GST annual return exemption for the FY 2021-22 CBIC vide notification no 10/2022-Central Tax dated 05th July 2022 exempt filing of GST annual return in form GSTR-9/9A for taxpayers whose annual aggregate turnover (AATO) for the FY 2021-22 is up to 2 Crores. Who shall file annual return in form GSTR-9 Every registered person, other than: … Read more
GSTR-4 for the FY 2021-22 can be filed up to 28th July 2022 CBIC vide Notification No: 07/2022- CT dated 26th May, 2022 waived late fees for filing GSTR-4 for FY 2021-22. GSTR-4 can be filed on or before 30th June 2022 without late fees**. GSTR-4 is return to be filed by the composition dealers annually … Read more
The CBIC vide Notification No. 05/2022- Central Tax dated 17th May, 2022 extended the due date for filing GST return in form GSTR-3B for the month of April-2022 till 24th May, 2022 due to technical glitches. The CBIC vide Notification No. 06/2022- Central Tax dated 17th May, 2022 extended the due date for payment of … Read more
GST E-invoice is mandatory for taxpayers with turnover exceeding 5 Cr Update on 24/02/2022 : E-invoice under GST applicability turnoverCBIC issued Notification No. 01/2022 – Central Tax, dated 24th February, 2022, revising turnover threshold for applicability of E-invoice. As per the notification w.e.f. 01/04/2022, e-invoicing shall be applicable to the registered person having aggregate turnover exceeding Rs. 20** crores … Read more
Submit Letter of Undertaking (LUT) for the FY 2022-23 by March 31, 2022 Under GST Law, Export of goods or services can be made without payment of integrated tax under the provisions of rule 96A of the Central Goods and Services Tax Rules, 2017 (the CGST Rules). Under the said provisions, an exporter is required … Read more
Due date for filing GST annual return in form GSTR-9 and 9C extended till February 28, 2022 The CBIC vide Notification No. 40/2021 – Central Tax dated December 29, 2021 extended the due date for furnishing GST annual return in form GSTR-9 and self-certified reconciliation statement in form GSTR-9C from December 31, 2021 to February … Read more
Important recommendations in 45th GST Council meeting relating to GST law and procedure 1) Relaxation in the requirement of filing FORM GST ITC-04: Change in periodicity for filing ITC-04 Revised periodicity for filing Form ITC-04*: a) Taxpayers whose annual aggregate turnover in preceding financial year is above Rs. 5 crores shall furnish ITC-04 once in … Read more
GST Amnesty Scheme extended up to 30th November 2021 The Central Board of Indirect Taxes and Customs (“CBIC”) vide Notification No. 33/2021-Central Taxes dated August 29, 2021 has further amended Notification No. 76/2018-Central Taxes dated December 31, 2018 so as to extend the benefit of Amnesty Scheme till November 30, 2021. Earlier vide notification number … Read more
Non-filers of 2 monthly GSTR3B returns to be barred from filing GSTR-1 Implementation of Rule-59(6) on GST Portal 1. Rule-59(6) of CGST Rules, 2017; inserted vide Notification No. 1/2021 dated 1st January 2021, this rule provides for restriction in filing of GSTR-1 in certain cases : a) GST registered person filing GSTR-1 on monthly basis … Read more
Change in GST Rates on goods being used in Covid-19 relief and management The 44th GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman through video conferencing here today. The Council in its meeting has decided to reduce the GST rates on the specified items being used in Covid-19 … Read more