Goods and Services Tax

Goods and Services Tax – GST Dated:- 9-10-2020 – News – The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana has arrested one Md. Shamshad Saifi resident of New Delhi on charges of creating and operating fictitious firms on forged documents and passing fake input tax credit by way of issuance of invoices without any actual receipt or supply of goods or services. It is apparent from the investigation conducted till date, that Md. Saifi created two companies by the name of M/s Techno Electrical and M/s Lata Sales based at New Delhi on basis of bogus and forged documents in the name of non-existent persons at addresses not even pertaining to firms. M/s Techno passed on fraudulent ITC of &#8377

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Goods and Services Tax – GST Dated:- 9-10-2020 – News – Vide notification No. 69/2020 Central Tax, dated 30.09.2020 , the due date for furnishing of the Annual Return for the FY 2018-19 has been extended till 31.10.2020. Certain representations have been received stating that the auto populated GSTR 9 for the year 2018-19 (Tables 4, 5, 6 and 7) also includes the data for FY 2017-18. However, this information for FY 2017-18 has already been furnished by the taxpayers in the annual return ( GSTR 9 ) filed for FY 2017-18 and there is no mechanism to show the split of two years (2017-18 2018-19) in FORM GSTR-9 for 2018-19. In this regard, it is clarified that the taxpayers are required to report only the values pert

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Goods and Services Tax – GST Dated:- 9-10-2020 – News – An intelligence was developed by the officers of DGGI that few exporter companies were engaged in fraudulent availment of Input Tax Credit (ITC) on the invoices of non-existing and fictitious firms or such firms which apparently do not have any purchases themselves. The ITC so availed was utilized to pay IGST on the export goods, which was thereafter claimed as cash refund. Thus, the government exchequer was put at double loss on one hand ITC was obtained on goods where no tax was paid and on the other hand IGST paid from such fraudulently availed ITC was obtained as cash refund. The amount of IGST refund obtained is estimated to be approx. ₹ 61 crore. DGGI, Hqrs. searche

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Goods and Services Tax – GST Dated:- 6-10-2020 – News – The 42nd GST Council met under the Chairmanship of Union Finance Corporate Affairs Minister Smt Nirmala Sitharaman through video conferencing here yesterday. The meeting was also attended by Union Minister of State for Finance Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States UTs and senior officers of the Ministry of Finance States/ UTs. The GST Council has made the following recommendations: 1. Levy of Compensation Cess to be extended beyond the transition period of five years i.e. beyond June, 2022, for such period as may be required to meet the revenue gap. Further details to be worked out. 2. Centre is releasing compensation of ₹ 20,000 crore to States today towards loss of revenue during 2020-21 and an amount of about ₹ 25,000 crore towards IGST of 2017-18 by next week. 3. Enhancement in features of return filing: In its 39 th Me

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r words, the timely filing of GSTR-1 statement alone would be sufficient as the return in FORM GSTR-3B would get auto prepared on the common portal. To this end the Council recommended / decided the following: a. Due date of furnishing quarterly GSTR-1 by quarterly taxpayers to be revised to 13 th of the month succeeding the quarter w.e.f. 01.1.2021 ; b. Roadmap for auto-generation of GSTR-3B from GSTR-1s by: i. Auto-population of liability from own GSTR-1 w.e.f. 01.01.2021 ; and ii. Auto-population of input tax credit from suppliers GSTR-1 s through the newly developed facility in FORM GSTR-2B for monthly filers w.e.f. 01.01.2021 and for quarterly filers w.e.f. 01.04.2021 ; c. In order to ensure auto population of ITC and liability in GSTR 3B as detailed above, FORM GSTR 1 would be mandatorily required to be filed before FORM GSTR-3B w.e.f. 01.04.2021. d. The present GSTR-1 / 3B retu

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digits for B2B supplies of both goods and services for taxpayers with aggregate annual turnover upto ₹ 5 crores; c. Government to have power to notify 8 digit HSN on notified class of supplies by all taxpayers. 6. Amendment to the CGST Rules: Various amendments in the CGST Rules and FORMS have been recommended which includes provision for furnishing of Nil FORM CMP-08 through SMS. 7. Refund to be paid/disbursed in a validated bank account linked with the PAN Aadhaar of the registrant w.e.f. 01.01.2021. 8. To encourage domestic launching of satellites particularly by young start-ups, the satellite launch services supplied by ISRO, Antrix Corporation Ltd. and NSIL would be exempted. Note :- The decisions of the GST Council have been presented in this note in simple language for easy understanding. The same would be given effect to through Gazette notifications/ circulars which alone shall have force of law.

