SNR – GST Update ...
SNR – GST Update GST/2020-21/17 Central Board of Indirect Taxes & Customs (CBIC) has issued multiple notifications on 30th September 2020 for extension of due dates, E-invoicing & QR code applicability and exemptions etc. In this update, a summary of provisions contained in the aforesaid notifications are provided. A) GST Audit due date Extended Government...
SNR – GST Update GST/2020-21/16 Central Board of Indirect Taxes & Customs (CBIC) vide F. No. CBEC-20/01/08/2019-GST dated September 18, 2020 has provided the Administrative instructions for recovery of interest on net cash tax liability w.e.f. July 01, 2017. Based on the recommendations of the 35th meeting of the GST Council held on June 21,...
SNR – GST Update GST/2020-21/13 Hon’ble Gujarat Authority for Advance Ruling (AAR) has given a ruling in the matter of “Shree Deepesh Kumar Anil Kumar Naik” holding that that Sale of land developed with primary amenities such as boundary wall, drainage line, water line, electricity line etc. is liable to GST as service of construction...
SNR – GST Update GST/2020-21/12 The 40th GST council meeting was held on 12th June’ 2020 via video conferencing. This was the first council meeting after the outbreak of COVID-19. The taxpayers were hoping to get few relaxations in this pandemic and the government was looking for the new avenues to boost up revenues. Key...
SNR – GST Update GST/2020-21/11 Central Board of Indirect Taxes & Customs (CBIC) has issued two circulars on 10th June 2020 to issue clarifications regarding refund of accumulated ITC relating to imports, ISD invoices & inward supplies liable to RCM and GST applicability on Director’s remuneration. These circulars have provided much needed clarity on both...
SNR – GST Update GST/2020-21/10 Central Board of Indirect Taxes & Customs (CBIC) has issued certain notifications to ensure minimum hardships to trade and industry in the existing situation. Brief of the notifications are given below: S. No. Notification No. Brief of the notification 1. 44/2020-Central Tax dated 8th June 2020 Filing procedures of GSTR-3B...
SNR – GST Update GST/2020-21/09 Hon’ble Karnataka Authority for Advance Ruling (AAR) has given a ruling in the matter of “M/s Dolphine Die Cast (P) Ltd.” holding that no export or import can be made unless there is actual physical movement of goods outside or inside the territory of country. It has been held that...
SNR – GST Update GST/2020-21/08 Recently Karnataka Appellate Authority for Advance Ruling (AAAR) has upheld the ruling given by Karnataka AAR in the matter of “M/s Maarq Spaces Private Limited”. AAR has earlier held that consideration received by developer in terms of Joint Development Agreement (JDA) is neither a composite supply nor an exempt supply...
SNR _GST_Update GST/2020-21/07 CBIC amends GST Law retrospectively to disallow transitional credit claims The Central Board of Indirect Taxes and Customs (CBIC) has notified retrospective amendments to Section 140 of CGST Act, 2017. The Central Government has appointed 18th day of May’ 2020, as the date on which the provisions of Section 128 of Finance...