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GST Council Newsletter for the month of January 2023
GST Council Secretariat, New Delhi On 26th January, the Country celebrated the 74th Republic Day therein honoring the adoption of our Constitution that has vested the supreme authority of the Republic...
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Model GST Audit Manual
, Gujarat, 2022 1. INTRODUCTION: 1.1. Purpose of this Manual: This model GST Audit Manual is intended to be developed as a comprehensive document which would be helpful for the audit officers of the G...
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Consultation Paper on Regulatory Framework for REITs & InvITs to issue Depository Receipts Objective
Securities and Exchange Board of India Consultation Paper on Regulatory Framework for REITs and InvITs to issue Depository Receipts Objective Objective 1. The objective of this consultation paper is t...
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Request for waiver of late fee/penalty for delay in filing GSTR-9 & GSTR-9C
Date: February 01, 2023 To, The Chairman, Central Board of Indirect Taxes & Customs, New Delhi Respected Sir, Sub: Request for waiver of late fee and/or penalty for delay in filing Annual Return & Rec...
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GST collection crosses Rs 1.50 lakh crore mark for third time in FY 2022-23
2nd highest Gross GST collection in January 2023, breaching earlier 2nd highest record in the Month of October 2022 Rs 1,55,922 crore gross GST revenue collected in the month of January 2023 Second hi...
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Validation enabled For all B2B transactions, selection of PoS State Code for HSN
Updates in validations Release date: 30.01.2023 1. With reference to the circular https://cbic-gst.gov.in/pdf/circular-184.pdf a new validation has been incorporated. For all B2B transactions, selecti...
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Launch of New GST Reports in ADVAIT
DIRECTORATE GENERAL OF SYSTEMS & DATA MANAGE-MENT 4th & 5th FLOOR, HOTEL SAMRAT CHANAKYAPURI, NEW DELHI – 110021 To, The Principal Chief Commissioner/Chief Commissioners of GST/Customs Zones; The Prin...
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Representation Regarding Restriction for Claiming ITC
ALL GUJARAT FEDERATION OF TAX CONSULTANTS Room No.303/B-wing, Pratyaksha Kar Bhavan, Nr. Panjrapole, Ambawadi, Ahmedabad-380 015, Gujarat, India. Email: sec.agftc@gmail.com President Adv. Hiren R. Vak...
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Representation for one-time relaxation in time limit for filing of GST appeal
Request to issue special one-time relaxation for cases where the time limit for filing of appeal u/s 107 of the CGST/SGST Act is expired and no appeal has been filed and to increase the period of cond...
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Reduce late filing fees for Form GSTR 9, GSTR 4 & GSTR 10
All India NISME and Tax Professionals Association Ref:- AIMTPA/007/22-23 Date:- 14-Jan-2023 To, Hon’ Chairman, The Central Board of Indirect Taxes and Customs, Department of Revenue, c/o Ministry of F...
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Functionality to furnish LUT for FY 2023-2024 enabled
The Goods and Services Tax Network (GSTN) has enabled the functionality to furnish a Letter of Undertaking (LUT) for the Financial Year 2023-2024 on the GST Portal. Who can furnish LUT & benefit of fu...
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GSTINs suspended: Advisory on “Initiating Drop Proceeding” by taxpayers
Recently, a functionality of Automated Drop Proceedings of GSTINs suspended due to non-filing of returns has been implemented on the GST Portal. This functionality is for the taxpayers who have filed...
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New Functionalities for Taxpayers on GST Portal in December, 2022
1. Registration 1. Automation of Drop Proceedings for taxpayers suspended upon issuance of SCN in Form GST REG-17. A taxpayer is suspended on the portal if they do not file six or more consecutive mon...
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Tamilnadu Govt. issues instructions for GST Intelligence Wing, Roving Squad
IW1/3365394/2022 Office of the Principal Secretary/Commissioner Of Commercial Taxes, Chennai-600 005. Dated: 10.01.2023 Present: Thiru Dheeraj Kumar, I.A.S., Principal Secretary/Commissioner of Commer...
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GST Council Newsletter for the month of December 2022
GST Council Secretariat, New Delhi The 481h GST Council Meeting was held on 17th December, 2022 in virtua: mode under the Chairmanship of Hon’ble Union Finance Minister. In a move to reduce the compli...
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Implementation of Recommendations of 48th GST Council Meeting
1. Reversal of ITC in case of non-payment of tax by the supplier by a specified date and mechanism for re-availment. Rule 37(1) of the CGST Rules is amended w.e.f 01.10.2022 to provide that a register...
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11 Changes in GST Utilities/Forms on GST Portal
1. Automation of Drop Proceedings for taxpayers suspended upon issuance of SCN in Form GST REG-17 ♦ A taxpayer is suspended on the portal if they do not file six or more consecutive monthly returns /q...
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Monthly GST revenues more than Rs 1.4 lakh crore for 10 straight months in a row
Rs 1,49,507 crore GST Revenue collected for December 2022, records increase of 15% Year-on-Year Monthly GST revenues more than Rs 1.4 lakh crore for 10 straight months in a row The gross GST revenue c...
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No proposal to reduce GST e-invoice threshold limit to Rs. 5 Crore
Some news reports have appeared in media today suggesting that though GST Council has recommended reducing threshold for generation of e-invoice to Rs. 5 cr wef 1.1.23, the Govt. has yet to issue noti...
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GST on Agriculture Equipment
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA STARRED QUESTION NO. *175 TO BE ANSWERED ON MONDAY, DECEMBER 19, 2022/AGRAHAYANA 28, 1944 (SAKA) GST ON AGRICULTURE EQUIPMENT *1...