Relaxation in paying additional fees for LLP up to 30th June, 2022
Relaxation in paying additional fees in case of delay in filing Form 11(Annual Return) and all the event based e-forms by Limited Liability Partnerships up to 30th June, 2022The Ministry of Corporate Affairs (hereinafter referred to as “MCA”) in view of transition from version-2 of MCA-21 to version-3 and to promote compliance on part of […]
GST ON CRYPTOCURRENCY TRANSACTIONS
GST on CryptoCurrency – subject matter of dispute from the taxability Cryptocurrency is made up of two different words, “crypto” and “currency”. Hence, it can be said that cryptocurrencies are currencies that use the science of cryptography. This is because these currencies widely use encryption techniques. This means that encryption techniques are used for two […]
Maintenance work being scheduled on the e-Invoice System on 5th June 2022 between 9pm and 10pm
There is a maintenance work being scheduled on the e-Invoice System on 5th June 2022 between 9pm and 10pm. During this interval, the e-Invoice services will not be available for the GST taxpayers of the following states ONLY. Also please note that e-waybill portal and e-waybill APIs will function as usual without any problem for all […]
Addition of 6% tax rate in GSTR-1 online
GSTN added 6% tax rate in GSTR-1 on the GST Portal It may be noted that 6% tax rate has been added in the item details section of all the tables of form GSTR-1, except HSN table 12.In case your outward supplies attracts 6% tax rate, you are required to upload the details against 6% […]
₹1,40,885 crore gross GST Revenue collection for May 2022; increase of 44% year-on-year
GST collection crosses ₹1.40 lakh crore mark 4th time since inception of GST; 3rd month at a stretch since March 2022 Posted On: 01 JUN 2022 1:28PM by PIB Delhi The gross GST revenue collected in the month of May 2022 is ₹1,40,885 crore of which CGST is ₹25,036 crore, SGST is ₹32,001 crore, IGST is ₹73,345 crore (including ₹ 37469 crore collected on import of […]
Upcoming Important dates in June 2022 for compliance under Goods and Services Tax (GST).
GST Return Due date Description GSTR-1 (May, 2022) 11-06-2022 Turnover more than 5 crore or opted to file monthly return IFF(Optional) – May 2022 13-06-2022 Opted for Quarterly filing as per QRMP scheme GSTR-3B (May 2022) 20-06-2022 Turnover more than 5 crore or opted to file monthly return PMT-06 25-06-2022 Who has opted to file […]
AUTOMATION OF CONTINUAL DISCLOSURES UNDER REGULATION 7(2) OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 2015
SEBI has notified a circular ref no SEBI/HO/ISD/ISD/CIR/P/2021/578 dated June 16, 2021 for automation of continual disclosures under regulation 7(2) of Sebi (Prohibition of Insider Trading) Regulations, 2015 (“PIT Regulations”) – system driven disclosures for inclusion of listed debt securities. The system driven disclosures have already been implemented for entities of a listed company under […]
Landmark Judgement of Supreme Court on GST on ocean freight – 19th May 2022
Synopsis In a landmark Judgment in the case of Mohit Minerals Pvt Ltd Supreme court held that the impugned levy imposed on the ‘service’ aspect of the transaction is in violation of the principle of ‘composite supply’ enshrined under Section 2(30) read with Section 8 of the CGST Act. Since the Indian importer is liable […]
Due date extended for GSTR 3B and PMT-06 for the month of April,2022
Due date for furnishing Form GSTR-3B for the month of April, 2022 extended till the May 24, 2022 due to the non-availability of Form GSTR-2B for the month of April, 2022 on time.(vide Notification No. 05/2022- Central Tax dated May 17, 2022 ) Due date for furnishing Form GST PMT-06 (for taxpayers under QRMP Scheme) […]
GSTN issued advisory on GSTR-2B issues
There is Problem while generating GSTR-2B for April month on GST Portal. It has been noticed that in a few cases, certain records are not reflected in the GSTR-2B statement for the period of April 2022. However, such records are visible in GSTR-2A of such recipients. The technical team is working to resolve this issue […]