CBIC provided relief by waiving late fees for filing GSTR 3B Relief by waiving late fees for filing GSTR 3B Notification No 15 days from the due date of furnishing return for the months of March & April 2021 in case of Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year, 30 days ...
A brief summary is as under: Rule 23(1)is amended to allow the filing of an application for revocation of cancellation of registration within a period of 30 days from date of service of the order of cancellation or within such time period as extended by the Additional Commissioner or the Joint Commissioner or the Commissioner, as the case may be. ...
Outline: MSME Importers who do not have any manufacturing facility can now avail IGCR2017 to Import goods at a concessional customs duty and get the final goods manufactured entirely on Job work basis. (Gold/ Jewellery / Precious metals have been excluded ) In view of demands from trade and Industry and having regard to their changing needs as per prevalent ...
Prelude:As the current Exports Incentive schemes Published in India’s Foreign Trade policy are being challenged in WTO by various countries for providing Exports Incentives which is against the Article 3.1of the WTO subsidies and countervailing agreement and moreover, the Incentive rates are getting reduced every year and procedure complexities are more in claiming the same at the right time which ...
Extension in dates of various GST Compliances for GST Taxpayers vide Central Tax Notification Nos. 10/2021, 11/2021, 12/20211, 13/2021, 14/2021, all dated 1st May, 2021.The details are summarized below: Filing of Form GSTR-1/IFF by Normal Taxpayers: Sl. No. Return Type(Form) To be filed by Tax period Due Date Due Date Extended till Notification No. 1 Form GSTR-1 (Monthly) Normal Taxpayer ...
Here are the significant changes in GST which will be applicable from April 1, 2021. Tax Invoice (B2C) Tax Invoice (B2B) E-Invoicing GSTR1 GSTR-9 Tax Invoice (B2C)Self-generated Dynamic QR Code mandatory for B2C Tax Invoice for suppliers above INR 500 Cr turnover
1. What is Tax Collected at Source on sales of goods (TCS)?This document covers the functionality of Tax Collected at Source (TCS) applicable on sale of goods. It describes how to do basic setup for TCS on sale of goods, check applicability of TCS, calculate monthly TCS for a customer or by a group of customers. Also covered are TCS on ...
30 day grace period for those who are not yet ready for GST e-invoice : CBIC As a last chance, in the initial phase of implementation of e-invoice, it has been decided that the invoices issued by such taxpayers during October 2020 without following the manner prescribed under rule 48(4), shall be deemed to be valid and the penalty leviable ...
E-invoicing is a new reform which entails the generation of invoices in an electronic format, which facilitates machine readability across ERP and tax systems.
What is the best time to cancel an e-invoice for the supply of goods?
