13 Oct 2020

Clarifications Regarding Availment of ITC for the Period February 2020 - August 2020

By Admin
Category Goods and Service Tax
Views 462

Rule 36(4) of CGST Rules, 2017 states that Input Tax Credit (ITC) availed by a registered person while furnishing GSTR-3B shall not exceed 110% of ITC furnished by his suppliers in GSTR-2A.

30 Sep 2020

Delinking of Debit/Credit notes with Tax Invoices

By Admin
Category Goods and Service Tax
Views 424

Debit Credit Notes Delinked with Tax Invoices

In pursuance of Section 34 of CGST Act, 2017, the issuance and reporting of Debit/Credit Notes by the supplier in Form GSTR – 1 along with corresponding tax invoice number and date, i.e., one debit/credit note to be issued against one tax invoice.

25 Sep 2020

Reduction in Late Fee for not Furnishing GSTR - 4 & GSTR – 10

By Admin
Category Goods and Service Tax
Views 1514

Section 47 of Central Goods & Services Tax Act, 2017 (CGST Act, 2017) deals with the registered persons who fails to furnish the details of outward or inward supply required under Section 37 or 38.

24 Sep 2020

Extension of Time Limit for the Compliances of Persons Selling Goods on an Approval Basis

By Admin
Category Goods and Service Tax
Views 441

CGST Act, 2017 which states that goods being sent or taken on approval for sale or returns are removed.

15 Sep 2020

HC ALLOWS TRAN-1 AFTER DUE DATE CHALLENGED BEFORE SC

By Admin
Category Goods and Service Tax
Views 340

The petitioner is engaged in the trading of the steel pipes. He was entitled to claim the credit of excise duty available to him in the pre-GST regime and for that he was required to file Form TRAN-1 within 90 days. But, due to the technical glitches faced by the taxpayers on the common portal, the time limit for availing the transitional credit was extended again and again and ended up to December 27, 2017.