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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Clarifications Regarding Filing of GST Annual Return (FORM GSTR-9) – Released on 4th June 2019

The Annual Return in the form GSTR-9 for FY 2017-18 is to be filed by 30th June 2019. However, there have been many inconsistencies in the form requiring suitable amendment therein.

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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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12 Mistakes to Avoid while Preparing Invoice Data

Invoicing your sales, no matter how basic it may sound, is an essential aspect of business that every taxpayer registered under GST needs to master.

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GSTIN – The Fingerprint to your Business Identity

GSTIN is an abbreviation for Good and Service Tax Identification Number, which is a 15 digit, unique registration number given to every taxpayer registered under GST.

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Zero Rated Supply Under GST

In India, GST is not applicable to any exports, which makes all the exports in India, Zero Rated Supplies. As per Section 16 of the IGST Act

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Automated Refunds for Exporters under GST

The revenue department under GST have plans to introduce a faceless scrutiny of refunds to hasten the claim settlement process.

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Recovery of Tax under GST – Special Provisions

If a registered taxpayer does not file his/her GST returns on the given due date, he is liable to be penalised as per the notice sent by the government in form GSTR 3A.

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GSTR 3A – Notice on Non-Filing of GST Returns and Paying GST as EMI

If a taxpayer fails to file his\her returns, the taxpayer receives a notice from the government in form GSTR 3A. Know more about the payment structure here!

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ITC Claim When Consideration is Paid through Book Adjustment

The GST Act and rules made there under does not restrict the recipient from claiming the ITC when consideration is paid through book adjustment.

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Important GST Notifications Issued on 23rd April 2019

A registered taxpayer will not be eligible to generate e-way bill on the GST portal if the taxpayer: Paying tax under composition scheme has not furnished the returns for two consecutive tax period;

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