Reading Time: 6 minutesAccounts and records in GST,  Section 35 of the CGST Act,2017and Rules 56, 57 and 58 of CGST Rules, 2017 “Accounts and Records” provide that every registered person shall keep and maintain all records at his principal place of business. Further, irrespective of whether he is a registered person or not, the responsibility to maintain
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Reading Time: 4 minutesQRMP scheme,  The Central Board of Indirect Taxes & Customs (CBIC) introduced Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme under Goods and Services Tax (GST) to help small taxpayers whose turnover is less than Rs.5 crores. The QRMP scheme allows the taxpayers to file GSTR-3B on a quarterly basis and pay tax
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Reading Time: 2 minutesAuto-population of e-invoice, Certain notified taxpayers have to prepare and issue their invoices by obtaining Invoice Reference Number (IRN) from Invoice Registration Portal (IRP) (commonly referred as ‘e-invoices’). Upon successful generation of IRN, details of such e-invoices will be auto-populated in respective tables of GSTR-1. The details of e-invoices available for auto-population along with status
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Reading Time: < 1 minuteDue dates for GSTR-3B, Government of India, Ministry of Finance (Department of Revenue), CBIC, vide Notification No. 82/2020 – Central Tax, dated 11th Nov., 2020, has added sub rule (6) to Rule 61 of the Central Goods and Services Tax Rules, 2017, to provide for staggered filing of Form GSTR-3B, for the tax periods from
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Reading Time: 2 minutesAuto-populated Form GSTR 3B, Now you can download Auto populated Form GSTR 3B in PDF format as GSTN has introduced Auto populated Form GSTR 3B (PDF) for the taxpayers, from the month of October 2020 onwards GSTN has earlier introduced Form GSTR-2B, a static statement with details of ITC available for a tax period, for
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Reading Time: 2 minutesCMP-08 through SMS, A Composition taxpayer may now file NIL statement in Form GST CMP-08 for a quarter, through an SMS, apart from filing it through online mode, on GST Portal. To file NIL Form GST CMP-08 through SMS, the taxpayer must fulfil following conditions: Taxpayer must be registered as composition taxable person (by filing
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Reading Time: < 1 minuteGovernment of India, vide Notification No. 29/2020 – Central Tax, dated 23rd March, 2020, had staggered filing of Form GSTR-3B, for the tax periods of April to September, 2020. The due dates for filing of GSTR-3B returns for tax period of September, 2020, are as given below: Sl. No Taxpayers with aggregate turn over (PAN based)
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Reading Time: 2 minutesGST Annual Return 2018-19 , CBIC has issued a press release regarding clarification on Annual Return (GSTR-9) and Reconciliation Statement (GSTR 9C) for FY 2018-19 GST Annual Return 2018-19 stating that the taxpayers are required to report only the values pertaining to Financial Year 2018-19, 2017-18 Vide notification No. 69/2020 – Central Tax, dated 30.09.2020,
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Reading Time: 3 minutesGST Council Meet, The 42nd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman through video conferencing here today. 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
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Reading Time: 2 minutesBelated & Revised ITR 2018-19, Government further extends the due date for furnishing belated & revised ITRs for assessment year 2019-20 from 30th September, 2020 to 30th November, 2020 vide Order No F. No. 225/1 50/2020-ITA-II . the due date for furnishing of Income Tax Returns u/s 139 of the Income-tax Act, 1961 for the Assessment Year
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