Important info on New GST ITC set off procedure w.e.f. 01st Feb 2019
New GST Input Tax Credit (ITC) Set off procedure w.e.f. 01 st Feb 2019.
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GST Set off rules changed w.e.f. 01st Feb 2019
GST Set off rules changed w.e.f. 01st Feb 2019 The GST Amendment Act has been made applicable w.e.f. 1st Feb 2019. One of the important changes in the GST Amendments is that the manner of set off of Input Tax credit. Before amendment, the GST was Set off as under :- [table id=32
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B2B INVOICES CLASSIFIED AS B2C IN PREVIOUS MONTHS GST FILING CAN BE AMENDED NOW
In the previous months if you have classified any Invoices as B2C invoice and uploaded the invoices and now if you want to reclassify the same as B2B Invoice with GSTIN details of your customers, the same was not possible till now. THE GSTN has enabled the option now. You can reclassify your B2C invoices
B2B INVOICES CLASSIFIED AS B2C IN PREVIOUS MONTHS GST FILING CAN BE AMENDED NOW Read More »
Reverse Charge payment of GST suspended till 30th September 2019
As you are aware, as per Section 9(4) of the CGST Act, GST is payable under Reverse Charge basis in respect of inward supplies from unregistered suppliers. This was deferred by notification till 30th of September 2018 earlier. Now another notification has been issued to defer the same till 30th September 2019. In view of
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GSTR 3B Monthly return to continue till March 2019
As per the latest Notification No 34/2018-Central Tax, the filing of Monthly Summary Return in GSTR 3B shall continue till the month of March 2019 and in view of the same, tax payment shall also be paid while filing the GSTR – 3B . The last date for filing the GSTR-3B is 20th of the
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Due dates for filing GSTR-1 returns till March 2019 announced
The CBIC has announced the due dates for filing GSTR-1 returns till the month of March 2019. As per Notification No 33/2018-Central Tax, the due dates for filing GSTR-1 returns in respect of taxpayers with less than 1.50 crores turnover is as follows :- [table id=30 /] As per Notification No 32/2018-Central Tax , the
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Statutory Obligations for the month of July 2018
The following are the various statutory obligations for the month of July 2018 [table id=29 /]
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Statutory obligations for the month of June 2018
The following are the statutory obligations for the month of June 2018 [table id=28 /]
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Change in Due dates for filing GST Returns
As per latest notification issued by the CBDT, there is a small change in the GSTR returns to be filed for the months of Apr 2018 to June 2018. The Changes are Summarised below :- For Registered Persons having aggregate turnover exceeding Rs. 1.50 Crores during the preceeding year, the Due dates are as follows
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Statutory Obligations for the month of May 2018
The following are the various Statutory Obligations for the month of May 2018 [table id=24 /]
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Recent clarification on E Way bill
The e way bill system was implemented for Inter-state supplies all over India and for Intra-state supplies in few of the states. There were numerous queries with regard to e-way bill generation of Bill to – Ship to transactions. The Government has provided a clarification for the same and the same is reproduced below [gview
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Statutory Obligations for the month of April 2018
The following are the statutory obligations for the month of April 2018 [table id=21 /]
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No e way bill required for movements within Tamilnadu (Intra-state)
The Government of Tamilnadu vide its Notification No 6/2018 has given a relief that no eway bill is required for Intra state (Within state) movement of goods . The relevant notification is reproduced below :- [gview file=”http://bssridhar.com/blog/wp-content/uploads/2018/03/Notification-No_6_2018.pdf”]
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E WAY BILL – LATEST ANNOUNCEMENTS
The GST Council has made the following announcements as per the recommendations made during the 26th GST council meeting held on 10th March 2018:- i) The e-way bill system will come into force with effect from 1st April 2018 in respect of INTER-STATE TRANSACTIONS (From one State to another State) ii) In respect
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Allocation of GST Taxpayers between Centre & State (TN)
As you are aware, the GST is administered both by the State Governments & Central Governments. As per the decision taken in the GST Council, the Taxpayers will be allocated either to State Government (or) Central Government. The Tamilnadu Government vide its Order No 1/2018 dtd 28/02/2018 has published the complete details of the allocation
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