Apr 10, 2024 Advisory on Reset and Re-filing of GSTR-3B of some taxpayers

Apr 10, 2024 Advisory on Reset and Re-filing of GSTR-3B of some taxpayers This has reference to the facility for re-filing of GSTR-3B for some of the taxpayers. It was noticed that there were discrepancies in the returns of some taxpayers during the filing process between the saved data in the GST system and actually filed data in the fields of ITC availment and payment of tax liabilities. The matter was examined and deliberated by the Grievance Redressal Committee of the GST Council and as a facilitation measure the Committee decided that these returns shall be reset, in order to give opportunity to such taxpayers to correct the discrepancy. Accordingly, only the affected taxpayers have been communicated on their registered email-ids and the affected returns are visible on their respective dashboards for the purpose of refiling with the correct data. The taxpayers who have received such communication, are requested to visit their dashboard and re-file their GSTR-3B within 15 days of receipt of such communication.

Apr 10, 2024 Auto-populate the HSN-wise summary from e-Invoices into Table 12 of GSTR-1

Apr 10, 2024 Auto-populate the HSN-wise summary from e-Invoices into Table 12 of GSTR-1 GSTN is pleased to inform that a new feature to auto-populates the HSN-wise summary from e-Invoices into Table 12 of GSTR-1 is now available on the GST portal. This allows for direct auto-drafting of HSN data into Table 12 based on e-Invoice data. Please note that the HSN-wise summary data auto-populated into Table 12 is intended for your convenience. Please ensure that you reconcile the data with your records before its final submission.

SC directs collective hearing for online gaming GST cases Apr 05, 2024

The Supreme Court has consolidated multiple pleas challenging the 28% GST on online gaming companies, ordering the transfer of 27 writ petitions to be heard together. During a hearing led by a three-judge bench headed by Chief Justice D.Y. Chandrachud on Friday, the Supreme Court ordered the transfer of 27 writ petitions pending in 11 high courts across the country.

GST on corporate guarantees: Experts await more clarity Feb 29, 2024

GST on corporate guarantees: Experts await more clarity Indirect tax experts are awaiting clarity on the levy of goods and services tax (GST) on corporate guarantees given by Indian companies on behalf of their subsidiaries following a notification issued by the finance ministry in October. The 26 October notification had clarified how much value to be ascribed to a transaction that provides corporate guarantees when there is no financial consideration involved.

GST Council may soon clarify tax exemption to RERA Feb 26, 2024

The GST Council is likely to soon clarify that Real Estate Regulatory Authority (RERA) will not be required to pay Goods and Services Tax (GST), an official said.According to the official, RERA, which functions as a regulator as well as facilitator for the realty sector, is covered under Article 243G of the Constitution dealing with powers, authority and responsibilities of panchayats. RERA was set up in different states to ensure transparency in real estate projects, protect the interest of consumers and to establish an adjudicating mechanism for speedy dispute redressal.

Govt permits GSTN to share data with RBI's frictionless credit platform Feb 24, 2024

The government has permitted GST Network to share data about GST-registered businesses, based on their consent, with the Reserve Bank's 'Public Tech Platform for Frictionless Credit'. The move will help entities get loans faster on the basis of shared Goods and Services Tax (GST)-related information. The platform, created by the Reserve Bank of India (RBI) subsidiary Reserve Bank Innovation Hub, is intended to enable seamless flow of necessary information to lenders to help in disbursing credit. In a notification, the Central Board of Indirect Taxes and Customs (CBIC) has said "the Central Government, on the recommendation of the Council, notifies 'Public Tech Platform for Frictionless Credit' as the system with which information may be shared by the common portal based on consent...". The platform has been developed for the operation of a large ecosystem of credit, to ensure access of information from various data sources digitally.

GST laws: What the row over ‘profiteering’ is all about Feb 22, 2024

The Supreme Court recently issued a notice to the Centre on the “anti-profiteering provisions” in the Central Goods and Services (CGST) Act, as well as the rules issued, on an appeal against a Delhi High Court ruling. Priyansh Verma explains what the mechanism is meant for, and the controversy around it l What are the anti-profiteering norms?THE GOODS AND Services Tax (GST), due to its comprehensive nature, and embedded facility of seamless credits to businesses for input taxes, was supposed to have a sobering effect on prices. The government is keen the benefits of any reduction in tax rate and input tax credit for businesses reach the final consumers by way of a commensurate reduction in the prices of then relevant goods and services.