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Goods and Services Tax – GST Dated:- 3-10-2020 – News – The Government had in December 2019 prescribed that the GST Taxpayers having aggregate annual turnover more than ₹ 100 crore in any preceding Financial Year will be required to issue e-invoice for all the Business to Business (B2B) supplies, in the manner prescribed under rule 48(4) of the CGST Rules, 2017 w.e.f. 1 st April 2020. Further, it was also mandated under rule 48 (5) of the CGST Rules, 2017 that a B2B invoice or an export invoice issued by such a taxpayer, in any other manner, shall not be treated as an invoice. In March 2020, the date of implementation of e-invoice was extended to 1 st October 2020. Keeping in view the hardships faced by the taxpayers

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such non-adherence to provisions, shall stand waived if the Invoice Reference Number (IRN) for such invoices is obtained from the Invoice Reference Portal (IRP) within 30 days of date of invoice. The same is illustrated with an example: In case a registered person has issued an invoice dated 3 rd October, 2020 without obtaining IRN but reports the details of such invoice to IRP and obtains the IRN of the invoice on or before 2 nd November, 2020 , then it shall be deemed that the provisions of rule 48 (5) of the CGST Rules, 2017 are complied with and the penalty imposable under section 122 of the CGST Act, 2017 shall also stand waived. Relevant notifications would follow. It may be noted that no such relaxation would be

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Goods and Services Tax – GST Dated:- 1-10-2020 – News – New Delhi, Oct 1 (PTI) – The country's GST collections grew 4 per cent to a high of ₹ 95,480 crore in September, indicating that economic recovery is in sight. Goods and Services Tax (GST) mop-up in September 2019 stood at ₹ 91,916 crore. The Finance Ministry in a statement said the gross GST revenue collected in September 2020 is ₹ 95,480 crore, out of which Central GST is ₹ 17,741 crore, State GST is ₹ 23,131 crore, Integrated GST is ₹ 47,484 crore (including ₹ 22,442 crore collected on import of goods) and cess is ₹ 7,124 crore (including ₹ 788 crore collected on import of goods). In September 2020, the tax col

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ction is an encouraging sign for the economy. It is expected that the revenue collection should continue to improve as we approach the festive season . Deloitte India Senior Director M S Mani said a modest increase of 4 per cent in the GST collections compared to the previous year indicates that the economic recovery process is underway, with some key large states also reporting increased collections. If the present trends of GST collections continue, we should be hopeful of significant increases in the coming months based on the unlockdown steps taken in various states and the festival season ahead, Mani added. EY Tax Partner Abhishek Jain said with a significant part of the economy resuming operations and international trade ga

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Goods and Services Tax – GST Dated:- 1-10-2020 – News – GST Revenue collection for September, 2020 ₹ 95,480 crore gross GST revenue collected in September The gross GST revenue collected in the month of September, 2020 is ₹ 95,480 crore of which CGST is ₹ 17,741 crore, SGST is ₹ 23,131 crore, IGST is ₹ 47,484 crore (including ₹ 22,442 crore collected on import of goods) and Cess is ₹7,124 crore (including ₹ 788 crore collected on import of goods). The government has settled ₹ 21,260 crore to CGST and ₹ 16,997 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular settlement in the month of September, 2020 is ₹ 39,001 crore for CGST and ₹ 40,128 crore for the SGST. The revenues for the month are 4% higher than the GST revenues in the same month last year. During the month, the revenues from import of goods

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4 5% 4 Chandigarh 157 141 -10% 5 Uttarakhand 1017 1065 5% 6 Haryana 4110 4712 15% 7 Delhi 3386 3146 -7% 8 Rajasthan 2253 2647 17% 9 Uttar Pradesh 5073 5075 0% 10 Bihar 986 996 1% 11 Sikkim 209 106 -49%

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1509 1656 10% 21 Odisha 2015 2384 18% 22 Chattisgarh 1490 1841 24% 23 Madhya Pradesh 2087 2176 4% 24 Gujarat 5741 6090 6% 25 Daman and Diu 89 15 -83% 26 Dadra and Nagar Haveli 125 225 79% 27 Maharastra 13579 13546 0% 29 Karnataka 6350

