A QUICK GLANCE OF FOURTEENTH AMENDMENT (2020) – CGST RULES, 2017. 1. INCREASING TIME LIMIT FOR SYSTEM BASED GST REGISTRATION Vide Notification No. 94/2020-Central Tax dated 22nd December, 2020 the department has amended Rule 9 of Central Goods and Services Tax Rules, 2017(hereinafter referred to as “CGST Rules”) which states verification and approval of the application filed by the applicant seeking GST Registration. Through this amendment the time period for System Based GST Registration is increased from 3 days to 7 days. Further a proviso is inserted wherein it is mentioned that in cases where the applicant does not have Continue Reading
The Central Board of Indirect Taxes (“CBIC”) vide Notification No 43/2020 – Central Tax dated 16.05.2020 notified the retrospective amendment to Section 140 of Central Goods and Services Tax Act, 2017 (“CGST Act”). Through this notification, the Central Government hereby appoints the 18th day of May 2020, as the date on which the provisions of section 128 of the Finance Act, 2020 shall come into force. This notification empowered section 140 of the CGST Act to prescribe the time in which the assessee can claim his transitional credit. Earlier the Hon’ble Delhi High Court on 05.05.2020 in the matter of Continue Reading
May 18th 2020 | By Adv. Shitij Saini Before the introduction of the Goods and Services Tax Act, 2017 section 65 of the Finance Act 1994 defined “Services”. On perusal of section 65 of the Finance Act 1994, it can be construed that service tax will be attracted when a taxable service is provided by a defined service provider to a defined service receiver. Therefore, we can say that there will be no levy of service tax if the service is not provided by the defined service provider to a defined service receiver. For ready reference section 65B (44) of Continue Reading
May 18th 2020 | By C.A. Satinder Kumar Saini and Adv. Shitij Saini As we all are aware that lockdown 4.0 will be implemented from 18.05.2020. It is amply clear that this lockdown will be different from the earlier lockdowns. We are expecting that all businesses will resume with certain restrictions. As all businesses will be resuming soon, therefore, it is important to note that we all have to comply with our GST Compliances. In light of the above background, we are providing for your quick and ready reference the revised due dates of filing of GST Returns. FORM Continue Reading