1.It is to inform you that it has been decided by the Government to impose a time limit on reporting old invoices on the e-invoice IRP portals for taxpayers with AATO greater than 100 crores. 2.To ensure timely compliance, taxpayers in this category will not be allowed to report invoices older than 30 days on […]
In terms of the recent amendments to the Act and the rules and notification number 34/2023 dated 31.07.2023, persons supplying goods through e-commerce operators shall be exempt from mandatory registration under the CGST Act even if they supply goods through e-commerce operators (ECO) if they satisfy the following conditions mentioned therein. GSTN has developed the […]
27/10/2023 “Notification 51/2023 dated 29.09.2023 has introduced Table 5B in GSTR 5A w. e. f 01.10.2023. In this notification, Table 5B has been introduced to report supplies made to Registered GSTINs (B2B supplies). This would be implemented shortly at GSTN and till such time, OIDARs are advised to file the return in the existing GSTR […]
14/11/2023 1.Vide Rule 37A of CGST Rules, 2017 the taxpayers have to reverse the Input Tax Credit (ITC) availed on such invoice or debit note, the details of which have been furnished by their supplier in their GSTR-1/IFF but the return in FORM GSTR-3B for the said period has not been furnished by their supplier […]
14/11/2023 Difference in Input Tax Credit (ITC) available in GSTR-2B & ITC claimed in the GSTR-R3B It is informed that GSTN has developed a functionality to generate automated intimation in Form GST DRC-01C which enables the taxpayer to explain the difference in Input tax credit available in GSTR-2B statement & ITC claimed in GSTR-3B return […]
Allowing supplies to SEZ units/ developer for authorised operations for IGST refund route by amendment in Notification 01/2023Integrated Tax dated 31.07.2023: The Council has recommended to amend Notification No. 1/2023-Integrated Tax dated 31.07.2023 w.e.f. 01.10.2023 so as to allow the suppliers to a Special Economic Zone developer or a Special Economic Zone unit for authorised operations […]
Notification No. 36/2023 – Central Tax dated 04.08.2023, issued to notify special procedure to be followed by the electronic commerce operators (ECOs) in respect of supplies of goods through them by composition taxpayers The Central Government vide the said Notification outlines that ECOs are now required to follow a special procedure for goods supplied through […]
As per Section 17(5) (fa) of CGST Act, ITC is Blocked for goods or services or both received by a taxable person, which is used or intended to be used for activities relating to his obligations under Corporate Social Responsibility referred to in section 135 of the Companies Act, 2013 The amendment is effective from […]
Circular No. 206/18/2023-GST dated the 31st October, 2023 Based on the recommendations of the GST Council in its 52nd meeting held on 7th October, 2023 ,at New Delhi, clarification 1.Whether ‘same line of business’ in case of passenger transport service and renting of motor vehicles includes leasing of motor vehicles without operators. Same line of […]
I.Changes in GST rates of goods 1.GST rates on “Food preparation of millet flour in powder form, containing at least 70% millets by weight”, falling under HS 1901, with effect from date of notification, have been prescribed as: a. 0% if sold in other than pre-packaged and labelled form b. 5% if sold in pre-packaged […]
