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Timeline – Payment of Interest on Net Cash Liability – GST
Timeline – Payment of Interest on Net Cash Liability – GST 1. 31st GST Council Meeting held on 22nd December 2018 – Agenda Item 7(xx): Proposal for amendment of Section 50 of CGST Act, 2017 to allow payment of interest on net cash liability –
Interest on Net Cash Liability
Interest on Net Cash Liability Amendment to Section 50 notified w.e.f. 01.09.2020 Section 100 of Finance Act inserting a proviso to Section 50(1) has been notified w.e.f. 01.09.2020 vide Notification No. 63/2020-CT dated 25.08.2020. The proviso to Section 50(1) Interest on net cash liability where •
Revised Guidelines for the Conduct of Personal Hearings in the Virtual Mode
Instruction To, All Principal Chief Commissioner/ Chief Commissioner (Customs, CGST & Central Excise) All Principal Commissioner/ Commissioner (Customs, CGST & Central Excise) Pr. ADG/ ADG DRI (Adjn)/ DGGI (Adjn) All Commissioner (Appeals) (Customs, CGST & Central Excise) Subject: Revised guidelines for the conduct of personal hearings in the
Process of Aadhaar Authentication while applying for New Registration on GST Common Portal
In this article we will discuss about Aadhaar Authentication Procedure while applying for New Registration on GST Common Portal. Aadhaar authentication has been mandated w.e.f 21/08/2020, at the time of taking new registration on the common portal. N/N 62/2020-CT brings an amendment to CGST Rules,
Detailed Analysis of GSTR 9 and GSTR 9C
Detailed Analysis of GSTR 9 and GSTR 9C Requirement of Audit Annual Return Section 44(1): A registered person is required to furnish an annual return. Reconciliation & Audit Section 35(5): Requirement to get accounts and other records audited by a CA/CWA if aggregate turnover during
Online Information Database Access And Retrieval: OIDAR
Online Information Database Access And Retrieval: OIDAR OIDAR Services are a category of services whose Delivery is mediated through the internet & its supply is essentially automated involving minimum or zero human intervention also its supply is impossible without information technology. Examples of OIDAR services:
Input Service Distributor (ISD)
Input Service Distributor (ISD) Definition – As per Section 2(61) of CGST Act,2017, Input Service Distributor means an office of the supplier of goods or services or both which receives tax invoices issued under section 31 towards the receipt of input services and issues a
Non-Resident Taxable Person (NRTP) (Section 2(77) Of CGST ACT)
Non-Resident Taxable Person (NRTP) (Section 2(77) Of CGST ACT) “Non-resident taxable person” means any person who ➢ Occasionally undertakes transactions ➢ Involving the supply of goods or services or both ➢ Whether as principal or agent or in any other capacity ➢ But who has
GSTR-3B: FAQ
GSTR-3B: FAQ Table Summary Details of GSTR-3B 3.1 Details of Outward Supplies and inward supplies liable to reverse charge Nature of Supplies Taxable Value Integrated Tax CGST CGST (a) Outward taxable supplies (other than zero-rated, nil rated and exempted) (b) Outward
Casual Taxable Person (CTP) (Section 2(20) of CGST Act)
Casual Taxable Person (CTP) (Section 2(20) of CGST Act) Casual Taxable person means a person who Occasionally undertakes transaction involving the supply of goods or services or both In the course or furtherance of business Whether as a principal, agent or in any other capacity,
Notification No. 62/2020–Central Tax
Notification No. 62/2020–Central Tax MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 20th August 2020 No. 62/2020–Central Tax G.S.R. 517(E).—In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017
Section 8 of Integrated Goods and Services Tax Act 2017 – Intrastate supply
Section 8 of Integrated Goods and Services Tax Act 2017 – Intrastate supply Subject to the provisions of section 10, the supply of goods where the location of the supplier and the place of supply of goods are in the same State or same Union