://ift.tt/3rQUO3P via gqrds

Rule 86B of CGST Rules- Mysterious Puzzle

With effect from 01.01.2021 vide Notification No. 94 /2020 – Central Tax, dated 22nd December 2020 a new rule i.e., 86B is inserted to curb the ongoing fake invoices transactions. 1. Legal Provision: Notwithstanding anything contained in these rules, the registered person shall not use the amount available in the electronic credit ledger to discharge […] from TaxGuru https://ift.tt/3b8EsNL via gqrds

Contradiction of GST Rule 36(4) with Section 16

The CBIC has introduced new Rule 36(4) vide Notification No: 49/2019-CT dt: 09.10.2019 which restricts Recipients from availing Input Tax Credit (ITC) over and above the ITC available in GSTR2A (Supplier Filed Data). This Rule is somehow contradictory to the Section 16 and let us see briefly how: Rule 36 (4)  “(4) Input tax credit […] from TaxGuru https://ift.tt/3pNkzA2 via gqrds

Join Online Certification Courses on GST covering recent changes

Join Professional Development & Certification Courses on GST which will cover all the amendments made by Recent GST Notifications No. 92 to  94/2020-Central Tax. All these changes are applicable from 01st January 2021 and changes are very significant one with respect to ITC and GST Registration. TaxGuru Edu, an educational wing of TaxGuru, announces Online […] from TaxGuru https://ift.tt/2XdSUMh via gqrds

Input Tax Credit reversal on Sale of Shares/Mutual Funds

In GST regime as well as in the previous regime, ITC on exempted supply of goods or services shall be reversed and not eligible for availment. One such exempted supply is sale of shares/mutual funds. ITC reversal on such supply is discussed as below: from TaxGuru https://ift.tt/357wXTr via gqrds

Supreme Court directed for installation of CCTV Systems at investigation agencies offices & police stations

The Hon’ble Supreme Court in the case of Paramvir Singh Saini vs. Baljit Singh & Others [Special Leave Petition (Criminal) No. 3543 of 2020 dated December 2, 2020] directed installation of CCTV- Camera at investigation agencies offices and police stations. Facts: The Hon’ble SC vide Order dated April 3, 2018 in the case of Shafhi […] from TaxGuru https://ift.tt/3obuUFu via gqrds

GST refund cannot be rejected without giving opportunity of being heard

The provisions of Proviso to Rule 92[3] stipulate a right to be heard; and in the present case, this right, as accepted by the learned Additional Government Advocate, is not extended to the petitioner. Therefore, the order cannot be sustained and is required to be quashed on this short ground, and the case remanded for re- consideration. from TaxGuru https://ift.tt/2X9N2Uk via gqrds

GST Case law Update – December 2020

1. Retaining by-products/scrap by job-worker – GST applicable? The High Court of Andhra Pradesh in the case of Shirdiri Sainath Industries Vs DCST 2020-TIOL-2052-HC-AP-GST has held including the value of by-products to the milling charges and assessing tax is legally unsustainable. Fact: Rice milling done on job work bases. milling charges was per quintal basis […] from TaxGuru https://ift.tt/38ap2Xn via gqrds

Due date Extension put Taxpayers under Duckworth Lewis Situation

Arjuna, after the pleads of many taxpayers & tax associations, the tax departments extended the due dates for compliances under Income Tax & GST. However, this is the third time that the Income-tax department has extended the due date for Income tax returns & audits. Plus it is the shortest extension provided in history over time. from TaxGuru https://ift.tt/3hJmFhI via gqrds

RoDTEP the New incentive scheme for Exporters

Chartered Accountant with more than 15 years of practice. Specialized in the field  of Indirect taxation and Foreign Trade Policy. GST consultant for various companies. Assisted many Exporters in documentation and in obtaining the Export Incentive from the DGFT. RODTEP SCHEME A new scheme RoDTEP has been introduced from 1.1.2021 instead of MEIS scheme which […] from TaxGuru https://ift.tt/2JLh65M via gqrds

Quarterly Return Monthly Payment Scheme

The GST regime has been marked by continuous reforms. It is onerous on the part of the taxpayers to keep in touch with the latest developments. Here is a quick digest of QRMP scheme for your ready reference. A WHO IS ELIGIBLE FOR THE QRMP SCHEME Registered person whose AGGREGATE TURNOVER (IN PREVIOUS FY) <= […] from TaxGuru https://ift.tt/3hH3CUV via gqrds

