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Showing posts from January, 2022

Mandatory Bank Account Details Submission Under GST

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Mandatory furnishing bank account details by registered taxpayers under Rule 10A of the Central Goods and Services Tax Act, 2017. Let's Understand What Is Rule 10A Under CGST Act, 2017. The objective of Rule 10A is to prevent fraudulent activities such as the creation of fake GST registrations and the generation of bogus invoices. By verifying the bank account details of new GST registrants, the government can ensure that only genuine businesses are registered under the GST regime. So all the registered taxpayers are required to furnish their bank account details within the prescribed period of time. Mandatory Bank Account Details Submission as Per Law: All Registered Taxpayers are required under the provisions of CGST Act, 2017 and the corresponding Rules framed thereunder to furnish  their bank Account  Details within 30 days of the grant of registration or before the due date of filing GSTR-1/IFF, whichever is earlier. Taxpayers are therefore advised to promptly furnish the...
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Reporting of supplies notified under section 9(5)/5(5) by E-commerce operator in GSTR-3B

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  1. As per the GST council decision to notify "Restaurant Service" under section 9(5) of the CGST Act, 2017 along with other services notified earlier such as motor cabs, accommodation and housekeeping services wherein the tax on such supplies would be paid by electronic commerce operator if such supplies made through it, Notification No. 17/2021- Central Tax (Rate) and 17/2021- Integrated Tax (Rate) dated 18.11.2021 have been issued. Accordingly, the tax on supplies of restaurant service supplied through e-commerce operators, shall be paid by the e-commerce operator with effect from the 1st January 2022. 2. In light of the above, E-commerce operator and registered person would report taxable supplies notified under section 9(5) of CGST Act, 2017 and similar provisions in IGST/SGST/UTGST Act in the following manner.  3.   For more details, please refer to CBIC circular No. 167/23/2021 dated 17.12.2021. 1.  जीएसटी परिषद के निर्णय के अनुसार सीजीएसटी अधिनियम, 201...
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