The Central Board of Indirect Taxes and Customs (CBIC) has issued Circular No. 137/07/2020-GST to clarify certain challenges being faced by taxpayers in adhering to the compliance requirements under various provisions of the CGST Act, such as, advance received by a supplier for a service contract which subsequently got cancelled; goods supplied by a supplier […]
The Central Board of Indirect Taxes and Customs (CBIC) has issued Circular No. 136/06/2020-GST to clarify doubts regarding relief measures taken by the Government for facilitating taxpayers in meeting the compliance requirements under various provisions of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as the “CGST Act”) on account of the […]
40th GST Council Meeting held via video conferencing on 12th June, 2020 made following recommendations on Law and Procedure Changes. Reduction in late fees for past returns. Relief for small taxpayers for late filing of returns for periods impacted under Lock down Due to Covid-19 one time extension in period for seeking cancellation of registration.
The Central Board of Indirect Taxes and Customs (CBIC) has issued Circular 139/09/2020-GST that GST refunds related to ITC on Imports, ISD invoices, RCM will be processed based on other means of verification and not be restricted if the same is not appearing in GSTR 2A of the applicant
Numerous situations have been received from professionals and industry seeking clarification whether the GST is leviable on Director‟s remuneration paid by companies to their directors. Doubts have been raised as to whether the remuneration paid by companies to their directors falls under the ambit of entry in Schedule III of the Central Goods and Services […]
The amount of late fee payable under section 47 of the said Act shall stand waived for the months of March, 2020, April, 2020 and May, 2020, and for the quarter ending 31st March, 2020, for the registered persons who fail to furnish the details of outward supplies for the said periods in FORM GSTR-1 […]
The amount of late fee payable under section 47 shall stand waived for the tax period as specified in Notification No. 32/2020 – Central Tax ,dated 3rd April, 2020 given below, for the class of registered persons mentioned in the notification, who fail to furnish the returns in FORM GSTR-3B by the due date, but […]
