COMPOSITION TAX RATE Amendment in Rule 7 of Central Goods and Services Tax Rules, 2017 (CGST Rules) has been made wherein tax rates under composition scheme have been prescribed. Tax rates applicable in case of composition levy shall be as under: Section Applicable Category of…
Key Decision and Recommendations of 40th GST Council Meeting GSTR-3B for May, June and July 2020 for small taxpayers Relief for small taxpayers (aggregate turnover uptoRs. 5 crore) | GSTR-3B for May, June and July, 2020 Waiver of late fees and interest if the returns…
Relevant Provisions Schedule III of the CGST Act, 2017 contains activities or transactions which shall neither be treated as supply of goods nor a supply of services Entry No. 1 of the same schedule has been mentioned below for reference “Services by an employee to…
CBIC Vide Circular No. 139/09/2020 dated 10th June, 2020 has clarified in respect of invoices which are not appearing in the GSTR-2A of Applicant who has filed refund application on account of accumulated ITC, The clarification has been issued to ensure uniformity in the implementation…
Validity of E-way Bill (EWB) shal be deemed to have been extended till 30th June, 2020; where EWB was generated on or before 24th March 2020 and Validity of EWB has expired on or after 20th March, 2020 Earlier, validity of EWB had been extended…
Where a notice has been issued for rejection of refund claim either in full or in part and where time limit for issuance of order in terms of the provisions of Section 54(5) and 54(7) falls during the period from 20th March, 2020 to 29th…
The time limit for Special procedure as notified in Notification No. 10/2020 – Central Tax has to be followed till 31st July, 2020 instead of 31st May, 2020 Who has to follow special procedure ? those persons whose principal place of business or place of…
The Government Notifies 8th June, 2020 as the date from which provisions relating to filing of NIL Return in Form GSTR-03B via SMS shall come into force. Rule 67A of the CGST Rules 2017 / Rule 3 of CGST (Fifth Amendment) Rules, 2020 contains provisions in…