GST News
Payment of Tax by Fixed Sum Method under QRMP Scheme
05 February 2021 at 05:54W.e.f. 1st January 2021, two options are available to the taxpayers who are under the QRMP Scheme for tax payment for the first 2 months of a quarter i.e Fixed Sum Method and Self-Assessment Method.
DGGI Gurugram arrests one for collecting GST of Rs. 12.67 crore
05 February 2021 at 05:54DGGI, North Zone, Gurugram, has arrested Shri Harish Kumar Rampal, Chartered Accountant, proprietor of M/s Rampal and Company (ICAI Reg. No. 080333).
14th Instalment of Rs. 6,000 crore released to the States to meet the GST compensation shortfall
03 February 2021 at 14:05A total amount of Rs. 84,000 crore released so far to all States and UTs with legislature. This is in addition to additional borrowing permission of Rs. 1,06,830 crore granted to the States.
Know how to match Form GSTR-2B with Purchase Register using a Matching Tool
03 February 2021 at 05:43Watch to know how you can match Form GSTR-2B with Purchase Register using a Matching Tool
GST Audit to continue for FY 2019-20, clarifies CBIC
03 February 2021 at 05:39CBIC notifies that Sections 35 and 44 of CGST Act are proposed to be amended in Finance Bill 2021. However, these proposals will come into effect from a date to be notified later. For FY 2019-20, the existing provisions shall continue.
Auto-population of e-invoice details into GSTR-1
02 February 2021 at 05:44Taxpayers are hereby advised not to wait for the complete auto-population, and instead proceed with preparation and filing of GSTR-1 (by the due date), based on actual data as per their records.
GST Audit scrapped as Budget omits section 35(5) from GST Act
01 February 2021 at 14:27GST Audit scrapped as Budget omits section 35(5) from GST Act to allow self-certification. Here is the updated amendment.
GST Revenue collection for January 2021 almost touches Rs.1.20 lakh crore
31 January 2021 at 23:49The GST revenues during January 2021 are the highest since the introduction of GST and has almost touched the Rs. 1.2 lakh crore mark, exceeding the last month’s record collection of Rs. 1.15 lakh crore.
Monthly Gross Revenue GST collections Cross 1 Lakh Crore mark for 3 Months in a row
31 January 2021 at 07:55Capital Expenditure for April to December 2020 stands at 3.14 Lakh Crore which is 24% higher than corresponding period of previous year
Module wise new functionalities deployed on the GST Portal for taxpayers
30 January 2021 at 05:58Various new functionalities are implemented on the GST Portal, from time to time, for GST stakeholders. These functionalities pertain to different modules such as Registration, Returns, Advance Ruling, Payment, Refund and other miscellaneous topics
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