GST Notifications

Read our blogs that comprises of all the lastest updates regarding the new developments under GST by GSTN. Check out the latest GST notification & stay GST compliant.

New Updates From NIC & Its Impact

New Updates From NIC and Its Impact

On 21st November 2020, the NIC issued new release notes i.e. Version 1.03 with respect to E-invoice generation. The improved APIs would be released on 7th December 2020 for production. The highlights of the release notes are as under: E-way bills generated directly through web/ offline/ API by taxpayers generating IRNs (currently assessees with turnover …

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Highlights Of Notifications & Circulars Issued In October 2020

Highlights Of Notification & Circulars Issued In October 2020

The Government Issued The Following GST Notifications In October 2020​: Sr. No. Notification No. Details 1 73/2020 – CT dated 1/10/2020 Regular invoices issued instead of E-invoice during October 2020 is deemed to be valid if IRN is obtained from the e-invoicing portal within 30 days from the date of issue of the invoice. 2 …

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Updates On The 43rd GST Council Meeting

Updates On The 4rd GST Council Meeting

The 43rd one-agenda, GST Council meeting was held on 12th October 2020. The meeting was chaired by the Union Finance Minister Smt. Nirmala Sitharaman. In continuation of the 42nd meeting, the single point agenda for this meeting was the discussion of GST compensation cess. While the Centre has already extended the tenure of GST compensation …

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Updates On The 42nd GST Council Meeting

Updates On The 42nd GST Council Meeting

The 42nd GST Council Meeting was held in New Delhi on 5th October 2020. The meeting was chaired by the Union Finance Minister Smt. Nirmala Sitharaman. The State Finance Ministers along with Shri Anurag Thakur, Minister of Finance for States were present for the meeting. Highlights of the meeting includes: Release Of GST Compensation Cess …

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TCS On Sale Of Goods

TCS on Sale Of Goods

Section 206C (1H) -: TCS on Sale of Goods According to Section 206C (1H), Seller of goods is required to collect tax at 0.1 % of the amount in excess Of Rs. Fifty lakhs from buyer. “Seller” means a person whose turnover exceeds rupees ten crores during the financial year immediately preceding the financial year …

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Extension Of Time Limit To Furnish Annual Return For F.Y. 2018-19

Updates on Notification Issued on 30th Sept 2020

The Government had provided an extension of the time limit to furnish Annual Return in Form 9 & 9C for the F.Y. 2018-19 till 30 September 2020 vide Notification No. 41/2020-Central Tax dated 05 May 2020.Considering the pandemic and representations received from varied industries, the time limit to furnish Annual Return for F.Y. 2018-19 has …

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Updates In GST After 41st GST Council Meeting

Updates in GST After 41st GST Council Meeting

The 41st GST Council Meeting chaired by Union Finance & Corporate Minister Smt. Nirmala Sitaraman was held on 27th August 2020 via video conferencing. The article covers the meeting highlights including the press releases with respect to earlier recommendations made in the council meetings.  Highlights Of The Meeting Includes: The meeting primarily concentrated on the …

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