Central Board of Indirect Taxs and Customs (CBIC) GST – Investigation Wing had issued an Instruction No. 01/2020-21 dated 2^nd February 2021 about specific instructions/guidelines of procedures to be followed during the search operations.

Introduction.
The GST council has introduced the QRMP scheme in the 42nd GST Council Meeting dated October 5, 2020. As denoted by its name, QRMP Scheme is a scheme to file the return quarterly but making payment on monthly basis w.e.f. January 1, 2021.
 

While paying taxes to our Government, businesses can use the credit of GST paid on the purchases like raw materials/services used for manufacturing or selling products. It is known as an Input Tax Credit (ITC).

The amounts received by the applicant, either by himself or through his agents, towards the sale of their share of flats, are not eligible to GST, if and only if the entire consideration related to such sale of apartments is received after the issuance of Completion Certificate dated 26.08.2019, as the said activities have treated neither supply of goods nor supply of service in terms of schedule III of the CGST Act 2017 subject to Clause 5(b) of the Schedule-II of the CGST Act, 2017.

The CG on the recommendation of GST Council has made several changes through various notifications dated 15^th October, 2020.