GST-AAR rules that AIIMS, Telangana is not eligible for exemption on services received by it Feb 22, 2024

In a recent ruling, the Telangana State Authority for Advance Ruling (AAR) has held that the All India Institute of Medical Sciences (AIIMS) located in Bibinagar, Telangana, is not eligible to claim Goods and Services Tax (GST) exemption on pure services received by it from vendors. AIIMS-Telangana, a prestigious addition to the All India Institute of Medical Sciences network, was established to meet the rising demand for high-quality healthcare, medical education, and research in the region. It sought an advance ruling on whether it could claim GST exemption on pure services received from vendors, including manpower, housekeeping, and consultancy services, which were subject to an 18% GST rate. The institution had been reversing the entire Input Tax Credit (ITC) availed, as it provided exempt services (In other words its output services were exempt from GST).

SC issues notice to central govt on GST anti-profiteering provisions Feb 13, 2024

The Supreme Court on Monday issued a notice to the union government in a case relating to the constitutional validity of anti-profiteering provisions under the goods and services tax (GST).
A three-judge bench comprising Chief Justice D Y Chandrachud, Justice J B Pardiwala and Justice Manoj Misra was hearing a special leave petition against the order of the Delhi High Court upholding the constitutional validity of the provisions.The petitioner, detergent manufacturer Excel Rasayan Private Ltd, submitted that the High Court erred in failing to appreciate that the impugned provisions are ultra vires the constitution.

CBIC cautions against fake GST summons; asks taxpayers to check veracity of communications Feb 12, 2024

Taxpayers can verify the genuineness of any communication (including summons) from the department by using the 'VERIFY CBIC-DIN' window on the CBIC’s website or the DIN Utility Search on the online portal of Directorate of Data Management (DDM), CBIC.
The CBIC on Saturday cautioned against fraudsters issuing fake GST summons and asked taxpayers to check the veracity of any communication received from GST authorities. In a statement, the Central Board of Indirect Taxes and Customs (CBIC) said the Directorate General of GST Intelligence (DGGI) has recently noticed that some individuals with fraudulent intent are creating and sending fake summons to taxpayers who may or may not be under investigation by the DGGI.

India may soften stance on GST demands on online real money gaming companies: Sources Feb 08, 2024

Online gaming companies may get a breather as the Union government is likely to soften its stance on the retro goods and services tax (GST) demand notices, sources told CNBC-TV18 on February 7.
Sources say the government realises the existential issue that gaming companies face if they have to pay GST demands raised for the period between July 2017 to March 2023.
The government now sees merit in the argument that a company cannot pay unrealistic tax demands. It is likely to have sought legal opinion on the way out of tussle with online gaming firms, sources added.

GST authorities issue notices over input tax credit discrepancies Feb 07, 2024

Goods and services tax (GST) authorities have issued notices to several companies for discrepancy in claim of input tax credit, or ITC, people aware of the matter said. This follows close scrutiny of input tax availed by the companies and mismatch with their annual return.

The notices have been sent under Section 150 of the CGST Act, 2017. The department has asked the taxpayers to file an information return, giving details of the reason for the "short reporting" of input tax credit. ET has seen...

Advisory on introduction of new Tables 14 & 15 in GSTR-1 15-Jan-2024

As per Notification No. 26/2022 – Central Tax dated 26th December 2022 two new tables Table 14 and Table 15 were added in GSTR-1 to capture the details of the supplies made through e-commerce operators (ECO) on which e-commerce operators are liable to collect tax under section 52 of the Act or liable to pay tax u/s 9(5). These tables have now been made live on the GST common portal. These two new tables will be available in GSTR-1/IFF from January-2024 tax periods onwards. Please click here for the complete advisory. Thanking you, Team carahul.com

Advisory on Payment through Credit Card (CC)/Debit Card (DC) and Unified Payments Interface (UPI) 19-Jan-2024

To facilitate the taxpayer registered under GST with more methods of payment, two new facilities of payment have now been provided under e-payment in addition to net-banking. The two new methods are Cards and Unified Payments Interface (UPI). Cards facility includes Credit Card (CC) and Debit Card (DC) namely Mastercard, Visa, RuPay, Diners(CC only) issued by any Indian bank. Please click here for the complete advisory. Thanking you, Team carahul.com

Advisory for furnishing bank account details by registered taxpayers under Rule 10A of the Central Goods and Services Tax Rules, 2017. 23-Jan-2024

