Articles by Lekhraj sood

Blocking and Unblocking of ITC - A Welcome Circular

Lekhraj sood 08 June 2021 at 09:27

A Welcome Circular that amends the conditions of use of amount available in the electronic credit ledger as per Rule 86A of the Central Goods and Services Tax (CGST) Rules, 2017.

Posted in GST | 10641 Views

Special Drive to process GST refunds and duty drawback claims

Lekhraj sood 17 May 2021 at 09:38

GoI has come up with a special drive to sanction the refund claims of GST and customs duty drawback claims of the taxpayers to ease out the cash flow problems, amid COVID-19.

Posted in GST | 729 Views

14 Reasons Why your GST registration may be suspended

Lekhraj sood 17 February 2021 at 17:41

The article lists 14 Reasons why your GST registration may be suspended, as per the latest notifications and circulars issued by CBIC.

Posted in GST | 17028 Views

Beware of Suspension of GST Registration

Lekhraj sood 15 February 2021 at 09:42

The CGST Amendment Act introduced Suspension of Registration by inserting a proviso to Section 29 (2) of the CGST Act, 2017 effective from 01.02.2019. Let us understand why taxpayers must beware of this.

Posted in GST | 1 comments | 12129 Views

Relaxed AEO accreditation for MSMEs - Relaxations in requirements

Lekhraj sood 09 January 2021 at 09:32

In this article, an attempt is made to explain the modified requirements to enable MSMEs to avail the benefits of Authorized Economic Operator ( AEO) scheme.

Posted in Custom | 795 Views

Auto population of E-invoice in GSTR 1

Lekhraj sood 04 January 2021 at 10:03

In this article, we discuss the important points and updates that are to be noted by taxpayers who had started e-invoicing from 1-10-2020 and whose auto-population of e-invoice data into GSTR-1 had started from 3rd December 2020.

Posted in GST | 1 comments | 8391 Views

Welcome 2021 - Welcome Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme

Lekhraj sood 02 January 2021 at 10:11

Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme Launched and has come into effect from 1st January 2021. This scheme will replace the existing MEIS scheme.

Posted in Custom | 4755 Views

Recent Changes in GST Rules - Impact and Actions needed

Lekhraj sood 24 December 2020 at 10:18

In this article, an attempt is made to discuss the recent changes in the GST Rules, and their impact on the taxpayers along with actions that taxpayers would need to take, to comply with the said changes.

Posted in GST | 3 comments | 10575 Views

Recent changes in GST Returns and Payments

Lekhraj sood 16 November 2020 at 10:25

CBIC has introduced a new scheme known as ‘Quarterly Return and monthly payment" for the small taxpayers whose aggregate turnover does not exceed Rs. 5.00 cr.

Posted in GST | 1 comments | 14544 Views

How to Report TCS under Income Tax in GSTR1?

Lekhraj sood 16 November 2020 at 10:25

TCS u/s 206C(1H) has been implemented from 1.10.2020. However, a question is arising as to how this TCS in the Tax invoice should be reported in GSTR1 under GST.

Posted in GST | 3 comments | 17175 Views