Analysis of critical Changes in GST w.e.f. 1st January 2021

Impact Analysis & comments on critical Changes made in GST w.e.f. 1st January 2021  1. Background The year 2020 can be easily be labeled as ‘coming out of comfort zone’ year for the entire world. This year has seen series of changes in GST as well like E-Invoicing, proposed changes in GST Returns, Introduction of […] from TaxGuru https://ift.tt/3n7oWEd via gqrds

GSTR 9 & 9C – GST Audit of 2019-20

For FY 2017-18 and 2018-19, the registered person shall have an option to upload the details for the entries in Table 8A to 8D duly signed, in PDF format in FORM GSTR-9C (without the CA certification).] For FY 2019-20, it may be noted that the details from FORM GSTR-2A generated as on the 1st November, […] from TaxGuru https://ift.tt/3od8ow5 via gqrds

Due Date Compliance Calendar January 2021

Article compiles due dates of compliance related to GST, Income Tax, ESI, PF Acts which includes compliance related to GSTR-1, GSTR-3B, ITC-04, GSTR-5 & 5A, GSTR-6, GSTR-7, GSTR-8,  RFD-10, Due dates for payment of TDS/TCS, Dues date for Payment of Advance Tax, Due date for Issue of TDS/ TCS Certificates, Due date for linking of […] from TaxGuru https://ift.tt/2P2r2Fi via gqrds

GST- FOB Vs Invoice Value : The Cobra Effect

In this article, I wish to discuss one such effect when the Government issued a circular to clarify the ambiguity prevailed in determination of value of supply viz. whether FOB value or Invoice value has to be adopted as value of supply in case of Export of goods under GST regime. from TaxGuru https://ift.tt/38UWtwt via gqrds

CGST Act 2017 Updated Till 3rd January 2021- Free E-Book

In this Article Author compiled  CGST Act 2017 with all notification / Acts issued and changes which occurred till Till 3rd January 2021. Books contains all Section of CGST Act 2017 as Promulgated by President on 12.04.2017 updated with subsequent changes till 3rd January 2021. Book is Updated by By Ghanshyam Upadhyay and Praveen Upadhyay […] from TaxGuru https://ift.tt/3nd7cY2 via gqrds

GePP – GST e -Invoice Preparing and Printing Tool

National Informatics Centre (NIC) is happy to announce the release of ‘NIC-GST e-invoice Preparing and Printing’ (NIC-GePP Ver. 1.0). This is an excel based Tool to assist the tax payers, who are not having the ERP solution, to enter invoice in a user friendly form and print the e-invoice with QR code, after downloading the IRN from e-invoice portal. from TaxGuru https://ift.tt/386YtSY via gqrds

One arrested for GST evasion of around Rs 831.72 crore

The Central GST Delhi West Commissionerate has unearthed evasion of GST by way of manufacture and clandestine supply of gutkha/pan masala/tobacco products without any registration and payment of duty. On basis of the search at the premise of manufacture, it was found that illegal manufacturing of Gutkha/pan masala/tobacco product was going on, evidenced by a godown, machines, raw materials and manufactured products at the premises. Around 65 labourers were found working at the illegal factory. from TaxGuru https://ift.tt/3n81R4n via gqrds

Online Tests Scored after Human Intervention classifiable as an OIDAR Service

The Hon’ble AAAR, Karnataka, in the matter of NCS Pearson Inc., [Order No. KAR/AAAR/07/2020-21 (dated, November 13, 2020)] held that, the scoring done by the human scorer is to be regarded as being within the realm of minimum human intervention. Sets aside AAR’s findings of disqualifying classification of a Type-3 test offered by the  M/s. […] from TaxGuru https://ift.tt/3pKnJo2 via gqrds

Recent changes in GST W.E.F 01.01.2021 relating to ITC

Let’s discuss recent changes in GST with new perspective- As GST become effective from July 2017, we all are happy that there will be seamless flow of ITC and no restrictions to claim ITC but now it is not easy to claim ITC –SOUL OF GST -as we have to cross many stages to claim […] from TaxGuru https://ift.tt/3pD3V62 via gqrds

GST Compliance Calendar For The Month of January 2021

GST Compliance Calendar For The Month of January, 2021 for the period of December 2020 which explains due of following forms- GSTR-7, GSTR-8, GSTR-1, GSTR-1, GSTR-6, CMP-08, GSTR-3B, GSTR-5A, GSTR-5, GSTR-3B and GSTR-3B. DUE DATES MONTH / PERIOD FORM PARTICULARS 10.01.2021 December GSTR-7 GST TDS Deductors : For Authorities Deducting TDS 10.01.2021 December GSTR-8 GST TCS […] from TaxGuru https://ift.tt/3hDlNuH via gqrds

