Single Click NIL filing of GSTR-1
Introducing Single Click Nil Filing of GSTR-1 Single click Nil filing of GSTR-1 has been introduced on the GSTN portal to improve the user experience and performance of GSTR-1/IFF filing. Taxpayers can now file NIL GSTR-1 return by simply ticking the checkbox File NIL GSTR-1 available at GSTR-1 dashboard. It has been constant endeavor to […]
GST Related reporting (Clause 44) in Tax Audit Report.
Form 3CD of Tax Audit Report was amended in July 2018 by Notification No. 33/2018 dated 20.07.2018 Clause 44 on reporting of GST transactions was added. However its implementation was kept in abeyance till 31st March 2022. However, for tax audit reports filed from 1st April 2022 onwards, reporting under this clause will be mandatory. Hence, you […]
The registration window for existing units to claim subsidies under the Gujarat IT/ITeS Policy FY 2022-27 will remain open until November 5, 2022.
Hello Readers, Gujarat’s New IT policy was published on the 8th of February 2022, and it is published for 5 years, till 31st March 2027. Gujarat is committed towards promoting faster and inclusive growth in the IT/ITeS sector. This Policy focuses on attracting investments and generating employment across the State along with propelling growth through […]
For Existing Units – 05-09-2022-Last date to register for availing Gujarat IT/ITeS Policy FY 2022-27
Hello Readers, With an ambitious target to increase exports from the existing Rs 3,000 crore to as high as rs 25,000 crore in the information technology (IT) sector, the Gujarat government rolled out its new Information Technology & Information Technology-enabled Services (IT & ITeS) policy, 2022-2027. The Policy will enable all innovative ecosystem, establish a […]
TAXABILITY OF RENTING OF RESIDENTIAL DWELLING UNDER GST
Renting of residential dwelling for the purpose of residence was earlier exempted. However, the exemption on such service has been withdrawn with effect from 18.07.2022. Now onwards renting of residential property for the purpose of residence is also taxable if the recipient of service is registered under GST. Prior to July 18th,2022 Services by way […]
Deadline for Existing Units – Gujarat IT/ITeS Policy – 2022-27
Hello Readers, With an ambitious target to increase exports from the existing Rs 3,000 crore to as high as rs 25,000 crore in the information technology (IT) sector, the Gujarat government rolled out its new Information Technology & Information Technology-enabled Services (IT & ITeS) policy, 2022-2027. The Policy will enable all innovative ecosystem, establish a […]
SC directs GSTN to open portal for filing TRAN-1 for all taxpayers
The Revenue filed SLP before the Supreme Court as various High Courts had allowed writ petitions filed by the registered taxpayers seeking directions to avail Transitional Credit beyond statutory time limit. (Union of India vs. M/s Filco Trade Centre Pvt. Ltd. and Anr.) The Apex Court has issued the following Tran-1 directions: Goods and Service […]
FAQs – GST on ‘Pre-packaged and labelled’ Goods : Effective from 18th July, 2022
The changes relating to GST rate, in pursuance of recommendations made by the GST Council in its 47th meeting, are coming into effect from the 18th of July, 2022. One such change is moving from imposition of GST on specified goods when bearing a registered brand or brand in respect of which an actionable claim […]
GST ON PRE-PACKAGED AND LABELLED FOOD ITEMS. EFFECTIVE FROM 18-07-2022
Currently, certain food items are exempt from GST if they are not put up in the unit container or they are unbranded or if the supplier waives the right to the brand through a declaration. The GST council recently recommended revising the scope of GST exemption to exclude the specified food items if the Supplies […]
Changes in GSTR 1 & GSTR 3B – reporting of ITC & other details
Changes in reporting of input tax credit in GSTR-3B [Notification No. 14/2022 – Central Tax dated 5th July 2022 read with Circular No.170/02/2022 dated 6th July 2022] is as below: Changes relating to supplies through E-commerce operators. As per Section 9 (5) of the CGST Act (and the corresponding provisions under the SGST Acts, IGST Act, […]