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New RCM Liability/ITC Statement on GST Portal
Goods and Services TaxGovernment of India, States and Union TerritoriesIntroduction of RCM Liability/ITC StatementAug 23rd, 2024To assist taxpayers in correctly reporting Reverse Charge Mechanism (RCM...
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Advisory for furnishing bank account details before filing GSTR-1/IFF
Goods and Services TaxGovernment of India, States and Union TerritoriesAdvisory for furnishing bank account details before filing GSTR-1/IFF Notification No. 38/2023 – Central Tax New Delhi, the 4th A...
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New Invoice Management System (IMS) on GST Portal from Oct 2024
Goods and Services TaxGovernment of India, States and Union TerritoriesInvoice Management SystemTo enable taxpayers to efficiently address invoice corrections/amendments with their suppliers through t...
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Recent CBIC Circulars: Key Highlights on Corporate Guarantees, Outstanding Dues, and Refund Procedures.
Recent CBIC Circulars: Key Highlights on Corporate Guarantees, Outstanding Dues, and Refund ProceduresOn July 11, 2024, the Central Board of Indirect Taxes and Customs (CBIC) issued a series of circul...
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SCN Reply - Clarification on Summons Issued Under Section 70 of the CGST Act, 2017
Date: [Insert Date]To,The Proper Officer,GST Department,[City]Subject: Clarification on Summons Issued Under Section 70 of the CGST Act, 2017Dear Sir/Madam,We acknowledge the receipt of the summons is...
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SCN Reply - Appeal for Waiver or Reduction of Late Fees on GSTR-9 Submission for FY 2019-20
Date: [Insert Date]To,The Proper Officer,GST Department,[City]Subject: Request for Waiver or Reduction of GSTR-9 Late Fees for FY 2019-20Dear Sir/Madam,I am writing to address the issue of late fees i...
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SCN Reply - Response to Show Cause Notice: Non-Reversal of Input Tax Credit on Post-Sale Discounts
Date: [Insert Date]To,The Proper Officer,[Insert GST Department Name][City, State, Pincode]Subject: Justification for Non-Reversal of Input Tax Credit (ITC) on Post-Sale Discounts/Incentives via Comme...
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SCN Reply - Request for Release of Vehicle and Goods Detained Due to Invoice Number Discrepancy
Date: [Insert Date]To:The Proper Officer,[Name of the Office],[Address of the Office],[City, State, PIN Code]Subject: Request for Release of Vehicle and Goods Detained Due to Invoice Number Discrepanc...
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Updates on CBIC Circulars: Corporate Guarantees, Dues Recovery, and Refunds.
Updates on CBIC Circulars: Corporate Guarantees, Dues Recovery, and RefundsOn July 11, 2024, the Central Board of Indirect Taxes and Customs (CBIC) issued several Circulars following the 53rd GST Coun...
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SCN Reply - Response to Show Cause Notice: Request for Reconsideration of Refund Application Rejection
Date: [Date]To,The Proper Officer,GST Department,Circle [Insert Circle],City [Insert City]Subject: Request for Reconsideration of Refund Application Rejection Due to Alleged Non-Compliance with Rule 1...
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SCN Reply - Response to Show Cause Notice Regarding GST Liability on OIDAR Services
To,The Proper Officer,[Department Name/Division][Department's Address]City, State, PincodeSubject: Response to Notice No. [Insert Notice Number] dated [Insert Date] Concerning GST Liability on OIDAR S...
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Draft Certificate - Draft Certificate for Input Tax Credit for Unreflected Invoices in GSTR-2A
Subject: Draft Certificate for Input Tax Credit for Unreflected Invoices in GSTR-2A From,[Your Name/Your Company`s Name][Your Address]City, State, PincodeGSTIN: [Your GSTIN]Dear [Recipient's Name],Thi...
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Understanding the New Form GSTR-1A: A Comprehensive Guide
Introduction to GST and GSTR-1AGoods and Services Tax (GST), a type of indirect tax, was introduced in India on July 1, 2017, revolutionizing the taxation system by replacing multiple taxes levied by...
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IGST Refund on Upward Price Revisions for Exported Goods: A New Mechanism
SummaryThe Central Board of Indirect Taxes and Customs (CBIC) has introduced a new mechanism to address the issue of additional Integrated Goods and Services Tax (IGST) paid on upward price revisions...
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Conditional Waiver of Interest/Penalty under Section 128A of CGST Act
BackgroundThe Government, on the recommendation of the GST Council, has introduced Section 128A of the CGST Act, 2017 to provide a conditional waiver of interest and penalties for demand notices issue...
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Decoding the Latest GST Amendments: A Comprehensive Guide to Notification No. 12/2024–Central Tax
1. IntroductionIn a significant move to refine the Goods and Services Tax (GST) framework, the Central Board of Indirect Taxes and Customs (CBIC) has unveiled Notification No. 12/2024–Central Tax. Thi...
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Simplifying Tax and Penalty Determination: Understanding Section 74A of the GST Act, 2017
The Evolution of GST: A New EraThe Goods and Service Tax Act (GST) continues to evolve, with the introduction of Section 74A for the 2024-25 financial year. This new provision replaces the existing Se...
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Detailed Manual and FAQs on filing of GSTR-1A
In an effort to enhance transparency and compliance in tax filings, the Government of India, through notification no. 12/2024 dated 10th July 2024, introduced Form GSTR-1A. Effective from the July 202...
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Advisory in respect of Changes in GSTR 8: TCS Rate reduction wef July 10, 2024
On August 2, 2024, the Goods and Services Tax (GST) authorities issued an advisory regarding the reduction in the Tax Collected at Source (TCS) rate. Effective from July 10, 2024, the TCS rate has bee...
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GST Registration Cancellations: Reasons & 2021-2024 Data
From 2021 to mid-2024, GST registration cancellations in India have been influenced by various factors. In the last three years, the number of cancellations varied significantly across states, with ma...