CBIC vide Notification No. 14/2022 Central Tax dated 05.07.2022 has provided for certain changes in FORM GSTR-3B so as to enable the taxpayers in reporting correct information regarding Input Tax Credit (ITC) availed, ITC reversal, ITC re-claimed and ineligible ITC. Currently, the invoices not meeting the necessary conditions for availing ITC shall be reversed in …
The directorate general of goods and services tax intelligence (DGGI) has sent tax demand notices to several local corporate houses over corporate guarantees given on behalf of their subsidiaries, and to multinationals where they have given such guarantees for their Indian units. The notices were sent to at least 14 companies, including automakers, FMCG and …
GST DIRECTORATE SEEKS TAX ON CORPORATE GUARANTEES. Read More »
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MCA proposed to do away with Statutory Audit as per the Companies Act 2013 for small companies As per news updates, the Ministry of Corporate Affairs (MCA) might do away with Statutory Audit as per the Companies Act 2013 for small companies. This decision has been taken in line with the ease of doing business. …
26/08/2021 You will not be able to file GSTR-1 if GSTR-3B has not been filed for previous 2 months effective Sep 1, 2021. Read the new rules below: Rule-59(6) of CGST Rules, 2017; inserted vide Notification No. 1/2021 dated 1st January 2021, provides for restriction in filing of GSTR-1 in certain cases : a) a …
👉The Good and Service Tax Network (GSTN) has released the procedure for generating Challan without logging in to the Goods and Service Tax (GST) Portal. 👉In order to generate Challan without logging in to the GST Portal visit www.gst.gov.in, then navigate to services, then select payment and click on Create Challan Option, in GSTN or …
Know How to Generate Challan without Logging in the GST Portal* Read More »
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Filing of Annual returns by composition taxpayers. – Negative Liability in GSTR-4 Instances have come to notice where taxpayers are reporting negative liability appearing in their GSTR-4. 🌱 Background: Since FY 2019-20, composition taxpayers has to pay the liability through Form GST CMP-08 on quarterly basis while GSTR-4 Return is required to be filed on …
🛡️ Filing of Annual returns by composition taxpayers. – Negative Liability in GSTR-4. Read More »
The government has deferred by three months till July 1 the requirement of printing dynamic QR code on B2C (business-to-consumer) invoices generated by businesses. Quick response code or QR code help users verify the details in the digitally signed e-invoice. In a notification, the Central Board of Indirect Taxes and Customs (CBIC) waived the amount …
PRINTING OF DYNAMIC QR CODE ON B2C INVOICES DEFERRED TILL JULY 1 | BUSINESS STANDARD Read More »
🚨 A GST taxpayer is required to keep the following in mind at the beginning of the FY 2021-22. 👉 1. The functionality to opt for composition scheme has been made available for FY 2021-22 in the dashboard of taxpayers at GST Common Portal. The eligible taxpayers, who wish to avail the composition scheme from …
🌺 8 Important things to do before the new Financial Year begins (F.Y. 2021-22) Read More »
