Please note Form GSTR 9 once filed cannot be revised. During the preparation of the GSTR 9 with the help of completed reconciliation, many issues have been raised by professional as well as taxpayers. In this respect we have compiled the issues with their possible solution with respect to filing of this Annual return which are being clarified as …
Common issues and their possible solution in annual return GSTR9 Read More »
Role of chartered accountant or a cost accountant in certifying reconciliation statement: There are apprehensions that the chartered accountant or cost accountant may go beyond the books of account in their recommendations under FORM GSTR-9C. The GST Act is clear in this regard. With respect to the reconciliation statement, their role is limited to reconciling …
Clarification regarding Annual Returns (GSTR-9 & 9C) and Reconciliation Statement Read More »
1. GST Council proposed to extended date for filing GSTR-9/9C/9A from 30.06.2019 to 30.08.2019 for all taxpayers. 2. The date of blocking of E-waybill for not filing returns has also been extended by two Months. 3. New registration will be linked with Aadhar OTP. 4. Electronic invoicing approved by GST. No separate E-waybill will be …
Highlights of GST Council Decision on dated 21.06.2019 Read More »
The 35th GST Council Meeting was held here today under the chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. This was the first meeting of the Council after the swearing in of the new Government. The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur …
GST Council decision relating to changes in law and procedure Read More »
Proposed New GST Returns Monthly/Quarterly (NORMAL) return-Form GST RET-1 Quarterly SAHAJ Return-Form GST RET-2 Quarterly SUGAM Return-Form GST RET-3 Old GST Returns to be removed GSTR – 1 i.e. detail of outward supplies GSTR – 2A i.e Auto-populated detail of inwards supplies GSTR – 3B i.e summary return containing summary of Outward supplies, details of …
All abount new GST Return Forms Normal, Sahaj and Sugam Read More »
ITC Rules in GSTR 3B for set off Tax credit The government has amended CGST Act 2017 vide CGST Amendment Act 2018 with various changes w.e.f and one of the important amendment was made in Section 49 of CGST Act by introducing new section 49A & 49B after the section 49, which is as under: 49A. Notwithstanding anything …
How to adjust Input Tax Credit with GST Payable as per New Rules ? Read More »
The issue of availability of ITC on Free Sample and Gifts distributed As per Section 7(1)(a) of CGST Act, supply includes all forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be made for a consideration by a person in …
Comparison of Liability declared and ITC claimed enabled in GST Portal The Goods and Service Tax Network (GSTN) has enabled a new functionality in the GST Portal “Comparison of Liability declared and Input Tax Credit claimed” What is Comparison of Liability declared and Input Tax Credit claimed The statement is called as Credit and Liability …
GSTN has enabled a new functionality in the GST Portal Read More »
Under GST Law, Export of goods or services can be made without payment of integrated tax under the provisions of rule 96A of the Central Goods and Services Tax Rules, 2017 (the CGST Rules). Under the said provisions, an exporter is required to furnish a bond or Letter of Undertaking (LUT) to the jurisdictional Commissioner …
What is Letter of Undertaking (LUT) and How to Renew ? Read More »