Rule 86A – Conditions of use of amount available in Electronic Credit Ledger

1. Changes in Rule 36(4) of CGST Rules, 2017 from 1st January, 2020- recipients can claim provisional Input Tax Credit (“ITC”) in GSTR-3B to the extent of 10% instead of earlier 20% of the total ITC available in GSTR-2B for the month; 2. Insertion of new Rule 86A providing conditions of use of amount available in electronic credit ledger. from TaxGuru https://ift.tt/3hOZF0R via gqrds

GST e-invoice system completed journey of 3 months

GST e-invoice system completed journey of 3 months; Enabled more than 37000 tax payers to generate more than 1680 Lakh Invoice Reference Numbers (IRNs). 603 Lakhs e-invoices generated in December 2020 as compared to 589 lakhs in November 2020 from TaxGuru https://ift.tt/3n33D6U via gqrds

Corporate Compliance Calendar for January 2021

CORPORATE Compliance CALENDAR  covers Compliance under Income Tax act, 1961, Compliance under Goods & Services Act, 2017, Compliance under Other Statutory Laws (PF, ESIC, Under Factories Act, 1948 and Contract Labour Regulation and Abolition Act, 1970 )  and Quarterly Compliances under SEBI (LODR) Regulations 2015. from TaxGuru https://ift.tt/2UeNOwi via gqrds

Is Anti Profiteering is Anti Business?

There is great dilemma in pricing of products so much so that for every overvaluation businesses are suspected of money laundering and for every undervaluation they are suspected of tax evasion. Adding to this is Section 171 of the CGST Act which reads as below:- 1) Any reduction in rate of tax on any supply […] from TaxGuru https://ift.tt/3olZaNS via gqrds

GST Revenue for December 2020 recorded all time high

GST Revenue collection for December 2020 recorded all time high since implementation of GST. ₹ 1,15,174 crore gross GST revenue collected in  December. Revenues for  December 2020 are 12% higher than the GST revenues in the same month last year. from TaxGuru https://ift.tt/38V7P3x via gqrds

An easy guide to QRMP Scheme

Quarterly Return Monthly Payment Scheme (QRMP Scheme) 1. What is QRMP Scheme? Currently, a registered person having aggregate turnover of up to ₹5 crores and furnishing GSTR 1 on monthly/quarterly basis, files GSTR 3B on monthly basis only. Under QRMP scheme, such registered persons shall be required to furnish GSTR 3B too on quarterly basis […] from TaxGuru https://ift.tt/389SGvS via gqrds

Highly disappointing GST Audit due date Extension

WMTPA has written a letter to FM and said that they are Highly Disappointed with GST Audit Extension Press Release dated 30th Dec 2020, when delay is due to fact that Department / GSTN was not ready upto 30th Dec 2020. Full text of their representation is as follows:- THE WESTERN MAHARASHTRA TAX PRACTITIONERS’ ASSOCIATION […] from TaxGuru https://ift.tt/2XhUQUl via gqrds

Six important changes in GST Rules w.e.f. 01.01.2021

Beginning of Year 2021 is also effecting six important changes GST Rules having a direct impact on the business. from TaxGuru https://ift.tt/3naxGte via gqrds

Changes in GST with effect from 1st January 2021

As the 2021 New Year is ushering, everyone wishes to welcome it with lots of celebrations, waving goodbye to 2020. In light of the GST investigation wing recently unearthing several cases of fake invoices and bogus firms, which also resulted in the arrest of some individuals CBIC has issued a couple of notifications amending the […] from TaxGuru https://ift.tt/382qvz8 via gqrds

My Concerns about Definitions of Inter-State & Intra-State Supply in IGST Act

My apprehension is that definitions of expressions supply of goods in the course of inter-State trade or commerce provided in sub-section (1) of section 7, and intra-State supply provided in section 8, of the Integrated Goods and Services Tax Act, 2017 (hereinafter referred to as the IGST Act) are not Constitutionally valid. In my opinion, […] from TaxGuru https://ift.tt/2XfEX0F via gqrds

GST- Concept of Seamless Flow of ITC & Contradictions

India has gone through in absolutely bad phase in the year 2020-21, not only on account of pandemics of COVID-19 but number of aspects w.r.t. business and tax compliances. At present, trade & industries and professionals are struggling to revive their business and liquidity is the only oxygen for them for survival of the business. […] from TaxGuru https://ift.tt/3b3Eo1Q via gqrds

