Government is taking most of the policy decisions based on the aggregate turnover of a taxpayer including filing returns, composition option, and relief in late fee, and interest during COVID period or otherwise due to any other exigency. Aggregate turnover has been defined under clause (6) of section 2 of the Act as under: “Aggregate […]
Background: In accordance with Notification No. 78/2020 – Central Tax, dated October 15, 2020, taxpayers need to declare Harmonised System of Nomenclature (HSN) Code of Goods and Services supplied by them on raising of tax invoices, with effect from 1 st April, 2021 on the below mentioned lines. 2.) It has been reported by few […]
Advisory for Taxpayers regarding Blocking of E-Way Bill (EWB) generation facility resume after 15th August, 2021. As you might be aware that the facility of blocking E way bill generation had been temporarily suspended due to pandemic, in terms of Rule 138 E (a) and (b) of the CGST Rules, 2017, the E Way Bill generation facility […]
New functionality on Annual Aggregate Turnover (AATO) deployed on GST Portal for taxpayers. GSTN has implemented a new functionality on taxpayers’ dashboards with the following features: The taxpayers can now see the exact Annual Aggregate Turnover (AATO) for the previous FY, instead of just the two slabs of Above or Upto Rs. 5 Cr. The taxpayers […]
1. Rule-59(6) of CGST Rules, 2017; inserted vide Notification No. 1/2021 dated 1st January 2021, provides for restriction in filing of GSTR-1 in certain cases : a) a registered person shall not be allowed to furnish the details of outward supplies of goods or services or both under section 37 in FORM GSTR-1, if he has […]