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Goods and Services Tax – GST Dated:- 21-9-2020 – News – As per provision in Sections 7 , 8 10 of the GST (Compensation to States) Act, 2017 , the issue of pending GST compensation and future course of action to meet the GST compensation shortfall has been discussed in 41 st GST Council meeting on 27.08.2020 in the light of the opinion given by Ld. Attorney General of India, wherein States were given two options to meet their GST compensation shortfall for current FY from market borrowing. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance Corporate Affairs in a written reply to a question in Rajya Sabha today. However, some States/UTs have suggested Central Government to borrow money from market and compensate States to meet GST revenue shortfall. In this regard, it is submitted that Central Government continues to remain engaged with the States who have not given either of the options, the Minister stated. Shri Thakur said that the d

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ding National Capital Territory), suitable arrangements to ensure flow of resources under the Special Window to them would be made by the Government of India The interest on the borrowing under the Special Window will be paid from the Cess as and when it arises until the end of the transition period. After the transition period, principal and interest will also be paid from proceeds of the Cess, by extending the Cess beyond the transition period for such period as may be required. The State will not be required to service the debt or to repay it from any other source. States will also be given permission to borrow the final instalment of 0.5% (originally intended as a bonus for completing at least three of the four specified reforms) allowed in para 4 of the Department of Expenditure s OM F.No. 40(06)/PF-S/2017-18 dated 17-5-20 (hereinafter referred to as DOE OM) even without meeting the pre-conditions. This will enable borrowing of approximately ₹ 1 lakh crores in aggreg

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on Cess each year would be the interest payable; the second charge would be the principal repayment. The remaining arrears of compensation accrued during the transition period would be paid after the interest and principal are paid. Option 2 The entire shortfall of ₹ 235,000 crores (including the Covid-impact portion) may be borrowed by States through issue of market debt. The GOI will issue an OM committing to repayment of principal on such debt from Cess proceeds as per para IV below. Appropriate enhanced special borrowing permission will be given by the GOI under Article 293 based on the following methodology, in modification of scheme notified earlier under the DOE OM: a. Each state s borrowing limits for the year will be based on the following calculation: Basic eligibility (3 % of GSDP) + Amount allowed for shortfall as per Item I above of Option 2+ up to 1% of GSDP (reform-linked as per paras 5 to 8 of DOE OM)

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97,000 crores approximately in aggregate) the borrowing will not be treated as debt of the State for any norms which may be prescribed by the Finance Commission etc. The Compensation Cess will be continued after the transition period until such time as all arrears of compensation for the transition period are paid to the states. The first charge on the future Cess would be the principal repayment. The remaining arrears of compensation accrued during the transition period would be paid after the principal is paid. The Minister also stated that it was also decided that States will give their preference and views thereon. Thereafter on finalisation of scheme, the states can choose either Option 1 or Option 2 and accordingly their compensation, borrowing, repayment etc will be dealt as per their individual choice. Abstract of the opinion of the Ld. Attorney General is as per Annexure . Click on the following link: Annexure – News – Press release – PIB Tax Managem

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FAQs and User Manual – Matching Offline Tool – Goods and Services Tax – GST Dated:- 17-9-2020 – News – – News – Press release – PIB Tax Management India – taxmanagementindia – taxmanagement – taxmanagementindia.com – TMI – TaxTMI – TMITax

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Goods and Services Tax – GST Dated:- 14-9-2020 – News – New Delhi, Sep 14 (PTI) The GST collection during April-August declined on account of COVID-19 induced lockdown, and the compensation due to states stands at over ₹ 1.51 lakh crore, Minister of State for Finance Anurag Singh Thakur said on Monday. The provisional GST compensation due to states/UTs for 2020-21 was highest for Maharashtra at ₹ 22,485 crore, followed by Karnataka (₹ 13,763 crore), Uttar Pradesh (₹ 11,742 crore), Gujarat (₹ 11,563 crore) and Tamil Nadu (₹ 11,269 crore). The compensation due to West Bengal stands at ₹ 7,750 crore, Kerala (₹ 7,077 crore), Punjab (₹ 6,959 crore), Delhi (₹ 6,93

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or Option 2 and accordingly, their compensation, borrowing, repayment etc will be dealt as per their individual choice, he added. In the current fiscal year, states are staring at a staggering ₹ 2.35 lakh crore Goods and Services Tax (GST) revenue shortfall. Of this, as per the Centre's calculation, about ₹ 97,000 crore is on account of GST implementation and the rest ₹ 1.38 lakh crore is due to the impact of COVID-19 on states' revenues. The Centre late last month gave two options to states to borrow either ₹ 97,000 crore from a special window facilitated by the RBI or ₹ 2.35 lakh crore from market and also proposed extending the compensation cess levied on luxury, demerit and sin goods

