GST News
FM requested to take notice of Late Fees, Departmental Audit, Rule 36(4), and other GST Provisions amidst COVID-19
21 October 2020 at 16:31AIMTPA team has made a request to the FM stating prevalent issues that are being faced by taxpayers and professionals regarding GST. FM requested to take notice of Late Fees, Departmental Audit, Rule 36(4), and other GST Provisions amidst COVID-19.
GoI borrowing calendar modified to meet GST Compensation Cess shortfall of Rs. 1,10,000 crores
16 October 2020 at 16:55To operationalize the Special Window to States for meeting the GST Compensation Cess shortfall of` Rs. 1,10,000 crore the GoI borrowing calendar is being modified in consultation with RBI.
20 states move forward with Option 1 presented in the GST Council Meeting - Mobilize Rs. 68,825 crores
15 October 2020 at 11:40The Department of Expenditure, Ministry of Finance, has today granted permission to 20 States to raise an additional amount of Rs.68,825 crore through open market borrowings.
21 States now allowed to mobilize Rs.78,452 crore to meet the shortfall arising out of GST implementation
15 October 2020 at 10:1521 States now allowed to mobilize Rs.78,452 crore in addition to Rs 1.1 lakh crore to meet the shortfall arising out of GST implementation
Outcome of the Extended 42nd GST Council Meeting held on 12th October 2020
13 October 2020 at 11:29GST Council Meeting held on 12.10.2020 was a continuation of the 42nd GST Council meeting, to discuss point 9A. Discussions went on the issue of borrowing, extension of cess, and so on. Read the key updates from the meeting here.
Amnesty Scheme for GSTR 3B late fee ended on 30.09.20
10 October 2020 at 13:08Amnesty Scheme for GSTR 3B late fee ended on 30.09.20. Late fee will not be calculated as per original rules
Clarification relating to application of sub-rule (4) of rule 36 of the CGST Rules, 2017 for the months of Feb to Aug 2020
10 October 2020 at 12:34Clarification relating to application of sub-rule (4) of rule 36 of the CGST Rules, 2017 for the months of Feb to Aug 2020
Blocking of E-Way Bill (EWB) generation facility for taxpayers with AATO over Rs 5 Crore after 15th October, 2020
10 October 2020 at 12:34Blocking of E-Way Bill (EWB) generation facility for taxpayers with AATO over Rs 5 Crore after 15th October, 2020
Clarifications made w.r.t GSTR-9 and GSTR-9C for FY 18-19
09 October 2020 at 17:59Clarifications made w.r.t GSTR-9 and GSTR-9C for FY 18-19
GST - Standard Operating Procedure (SOP) for referring IT issues to the IT Grievance Redressal Committee
05 October 2020 at 12:59GST - Standard Operating Procedure (SOP) for referring IT issues to the IT Grievance Redressal Committee
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