7-10-2021 GST New Update! Due date for deposit of tax deducted/collected for the month of September, 2021. 10-10-2021 GSTR 7 - Summary of Tax Deducted at Source (TDS) and deposited under GST laws for the month of September 2021 GSTR 8 - Summary of Tax Collected at Source (TCS) by e-commerce operators under GST law for the month of September 2021 11-10-2021 GSTR 1 - Monthly filling for Assessee having Annual Turnover above Rs. 5 crores for the month of September 2021 13-10-2021 GSTR 1 - Quarterly filling for Assessee…

Dear Member, As we all are that the refund of unutilized Input tax credit of inverted duty (hereinafter referred to as the “ITC") under GST is dealt under Section 54(3) (ii). In terms of Section 54(3) of Central Goods and Service Tax (hereinafter referred to as the “CGST Act, 2017”) refund of unutilized input tax credit shall be allowed only in two cases as mentioned below; …………………………….. In case of Inverted duty structure i.e where GST rate of tax on Inputs being higher than the GST rate on output supplies.…

45th Meeting of the GST Council, Lucknow 17th September, 2021 The GST Council’s 45th meeting was held today in Lucknow under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has inter-alia made the following recommendations relating to changes in GST rates on supply of goods and services and changes related to GST law and procedure: Recommendations relating to GST rates on goods and services COVID-19relief measure in form of GST rate concessions Extension of existing concessional GST rates (currently valid till 30th September, 2021) on following Covid-19 treatment drugs, up to 31st December, 2021, namely- Amphotericin B -nil ii. Remdesivir –…

Taxpayers who have failed to file their GSTR-3B for the period from Jul-2017 up to Apr-2021, can avail the benefit of the GST amnesty Scheme and file their pending GSTR-3B for the said period by paying a reduced late of Rs.1000 (Rs.500 in case of return with no tax liability) per return instead of Maximum Late Fees of Rs.10,000/-. The Finance Ministry has extended the last date for this scheme till November 30, 2021. CGST notification number 33/2021 dated 29th August 2021. Earlier, Due date for the scheme was August…