Table of Content Section 16(2) states Section 39 contains the following provisions of furnishing of Returns The proviso to section 39(9) states In the recent times, the CGST Department has been aggressively issuing notices and advisory related to section 16(4) for late filing of GSTR 3B.The Notice and advisory sent by the department is related…

Contents: Introduction Applicability of new GST return scheme Return filing Introduction: The Central Government is looking to overhaul the return filing system with a view to provide some relief to taxpayers with aggregate turnover under GST less than Rs. 5 crores. In this regard, it has released certain notifications to lay down a new scheme…

Table of Content What is Quarterly Return Monthly Payment (QRPM) Scheme? Who will be eligible under Quarterly Return Monthly Payment (QRPM) Scheme? What will be the effective date of applicability of QRMP Scheme? How and when to avail for QRMP Scheme? Whether the option to avail the QRMP Scheme is GSTIN wise? What are the…

Content: Q. Which businesses are required to generate e-invoices now? Q. Which businesses are not required to generate e- invoices? Q. When will e-Invoicing get implemented in India? Q. What is the procedure for generation of E-Invoice under GST? Q. Is an E-invoice being cancelled fully/ partially? Q. Is there any option available for e-invoice…

Content: The CBIC Provisional credit (i.e.10%) reduced to 5% under Rule 36(4) w.e.f. 1 January 2021 Narrowing the validity of E-Way bill (w.e.f. 1st January, 2021) Utilisation of electronic credit ledger for payment of output tax cannot exceed 99% of output tax liability in a month (New Rule 86B w.e.f. 1st January, 2021) Restriction on…

Interest not payable if GST return filed belatedly but amount deposited in Cash Ledger within due date? During the establishment of GST era and with the nascent GST portal, one of the most popular confusion that conned everyone was, whether payment is concluded only after the click on ‘Offset of liabilities’ or payment of GST…

Table of Content Issuance of order in Form GST REG-19 when the taxable person himself applies for the cancellation of registration Issuance of order in Form GST REG-19 when the proper officer cancels the GST registration Coverage of cancellation order in Form GST REG-19- In this case, either the taxable person is no longer liable…

Frequently Asked Questions When refund application can be filed using reason as ‘Refund on tax paid on an Intra state supply which is subsequently held to be inter-state supply and vice versa’? Ans: Refund can be claimed using refund option as “Refund on tax paid on an Intra state supply which is subsequently held to…

For availing the benefits of synergy, there is need for change in the organizational structure or business model of a business entity. Restructuring is considering an important step to expand the business. In this process, one thing which is more important i.e. unutilized Input Tax Credit (ITC), according to GST law, the unutilized Input Tax…

Content Normal audit under section 35(5) Audit by tax authorities under section 65 Special Audit under section 66 Normal Audit u/s 35(5) According to section 35(5) of CGST Act 2017, every registered person whose turnover during a financial year exceeds the prescribed limit i.e. 2cr. shall get his accounts audited by a chartered accountant or…

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