Summary of the GST notifications issued by CBIC as on 01st June 2021 to give effects to the 43rd GST Council meeting dated 28th May 2021 Notification No. & Date of Issue Subject 27/2021-Central Tax dated 01.06.2021 Seeks to make amendments (Fifth Amendment, 2021) to the CGST Rules, 2017. 26/2021-Central Tax dated 01.06.2021 Seeks to … Read more
The 43rd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman through video conferencing here today. The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States & UTs and senior officers of the Ministry of … Read more
Finance Act, 2020 amended section 30 of the Central Goods and Services Tax Act, 2017 and the same has been notified with effect from 01.01.2021 vide notification No. 92/2020- Central Tax, dated 22.12.2020. Vide amended section 30 of the CGST Act 2017 time limit for filing application for revocation of cancellation of GST registration was … Read more
Summary of GST Covid-19 relief notifications dated 01st May 2021 Notification No. Dated 01/05/2021 Summary Notification No. 14/2021- Central Tax [G.S.R. 310(E)] Where, any time limit for completion or compliance of any action, by any authority or by any person, has been specified in, or prescribed or notified under the said Act, which falls during … Read more
Rajasthan state increased e-way bill generation threshold limit for intra-state movement of goods Commercial tax department of Rajasthan amended notification Notification No. F.17 (131) ACCT/GST/2017/3743 to increase e-way bill generation threshold limit to Rs. 1 lakh w.e.f 01st April 2021. Vide Notification No. F.17 (131-Pt-II)ACCT/GST/2017/6672, dated 30th March 2021, Rajasthan GST department increased e-way bill limit … Read more
List of GST Refund Circulars and Notifications This file contain list of all circulars ,notifications and order related to GST refund along with number and date of notification , circular updated up to 12/03/2021. Sr Subject Reference No. Date 44 Clarification on refund related issues i.e., Deemed Export Supply and Extension of relaxation for filing … Read more
Mandatory to quote HSN/ SAC code on invoices w.e.f 01/04/2021 CBDT vide Notification No. 78/2020 – Central Tax dated 15th October 2020, has made it mandatory to mention 4/6-digit HSN code issuing Goods and Services Tax (GST) invoices. Prior to the date , quoting of HSN /SAC code was not mandatory on invoices for taxpayers … Read more
What is compulsory registration under GST? In the GST era, businesses whose aggregate turnover exceeds specified threshold limit is required to register as a normal taxable person under section 22 of the CGST Act. However, there are certain cases under section 24 of the CGST Act, where registration under GST is mandatory irrespective of amount … Read more
If your GST Refund struck due to SB005 error CBIC provides permanent mechanism to resolve invoice mismatch. What is SB005 error? SB005 error is the most common error faced by the exporters, which arises due to mismatch of invoice number as declared in the Invoice Table in the Shipping Bill and that declared in the GST- … Read more
Submit Letter of Undertaking (LUT) for FY 2021-22 by March 31, 2021 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 to … Read more