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Goods and Services Tax – GST Dated:- 1-9-2020 – News – GST Revenue collection for August, 2020 ₹ 86,449 crore of gross GST revenue collected in the month of August The gross GST revenue collected in the month of August, 2020 is ₹ 86,449 crore of which CGST is ₹ 15,906 crore, SGST is ₹ 21,064 crore, IGST is ₹ 42,264 crore (including ₹ 19,179 crore collected on import of goods) and Cess is ₹7,215 crore (including ₹ 673 crore collected on import of goods). The government has settled ₹ 18,216 crore to CGST and ₹ 14,650 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular settlement in the month of August, 2020 is ₹ 34,122 crore for CGST and ₹ 35,714 crore for the SGST. The revenues for the month are 88% of the GST revenues in the same month last year. During the month, the revenues from import of goods were 77%

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Punjab 1,255 1,139 -9% 4 Chandigarh 160 139 -13% 5 Uttarakhand 941 1,006 7% 6 Haryana 4,474 4,373 -2% 7 Delhi 3,517 2,880 -18% 8 Rajasthan 2,550 2,582 1% 9 Uttar Pradesh 4,975 5,098 2% 10 Bihar 981 967 -1% 11 Sikkim 163

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20 Jharkhand 1,770 1,498 -15% 21 Odisha 2,497 2,348 -6% 22 Chattisgarh 1,873 1,994 6% 23 Madhya Pradesh 2,255 2,209 -2% 24 Gujarat 6,185 6,030 -3% 25 Daman and Diu 103 70 -32% 26 Dadra and Nagar Haveli 159 145 -9% 27 Maharashtra 13,407 11,602 -13% 29

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Goods and Services Tax – GST Dated:- 29-8-2020 – News – Two new tables have been inserted in GSTR-2A for displaying details of import of goods from overseas and inward supplies made from SEZ units / SEZ developers. Taxpayers can now view their bill of entries data which is received by the GST System (GSTN) from ICEGATE System (Customs). The present data upload has been done on a trial basis to give a feel of the functionality and to get feedback from the taxpayers on the same. Currently,

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Goods and Services Tax – GST Dated:- 29-8-2020 – News – The GST Council, in its 39 th meeting held on 14 th March 2020, had recommended to adopt and implement the incremental approach of linking the present system of filing of GSTR-3B and GSTR-1 and other significant changes like enhancements in GSTR-2A and its linking to GSTR-3B . One such enhancement that the Council recommended was introduction of an auto-drafted input tax credit (ITC) statement which would aid in assisting / determining the input tax credit that is available for every taxpayer. GSTR-2B is going to be such an auto-drafted ITC statement which will be generated for every registered person on the basis of the information furnished by h

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l be made available shortly. A summary statement which shows all the ITC available and non-available under each section. The advisory given against each section clarifies the action to be taken by the taxpayers in their respective section of GSTR-3B ; Document level details of all invoices, credit notes, debit notes etc. is also provided both for viewing and download; GSTR-2B for the month of July 2020 has been made available on the common portal on trial basis. Since, this is the first time that the statement is being introduced, taxpayers are advised to refer to GSTR-2B for the month of July, 2020 only for feedback purposes . All taxpayers are requested to go through their GSTR-2B for July 2020 a

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Goods and Services Tax – GST Dated:- 29-8-2020 – News – The two borrowing options to meet the GST Compensation requirement for 2020-21 consequent to the discussions in the 41st meeting of the GST Council held on 27th August, 2020 has been communicated to States, as per the document attached with this press note, to communicate their preference within seven working days. A meeting of State Finance Secretaries with the Union Finance Secretary and Secretary (Expenditure) is scheduled to be hel

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Goods and Services Tax – GST Dated:- 27-8-2020 – News – New Delhi, Aug 27 (PTI) A crucial meeting of the GST Council on compensating states for revenue shortfall began on Thursday with the states ruled by non-NDA parties opposing the Centre's move to ask states to borrow to meet the deficit. The 41st meeting of the Goods and Services Tax (GST) Council headed by Union Finance Minister Nirmala Sitharaman and comprising representatives of all states, held deliberations via video conferencing on ways to make up for the shortfall in states' revenues, sources said. While Congress and the states ruled by non-NDA parties pushed for the Centre meeting its statutory obligation of covering the deficit, the Union government cited a legal opinion to say it had no such obligation if there was a shortfall in tax collections. The Centre as well as BJP-JD(U)-ruled Bihar were of the opinion that the states should borrow to make up for the shortfall in the tax revenues that have bee

