November 13, 2019
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Procedure for Invoicing & Declaration of turnover during the period of suspension of registration has been amended– Rule 21A
The Rule 21A talks about the suspension of the registration. The sub rule 3 specifies, in case of suspension, the supplier should not make any taxable supplies. Which is leading to interpretation of holding up the activities till the date of revocation. Hence, an explanation has been inserted for Rule 21(3) to clarify that the … "Procedure for Invoicing & Declaration of turnover during the...
November 13, 2019
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Filing of Annual return has been made optional for the registered person with T/O < 2 crores.
The govt. has notified that, filing of annual return is optional for the tax payers with turnover up to 2 Crores for the financial year. However, such option has been provided only for the Financial years 2017-18 and 2018-19. Further, it is specified that, if the tax payer doesn’t file the same with in the … "Filing of Annual return has been made optional for...
November 12, 2019
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Due dates for GSTR-3B and GSTR-1 for Oct’19-Mar’20 have been notified
Notification / Order Return Related to Period Due date 44/2019 GSTR-3B_Monthly All Oct’19-Mar’20 20th of following month 45/2019 GSTR-1_Quarterly Persons with t/o < 1.5Crs Oct’19-Dec’19 31-Jan-20 Jan’20-Mar’20 30-Apr-20 46/2019 GSTR-1_Monthly All Oct’19-Mar’20 11th of following month Notes: It is planned to introduce the new returns from Apr’20, unless the same are postponed, the GSTR-1 and 3B … "Due dates for GSTR-3B and GSTR-1 for Oct’19-Mar’20 have...
November 12, 2019
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The total ITC claimed should not be more than 120% of the credit available as per Invoices / Debit notes appearing in GSTR-2A – Rule 36(4)
1. New sub-rule 36(4) has been inserted to specify that the total credit availed on invoices & Debit notes not appearing in GSTR-2A should not exceed 20% of the matched and eligible credit. 2. The effective date for the same haven’t beennotified. Hence, the same shall be effective from the date of notification i.e. 09-Oct-2019 … "The total ITC claimed should not be more than...
