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GST News

Government of India  Ministry of Finance  Department of Revenue  New Delhi, the 08th April, 2020  In the context of the COVID-19 situation and a view to provide immediate relief to the business entities and individuals. it has been decided to issue all the pending income-..

Posted in GST  4 comments |   365 Views

 The interest rate for late filing of GSTR-3B  have been notified on the GST Portal. Interest will be levied @18% for taxpayers having turnover >Rs 5 crore if the return is not filed by the 24th of June. Here is what the official notice reads on the GST Portal: Interest liability for..

Posted in GST  1 comments |   5013 Views

The CBIC has extended the due dates for opting in for the composition scheme. The GST portal issued an advisory regarding opting for composition for 2020-21. The notice said that, " The taxpayers SHOULD NOT file any GSTR-1/GSTR-3B, for any tax period of FY 2020-21, from any of the GSTIN on..

Posted in GST |   911 Views

The Finance Minister announced various relaxations in the form of extension of filing dates, waiver of late fees, and reduced interest rates. To give effect to the relaxations a list of notifications was issued on the 3rd of April. However, there was still confusion among the tax practitioners ..

Posted in GST  2 comments |   8736 Views

In the view of the outbreak of COVID-19 the FM had announced the extension of due dates to file GSTR-3B for the month of Feb, March, and April. The FM in her speech mentioned that the due dates will be extended in a staggered manner. The CBIC released notifications on the 3rd of April 2020 to give e..

Posted in GST  2 comments |   10790 Views

Tracking GST Refund Application Status on the GST Portal and PFMS portal 1. The functionality to track the status of refund application has been available on the GST portal. By utilising this functionality, the taxpayers can know the stage at which the refund application is pending with the tax-o..

Posted in GST  1 comments |   1487 Views

The Hon'ble FM due to the outbreak of COVID-19 announced the extension of various statutory due dates for the taxpayers via a video press conference. The taxpayers had been demanding extension due to the inconvenience caused amidst the COVID-19 outbreak. Various compliance dates have been extend..

Posted in GST  61 comments |   15112 Views

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 18/2020 - Central Tax New Delhi, the 23rd March, 2020 G.S.R….(E..

Posted in GST |   765 Views

In an investigation led by CGST Meerut team has prima facie revealed issuance of GST invoices of Rs. 1,708 crores from a chain fake firms/companies operating from Delhi, Moradabad and Meerut, involving fraudulent ITC of about Rs 281 crores. The fraud amount may exceed on further probe. On the bas..

Posted in GST |   421 Views

Update: The FM via a video press conference on the 24th of March announced the extension of GSTR due dates to 30th June 2020 whereas the fake tweet was circulated on the 23rd March. Visit the link below to read the latest updates.   Due to the outbreak of COVID-19 in our country, GST prac..

Posted in GST  7 comments |   6925 Views

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