Tax Compliance Calendar for January 2021

Article compliance dye date under Income Tax Law, GST Law and Labour Laws. Same includes due date for filing of Form GSTR-3B, GSTR-7, GSTR-8, GSTR-1, GSTR-6, GST CMP 08, GSTR-5, GSTR-5A (OIDAR Service Provider), GSTR 9, GSTR 9C, GSTR-4 and due of Furnishing Tax Audit Report for A/Y 2020-21. It further include due date of […] from TaxGuru https://ift.tt/3jk1e6R via gqrds

Extend due date of Form GSTR 9 and 9C for year 2018-19

The A.P. Tax Bar Association, Vijayawada has made a representation Representation regarding extension of date of filing Form GSTR 9 and 9C for year 2018-19 till March 2021. Full Text of their representation is as follows:- The A.P. Tax Bar Association, Vijayawada Date: 01-01-2021 To Smt. Nirmala Sitaraman, Hon’ble Finance Minister, NEW DELHI. Respected Madam, […] from TaxGuru https://ift.tt/3pH94tX via gqrds

Important Changes in GST w.e.f. January 1, 2021

Dear Reader,  We wish you and your family a very happy and a prosperous New Year 2021. May you and your family be blessed with abundance of health, wealth and prosperity now and always…!  Have a great start to a great year with prayer to the Almighty God that the pandemic Covid-19 should go away […] from TaxGuru https://ift.tt/3o3NSOg via gqrds

Rule 86B –Restriction on use of amount available in Electronic Credit Ledger

1. GST registration can be cancelled or suspended under CGST Rules, 2017 21A at the discretion of the tax officer in certain cases; 2. Changes in Rule 36(4) of CGST Rules, 2017 from 1st January, 2021- recipients can claim provisional Input Tax Credit (ITC) in GSTR-3B to the extent of 5% instead of earlier 10% of the total ITC available in GSTR-2B for the month; from TaxGuru https://ift.tt/3n6vVNE via gqrds

1 जनवरी 2021 से जीएसटी कानून में कुछ बड़े बदलाव

महान ग्रीक दार्शनिक हेराक्लिटस  का एक कथन है – ‘परिवर्तन इस दुनिया में एकमात्र स्थायी चीज है’। परिवर्तन होना तय है । भले ही यह जीवन का कोई  अप्रत्याशित मोड़ हो या ब्रह्मांड की सामान्य घटना से जुड़ा हो। जीएसटी कानून में भी हम परिवर्तन पिछले तीन वर्षो से लगातार देख रहे है। हम सब […] from TaxGuru https://ift.tt/3o4wPeV via gqrds

DGGI Gurugram arrests 3 for fraudulently claiming ITC of Rs 12.90 crore

The Directorate General of GST Intelligence (DGGI), North Zone, Gurugram has arrested three persons, namely Shri Alok Bhargava and his sons Shri Akul and Shri Atin Bhargava, owners of M/s Delhi Foils, M/s Abinox Industries and M/s Matalax Industries, Wazirpur, New Delhi. from TaxGuru https://ift.tt/3n8xGtQ via gqrds

Import of Services received from Supplier having Fixed Establishment in India is taxable under GST

What is Fixed Establishment under GST? According to Section 2(7) of IGST Act, “fixed establishment” means a place (other than the registered place of business) which is characterised by a sufficient degree of permanence and suitable structure in terms of human and technical resources to supply services or to receive and use services for its […] from TaxGuru https://ift.tt/2JFsSyA via gqrds

Refund of IGST paid on export of services: Blunder of GSTN system

1. GST law provides for the refund of IGST paid on export of services on realization of payment. The same shall be done by filing of Form-RFD-01 online on the GST portal of the claimant within the prescribed period of 2 years from the relevant date. 2. Relevant date in such case will be calculated […] from TaxGuru https://ift.tt/3n5bnW2 via gqrds

Rule 36(4) – An additional condition to avail ITC under GST

[Ref: Notification No. 94/2020-Central Tax dated 22nd December, 2020] We all are aware that recently, in exercise of the powers conferred by Section 164 of the Central Goods and Services Tax Act, 2017 (CGST Act, 2017), the Central Government, on the recommendations of the Council, has issued a Notification No. 94/2020-Central Tax dated 22nd December, […] from TaxGuru https://ift.tt/383xzf1 via gqrds