Refund of GST Now taxpayers can track their refund application status without login to GST portal Facility to Withdraw already filed refund application due to mistakes / errors in filing a application in Form GST RFD-01W before issuance of acknowledgement in GST RFD 02 or Deficiency Memo in Form GST RFD 03 from Refund Processing …
ISDs (Input Service Distributors) would now, not be able to enter invoices/debit notes/credit notes of their suppliers having GSTN cancelled status , having date after their effective date of cancellation, or having date before the date of grant of registration to suppliers or that of ISD (itself).
Existing taxpayers while opting for composition scheme are required to file details of stock in Form GST ITC-03 and pay tax on the stock (on which ITC has been claimed by them). Now a facility has been provided on the GST Portal to such taxpayers to file NIL Form GST ITC-03.
The facility of filing Annual Returns in Form GSTR-9A by taxpayers in Composition Scheme, has been done away from FY 2019-20 & onwards.
Quarterly Return Monthly Payment scheme (QRMP) under GST Issuance of system generated notice in Form GSTR-3A, to the taxpayers who have opted for QRMP Scheme and fail to filed their GSTR-3B return on quarterly basis, within due date. Taxpayers opting for fixed sum method , prefilled Challan of in Form GST PMT-06 of 35% of …
Quarterly Return Monthly Payment scheme (QRMP) under GST.(11.03.2021) Read More »
Tracking of GST Registration Application Status Post Temporary Registration No.(TRN) Login will now be displayed stage wise on the portal.
Udyam registration simplified – GSTN requirement relaxed. The proprietor may use his/ her PAN for registration of the enterprise in the Udyam Registration Portal and now no need for GST registration. Notification No. S.O. 1055(E) dated 05.03.2021
In the recent Supreme Court Suo Motu judgment in computing the period of limitation for filing any suit, appeal, application or proceeding, the period from 15.03.2020 till 14.03.2021 shall stand excluded and consequently, the balance period of limitation remaining as on 15.03.2020, if any, shall become available w.e.f 15.03.2021. In cases where the limitation would …
Taxpayers having turnover exceeding Rs 50 Crores ( existing 100 Crores) will have to generate e Invoices w.e.f 1st April 2021. (Notification No. 05/2021–Central Tax Dated 8th March, 2021)
Taxpayers are required to select their business activity only once, as – Manufacturer, wholesaler/Distributor/Retailer, service providers & others , post login based on highest turnover amongst the business activities it can be changed later.
Bizsol Update for the month March 2021 Article: Arcticle on ” GST Impact on Exporters” by CMA Ashok NAwal , Founder, Bizsolindia Services Pvt. Ltd. Changes in GST, FTP, Central Excise, Customs, Income Tax, Service Tax, MVAT, Company law, FEMA/ RBI , SEZ. Important due dates for the statutory payments for the month. Important High …
The Central Board of Employees Provident Fund has recommended 8.50% annual rate of interest to be credited on EPF accumulations in members’ accounts for the financial year 2020-21. It will be shortly notified.
Now, it will be mandatory for every taxpayer to report HSN Code in Table 12 of GSTR 1. In case of turnover up to 5 Crore , minimum 4 digit HSN Code to be reported for all B2B supplies & exports and where the turnover is more than 5 crores minimum 6 digit HSN code …
Introduction of a category as ‘Potential cases’ for selection by the Jurisdictional Assessing Officer (JAO) to issue notices up to 31st March 2021 wherein any income has escaped recomputation or assessment for the AY 2013-14 to AY 2017-18 u/s 148 of the IT Act. . Potential cases to include Reports of Directorate of Income-tax (Investigation),Directorate …
Issue of ADVISORY NO. 05/2021 – ACES-GST (CE&ST) dated 27th February 2021 towards allotment of Temporary Accounting Code (0038 0210) to pay Agriculture Infrastructure and Development Cess (Central Excise)
CBDT vide Circular No 02/2021 dated 3rd March 2021 has provided that if any individuals who had come on a visit to India during the previous year 2019-20 and intended to leave India but could not do so due to suspension of international flights and facing double taxation even after taking into account the relief provided …
Vide Gazette no. G.S.R. 143(E ) dated 1st March 2021 New labour law ‘The Code on Wages (Central Advisory Board) Rules, 2021’ have been published by MINISTRY OF LABOUR AND EMPLOYMENT in suppression of existing Minimum Wages Act & Rules.
DGFT announces Online Module for Adjudication, Appeal, Review proceedings.
Measures for Streamlining of Customs Post Clearance Audit work has been notified and custom audit will now be regularly conducted and monitored.
India is the part of WTO agreement, wherein it was agreed by all the countries that taxes will not be exported. In other words, tax will not be part of value of cost & services which is getting exported. One of the objective as mentioned in Para 1.06 of Foreign Trade Policy 2015-19 on the …
