News

Eye Share : Applicability of interest on delayed filing of returns ?

As per Section 50 of the CGST Act, delayed payment of GST attracts interest at the rate of 18% percent.....

Feb 21,2019

Due date for filing GSTR-3B for Jan 2019 extended upto Feb 22

Due date for filing GSTR-3B for the month of January, 2019 have been extended upto February 22; Further, the due.....

Feb 20,2019

GST Council's 33rd meeting on real estate & lottery issue inconclusive, next meet proposed on Sunday

GST Council's 33rd meeting concludes today; Deadline for GSTR-3B filing extended by 2 days; Discussions in today's GST Council meet inconclusive, says.....

Feb 20,2019

Eye Share : GST on TCS – Right or wrong – Part II

In Part I of his 2 article series, Mr. Prateek Gattani (Advocate) discussed about nature of ‘Tax collected at source’ i.e. whether it’s in.....

Feb 18,2019

CBIC grants one-time relaxation to suppliers of warehoused goods having paid CGST/SGST instead of IGST

CBIC grants one time exception to suppliers of warehoused goods who have paid central tax and state tax on such.....

Feb 18,2019

CBIC instructs all registered persons to specify POS along with the name of the state in the Tax Invoice

Govt. instructs that all registered persons making supply of goods or services or both in the course of interstate trade.....

Feb 18,2019

CBIC instructs reporting of Inter-State transactions with URD in Form GSTR-3B and GSTR-1

Govt. instructs registered persons making inter-State supplies to unregistered persons to report details of such supplies along with the place.....

Feb 18,2019

Govt. issues Standard Operating Procedure (SOP) for TDS updated as on February 18, 2019

Govt. issues Standard Operating Procedure (SOP) for TDS updated as on February 18, 2019; Includes procedure for filing TDS Return.....

Feb 18,2019

Eye Share : GST on TCS – Right or wrong – Part I

Recent CBIC Circular No. 76/50/2018-GST stipulating that taxable value for GST purpose shall include tax collected at source (TCS) seems to.....

Feb 12,2019

Eye Share : Leasing & Real Estate under GST - Part III

In Part I of the 3 series article, authors Mr. Ankit Kanodia (CA, S.K. Kanodia & Associates) along with Ms. Puja Banthia (CA), analyzed.....

Feb 11,2019

CBIC extends due date for GSTR-7 of January 2019 up to February 28

CBIC extends time limit for filing FORM GSTR -7 by a registered person required to deduct tax at source u/s.....

Feb 09,2019

Govt. releases total Direct and Indirect Tax collection figures for FY 2017-18 and 2018-19; Collects late fee of 4172.44 crores till date

Govt. releases details of total Direct and Indirect tax collections for FY 2017-18 and 2018-19 (up to January, 2019); Reports.....

Feb 08,2019

Govt. releases month-wise gross collection figures of GST for FY 2017-18 and FY 2018-19

Govt. releases month-wise gross collection figures of CGST, SGST, IGST and Cess For FY 2017-18 and FY 2018-19; Explains that,.....

Feb 08,2019

GoM decides to recommend 5% GST for under-construction property

GoM decides to recommend 5% GST (without ITC) for under-construction property and 3% GST (without ITC) for affordable housing; FinMin.....

Feb 08,2019

Copy of CGST Rules 2017 amended upto February 01, 2019

CBIC releases the copy of Central Goods & Services Tax Rules 2017 as updated upto February 01, 2019......

Feb 06,2019

Eye Share : Raising GST Collections and Ensuring Compliances

The recent trends under GST are a cause of concern as GST collections are dropping and non-compliances like non-filing of.....

Feb 06,2019

Hyderabad Commissionerate orders verification and recovery of interest not discharged w.r.t. belated returns

Hyderabad GST Commissionerate issues clarification w.r.t. payment of interest arising u/s 50 of CGST/SGST Act on account of delayed filing.....

Feb 05,2019

Eye Share : Leasing & Real Estate under GST - Part II

In Part - 1 of their 3 part article series, Mr. Ankit Kanodia (CA, S.K. Kanodia & Associates) along with Ms. Puja Banthia.....

Feb 04,2019

January' 19 collections cross Rs. 1 lacs crores, higher by 14% compared to January’ 18

Govt. releases GST collection figures for the month of January, 2019, total gross collections for the month of January, 2019.....

Feb 04,2019

Govt. extends GSTR-8 due-date, deposit's interest not includible for 'composition scheme' eligibility/threshold

CBIC extends due date for filing GSTR – 8 by e-commerce operators for the months of October, November and December, 2018.....

Feb 02,2019

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