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Snippet of 27th GST Council Meeting

Some key updates of 27th GST Council meeting held on 4th May 2018 1. GSTN Ownership Changing: Change in the Shareholding Pattern of GSTN: Currently 24.5% held by Central and States Governements each, Balance 51% by Non-Govt Institutions. In New System Central and State Governements...

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User friendly filing of GSTR-3B : GSTN

Guidelines issued by GSTN for User friendly filing of GSTR-3B: a) While proceeding to payment you can see details of balances as available in cash and credit ledgers at one place. Tax liabilities as declared in GSTR 3B along with the credits gets updated in the...

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Bombay High Court on Goods and Service Tax Tran-1 blockage

Bombay High Court on Goods and Service Tax Tran-1 blockage Abicor and Binzel Technoweld Pvt Ltd v Union of India [Writ Petition (L) No 2230 of 2018] ✍ Bombay High Court has taken serious notice of the fact that GST Network (GSTN) is not working...

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Guidelines for filing GSTR-1,GSTR-3B,TRAN-1

A. GSTR-1 (Quarterly filing option): Following points to be noted by Taxpayer, who have opted for quarterly filing of Form GSTR-1: 1. Once you have chosen the option ‘Quarterly’, you cannot change this option in the remaining part of the financial year 2017-18. Thus, you...

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New Developments from GSTN (Goods and Services Tax Network)

GSTN ( The Goods and Services Tax Network ), went live on November 8, 2016 last year, has over the year improvised the system to help lakhs of businesses to pay taxes and file returns under the new GST era every month. GSTN launches new...

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New functionalities made accessible on GST Portal

Following new functionalities have been made available to taxpayer on GST Portal: 1. GSTR-2 Offline Version 2.1 – New version of GSTR-2 offline tool is available on portal now. This will enable taxpayers to export data of GSTR-2 from Tool to Excel. This will be...

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CBEC issues 8 Notifications related to CGST & IGST

In a bid to roll out GST from 1st July, 2017, the Central Board of Excise and Customs (CBEC) has notified 6 notifications for Central Goods and Service tax (CGST) and 2 notifications for Integrated Goods and Service Taxes (IGST) includes two rules — registration...

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GST registration related announcement by GSTN Portal

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GSTN Portal has published Important Information related to GST Registration. The way forward: 1. If you are a Taxpayer having received Acknowledgement Reference Number (ARN): You should be able to download the Provisional Registration Certificate from “Download Certificates” at GST website from 27th June 2017....

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E-commerce operators under GST

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Furnishing of statement of supplies by an e-commerce operator under GST It is pertinent to note that if any person makes any taxable supplies through e-commerce platform than it mandatory to register irrespective of whether threshold limit for registration is triggered or not. E-commerce operators...

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Preparing for GST ? Here are some leads…

GST

Background The GST Council has, in the recent past, made quick progress towards its goal of implementing a new tax across India viz. Goods and Services Tax or simply “GST”. GST has been implemented in more than 140 countries across the world. However, India’s journey...

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