Circular No 248/05/2025 The Government has issued Circular No 248/05/2025 for Various issues related to the availment of benefit of Section 128A of the CGST Act. The circular mainly consist of two questions : Issue 1: Whether the cases where tax has been paid through return in FORM GSTR-3B instead of through FORM GST DRC-03, … Read more
Certain Clarification regarding GST Rates and Classification of Goods GST Circular No 247/04/2025 has been issued for Certain Clarification regarding GST Rates and Classification of Goods. This clarification has been issued based on recommendation of the 55th GST Council Meeting held on 21-12-2024 at jaisalmer. Key Points of Clarification 1. GST Rate on Pepper of genus … Read more
Clarification on Late fee for Delay in filing Form GSTR-9C Government has issued Clarification on Late fee for Delay in filing Form GSTR-9C . Many Taxpayers have asked whether they need to pay late fee if they file the reconciliation statement in Form GSTR-9C after the due date of annual return (GSTR-9). To clarify the … Read more
Certain Clarification on applicability of GST on certain services 1. GST Not applicable on Penal Charges levied by Banks and NBFCs. As per the 55th GST Council ‘s recommendation, no GST is payable on penal charges imposed by banks and NBFCs for loan non compliance under RBI’s 18-08-2023 guidelines. 2. GST Exemption for Payment Aggregator … Read more
Regularization of GST on Co-Insurance Premium Apportionment and Reinsurance Commission CBIC has issued the circular for Regularization of GST on Co-Insurance Premium Apportionment and Reinsurance Commission.The clarification issued based on the 53rd GST Council meeting held on 22-06-2024 provides guidance on the tax treatment on certain insurance related transactions that have been retrospectively added in … Read more
Clarification on Place of Supply for Online Service GST Circular No 242/36/2024 has been issued for Clarification on Place of Supply for Online Service.This point was proposed in 55th GST Council Meeting. The proposal states when online service supplying to unregistered person the supplier must mention the customer’s state on the invoice to resolve confusion … Read more
Clarification on ITC availability on Goods delivered under Ex-Works Contract GST Clarification has been issued on Clarification on ITC availability on Goods delivered under Ex-Works Contract.In the GST Council it has been proposed that to clarify the buyer is eligible to claim the Input Tax Credit on goods under Ex-Works Contract, provided all the condition … Read more
Clarification on ITC availed by E-commerce Operator for services u/s 9(5). GST Circular has been issued on ITC availed by E-commerce Operator for services u/s 9(5). This point has been proposed in 55th GST Council Meeting held on 21-12-2024. Proposed Clarification in GST Council Meeting: The GST Council has proposed clarification stating that E-commerce Operator … Read more
Clarification on Adjudication of Show Cause Notice issued by DGGI GST Circular has been issued for Clarification on Adjudication of Show Cause Notice issued by DGGI. Lets Understand this in simple way. How the Changes take Place? In 2017- Notification No 02/2017-CT dated 19-06-2017 specifies that which tax officers had jurisdiction for various GST Related … Read more
Summary of Clarification on Section 128A of CGST Act,2017 GST Circular has been issued for Clarification on Section 128A of CGST Act,2017. Section 128A allows the taxpayer to get waiver of Interest, penalty or both for certain tax demands related to section 73. This waiver applies to FY 2017-18, 2018-19 and 2019-20 only if certain … Read more