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 details of their bank account/s 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 their bank account details, who have not provided it so far if 30 Days period is shortly going to expire to avoid disruption in business activities and the subsequent suspension of GSTIN. A new functionality is being developed with the following features and will be deployed in near future:- 1.Failure to furnish the bank account in the stipulated time: It would result into following: a) Taxpayer Registration would get suspended after 30 days and intimation in FORM REG-31 will be issued to the Taxpayer. b) Get the Taxpayer debarred from filing any further GSTR-1/IFF. 2.Revocation of Suspension: If the taxpayer updates their bank account details in response to the intimation in FORM REG-31, the suspension will be automatically revoked. 3.Cancellation of Registration: If the bank account details are not updated even after 30 days of issuance of FORM REG-31, the registration after suspension may also be taken up for cancellation process by the Officer. Taxpayers are requested to take immediate action to provide the necessary information and avoid any adverse consequences. Thanking you, Team carahul.com

CBIC notifies special procedure for filing returns for pan masala, tobacco manufacturers Jan 09, 2024

In a move aimed at improving compliance under the goods and services tax (GST), manufacturers of pan masala and tobacco products would have to follow a new procedure for registration and filing monthly returns from April 1.

Based on a decision of the GST Council, the Central Board of Indirect Taxes and Customs (CBIC) has notified a special procedure to be followed by a registered person engaged in manufacturing of these goods for the registration and disposal of packing machines. The move is aimed at assessing the production and packaging facility of such units to ensure correct GST is paid as the sector is seen to be prone to evasion.

GST authorities drop plans to enforce stricter e-way bill norms Jan 13, 2024

Goods and Services Tax (GST) authorities have dropped a plan to block generation of goods transportation permits, or e-way bills, from 1 March for companies that fail to produce 'e-invoices' for their wholesale transactions through designated portals. These portals aid in more accurate data capturing across various tax forms using a standardized invoice.

Advisory on introduction of new Tables 14 & 15 in GSTR-1 Jan 16, 2024

As per Notification No. 26/2022 – Central Tax dated 26th December 2022 two new tables Table 14 and Table 15 were added in GSTR-1 to capture the details of the supplies made through e-commerce operators (ECO) on which e-commerce operators are liable to collect tax under section 52 of the Act or liable to pay tax u/s 9(5). These tables have now been made live on the GST common portal. These two new tables will be available in GSTR-1/IFF from January-2024 tax periods onwards. Please click here for the complete advisory.

Employees' payment for canteen services will not attract GST: AAR Jan 19, 2024

Deducting money from employees' salaries to pay a canteen services provider (CSP) would not attract the Goods and Services Tax (GST), the Gujarat Authority for Advance Rulings (AAR) has ruled.
In a case related to luxury kitchen and bath fixtures brand Kohler India Corporation, the AAR ruled that input tax credit (ITC) would be given to the company for GST paid on payment to a CSP for non-contractual employees.

Lessor has to pay GST on rent if property is used for commercial purposes Jan 19, 2024

The Rajasthan bench of the Authority for Advance Rulings has held that GST (Goods and Services Tax) is applicable on the rent if a residential property is used for commercial purpose by a lessee (who is registered for GST purposes).
In the case of Deepak Jain (the applicant) who had leased out his property to a private limited company, which was engaged in back-office operations, the AAR observed that, up to July 17, 2022, renting of residential dwellings for use as a residence was exempt from GST, while renting for commercial use was taxable at 18%.

Advisory on Payment through Credit Card (CC)/Debit Card (DC) and Unified Payments Interface (UPI) Jan 20, 2024

To facilitate the taxpayer registered under GST with more methods of payment, two new facilities of payment have now been provided under e-payment in addition to net-banking. The two new methods are Cards and Unified Payments Interface (UPI). Cards facility includes Credit Card (CC) and Debit Card (DC) namely Mastercard, Visa, RuPay, Diners(CC only) issued by any Indian bank. Please click here for the complete advisory.

Advisory for furnishing bank account details by registered taxpayers Jan 27, 2024

All Registered Taxpayers are required under the provisions of CGST Act, 2017 and the corresponding Rules framed thereunder to furnish details of their bank account/s 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 their bank account details, who have not provided it so far if 30 Days period is shortly going to expire to avoid disruption in business activities and the subsequent suspension of GSTIN.

A new functionality is being developed with the following features and will be deployed in near future:-

1.Failure to furnish the bank account in the stipulated time: It would result into following:

a) Taxpayer Registration would get suspended after 30 days and intimation in FORM REG-31 will be issued to the Taxpayer.

b) Get the Taxpayer debarred from filing any further GSTR-1/IFF.

