GST Articles


Summary of GST Offences & Penalties

  CA Amit Jain    16 September 2019 at 13:15

Section of CGST  Details of Failure/Person liable to pay Penalty 47 (1) Any Registered person who fails to furnish returns i.e. Details of Outward supplies U/s 37 or returns U/s 39 or Final Return U/s 45 Late Fees of Rs. 100 per day per Act subject ..

Posted in GST |   3399 Views




It would be important to note the following important due dates for the FY 2018-19: A. In terms of section 16 (4) of the CGST Act, 2017, the due date for availing input tax credit (ITC) in respect of any invoice or debit note relating to FY 2018-19 would be earliest of the following: The du..

Posted in GST  18 comments |   10907 Views




"Close some doors not because of pride or incapacity, but simply because they no longer lead somewhere and start a fresh." - Paulo Coelho Overview of the SVLDRS, 2019: In the Union Budget 2019-20, the Hon’ble Finance Minister announced the Sabka Vishwas (Legacy Dispute Res..

Posted in GST  2 comments |   1626 Views




Our nation witnessed a drastic change on 1st July, 2017 when Goods and Services Tax was implemented. However, the same was not applicable to the State of Jammu and Kashmir with effect from 1st July, 2017. The State of Jammu and Kashmir adopted GST on 7th July, 2017 and accordingly G..

Posted in GST |   1456 Views




GST came into effect from 1st July 2017 but till date there has not been a single round of return cycle that has been completed as envisioned by the rules that was introduced in July,2017. The GSTR-1, GSTR-2 and GSTR-3 was envisioned as a return cycle for a tax period but due to various reasons the ..

Posted in GST  3 comments |   1651 Views




Arjuna (Fictional Character): Krishna, September Month has begun and so is the Income Tax Season, what are the new reporting requirements for Taxpayers in Income Tax Returns? Krishna(Fictional Character): Arjuna, Each year CBDT notifies new ITR’s and brings changes in the Income Tax Return ..

Posted in GST  1 comments |   4123 Views




Synopsis: The Hon'ble Gujarat High Court in the matter of AAP & Co. vs Union of India has grants interim relief in writ challenging imposition of late fees for late filing of GSTR-3B under Section 47 of the CGST Act. Facts: M/s AAP & Co. ('the Petitioner') filed writ petiti..

Posted in GST  2 comments |   4840 Views



GST Ganesha: Save Taxpayers

  CA Umesh Sharma    04 September 2019 at 11:19

Arjuna (Fictional Character): Krishna, 'Vighnaharta' Lord Ganesha' is arriving in the month of September to resolve all the 'Vighnas' of all the devotees. The month of September is the most important month which the Taxpayers should take care of. What are 'Vighnas' that t..

Posted in GST  3 comments |   2494 Views




"Every new beginning comes after an end of something...." With this perspective in mind, the Union Government announced the 'Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019' ('Scheme') as a part of the Union Budget 2019-20. The Scheme will be in vogue during Septe..

Posted in GST |   1928 Views




The Intention of the government is crystal clear: There is a need to unload the legacy litigation baggage and allow business to move on, thus proposed Legacy Dispute Resolution Scheme that will allow quick closure of these litigations. It is a historical scheme and one of the best so far. However, t..

Posted in GST  1 comments |   2555 Views






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