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at was hailed as the biggest tax reform. At that time, the Centre had promised to compensate states for any revenue loss for five years from a pool created by levying cess over and above the GST on luxury and sin goods. GST collections including that of compensation cess had been falling short of the targets even before the pandemic, making it difficult for the Centre to compensate the states. States are supposed to receive half of the GST receipts. While the kitty of GST compensation cess may have lagged targets, the Centre has raised cess on items such as petrol and diesel, which have been kept out of the GST regime. This collection, which totals to several thousand crores of rupees, is not shared with states. Mitra wanted the Centre to make good the losses to states from this collection. Under no circumstances, states should be asked to borrow from the market as it will increase their debt servicing liability. Further, it may lead to cut in state expenditure which is

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fund by providing the sufficient amount to be credited to the corpus. Sources said the options before the Council for meeting the shortfall could be to rationalise GST rates, cover more items under the compensation cess or increase the cess, or recommend higher borrowing by states to be repaid by the future collection into the compensation fund. Under the GST law, states were guaranteed to be compensated bi-monthly for any loss of revenue in the first five years of the GST implementation from July 1, 2017. The shortfall is calculated assuming a 14 per cent annual growth in GST collections by states over the base year of 2015-16. Under the GST structure, taxes are levied under 5, 12, 18 and 28 per cent slabs. On top of the highest tax slab, a cess is levied on luxury, sin and demerit goods and the proceeds from the same are used to compensate states for any revenue loss. The GST Council has to decide how to meet the shortfall in such circumstances and not the central govern

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Goods and Services Tax – GST Dated:- 26-8-2020 – News – The Central Board of Indirect Taxes Customs (CBIC) today clarified that the Notification No. 63/2020-Central Tax dated 25th August 2020 relating to interest on delayed payment of GST has been issued prospectively due to certain technical limitations. However, it has assured that no recoveries shall be made for the past period as well by the Central and State tax administration in accordance with the decision taken in the 39th Meetin

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Goods and Services Tax – GST Dated:- 1-8-2020 – News – New Delhi, Aug 1 (PTI) Finance Minister Nirmala Sitharaman on Saturday said the Attorney General's view on GST compensation was sought after consultation with the states and a meeting of the GST Council would be held to discuss the legal opinion. The finance minister was responding to a question on apprehensions raised by certain states about the reported AG opinion on GST compensation. This matter was discussed in the GST Council meeting when it met last time. Members expressed their views on the matter and it was decided that legal opinion should be taken from AG, Sitharaman told reporters here. The GST Council, chaired by the Union finance minister a

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imposition of cess started dwindling since August 2019 and the Centre had to dive in to the excess cess amount collected during 2017-18 and 2018-19. Under the Goods and Services Tax (GST) law, states were guaranteed to be compensated bi-monthly for any loss of revenue in the first five years of the GST implementation from July 1, 2017. The shortfall is calculated assuming a 14 per cent annual growth in GST collections by states over the base year of 2015-16. Under the GST structure, taxes are levied under 5 per cent, 12 per cent, 18 per cent and 28 per cent slabs. On top of the highest tax slab, a cess is levied on luxury, sin and demerit goods and the proceeds from the same are used to compensate states for any revenue loss.

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Goods and Services Tax – GST Dated:- 1-8-2020 – News – GST Revenue collection for July 2020 ₹ 87,422 crore gross GST revenue collected in July The gross GST revenue collected in the month of July, 2020 is ₹ 87,422 crore of which CGST is ₹ 16,147crore , SGST is ₹ 21,418 crore , IGST is ₹ 42,592 crore (including ₹ 20,324 crore collected on import of goods) and Cess is ₹7,265 crore (including ₹ 807crore collected on import of goods). The government has settled ₹ 23,320 crore to CGST and ₹ 18,838 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular settlement in the m

