Government has issued GST Advisory on for Online Compliance Pertaining to ITC mismatch -GST DRC-01C dated 14-11-2023. It is informed that GSTN has developed a functionality to generate automated intimation in Form GST DRC-01C which enables the taxpayer to explain the difference in Input tax credit available in GSTR-2B statement & ITC claimed in GSTR-3B … Read more
Government has issued GST Advisory on ITC Reversal under Rule 37A dated 14-11-2023. Vide Rule 37A of CGST Rules, 2017 the taxpayers have to reverse the Input Tax Credit (ITC) availed on such invoice or debit note, the details of which have been furnished by their supplier in their GSTR-1/IFF but the return in FORM … Read more
Government has issued GST Advisory on amnesty for appeal Filing procedures and provisions related to the amnesty for taxpayers who missed the appeal filing deadline for the orders passed on or before March 31, 2023 dated on 10-11-2023. Amnesty for Taxpayers: The GST Council, in its 52nd meeting, recommended granting amnesty to taxpayers who couldn’t … Read more
Government has issued GST Advisory on registration for Pilot Project of Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Gujarat and Puducherry dated 04-11-2023. Rule 8 of the CGST Rules, 2017 has been amended to provide that an applicant can be identified on the common portal, based on data analysis and risk … Read more
Summary of No Refunds for Polyester Film in Imitation Zari Yarn GST Notification No 20/2023- CTR has been issued for No Refunds for Polyester Film in Imitation Zari Yarn. Government has clarified that No refund on Polyester film or Plastic film used in preparation of imitation Zari thread or Yarn under inverted duty structure with … Read more
Summary of Changes in Rate of Goods effective from 20-10-2023. Serial No Product Description HS Form of Sale GST Rates (Effective from 20-10-2023) Remarks 92A Molasses 1703 5% GST Rate reduced from 28% to 5% 94A Food preparation of millet flour in powder form (Contains at least 70% Millet) 1901 Other than pre-packaged & labeled … Read more
Changes in Transportation of Passenger through E-Commerce Operator. Government has issued the Notification for Transportation of Passenger through E-Commerce Operator using Omni-Bus. Government has amend the Notification No 17/2017-Central tax (Rate) dated 28-06-2017 related to the case where E-Commerce Operator is liable to pay the tax on the service supplied through it which is applicable … Read more
No refund of Accumulated ITC in case of Builder GST Notification issued for No refund of Accumulated ITC in case of Builder. Government has amend the Notification No 15/2017 -Central tax (Rate) dated 28-06-2017 which is effective from 20-10-2023. In simple words the government saying that if you are in the business of constructing and … Read more
Forward Charge for Indian Railways starting from 20-10-2023 Government has issued the Notification No 14/2023 for Forward Charge for Indian Railways starting from 20-10-2023. To cover the supply from Indian railway under the Forward Charge mechanism, the Government has amend the Notification no 13/2017-Central Tax (Rate) dated 28-06-2017. RCM is applicable on the service provided … Read more
Summary of Restriction on ITC for Passenger Transportation GST Notification No 12/2023-CTR has been issued for Restriction on ITC for Passenger Transportation and Motor Vehicle Renting Service. In case of Transportation of Passenger and rental service of Transport vehicle with operators covered under the Heading No 9964 and 9966, supplier of Input service in the … Read more