GST imp amendments proposed in Budget 2021-Brief

1.       Exporter liable for penalty equal to 500% of refund claimed if Input taken on invoice obtained by fraud, collusion, wilful misstatement

Reason for Removal of GST Audit as per Extract of GST Council Minutes pg...

Agenda Item 5A(vi): Filing of GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement) 1) A lot of negative feedback was...

BUSINESSES WITH MONTHLY TURNOVER OF OVER RS 50 LAKH TO PAY AT LEAST 1%...

Businesses with monthly turnover of over Rs 50 lakh will have to mandatorily pay at least 1 per cent of their GST...

GSTN ENABLES AUTO-POPULATED GSTR-3B RETURN FORM BEGINNING NOV

Businesses will now get complete auto-populated monthly sales return form GSTR-3B, GST Network said on Sunday. "For ease of taxpayers, now the...

TAXMAN GOES AFTER COMPANIES UNDERTAKING FRAUDS WITHIN DIFFERENT STATES

The tax department on Wednesday said that it is going after companies and scrutinising transactions between various companies within different states.

GST COMPLIANCE TIGHTENED: BUYERS FROM BIG FIRMS TO SHOW VALID E-INVOICES FOR TAX CREDIT

It has been touted as a game changer, and one of the reasons why the proposed overhaul of GST return-filing system was...

COMPOSITION TAXPAYERS WITH ‘NIL’ RETURNS CAN FILE VIA SMS: GSTN

With this, composition taxpayers can now file NIL statement in Form GST CMP-08 through SMS and without logging in to the GST...

Due Date Extension Update

Dear Members, GSTR 9, 9C date for FY 2018-19 extended to 31st December, 2020. ITR Filing...

E-INVOICING TO BE EXTENDED TO ALL FIRMS FROM APR 1 IN PHASES: FINANCE SECY

E-INVOICING TO BE EXTENDED TO ALL FIRMS FROM APR 1 IN PHASES: FINANCE SECY