GST News
CBIC amends Rule 80 of GST Return, Instructions related to GSTR-9 and Form GSTR 9C
31 July 2021 at 12:55CBIC has issued the Central Goods and Services Tax (Sixth Amendment) Rules, 2021 under which, amendments have been made under rule 80 relating to Annual Return, instructions related to the filing of GSTR-9 and Form GSTR-9C.
Registered Taxpayers with AATO of Rs. 2 crores, not required to file a GST Return for FY 2020-21
31 July 2021 at 12:41The Central Board of Indirect Taxes and Customs, via Notification No. 31/2021 - Central Tax has exempted taxpayers having an aggregate turnover of Rs. 2 crores from the requirement of filing an annual return for FY 2020-21.
GSTN | Functionality to check and update bank account details
30 July 2021 at 06:30A functionality to check status of bank account details update for the taxpayers who have taken new registration at GST Portal but have not yet furnished the same, has been introduced, in view of Rule 10A of the CGST Rules 2017.
GSTN | New functionality on Annual Aggregate Turnover deployed on GST Portal for taxpayers
27 July 2021 at 20:05The taxpayers can now see the exact Annual Aggregate Turnover for the previous FY, instead of just the two slabs of Above or Upto Rs. 5 Cr. Taxpayers can also see the AATO of the current FY based on the returns filed to date.
54,439 appreciation certificates given to taxpayers on eve of completion of 4 years of GST
26 July 2021 at 22:01GoI has awarded Appreciation Certificates, on the eve of completion of 4 years of GST, to 54,439 taxpayers who have made substantial contribution in payment of GST and filed their returns in a timely manner.
Clarification regarding extension of limitation under GST Law in terms of SC's Order dated 27th April 2021
24 July 2021 at 06:00The Government had issued notifications under Section 168A of the CGST Act, 2017, wherein the time limit for completion of various actions, by any authority or by any person, under the CGST Act, which falls during the specified period, had been extended.
Filing of Annual returns by composition taxpayers - Negative Liability in GSTR-4
23 July 2021 at 06:27If there is no liability to be paid during the year, the liability paid through Form GST CMP-08 shall move to negative liability statement and the same excess amount can be utilised to pay the liability of future tax periods.
GST Compensation dues paid to all States for FY 2020-21 and 2021-22
19 July 2021 at 22:06GST compensation of Rs. 91,000 crore has been released to all States/ UTs to partly meet the compensation payable for the period April’20 to March’21 as the amount in GST Compensation Fund was not adequate to meet the full compensation requirement.
Centre releases Rs 75,000 crore to States and UTs as GST compensation shortfall
15 July 2021 at 19:55Ministry of Finance has released Rs 75,000 crore to the States and UTs with Legislature under the back-to-back loan facility in lieu of GST Compensation. Almost 50 % of the total shortfall for the entire year released in a single instalment.
GST officials booked 8000 cases involving fake ITC of over Rs 35K crore in FY 2020-21
13 July 2021 at 20:41During the FY, 426 persons including 14 professionals such as CAs, Lawyers and masterminds, beneficiaries, directors etc. were arrested. Moreover, a nation-wide special drive against the fake GST invoice was launched w.e.f. 9th November 2020.
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