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Deemed exports are a type of transaction under the Goods and Services Tax (GST) regime that involve the supply of goods or services that are not physically exported from India but are deemed to have been exported.
Change in Sec.10 of CGST Act (Composition Scheme for Supplier of Goods via E-commerce)
The terms GTA has not been defined under GST Act, 2017, GST Rules. It is presently defined under the Notification No. 12/2017- Central Tax (Rate) and Notification No. 9/2017-Integrated Tax (Rate) both dated 28-6-2017.
With effect from 01.01.2021, section 16(4) of the CGST Act, 2017 was amended videthe Finance Act, 2020, so as to delink the date of issuance of debit note from ..
Once supply is made it is crucial to determine the Time of supply "event triggering the liability". Therefore it is of utmost importance to understand the time of supply which is provided in Section 12/13/14 of CGST Act,2017 and section 20 of IGST Act,2017.
GSTR-1 is a monthly filing on 10 of Subsequent Month which discloses GST liability of Taxpayer.
To avoid revenue leakages or safeguard the honest taxpayers, CBIC has come up with a provision to Link Bank account details with GSTIN.
National Pension Scheme is a scheme introduced to cultivate a habit to save money for pension. It is available to any person between the age group of 18-65 years.
CBIC has issued few notifications in which they have provided relaxation to the taxpayers who have failed to file GSTR from July 2017 to April 2021. Discussing the same in this article.
Section 112 of the Finance Act 2021 shall come into force on 1st June 2021. This section seeks to amend Section 50 of the CGST Act, 2017 which relates to Interest on Delayed Payment of GST.
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