No taxpayer shall receive input tax credit in regard records (invoices and debit notes) for the supply of goods or services (or both) for Financial Year 2020-21 after the due date of furnishing the return for the month of September 2021, according to Section 16(4) of the CGST Act, 2017. The GSTR-3B is due on …
1. Various trade groups have complained that they are unable to generate e-way bills for the transportation of goods where the principal nature of supply is classified as a service since the E-way bill portal does not allow them to generate E-way bills solely by entering SAC (Service Accounting Code-Chapter 99). 2. To address this …
The Goods and Services Tax Network (GSTN) published an advisory on October 4, 2021, about the reinstatement of the blocking of E-Way Bill (EWB) generation on the e-way bill portal for taxpayers. Because of the COVID, the government temporarily halted the blocking of E-way bill generation. The e-way bill generating facility is likely to be …
As per Notification No. 34/2021 dated 29th August 2021, the government has decided to extend the timeline for filing the application for revocation of cancellation of GST registration. The timeline has been extended to 30th September 2021, where the filing thereof falls due from 1st March 2020 to 31st August 2021. This extension of the …
As per the Notification No. 31/2021 – Central Tax released on 30 July 2021, the commissioner on the recommendation GST council has exempted those taxpayers whose annual aggregate turnover (AATO) is up to INR 2 Crores in the FY 2020-21, from filing Annual GST Return for the current financial year. Read more about Notification No. …
1. Interest Rate Lowered for March-May 2021 As per Notification 18/2021-Central Tax dated 1st June 2021, the Government of India seeks to provide relief by lowering of the interest rate for a specified time for tax periods March 2021-May 2021. Read more about Notification No. 18/2021 2. GSTR-3B Late Fee Waived for Specified Taxpayers As …
As per the notification (No. 06/2021-Central Tax dated 30.03.2021), CBIC seeks to waive off the penalty for non-compliance with the provisions related to the dynamic QR code till 30th June 2021. You can read the full notification here in English and Hindi.
As per the notification 05/2021-Central Tax issued on 8th March 2021, e-invoicing will soon be applicable on the taxpayer who is dealing in B2B and export supplies having turnover exceeding INR 50 Crores. Read more about Notification 05/2021 Latest NewsCBIC has made e-invoicing mandatory for taxpayers with a turnover of more than 20 crores from …
As per Notification No. 03/2021 CGST Act, here is the list of persons to whom provision of Section 25(6B) and 25(6c) will not apply: Not an Indian Citizen; or Central government and state government department or establishment; or A local authority; or A PSU; or Any person who is applying for registration under Section 25(9) …
