Recommendations of the 44th GST Council Meeting

June 12, 2021

The 44th GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman through video conferencing on June 12, 2021. The Council in its meeting has decided to reduce the GST rates on the specified items being used in Covid-19 relief and management till 30th September, 2021.

Source: https://www.cbic.gov.in/resources//htdocs-cbec/press-release/PRESS_RELEASE_44.pdf

 

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GSTN enables auto-population of HSN/SAC description based on HSN/SAC codes.

June 02, 2021

GSTN enables auto-population of HSN/SAC description based on HSN/SAC codes. Introduces rate column.

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Retrospective amendment in Section 50 of the CGST Act notified

June 01, 2021

Retrospective amendment of Section 50 of the CGST Act requiring payment of interest on net tax liability has been given effect from June 1, 2021 vide Notification 16/2021 - Central Tax dated June 1, 2021.

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Specified suspended GSTINs allowed to generate E-way Bill confirms NIC

June 01, 2021

The National Informatics Centre issues a Press Note dated June 1, 2021 permitting the generation of E-way bill by specified suspended GSTINs.

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Highlights of the 43rd GST Council Meeting

May 28, 2021

The 43rd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States & UTs and senior officers of the Ministry of Finance & States/ UTs.

The GST Council has made a number of changes relating to GST rates on supply of goods and services and changes related to GST law and procedure.


Source: https://www.pib.gov.in/PressReleseDetailm.aspx?PRID=1722578


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CBIC issues various amendments vide Notification 15/2021- Central Tax dated May 18, 2021

May 18, 2021

CBIC vide Notification No. 15/2021-Central Tax, dated May 18, 2021 issues ‘the Central Goods and Services Tax (Fourth Amendment) Rules, 2021’ to yet again amend the Central Goods and Services Tax Rules, 2017.

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GSTN issues module wise new functionalities deployed on the GST portal for taxpayers

May 05, 2021

Various new functionalities have been implemented on the GST Portal, from time to time, for GST stakeholders. These functionalities pertain to different modules such as Registration, Returns, Advance Ruling, Payment, Refund and other miscellaneous topics. Various webinars have also been conducted along with informational videos prepared on these functionalities and posted on GSTNs dedicated YouTube channel for the benefit of the stakeholders.

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Government announces various relief measures for tax payers under GST law in light of the rising pandemic exigency

May 02, 2021

In wake of the hardships faced by the taxpayers in meeting statutory and regulatory compliances under GST law, the government has issued various notifications providing relief measures to certain class of registered persons. The press release issued enunciates the relaxations rendered through these notifications.


Access the summarised Notifications for these relief measures here: https://www.gstgarage.com/blogs


  

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Waiver of late fees towards late filing of GSTR-3B

May 01, 2021

The CBIC vide Notification No 9/2021 - Central Tax dated May 1, 2021 extends relief by waiving the late fees for certain class of persons against delayed filing of GSTR-3B.

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Extension of due date for filing form GSTR-4 for FY 2020-21 to May 31, 2021

May 01, 2021

The CBIC vide Notification No. 10/2021- Central Tax dated May 01, 2021 extends due date for filing of Form GSTR-4  viz. Annual Return for the FY 2020-21 for composition scheme dealers from April 30, 2021 to May 31, 2021. The notification shall be deemed to have come into force with effect from April 30, 2021.

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Certain relaxations in time limits for compliances falling between April 15 2021 to May 31, 2021

May 01, 2021

CBIC vide Notification 14/2021 - Central Tax dated May 1, 2021 extends due date for compliances falling between the period April 15, 2021 to May 30, 2021 till May 31, 2021. The Notification shall come into force with effect from April 15, 2021.

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CBIC extends GST due dates amidst the COVID 19 exigency

May 01, 2021

Amidst the COVID 19 exigency comes a relief from the CBIC by way of extension of GST due dates.   

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