Shortfall Tax Payment by Real Estate Promoters using GST DRC-03
CBIC has prescribed Form GST DRC-03 for payment of shortfall tax upto 30 June 2020, by Real Estate Promoters/ Developers on account of below 80% value of inward supplies …
Tag: Tax Payment
CBIC Notifies Procedure for Quarterly Tax Payment/ Annual Filing of Return by Taxpayers under Optional Composition Scheme
CBIC issued Notification 21/2019 Central Tax dt. 23 April 2019 for prescribing the procedure for quarterly tax payment and annual filing of return by taxpayers availing the benefit of …
CBIC Clarification on Payment of CGST/ SGST instead of IGST on Supply of Warehoused Goods
CBIC clarifies that where taxpayers have paid CGST/ SGST on supply of warehoused goods while depositing in custom bonded warehouse during July 2017 to March 2018 (treating such supplies …
Guidelines for Deduction/ Deposit of ‘GST TDS’ by DDO: CBIC Circular
CBIC has issued a Circular on Guidelines for Deductions and Deposits of GST TDS by the DDO (i.e. under Section 51 of the CGST Act, 2017), from the payment made …
Reduced/ Nil Late Fee for Delayed Filing of GSTR-3B notified by CBEC
CBEC has notified revised/ reduced late fee for delayed filing of GSTR-3B, as recommended by GST Council. Taxpayers having Nil/ Some tax liability in a month shall pay late …
Exemption from GST Payment on Advance for Supply of Goods notified by CBEC
CBEC has issued Notification Exempting All Taxpayers (except Composition Dealers) from GST Payment on Advance Received for Supply of Goods, in line with recommendations of the GST Council Meeting …
CBEC Notifies Quarterly GST Return/ Tax Payment by Small Taxpayers
CBEC has notified that the Small Taxpayers having Aggregate Turnover of less than Rs. 1.5 crores, who have not opted for Composition Scheme, shall be required to file GST …
If Supplier fails to upload Details of Invoice(s) in GSTR-1: GSTN Guidelines for Buyers
GST Portal (GSTN) has issued the Advisory/ Guidelines for Buyer/ Recipient Taxpayer (Purchasers) in case the Suppliers Taxpayer (seller) forgets to upload the details of Invoices in GSTR-1 Return, …
CBEC Procedure for GSTR-1 and GSTR-2 Reconciliation with GSTR-3B (System Based)
The CBEC has issued Policy Guidelines and procedure for system based reconciliation of information furnished by taxpayers in Forms GSTR-1 and GSTR-2 with GSTR-3B, including information about additional payment …