News
Auto-drafted ITC statement in GSTR-2B introduced for July, 2020 on trial basis
Pursuant to 39th GST Council Meeting’s recommendation, Finance Ministry introduces GSTR-2B for the month of July 2020, an auto-drafted input.....
FinMin conveys borrowing options to States for GST compensation pursuant to Council-meet
FinMin conveys two borrowing options to the States in order to meet the GST compensation requirement for FY 2020-21 in.....
Eye Share: Section 54 Amendment - Whether Fixation of One Problem Created Another?
In order to normalize the condition and to make it favourable for the common masses, government is taking numerous steps.....
GST Council 41st meeting concludes, 2 options proposed to States to meet 'Revenue' shortfall
41st GST Council meeting held to deliberate on issue of compensating states for revenue shortfall concludes today after 5 hours; Finance.....
No recovery of interest on delayed payment to be made for past period, clarifies CBIC
CBIC clarifies that while the Notification relating to interest on delayed payment of GST has been issued prospectively due to.....
CBIC notifies September 01 as the date for enforcing amendment in Section 50
CBIC appoints September 01, 2020 as the date for enforcing amendment to Section 50 of CGST Act introduced vide section 100 of.....
Eye Share: Getting Ready for E-Invoicing
The GST Council, in its 37th meeting held in September 2019, had approved the implementation of e-invoicing mechanism in India. With.....
Eye Share: COVID-19 -Disruption and Opportunity for The Pharmaceutical Sector
The COVID-19 pandemic has been the toughest global humanitarian challenge the world has ever faced. Along with an unprecedented human.....
Eye Share: GST Concern areas during COVID Era
The outbreak of Coronavirus has caused a significant impact on day to day living of the common man, government and.....
Eye Share: Composition Scheme Under GST – How Much Beneficial?
The objective of Composition scheme under GST is to spare small taxpayers from detailed compliances under GST and provide a.....
Eye Share: GST on Clubs - Doctrine of Mutuality
Taxation of sale and services by a club to its members has always been a susceptible matter for litigation. In the GST.....
Eye Share: Receipt and Consideration – So Alike, yet so Different in Many Ways!
We all have become so used to taxes that claims of any income being not taxable comes as a surprise.....
Eye Share: An 'IMMOVABLE’ Question of Tax Regimen!
Impact of ‘relevant facts’ is often disregarded in interpretation of statute and when it happens, we are left with nothing.....
Copy of CGST Rules 2017 amended upto July 30, 2020
CBIC releases the copy of Central Goods and Service Tax Rules, 2017 along with Forms as updated upto July 30,.....
Eye Share: Denial of ITC on Property Leasing Services – Analysis of Daicel AAR ruling
Recently, Telangana AAR in Daicel Chiral Technologies (India) Private Limited [TS-608-AAR-2020-NT] held the applicant ineligible to avail ITC of GST paid on payment.....
Eye Share: Import Restriction on Import of Colour Televisions
Mr. Agneshwar Sen, (Associate Partner, EY Tax and Economic Policy Group) along with Mr. Sanjay Singh, (Director) and Ms. Garima Prakash (Consultant) remark that since.....
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GSTN issues FAQs and User Manual for filing GSTR 4 Offline Utility by composition dealers
GSTN issues FAQs and User Manual for Form GSTR 4 (Annual Returns) Offline Utility which is an Excel-based tool to facilitate.....
GSTN restores facility to view, file & download returns for July 2017
Facility to view, file and download returns of period July 2017 has been restored on GSTN portalThe information contained in.....
GST Collections pegged at Rs. 87,422 crore for July, 2020
GST revenue collection for the month of July 2020 stands at Rs. 87,422 crores comprising of CGST Rs. 16,147 crore,.....
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CBIC notifies amendment in class of registered persons for e-invoice, new GST INV-01 format
CBIC notifies registered person (other than SEZ & those referred to in sub-rules (2), (3), (4) and (4A) of rule.....