07 Sep 2020

GSTR 2B - It's Functionality

By Admin
Category Goods and Service Tax
Views 531

On the recommendation of the GST Council Meeting held on March 14, 2020, a new return form namely Form GSTR-2B has been introduced. It is an auto-populated input tax credit (ITC) statement for a registered person under the GST regime.

05 Sep 2020

GST Registration Online Process: Latest Updates

By Admin
Category Goods and Service Tax
Views 458

Latest Process for Registration Under GST

Recently, the Central Govt has introduced a new process for GST registration w.e.f 21st August 2020 vide Notification No. 62/2020-Central Tax dated 20th August 2020. The Aadhar authentication has been kept optional as per now, but considering the benefits, we would advise you to go for it.

06 Aug 2020

Availability of Form GSTR-4 on the GST Portal

By Admin
Category Goods and Service Tax
Views 508

As per the latest tweet of GSTN Tech (@Infosys_GSTN) dated 21^st July, 2020, it is informed that the functionality to file GSTR-4 (Annual Return) is now available on the common portal.

Form GSTR-4 is a return that has to be filed by a composition dealer on an annual basis by 30th of April, following a financial year with effect from 1^st April, 2019.

04 Aug 2020

NET ITC FORMULA CAN COVER INPUT SERVICES AS WELL : GUJARAT HC

By Admin
Category Goods and Service Tax
Views 898

The Hon’ble Gujarat High Court has pronounced a landmark judgement in the case of VKC Footwear on 24.07.2020 and has held that the formula used for calculation of refund of “Net ITC” under the inverted tax structure can cover both input and “input services” as well.

28 Jul 2020

Clarification on GST Rate on Alcohol-based Hand Sanitisers

By Admin
Category Goods and Service Tax
Views 433

Ministry of Finance vide Press Release dated July 15, 2020, has issued a clarification on the issue of GST Rate on Alcohol-based Hand Sanitisers.

This clarification seeks to declutter the matters surrounding the “Alcohol-Based Hand Sanitisers” since many representations seeking exemption under GST for hand sanitisers being classified as essential goods in the wake of COVID-19 pandemic have been filed.

This clarification has decisively put to rest the rumours about the applicability of GST on hand sanitisers.