Reversal of ITC for Real Estate Developers

Input Tax Credit (ITC) by applying the formula stated in Annexure of notification, within the due date of 20th September.

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Introduction of Manual Checks in IGST Refunds

The Central Board of Indirect Tax and Customs (CBIC) introduced “Manual check” for its Customs and GST formation before the issuance of IGST refunds.

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Accounts and Ledgers under GST

GST council have made amendments that mandates timely and apposite maintenance of account books and ledgers by a taxpayer registered under GST rules.

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Late Fees and Penalties under GST

A registered taxpayer under GST can be liable to following offences and penalties for non-compliance to GST regulations:

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ACES Functionality Migrated and Integrated to CBIC-GST Portal

ACES or Automation of Central Excise and Service Tax is a centralised, web-based software that allows a user to automate the processes of Central Excise (CE) and Service Tax (ST) under GST.

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