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Goods and Services Tax – GST Dated:- 27-7-2020 – News – Central Government has recently released GST Compensation of ₹ 13,806 crore to States for March 2020. Taking this amount into account, entire compensation upto 2019-20 has been released to States. The total amount of compensation released for the year 2019-20 is ₹ 1,65,302 crore whereas the amount of cess collected during the year 2019-20 was ₹ 95,444 crore. To release the compensation for 2019-20, balance of cess amount collected during 2017-18 and 2018-19 was also utilised. In addition, Centre had transferred ₹ 33,412 crore from Consolidated Fund of India to the Compensation Fund as a part of an exercise to apportion balance of IGST pertainin

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7 Goa 1093 8 Gujarat 14801 9 Haryana 6617 10 Himachal Pradesh 2477 11 J K 3281 12 Jharkhand 2219 13 Karnataka 18628 14 Kerala 8111 15 Madhya Pradesh 6538 16 Maharashtra

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Goods and Services Tax – GST Dated:- 27-7-2020 – News – A case was booked against M/s. Fortune Graphics Limited, M/s. Reema Polychem Pvt. Ltd. M/s. Ganpati Enterprises, who were found involved in issuance of invoices without any actual supply of goods. The case was detected and developed by the officers on further data analytics out of a case booked against one of the exporters, M/s Anannya Exim, covered in the all India joint operation launched by DGGI-DRI in September 2019, against various exporters for fraudulently claiming IGST refund on the strength of ineligible ITC. During the investigations conducted by the DGGI Hqrs, it has emerged that the aforesaid three Companies/Firms namely M/s. Reema Polychem Pvt. Ltd., M/s. Fortune Gr

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Goods and Services Tax – GST Dated:- 22-7-2020 – News – Acting on specific intelligence the Directorate General of Goods and Service Tax Intelligence, Headquarters (DGGI, Hqrs) has unveiled a racket of clandestine clearance of cigarettes through a factory run in Kota. Searches were conducted at various places in Kota and Nagaur on 17.07.2020, including the factory, trading firms, godowns, secret offices and residences of beneficiaries. During the search, incriminating documents and e

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Goods and Services Tax – GST Dated:- 21-7-2020 – News – What is Form GSTR-4 Annual Return : – With effect from 1 st April, 2019, all Composition Taxpayers are required to file Form GSTR-4 Annual Return, on annual basis , for each financial year. Who are required to file Form GSTR-4 Annual Return : All registered taxpayers who have opted for composition scheme or were under composition scheme under GST, for any period during a financial year, starting from 01.04.2019, need to file Form GSTR-4 Annual Return, annually. Who can file NIL Form GSTR-4 Annual Return : Nil Form GSTR-4 Annual Return can be filed for the financial year, if you have, for all applicable quarters of the year,:

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GSTR-4 Annual Return, once filed, can t be revised After successfully filing, ARN will be generated and intimated through email and SMS Currently only the online filing has been enabled on the portal. Shortly, offline tool to file Form GSTR-4 Annual Return will also be made available. How it is different from Form GSTR-4 Quarterly Return : Please note that this Form GSTR-4 Annual Return is different from the Form GSTR-4 Quarterly Return, which was required to be filed on a quarterly basis. Form GSTR-4 Quarterly Return is applicable up to tax period ending on 31 st March, 2019, for composition taxpayers. For tax periods till the quarter ending March, 2019, Composition Taxpaye

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Goods and Services Tax – GST Dated:- 15-7-2020 – News – The issue of GST rate on alcohol based hand sanitizers has been reported in few sections of media. . It is stated that hand sanitizers attract GST at the rate of 18%. Sanitizers are disinfectants like soaps, anti-bacterial liquids, dettol etc which all attract duty standard rate of 18% under the GST regime. The GST rates on various items are decided by the GST Council where the Central Government and all the state gov

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Goods and Services Tax – GST Dated:- 3-7-2020 – News – New Delhi, Jul 3 (PTI) – The maximum fee for delayed filing of monthly and quarterly sales return and tax payment form GSTR-3B till July 2020 has been capped at ₹ 500 per return. In a major relief to the GST taxpayers, the government has decided to cap the maximum late fee for form GSTR-3B at ₹ 500 per return for the tax period July 2017 to July 2020 subject to the condition that such GSTR -3B returns being filed b

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FAQs – Filing Nil Form GSTR-1 through SMS – Goods and Services Tax – GST Dated:- 2-7-2020 – News – – News – Press release – PIB Tax Management India – taxmanagementindia – taxmanagement – taxmanagementindia.com – TMI – TaxTMI – TMITax

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