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Showing posts with the label CIRCULARS

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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Circular No.141/11/2020-GST (Relief to the taxpayers in view of spread of Novel Corona Virus (COVID-19)

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Circular No.141/11/2020-GST CBEC-20/06/04-2020 -GST  Government of India  Ministry of Finance  Department of Revenue  Central Board of Indirect Taxes and Customs New Delhi, dated the 24th June, 2020  
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Circular No. 139/09/2020-GST

Circular No. 139/09/2020-GST     Government of India   Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs New Delhi, Dated the 10th June, 2020   Subject: Clarification on refund related issues 1.  Various representations have been received seeking clarification on the issue relating to refund of accumulated ITC in respect of invoices whose details are not reflected in the FORMGSTR-2A of the applicant. In order to clarify these issues and to ensure uniformity in the implementation of the provisions of law in this regard across the field formations, the Board, in exercise of its powers conferred by section 168 (1) of the Central Goods and Services Tax Act,2017 (hereinafter referred to as “ CGST Act ”), hereby clarifies the issues detailed hereunder: Hindi: GST Refund के सम्बन्ध में स्पष्टीकरण माँगते हुए विभिन्न वर्णन प्राप्त हुए , जो की Invoice के संबंध में संचित ITC का Refund जिसका विवरण आवेदक क...
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Circular No: 140/10/2020 - GST

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Circular No: 140/10/2020 - GST CBEC-20/10/05/2020 -GST  Government of India  Ministry of Finance  Department of Revenue  Central Board of Indirect Taxes and Customs New Delhi, dated the 10th June, 2020 To The Principal Chief Commissioners / Chief Commissioners / Principal Commissioners / Commissioners of Central Tax (All)  The Principal Director Generals / Director Generals (All) Madam/Sir, Subject: Clarification in respect of levy of GST on Director’s remuneration - Reg. 1. Various references have been received from trade and industry seeking clarification whether the GST is leviable on Director‟s remuneration paid by companies to their directors. Doubts have been raised as to whether the remuneration paid by companies to their directors falls under the ambit of entry in Schedule III of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as the CGST Act) i.e. “services by an employee to the employer in...
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