GST News
ITC limit under rule sec 36(4) revised to 5 percent from 10 percent
23 December 2020 at 11:26The Central Board of Indirect Taxes and Customs has released the Central Goods and Services Tax (Fourteenth Amendment) Rules, 2020.
CBIC appoints 1st January 2021 for provisions of sections 119, 120, 121, 122, 123, 124, 126, 127 and 131 of the CGST Act to come into force
23 December 2020 at 10:05CBIC appoints 1st January 2021 for provisions of sections 119, 120, 121, 122, 123, 124, 126, 127 and 131 of the CGST Act to come into force
CBIC waives fee payable on late filing of GSTR-4 for businesses in Ladakh until 31st December 2020
23 December 2020 at 10:05CBIC has waived the fee payable on late filing of GSTR-4 for the registered persons whose principal place of business is in the Union Territory of Ladakh, from 1st November 2020 to 31st December 2020.
GSTN sends mass SMS to all GST registered businesses by mistake, creates panic among clients of CAs
22 December 2020 at 11:46The GST Network sent out a mass SMS to all GST registered businesses, by mistake, which further created panic amongst the clients of CAs. Numerous CAs expressed their dissent over the GST Network on Twitter, due to this.
8th Instalment of Rs. 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall
21 December 2020 at 18:05A total amount of Rs. 48,000 crore released so far to all States and UTs with legislation. This is in addition to additional borrowing permission of Rs. 1,06,830 crore granted to the States
GST Taxpayers | Late Fees and Interest applicable on the QRMP Scheme
21 December 2020 at 11:00The Quarterly Return and Monthly Payment Scheme (QRMP Scheme) has been a welcome gift to the small and medium level GST registered taxpayers. Know about the Late Fees and Interest applicable on the QRMP Scheme here.
GST Portal - Ignore prompt on liability for inward supplies attracting reverse charge in Table-3.1 (d)
21 December 2020 at 11:00Taxpayers may kindly continue to declare their correct liability in Table-3.1(d) pertaining to liability on inward supplies attracting reverse charge and proceed to file GSTR-3B
Due dates for filing of Form GSTR-3B for the Tax Periods from October 2020 till March 2021
18 December 2020 at 11:26The GST Portal has notified the due dates for filing of Form GSTR-3B for the Tax Periods from October 2020 till March 2021.
Generation of E-way Bills by Transporters for e-invoices
17 December 2020 at 16:21The NIC system is geared up to take the load of the taxpayers, with an annual turnover of more than Rs 100 Crores, to generate the IRNs from 01.01.2021, as notified by the government.
FM attends the 70th Passing Out Ceremony of IRS (C&CE) officers who will be at the helm of administering GST
17 December 2020 at 10:07The ceremony was presided over by the Chairman CBIC, Shri. M. Ajit Kumar. The Chairman received the Guard of Honour and inspected the parade.
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