Statutory Boost

  As per GST portal data policy, data of taxpayers can be retained on their portal for a maximum period of 7 years . Accordingly, data for the month of July, 2017 was not available from 1st August 2024 onwards and similarly, data for the following months will not be available for taxpayers after expiry of 7 years from the end of the relevant month. Therefore, GSTN has advised the taxpayers to download their relevant data from GST portal for any future reference.       +91-7417634371     kuldeepdiggiwal@gmail.com

The Central Board of Indirect Taxes and Customs (CBIC) has notifies via Notification no. 14/2021 - Central Tax (Rate) dated 18th November 2021 , the hike in GST rate from 5% to 12% on Fabrics , Apparel, and Footwear w.e.f. 01st January 2022 .  This decision was taken in 45th GST Council meeting to correct the problem of Inverted Duty Structure faced by a small segment of the textile value chain. Particulars of Items Old rate New Rate Apparels 5% - for items having value upto ₹ 1000/- 12% - for items having value above ₹ 1000/- 12% for items of any value Footwear 5% - for items having value upto ₹ 1000/- 12% - for items having value above ₹ 1000/- 12% for items of any value Feel free  to contact in case of any query or consultation.                  +91-7417634371     kuldeepdiggiwal@gmail.com

Government had earlier temporarily suspended the blocking of E way bill generation facility on account of COVID-19 pandemic.  In terms of Rule 138E(a) and (b) of the CGST Rules, 2017 , the E Way Bill generation facility of a person is liable to be restricted, in case the person fails to file their return in Form GSTR-3B / statement in CMP-08, for consecutive two tax periods or more, whether Monthly or Quarterly. Now, the blocking of EWB generation facility has been resumed on the EWB portal for all the taxpayers .  It has also been stated that from the tax period August, 2021 onwards , the System will periodically check the status of returns filed in Form GSTR-3B or the statements filed in Form GST CMP-08 as per the regular procedure followed before pandemic, and block the generation of EWBs as per rule. To avail EWB generation facility on EWB Portal on continuous basis, you are, therefore, advised to file your pending GSTR 3B returns/ CMP-08 Statement on regular basis. For mo...

CBIC has provided various relaxation to GST Taxpayers through various notifications which are summarised as under : Extension in facility of return filing through EVC mode for companies [ Notification No. 32/2021- Central Tax, dated 29th August 2021 ] -  The filing of   FORM GSTR-3B  and  FORM GSTR-1 /  IFF  by companies using electronic verification code (EVC), instead of Digital Signature certificate (DSC) has already been enabled for the period from 27th April 2021 to 31st August 2021.  This has been further extended to 31st October, 2021.   Extension in last date for availing benefit of Amnesty Scheme [Notification No. 33/2021- Central Tax, dated 29th August 2021] - The Government, vide Notification No. 19/2021- Central Tax, dated 01st June 2021 , had provided relief to the taxpayers by reducing / waiving late fee for non-furnishing FORM GSTR-3B for the tax periods from July, 2017 to April, 2021 , if the returns for these tax periods are fur...

Central Goods and Services Tax (Sixth Amendment) Rules, 2021 (effective from 1st August 2021) CBIC via Notification no. 30/2021 dt. 30th July, 2021  has notified amended Rule 80 of Central Goods and Services Tax Rules, 2017 which provides rules regarding Annual Return. The following amendments were made : Threshold limit for filing FORM GSTR-9C has been increased from ₹ 2 crores to ₹ 5 crores. In rule 80(3), the words " furnish a copy of audited annual accounts and a reconciliation statement, duly certified in FORM GSTR-9C", has been replaced with " furnish a self-certified reconciliation statement as specified under section 44 in FORM GSTR-9C along with the annual return referred to in sub-rule (1)" In FORM GSTR-9, FY 2019-20 has been replaced with FY 2020-21, wherever applicable . Part-B of FORM GSTR-9C providing Certification has been omitted. Further , via Notification No. 31/ 2021 dt 30th July, 2021  CBIC has exempted registered persons, whose aggregate tur...

  CGST (Fourth) Amendment Rules, 2021 (effective from 18th May, 2021)      ·         Rule 23 of CGST Rules, 2017 – It deals with time limit for making an application for revocation of registration. It was required to be filed within 30 days from the date of order of cancellation of registration. Now, after amendment , the   Additional Commissioner or the Joint Commissioner or the Commissioner has been granted a power to extend such time limit. Accordingly, Instructions for filling FORM GST REG-21 has also been amended. As per the amendment, “in rule 23, in sub-rule (1), after the words “date of the service of the order of cancellation of registration”, the words and figures “or within such time period as extended by the Additional Commissioner or the Joint Commissioner or the Commissioner, as the case may be, in exercise of the powers provided under the proviso to sub-section (1) of section 30,” shall be inserted” ...