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Reversal of ITC required where Supplier failed to file GSTR-3B

On 26/12/2022, CBIC brought in a new notification amending CGST Rules 2017 to insert a new rule in the law book, wherein, it has provided that Recipient of Goods or Services or both is liable to reverse ITC…

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Whether ITC Available for Export Freight Transactions ?

GST Law was brought into force w.e.f. 01/07/2017. With the introduction of law, certain services were kept under absolute exemption, some under conditional exemption and some were provided for a given period. However, following transactions were not kept…

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Finance Bill 2023 – GST Proposals

The Finance Bill 2023 was presented in Lok Sabha by our Finance Minister Smt. Nirmala Sitharaman on 1st Feb 2023. Among other things, certain proposals were provided to amend GST Laws with respect to issues raised by industry…

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GST for Transporters providing goods transport services by road (GTA Services) from 18/07/2022

W.e.f. 18/07/2022, the drastic change come across Transport Sector (Road). In this article, we will understand the GST tax structure for transporters providing GTA (Goods Transportation Agency) services by road (in short, GST on GTA service). Government has…

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Manner of Calculation of Interest Liability under GST

Even after completion of five years of GST laws implementation in India, still, things getting evolved. And, this evolution is in such manner that after five years, it is being imposed/applied with retrospective effect from very first day…

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3B CALENDAR AND LATE FEE CALCULATION FY 2022-23

For the financial year 2022-23, due date of filing of GSTR-3B depends on various parameters. So, it is necessary to check all those parameters to decide the due date of filing the GSTR-3B for any tax period, failing…

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Intermediary Services under GST (Agency Services)

“Intermediary” is a term which is widely used under GST and disputed on account of taxability specifically in case of international trade. In this article, an understanding on such term and its disputes are compiled. Legal Background Definition…

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GST Amnesty Scheme 2021- Applicable till 30/11/2021

Likewise in earlier years, the Government through CBIC, brought up a Scheme for non-filers under GST. The core purpose behind the scheme is to provide financial assistance to non-filers and to bring them back in the GST system…

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3B Calendar and Late Fee Calculation FY 2021-22

For the financial year 2021-22, due date of filing of GSTR-3B depends on various parameters. So, it is necessary to check all those parameters which decides the due date of filing the GSTR-3B for any tax period, failing…

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E-way Bills Integrated with Toll Plazas

Recently, National Informatics Centre (NIC) has issued an updated Mobile App for officers to track the Vehicles carrying goods through e-way bill details. As per NIC, the e-way bill system has been successfully integrated with FasTag and RFID.…

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