Category: Goods and Services Tax

The clarification has been issued pursuant to ambiguities existing in number of cases where the registered persons are found to be involved in issuing fake invoices to avail and utilize input tax credit. The government …

Read More "Commissioner of Commercial Taxes, Goa mandates penalty for transactions involving fake invoices"

Nil GST rates for Aquatic feed and treated sewage water.

As recommended by the GST Council, it is clarified sale of space for advertisement in souvenir book is covered under serial number (i) of entry 21 of Notification No. 11/2017-Central Tax (Rate) and attracts GST …

Read More "CBIC issues clarifications regarding applicable GST rates & exemptions on certain services."

Agreeing to the obligation to refrain from an act or to tolerate an act or a situation, or to do an act” has been specifically declared to be a supply of service in para 5 …

Read More "CBIC notifies applicability of GST on liquated damages."

Central Government has permitted manufacturers or packers or importers of pre-packaged commodities to declare the revised retail sale price (MRP) on the unsold stock prior to revision of GST, after inclusion or reduction of applicable …

Read More "Manufacturers/packers/importers of pre-packaged commodities allowed to declare the revised retail sale price (MRP) on the unsold stock prior to revision of GST"

Nil filing of GSTR-1 will not be allowed in case there is already saved records in GSTR-1. The taxpayers are advised to delete already saved records or reset GSTR-1 data by clicking RESET button available …

Read More "GSTN introduces single click Nil filing of GSTR-1."

e-Invoice is a system in which B2B invoices are authenticated electronically by GSTN for further use on the common GST portal. Under the electronic invoicing system, an identification number will be issued against every invoice …

Read More "CBIC reduces the e-invoice limit to Rs.10 crore wef 1st October 2022."

The amendment provides that every registered person shall, subject to such conditions and restrictions as may be prescribed, be entitled to avail the credit of eligible input tax, as self-assessed, in his return and such …

Read More "Goa Goods and Services Tax (Amendment) Act, 2022"

According to section 9(5) of CGST Act, 2017, Electronic Commerce Operator (ECO) is required to pay tax on supply of certain services notified by the government such as Passenger Transport Service, Accommodation services, Housekeeping Services …

Read More "GSTN introduces new Table 3.1.1 in GSTR-3B for reporting supplies u/s 9(5)."

The Central Goods and Services Tax (Amendment) Rules, 2022 which was published on 5th July 2022, notified few changes in Table 4 of Form GSTR-3B requiring taxpayers to report information on ITC correctly availed, reversal …

Read More "GSTN issues advisory on upcoming changes in GSTR-3B."