Advisory for Opting in for Composition (filing Form GST CMP-02) 18/02/2020 Who can opt in for Composition :- Eligible existing registered taxpayers can opt in for composition, for financial year 2020-21, by filling up Form GST CMP-02. Composition scheme shall be effective from 1st April 2020. When to opt in for Composition:- Prior to the … Read more
Revised due date for filing GSTR3B for the month of January to March 2020, for the taxpayers located in the state of Maharashtra Month Turnover > 5Cr in FY 2018-19 Turnover < 5Cr in FY 2018-19 January 2020 20/02/2020 22/02/2020 February 2020 20/03/2020 22/03/2020 March 2020 20/04/2020 22/04/2020 #Source Notification No. 07/2020 – Central Tax … Read more
State-wise due date for GSTR-3B Considering the difficulties faced by trade and industry in filing of returns, the Government has decided to introduce filing of their GSTR-3B returns in a staggered manner. Presently the last date of filing GSTR-3B returns for every taxpayer is 20th of every month. From April 2020 onward, the last date for … Read more
New GST Return types and its applicability Return Type When is it Selected? What are you supposed to do? Return Frequency Return Forms SAHAJ · Aggregate turnover during preceding financial year is up to Rs. 5.00 Cr AND · Taxpayer is making supplies only to consumers, (B2C) or/and · Have inward supplies on which tax … Read more
As a GST practitioner you must be aware about late fees for delayed filing of GSTR-1 (Yes, you are correct GSTR-1!). As per Section 47 of CGST Act, 2017, Any registered person who fails to furnish the details of outward or inward supplies required under section 37 or section 38 or returns required under section 39 or section … Read more
Are you GST Return non-filer? Here is what you should know about procedure to be followed by GST department in case of non-filers. Following is the procedure to be followed by GST department in cases of GST returns non-filers. (i) At least 03 days Before due date of filing GST returns a system generated message … Read more
GSTR 9C- New offline tool available finally ! Most awaited updated Offline Utility of GSTR – 9C is finally available on https://www.gst.gov.in/download/gstr9c Few changes in release 1.5 : Multiple fields now accept negative values. Column 14S made optional Cash flow statement is now optional. Multiple changes in certificate as amended. Fixed some records stuck as … Read more
Last date for filing GSTR-3B has been extended to December 23, 2019. #Flash News On www.gst.gov.in Also check CBIC tweet @ https://twitter.com/cbic_india/status/1208329188425363456?s=09 #Update to blog date 23/12/2019 Access notification issued on 23/12/2019 http://cbic.gov.in/resources//htdocs-cbec/gst/notfctn-73-central-tax-english-2019.pdf
E-Invoices under GST The GST Council has approved introduction of ‘E-invoicing’ or ‘electronic invoicing’ in a phased manner for reporting of business to business (B2B) invoices to GST System, starting from 1st January 2020. Who is liable to prepare e-invoices? Registered person, whose aggregate turnover in a financial year exceeds one hundred crore (Rs. 20 … Read more
Forms available on GST Portal for Taxpayers and Tax Officials Government has issued various forms for GST related compliances to be made by taxpayers and for taking actions on them by tax officials. Various forms issued for registration, filing returns or refunds etc. have been made available on the GST Portal. To know the details … Read more