The GST Council under the chairmanship of Union Finance Minister Mrs. Nirmala Sitharaman conducted its 43rd meeting through video conferencing in New Delhi. Keeping in mind the 2nd wave of COVID-19, GST council has recommended the following relief measures for…
Central Board of Indirect Taxes and Customs (CBIC) on dated 05.05.2020 have issued some notifications for providing some relief under GST in this pandemic situation. Below is a brief summary of the notifications.
Zero rated supplies means export supplies and supplies made to SEZ units or SEZ developers. Further on zero rated supplies, input tax credit and refund is available even if supplies are exempt supplies.
Every registered person is required to retain books of accounts and other records until the expiry of 6 years from the due date of furnishing of annual return or until the expiry of 1 year from the date of final disposal of any appeal etc., whichever is later.
Due to coronavirus outbreak and disruption in the normal routine of the entire nation, the Central Board of Indirect Taxes and Customs (CBIC) has provided various reliefs and various extensions under Goods and Services Tax (GST) compliance.
CBIC extends due date for furnishing FORM GSTR-1 for registered persons whose principal place of business is in the erstwhile State of Jammu and Kashmir, for the quarter July-September, 2019 till 24th March,2020.
CBIC extends due date for GSTR-1 for taxpayers of Jammu and Kashmir, having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or current financial year, for each of the months from July, 2019 to September, 2019 till 24th March, 2020.