New Functionalities pertaining to modules of Registration and Returns made available for Taxpayers on GST Portal for the m/o May 2021 has been mentioned here.
The Council in its 44th meeting on 12th June 2021 has decided to reduce the GST rates on the specified items being used in Covid-19 relief and management till 30th September 2021.
As part of CBIC's constant endeavour to provide a smooth and hassle free experience to the taxpayers, the upcoming functionalities with relation to Ledgers, Returns, and Front Office will be deployed on the GST Portal.
Finance Minister Smt. Nirmala Sitharaman will chair the 44th GST Council meeting via video conferencing at 11 AM in New Delhi on 12th June 2021. The meeting will also be attended by MOS Shri. Anurag Thakur.
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.
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.
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.
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.
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.
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.
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