Reporting 6% rate in GSTR-1 | New GST Advisory

The GSTN has released a new advisory on 10-05-2022 regarding the 6% reporting rate in GSTR-1. As per GST Notification No. 02/2022, a new tax rate of 6% IGST or 3% CGST+ 3% SGST has been introduced on certain commodities. Taxpayers who must report items at this rate may do so temporarily by reporting the entries under the 5% category and then manually increasing the system computed tax amount to 6%.

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Union Budget 2022: Important GST Changes

The finance bill 2022 was announced the same day as Union Budget that listed key changes in GST that can significantly impact taxpayers and business owners across all spheres. In this article, we discuss the key areas that have seen multiple changes in GST laws and rules.

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The 9th amendment of the CGST Rules 2021 – Latest Updates

9th amendment of the CGST Rules 2021 | The 9th Amendment of CGST Rules 2017 was recently updated by the CBIC by exercising the powers conferred by section 164. Read more...

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The 8th Amendment of CGST Rules 2021 – Latest Updates

The 8th Amendment of CGST Rules was recently updated by the Central Board of Indirect Taxation and Customs (CBIC) via GST Notification 35/2021 - Central Tax, dated 24-09-2021. The changes were made to update and amend the existing CGST Rules 2017. There are multiple changes to the act. You can read the full article to get the complete details.

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Summaries of the latest GST circulars 165 and 166 – November 2021

Summaries of the latest GST circulars 165 and 166 - November 2021 | Circular 165 offers clarification regarding the applicability of Dynamic QR Code on B2C invoices while 166 offers clarification regarding refund-related issues...

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Summary of Circular 164: GST Rates and Classification of Goods/Services

Read the Summary of GST Circular 164. It is all about GST Rates and Classification of Goods/Services | Latest GST Circulars and Notifications

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Generation of E-way Bill where the Principal Supply is Supply of Services

Taxpayers, traders and transporters were facing a lot of issues while generating e-way bills for movement of those goods where their principle supply is classifiable as a service since there is no provision for generating e-way bills by entering SAC (Service Accounting Code-Chapter 99) alone on the E-way Bill Portal. Thus this advisory was released to offer a solution for the same.

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8 FAQs Around GST Annual Return – GSTR 9

Annual GST Return - Everything you want to know about GSTR9, GSTR9A, GSTR9B, GSTR9C filing. A statement that every taxpayer needs to file annually.

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Section 168 Of CGST Act – Power To Issue Instructions Or Directions

The Section 168 of CGST Act 2017 covers all the details for Power to issue instructions or directions GST Act 2017.

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Procedural Aspects of Sabka Vishwas (LDRS) Scheme

What is Sabka Vishwas – Legacy Dispute Resolution Scheme? Sabka Vishwas (LDRS) Scheme, 2019, a dispute resolution and amnesty scheme under GST, shall come into force from September 1, 2019.

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Sabka Vishwas – Legacy Dispute Resolution Scheme (LDRS)

The Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019,(SVLDRS) application has been made available online from 1-9-19.

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Part V of GSTR 9 Explained: Particulars of Transactions Declared in Monthly Returns

The annual return is divided into 6 parts, Part I covers basic details while Part II is for outward supplies. Part III is important section covering ITC related reports in Table 6, Table 7 and Table 8.

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