Form GSTR-2B is an auto-drafted ITC statement which is generated for every normal taxpayer on the basis of the information furnished by their suppliers in their respective GSTR-1/IFF, GSTR-5 and GSTR-6.
As per Section 16(4) of CGST Act, 2017, no taxpayer shall take ITC in respect to records (invoices and debit notes) for the supply of goods or services for FY 2020-21 after the due date of furnishing the return for the month of September 2021.
Mr Chirag Goel masterminded a deep-rooted conspiracy to defraud the Government and committed offences specified under Section 132(1)(c) of the CGST Act, 2017 which are cognizable and non-bailable.
This release of Rs 40,000 crore is funded from borrowings of GoI in 5-year securities, totalling Rs 23,500 crores and 2-year securities for Rs 16,500 crore issued in the current FY, at a Weighted Average Yield of 5.69 and 4.16% p.a. respectively.
The blocking of EWB generation facility has now resumed on the EWB portal for all the taxpayers. Going forward, from the tax period August 2021 onwards, the System will periodically check the status of returns filed in Form GSTR-3B.
The gross GST revenue collected in the month of September 2021 is Rs. 1,17,010 crore of which CGST is Rs. 20,578 crores, SGST is Rs. 26,767 crores, IGST is Rs. 60,911 crores and Cess is Rs. 8,754 crores.
The CBIC has notified a new set of rules to amend the existing CGST Rules, 2017, which shall come into force as on the date of its publication in the Official Gazette (except provided otherwise).
It usually takes 2 days (after reference date) for BE details to get updated on GST Portal from ICEGATE. This functionality should, therefore, be used if data is not available after this period.
The recommendations of the GST Council have been presented in this release containing major item of decisions in simple language for information of all stakeholders. The same would be given effect through relevant Circulars/ Notifications/ Law amendments.
In cases where the principal supply is purely a supply of service, the e-way bill is not required to be generated. However, in cases where along with the principal supply of service, movement of some goods is also involved, e-way bill may be generated.
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