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GST - Latest News & Updates

Expectations from 39th GST Council Meeting

The 39th GST Council meeting will be held on the 14th March 2020. Here are some of the expectations from the 39th GST council meeting...

Posted in articles |   17 comments |   6933 Views

Waiver of Late Fees of GSTR 3B: Recent Notifications

CBIC has issued Notification No. 57/2020 on 30.06.2020 to prescribe maximum amount of penalty if GSTR3B is filed up to 30.09.2020. The said relief is for both class of taxpayers i.e. taxpayers having turnover up to Rs. 5 crores or more than 5 crores. Notification No. 57/2020 - Central Tax dated 30th June 2020 GSTR-3B - Taxpayers having turnover more than Rs. 5 crore in the preceding year <tbody..

Posted in articles |   11 comments |   824 Views

Form GSTR 3B : Waiver or reduction of Late fees

CBIC has issued Notification No - 57/2020-Central Tax dated 30-06-2020 waiving/reducing late fees on filing of GSTR 3B for the months of May 20 to July 20 by 30th September 20. This relief is for all class of normal&nbsp; taxpayers (Turnover below 5 Crores and above Rs 5 Crores). &nbsp; Earlier <a href="/notice..

Posted in articles |   8 comments |   1915 Views

Facility to file Nil GSTR-1 through SMS now available on the GST Portal

Now you can file your NIL GSTR-1 through SMS too. This facility has already been provided for NIL filing of GSTR-3B. Please send SMS in the prescribed format to avail the facility of NIL filing of GSTR-1 and GSTR-3B through SMS. ..

Posted in news |   801 Views

Message of Hon'ble FM N. Sitharaman on GST Day 2020

This government brought in GST as a historic reform of the indirect taxation system in the country effective from 1.1 July 2017. Since then, we have come a long w, in simplifying the GST tax administration based on feedback frorn taxpayers, experts and other stakeholders. We have strived to make return filing process easy and simple for small taxpayers by introducing features like SMS based filing for nil return. However, more efforts are required to ease tax compliances further for the taxpa..

Posted in news |   1 comments |   422 Views

GST June 2020 revenue touches 91% compared to last year

GST Revenue collection for June, 2020 Rs. 90,917 crore gross GST revenue collected in the month of June The gross GST revenue collected in the month of June, 2020 is Rs. 90,917crore of which CGST is Rs. 18,980crore, SGST is Rs. 23,970crore, IGST is Rs. 40,302crore (including Rs. 15,709crore collecte..

Posted in news |   330 Views

GSTR-3B late fees capped at Rs 500 for July 2017 to July 2020

The CBIC notified that&nbsp; Late Fee for Form GSTR 3B has been capped at Rs. 500 for tax period July 2017 to July 2020 subject to returns being filed before 30th September 2020. Here is the official notification.&nbsp; &nbsp; MINISTRY OF FINANCE&nbsp; (Department of Revenue)&nbsp; (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) &nbsp;NOTIFICATION&nbsp; New Delhi, the 30th June, 2020&nbsp; No. 57/2020&nda..

Posted in news |   22 comments |   6488 Views

GST Due dates Effects is like

Arjun (Fictional Character): Krishna, some major recommendations were put forth by the GST Council in the 40th GST Council meeting. What further step has CBIC taken to give effect to the recommendations? Krishna (Fictional Character): Arjuna, CBIC has issued one GST Instruction, Two IGST Notifications, 6 CGST Notifications and one UTGST Notification on 24th June 2020, to give effect to the recommendations of 40th GST Council meeting. Let&#39;s study..

Posted in articles |   1 comments |   3462 Views

GST Compliance relaxations related to Refund, E-way Bills and Orders

The Central Board of Indirect Taxes and Customs (CBIC) has issued Central Tax notifications under GST Laws to implement the relief measures due to outbreak of Covid-19 and Nationwide lockdown. Also recently Government has announced to roll out facility file NIL return in Form GSTR 1 through SMS. Earlier NIL GSTR 3B was announced to be filed through SMS. The fresh notifications has further extended the deadline for certain compliances. The summary of such notifications along with lin..

Posted in articles |   453 Views

GST Return Due Dates: Updated Compliance Chart

Further Relief Measures- COVID-19 Updated Compliance Chart for GSTR-3B and GSTR-1 Reduction in Late fee in filing GSTR-3B Change in the calculation of Interest amount if filed after relief dates Relief provided in filing GSTR-3B for May 2020 to August 2020 Reduced rate of Interest @9% if GSTR-3B filed by Sept. 20 One-time chance to file revocation application against cancellation Filing of GSTR-1 and GSTR-3B..

Posted in articles |   6252 Views

Facility to file Nil GSTR-1 by SMS to be rolled out in July

Government to roll out facility to file Nil Form GSTR-1 through SMS from the first week of July. New Delhi. In a major move towards GST taxpayers&#39; facilitation, the Government has decided to provide the facility of SMS filing of NIL statement of FORM GSTR-1 from 1&quot; week of July 2020. The Central Board of Indirect Taxes and Customs (CBIC) said that the filing of NIL statement in FORM GSTR-1 also through SMS would substantially improve ease of GST..

Posted in news |   646 Views

GST Changes in Finance Act 2020 effective from 30th June 2020

Certain section of Finance Act 2020 has been made effective from 30th June 2020 vide Notification No 49/2020 - Central Tax dated 24th June 2020. It seeks to bring into force Sections 118, 125, 129 &amp; 130 of Finance Act, 2020. Tabular presentation is as under - Changes of Finance Act 2020 – Effective from 30th June 2020 (vide Notification No 49/2020- Central Tax,dt. 24-06-2020) &nbsp; <div class="table-resp..

Posted in articles |   5412 Views

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