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Composition Scheme is a simple and easy scheme under GST for taxpayers. Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover. This scheme can be opted by any taxpayer whose turnover is less than Rs. 1.0 crore*. *CBIC has notified the increase to the threshold limit […]
GST is a trust based taxation regime wherein the registered dealer is required to self- assess his returns and determine tax liability. Audit has been defined in section 2(13) of the CGST Act, 2017 and it means the examination of records, returns and other documents maintained or furnished by the registered person under the GST Acts or the […]
Considering the difficulties being faced by taxpayers in filing GSTR-9 and GSTR-9C for FY 2017-18 it has been decided to extend the due dates in a staggered manner for different groups of States to 3rd, 5th and 7th February 2020 as under. Notifications will follow. Group 1: Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Puducherry, Telangana, Andhra […]
The CBIC vide Notification No. 07/2020 – Central Tax dated February 03, 2020, which notified the due dates for filing of monthly outward supply return i.e. GSTR – 3B for the period January 2020, February 2020 and March 2020, in the following manner as described in the below table:- Sr. No Particulars A registered person, whose principal […]
The CBIC vide Notification No. 06/2020 Central Tax dated February 03, 2020, which extends the time limit for furnishing of the Annual Return i.e. GSTR – 9 and GSTR – 9C, specified under section 44 of the said Act read with rule 80 of the CGST rules, 2017, electronically through the common portal, in respect of the […]