GST News

Advisory on Table-12 of GSTR-1

09 June 2021 at 05:22

It has been reported that in the GSTR-1 for the tax period of May 2021, the ‘Total Invoice value’ field in the preview PDF is displaying a value as ‘0’ instead of N.A, in the cases where the taxpayer has not reported any value.

Posted in GST | 8814 Views

Relief to taxpayers, regarding late fee, for delay in filing Form GSTR-3B returns

05 June 2021 at 17:25

CBIC has rationalized the late fee for delay in filing of return in FORM GSTR-3B w.e.f 20th May 2021 and has provided a conditional waiver of late fee for delay in filing FORM GSTR-3B from July 2017 to April 2021.

Posted in GST | 3 comments | 4992 Views

Waiver of interest and late fee for normal taxpayers and composition taxpayers under GST

05 June 2021 at 17:25

Government has granted waiver from payment of interest and/or late fee to normal (Monthly / Qtrly) & composition taxpayers for the tax periods of March, April & May 2021, vide Notification. No's. 18/2021 & 19/2021, both dtd. 1st June 2021.

Posted in GST | 3345 Views

Gross GST revenue of Rs. 1,02,709 crore collected in May 2021

05 June 2021 at 17:00

The gross GST revenue collected in the month of May 2021 is Rs. 1,02,709 crore. The revenues for the month of May 2021 are 65% higher than the GST revenues in the same month last year.

Posted in GST | 1320 Views

Updated Due Dates of Various GST Compliances

03 June 2021 at 21:15

Updated due dates for filing of Form GSTR-1/IFF by Normal Taxpayers, Returns by Composition, NRTP, ISD, TDS & TCS Taxpayers and of Form ITC-04 have been listed here.

Posted in GST | 1 comments | 13464 Views

The idea of GST: RIP says Former Finance Minister P. Chidambaram

02 June 2021 at 18:36

The Former Finance Minister P. Chidambaram on Wednesday, 2nd June 2021, took to his Twitter handle to lay down GST in 10 points. Given in this news piece are his official Tweets.

Posted in GST | 6 comments | 9711 Views

CBIC rationalizes late fee for delay in filing of return in Form GSTR-4

02 June 2021 at 07:25

CBIC has waived the late fee for delay in furnishing of return in FORM GSTR-4 for FY 2021-22 in cases where the late fee is in excess of Rs. 250, where the total tax payable is NIL and in cases where the late fee is in excess of Rs. 1000.

Posted in GST | 2508 Views

CBIC rationalizes late fee for delay in furnishing of the statement of outward supplies in Form GSTR-1

02 June 2021 at 07:18

Vide Notification No. 20/2021 – Central Tax, CBIC has waived the late fee for delay in furnishing of the statement of outward supplies in FORM GSTR-1 from June 2021 onwards or the quarter ending June 2021 onwards.

Posted in GST | 3135 Views

CBIC rationalizes late fee for delay in filing of return in Form GSTR-3B

02 June 2021 at 07:11

Vide Notification No. 19/2021 – Central Tax, CBIC has rationalized late fee for delay in filing of return in FORM GSTR-3B w.e.f 20th May 2021 and has provided a conditional waiver of late fee for delay in filing FORM GSTR-3B from July 2017 to April 2021.

Posted in GST | 3504 Views

CBIC provides relief by lowering of the interest rate for a specified time for tax periods March 2021 to May 2021

02 June 2021 at 07:03

Vide Notification No. 18/2021 – Central Tax, the Central Board of Indirect Taxes and Customs has provided relief to taxpayers by lowering the interest rate for a specified time for tax periods March 2021 to May 2021, w.e.f 18th May 2021.

Posted in GST | 2229 Views