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Circular clarifying issues in respect of challenges faced by registered persons in implementation of provisions of GST issued – Reg vide Circular No. 137/07/2020-GST

 Friday, April 17, 2020 Read More

Clarification in respect of various measures announced by the Government for providing relief to the taxpayers in view of spread of Novel Corona Virus (COVID-19) – Reg vide Circular No. 136/06/2020-GST

 Friday, April 17, 2020 Read More

CBIC issued notification seeks to extend due date for furnishing FORM GSTR-3B for supply made in the month of May, 2020 vide N/N 36/2020-Central Tax ,dt. 03-04-2020.

 Friday, April 17, 2020 Read More

CBIC issued notification seeks to extend due date of compliance which falls during the period from "20.03.2020 to 29.06.2020" till 30.06.2020 and to extend validity of e-way bills vide N/N 35/2020-Central Tax ,dt. 03-04-2020.

 Friday, April 17, 2020 Read More

CBIC issued notification seeks to extend due date of furnishing FORM GST CMP-08 for the quarter ending March, 2020 till 07.07.2020 and filing FORM GSTR-4 for FY 2020-21 till 15.07.2020 vide N/N 34/2020-Central Tax ,dt. 03-04-2020.

 Friday, April 17, 2020 Read More

CBIC issued notification seeks to provide relief by conditional waiver of late fee for delay in furnishing outward statement in FORM GSTR-1 for tax periods of February, 2020 to April, 2020 vide N/N 33/2020-Central Tax ,dt. 03-04-2020

 Friday, April 17, 2020 Read More

CBIC issued notification seeks to provide relief by conditional waiver of late fee for delay in furnishing returns in FORM GSTR-3B for tax periods of February, 2020 to April, 2020 vide N/N 32/2020-Central Tax ,dt. 03-04-2020.

 Friday, April 17, 2020 Read More

CBIC issued notification seeks to provide relief by conditional lowering of interest rate for tax periods of February, 2020 to April, 2020 vide N/N 31/2020-Central Tax ,dt. 03-04-2020.

 Friday, April 17, 2020 Read More

CBIC issued notification seeks to amend CGST Rules (Fourth Amendment) in order to allow opting Composition Scheme for FY 2020-21 till 30.06.2020 and to allow cumulative application of condition in rule 36(4) vide N/N 30/2020-Central Tax ,dt. 03-04-2020

 Friday, April 17, 2020 Read More

CBIC issued the notification seeks to amend notification No. 1/2017-Central Tax (Rate) to prescribe change in CGST rate of goods vide N/N 03/2020-Central Tax (Rate) ,dt. 25-03-2020.

 Friday, April 17, 2020 Read More

CBIC issued the notification seeks to amend Notification No. 11/2017-Central Tax (Rate) dt. 28.06.2017 reducing CGST rate on Maintenance, Repair and Overhaul (MRO) services in respect of aircraft from 18% to 5% with full ITC vide N/N 02/2020-Central Tax (Rate) ,dt. 26-03-2020.

 Friday, April 17, 2020 Read More

Circular No. 136/06/2020-GST Dated : 03.04.2020

Rule 36(4) of CGST Rule restricts the claim of ITC in GSTR 3B. According to this rule ITC claim is restricted to 10% above the ITC as per GSTR 2A

Considering the lock down situation, the Government has relaxed the provisions of Rule 36(4). Therefore, for the GST returns relating to periods from February 2020 to August 2020, ITC as per Books can be claimed without considering the ITC as per GSTR 2A. This short term relaxation is a very welcome move for the Trade & Industry.

However, the ITC claimed has to be matched in a consolidated manner with GSTR 2A before filing GSTR 3B of September 2020. for Filing GSTMonthly returns .

Saturday, April 4, 2020

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