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Standard Operating Procedure (SOP) to be followed by exporters: Circular no.131/2020
Importance: (SOP) to be followed by suppliers is covered in this circular. This is the text of circular no. 131/2017 issued by CBIC.It has prescribed the standard operating procedure for exporters in GST. As you are aware, several cases of monetization of credit fraudulently
CA Shafaly GirdharwalGST deptt started advisory for reversal of ITC of 2018-19
Advisory for reversal of ITC of 2018-19 As you know there are various restrictions on availing and utilization of input tax credit. Section 16(4) of the CGST Act restricts the ailment of ITC after the due date ff filing of return of September. At present,
CA Shafaly GirdharwalLease & rental Services With or Without Operators under GST Scenario
Lease & rental Services With or Without Operators under GST Scenario: Dear professional colleagues, Good morning to all of you. I have received suggestions from our friends on services relating to “Lease & Rental Services With or Without Operators” under GST Scenario. I am preparing an
New due dates for GSTR 3b filing
New due dates for GSTR 3b filing As a big relief to the taxpayers, a press release has been issued. Please take note that the notifications are yet to release. According to this press release the due dates for GSRR 3b will be as follows.
CA Shafaly GirdharwalDelay in refund – Right of assessee to claim interest from department
Introduction: In this article, an attempt has been by the public_profile to explain exhaustively various situations in which the assessee would be entitled to claim interest in the event of delay in refund of amount withheld by the Department without any justifiable reasons. Background 1.
GST for Dadra and Nagar haveli Press release
GST for Dadra and Nagar haveli Press release Cabinet approves Amendments/Extension/Repeal in Acts dealing with Goods and Services Tax, Value Added Tax and Excise Duty in view of merger of Dadra & Nagar Haveli and Daman & Diu Posted On: 22 JAN 2020 3:31PM by
GST AUDIT – IS IT A PANACEA – By K SRINIVASAN (IRS, RETD.)
THE question of audit is always purely private. There cannot be an official audit by the Government of the business premises or offices of the taxpayers. In case of any specific information or belief, that some evasion is suspected, then a visit to the premises
Deptt is all set to block ITC of fake invoices
Deptt is all set to block ITC of fake invoices: Rule 86A(1a) inserted into CGST Rules. It made a huge hue and cry. The right to block ITC on the basis of fake invoices. But the department is all set to block this ITC. A
Impact Of GST On Real Estate Sector
GST on real estate: A detailed analysis The Real Estate industry is one of the largest sectors in the country and is a major contributor in the growth of Indian economy. This industry is one of the rapidly growing sectors in India since the factors
Impact of Changes on 01-01-2020 on GST in J&K and Ladakh
Impact of Changes on 01-01-2020 on GST in J&K and Ladakh: Note: 1. Jurisdictional tax officer of transferor and transferee state should should be informed about transfer of ITC along with copy of ITC and the amount of adjustment made with in one month from
Implications of Notification 01/2020 dated 01-01-2020
Implications of Notification 01/2020 dated 01-01-2020 on the various GST related provisions of Finance No. 2 Act 2019 Finance No.2 Act 2019 was enacted on 01-08-2019. GST related amendments are contained in section 92 to section 116 of the Finance Act. As per section
Summary of GST provisions notified from 1.01.2020
GST provisions notified from 1.01.2020: Notification No. 01/2020 – Central Tax Notification No. 01/2020 – Central Tax has notified the date of applicability of some provisions of GST from 01012020. Let us have a look at its summary. Summary of important provisions notified: 92 Amendment
CA Shafaly Girdharwal