2.Revocation of Suspension: If the taxpayer updates their bank account details in response to the intimation in FORM REG-31, the suspension will be automatically revoked.

Lessor has to pay GST on rent if property is used for commercial purposes

Jan 19, 2024

The Rajasthan bench of the Authority for Advance Rulings has held that GST (Goods and Services Tax) is applicable on the rent if a residential property is used for commercial purpose by a lessee (who is registered for GST purposes).
In the case of Deepak Jain (the applicant) who had leased out his property to a private limited company, which was engaged in back-office operations, the AAR observed that, up to July 17, 2022, renting of residential dwellings for use as a residence was exempt from GST, while renting for commercial use was taxable at 18%.

Advisory for Timely Filing of GST Returns

Advisory: Deferment of Implementation of Time Limit on Reporting Old e-Invoices

Advisory on due date extension of GST Returns for the state of Manipur

E-Invoice Verifier App by GSTN - Advisory

Advisory: Update on Enablement Status for Taxpayers for e-Invoicing

16/06/2023

Dear Taxpayers,

It is to inform that as per Notification No. 10/2023 - Central Tax dated 10th May 2023, the threshold for e-Invoicing for B2B transactions has been lowered from 10 crores to 5 crores. This change will be applicable from 1st August 2023.

2.   To this effect GSTN has enabled all eligible taxpayers with an Aggregate Annual Turnover (AATO) 5 crores and above as per GSTN records in any preceding financial year for e-Invoicing. These taxpayers are now enabled on all six IRP portals including NIC-IRP for e-Invoice reporting.

3.   You can check your enablement status on the e-Invoice portal at https://einvoice.gst.gov.in .

4.   It would be in the interest of trade to register and utilize the sandbox testing facility available at the IRP portals. This will help taxpayers to familiarize themselves with the invoice reporting mechanism and ensure a seamless transition to the e-Invoice system.

5.   Please note that the enablement status indicated on the e-Invoice portal does not indicate a legal obligation on taxpayers to use e-Invoicing. However, actual liability to generate IRN shall be checked by taxpayers with respect to applicable notification in the light of facts pertaining to them.

6.   While the listing of enabled GSTINs is purely based on the turnover criteria reported in GSTR-3B, it is essential for taxpayers to confirm whether they fulfil the conditions outlined in the notification/rules. Thus, it is the legal responsibility of the concerned taxpayer, both buyers and suppliers, to ensure compliance.

7.   In case, a taxpayer who is otherwise but not auto enabled on the e-Invoice portal, can self-enable for e-Invoicing using the functionality provided on the portal.

8.   GSTN once again emphasises that all eligible taxpayers should familiarize themselves with the e-Invoicing requirements and take the necessary steps to ensure compliance with the new threshold.

29/06/2023

Dear Taxpayers,

1.   It is informed that GSTN has developed a functionality to enable the taxpayer to explain the difference in GSTR-1 & 3B return online as directed by the GST Council. This feature is now live on the GST portal.

2.   The functionality compares the liability declared in GSTR-1/IFF with the liability paid in GSTR-3B/3BQ for each return period. If the declared liability exceeds the paid liability by a predefined limit or the percentage difference exceeds the configurable threshold, taxpayer will receive an intimation in the form of DRC-01B.

3.   Upon receiving an intimation, the taxpayer must file a response using Form DRC-01B Part B. The taxpayer has the option to either provide details of the payment made to settle the difference using Form DRC-03, or provide an explanation for the difference, or even choose a combination of both options.

4.   To further help taxpayers with the functionality, a detailed manual containing the navigation details is available on the GST portal. It offers step-by-step instructions and addresses various scenarios related to the functionality. The link is stated below:



https://tutorial.gst.gov.in/downloads/news/return_compliance_in_form_drc_01b.pdf

India imposes antidumping duty on 5 Chinese goods for 5 years

Dec 27, 2021

India has imposed antidumping duties on five Chinese products, including certain aluminium goods and some chemicals, for five years to guard local manufacturers from cheap imports from the neighbouring country. According to separate notifications of the Central Board of Indirect Taxes and Customs (CBIC), the duties have been imposed on certain flat rolled products of aluminium; sodium hydrosulphite (used on dye industry); silicone sealant (used in manufacturing of solar photovoltaic modules, and thermal power applications); hydrofluorocarbon (HFC) component R-32; and hydrofluorocarbon blends (both have uses in refrigeration industry).

These duties were imposed following recommendations of the commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR).