News
Eye Share: GST Enigma Around SEZ Transactions Continues?
The GST laws have been rather cryptic when it comes to treatment vis-à-vis units located in Special Economic Zones (SEZ),.....
CBIC issues Corrigendum regarding late fee waiver for not furnishing GSTR-4
Pursuant to the notification w.r.t. waiver/reduction in late fee for not furnishing FORM GSTR-4 (Return for composition dealer), CBIC clarifies.....
CBIC notifies waiver of late filing fee for GSTR-4 and GSTR-10 subject to conditions
CBIC notifies waiver/reduction in late fee for not furnishing FORM GSTR-4 (Return for composition dealer) for 2017-18 and 2018-19 & FORM GSTR-10 (Final.....
CBIC extends time-limit for issuing invoices w.r.t. goods sent on approval for sale or return basis
CBIC issues notification extending the time limit for compliance u/s 31(7) i.e. issuing invoices in case of goods being sent.....
FinMin issues administrative instructions w.r.t recovery of interest on net-cash tax liability from July 01, 2017
FinMin issues administrative instructions for recovery of interest on net cash liability w.e.f. July 1, 2017; Explains that same has.....
Eye Share: E-invoicing-A Double Sided Sword for ITC Availment!
With intent to regularize GST, the Government, every now and then is coming up with measures to ensure compliance and.....
GSTN enables delinking of Credit Note/Debit Note from invoice for returns/refunds
GSTN enables delinking of Credit Note/Debit Note from invoice while reporting a Credit Note or Debit Note in Form GSTR-1 or.....
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GSTN issues FAQs and user manual for Matching Offline Tool
Pursuant to enabling reconciliation tool for matching GSTR-2B (auto-drafted ITC statement) with purchase register; GSTN issues Frequently Asked Questions (FAQs) and.....
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GSTN releases FAQs on 'e-invoicing', explains its format, applicability, schema & validity
GSTN issues FAQs regarding ‘e-invoicing’ i.e. invoices prepared after obtaining an Invoice Reference Number (IRN) by uploading specified particulars in.....
Eye Share: GSTR-2B - A Half-Baked Auto-Drafted ITC Statement?
Pursuant to 39th GST Council Meeting’s recommendation, GSTN launched GSTR-2B with an enhancement of auto-drafted input tax credit (ITC) statement. Author Nikhil.....
Eye Share: Tale of Transitional Credits - A Disjunct Between Legislature and Courts
The CGST Act has a set of transitional provisions for taxpayers to move to the GST from the erstwhile regime......
Eye Share - Confusing the Confused: The Tale of Tax Implications on Discounts
The tax treatment pertaining to discounts given/received on supplies has always been a perplexed/contentious one since time immemorial. Author Suruchi Agrawal (Partner,.....
Eye Share: Digital Economy Taxation Saga –Deconstructing Equalization Levy & GST from an Indian-Tax Standpoint
Owing to the lack in arriving at a universally acceptable multilateral solution for levying tax on digital transactions, several countries have.....
Eye Share: Peculiarities in the Calculation of Refund Under Inverted Duty Structure in GST
After the Gujarat HC’s decision in case of VKC Footsteps India Pvt. Ltd. [TS-585-HC-2020(GUJ)-NT] the clauses dealing with refund of accumulated ITC.....
Eye Share: The Time Clock for availing ITC on Debit Note
The ITC provisions under GST can be very tricky. Authors Senguttuvan K (Managing Partner, SAPAA Law Firm) and Arasi Ponmalar (Associate Director), outline when an umbrella.....
CBIC extends time-limit for completion/compliance of action by authorities u/s 171
CBIC notifies extension in time limit for completion or compliance u/s 171 of CGST Act [Anti-profiteering measure] by authorities of.....
Eye Share : 5 Key Changes Expected in GST
Rolled out in July 2017, GST was a seismic shift in not just the tax laws of India. Its implementation.....
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CBIC notifies extension of last date to file GSTR-4 to Oct 31
CBIC issues notification to extend last date for for filing return by composition dealer in GSTR-4 to October 31, 2020:.....
Last date for filing return by composition dealer in GSTR-4 extended till Oct 31
Last date for filing return by composition dealer in GSTR-4 extended till October 31, 2020: CBIC tweet.....
Introduction of tables in GSTR-2A for displaying details of import/SEZ supplies
GSTN launches new functionality in GSTR-2A by inserting two new tables for displaying details of import of goods from overseas.....