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GST > 2020 Instructions / Guidelines

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Instruction No. 2/1/2020 – GST: Implementation of Decision to Expedite Pending Refund Claims – reg.

Kind attention is drawn to the Press Note dated 08th April 2020 of Department of Revenue, Ministry of Finance with regards to refunds. It has been inter-alai decided that all pending GST refunds including IGST refunds shall be expeditiously processed.

InstructionNo.3/2/2020 – GST: Payment of GST by real estate promoter/developer supplying construction of residential apartment etc., on the shortfall value of inward supplies from registered supplier at the end of the financial year–reg.

A revised GST rate has been prescribed, w.e.f. the 1stApril, 2019 on the supply of service by way of construction of residential apartment. Under this, construction of affordable residential apartments attracts GST at the rate of 1% [without ITC]and other residential apartments attract GST at the rate of 5% [without ITC].

Admin instructions for recovery of interest on net cash tax liability w.e.f. 01.07.2017 -reg.

Based on the recommendations of the 35″ meeting of the GST Council held on 21st June 2019, the provision of section 50 was amended vide section 100 of the Finance (No. 2) Act, 2019 to provide for charging interest on the net cash tax liability.

InstructionNo.3/2/2020 – GST: Payment of GST by real estate promoter/developer supplying construction of residential apartment etc., on the shortfall value of inward supplies from registered supplier at the end of the financial year–reg.

A revised GST rate has been prescribed, w.e.f. the 1stApril, 2019 on the supply of service by way of construction of residential apartment. Under this, construction of affordable residential apartments attracts GST at the rate of 1% [without ITC]and other residential apartments attract GST at the rate of 5% [without ITC].

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Shielding Your Business: A Comprehensive Guide to Business Continuity Planning (BCP)

Business Continuity Planning (BCP) is like a safety net for businesses, ready to cushion the impact when the unexpected hits. It’s more than just disaster management—it’s a strategic contingency plan ensuring the safety of a company’s assets, processes, and resources against unforeseen disruptions.

FAQs on GST applicability on ‘pre-packaged and labelled’ goods- reg

The changes relating to GST rate, in pursuance of recommendations made by the GST Council in its 47th meeting, are coming into effect from the 18th of July, 2022. One such change is moving from imposition of GST on specified goods when bearing a registered brand or brand in respect of which an actionable claim or enforceable right in a court of law is available to imposition of GST on such goods when “pre-packaged and labelled”. Certain representations have been received seeking clarification on the scope of this change, particularly in respect of food items like pulses, flour, cereals, etc. (specified items falling under the Chapters 1 to 21 of the Tariff), as has been notified vide notification No. 6/2022-Central Tax (Rate), dated the 13th of July, 2022, and the corresponding notifications for SGST and IGST.

FAQ on GST for Traders (Frequently Asked Questions)

Under GST, a trader would be entitled to avail input tax credit paid on their domestic procurements of goods and services unlike the present indirect tax regime. Presently, a significant portion of indirect taxes namely Central Excise and Service Tax form part of the cost component for a trader.

Order No. 01/2022 – GST: Authorization Under CGST Rules

Explore Order No. 01/2022 – GST: Authorisation Under CGST Rules & its implications for taxpayers. Get informed and stay compliant with the latest updates.

Electronic Way Bill in GST

Electronic Way Billi’s a document required for movement of goods and it includes details such as name of consignor, consignee, transporter, the point of origin of the movement of godsend its destination.Electronic Way Bill (e-way bill) is basically a compliance mechanism wherein by way of a digital interface the person causing the movement of goods uploads the relevant information prior to the commencement of movement of goods and generates e-way bill on the GST portal.

Order No. 01/2020 – GST: Extension of FORM GST TRAN-1

Explore Order No. 01/2020 – GST: Extension of FORM GST TRAN-1 & its implications for taxpayers. Get informed and stay compliant with the latest updates.

Order No. 01/2020 – CT: Revocation of Cancellation of Reg.

Explore Order No. 01/2020 – CT: Revocation of Cancellation of Reg. & its implications for taxpayers. Get informed and stay compliant with the latest updates.

FAQs On TCS Under GST (Frequently Asked Questions)

As per Section 2(44) of the CGST Act, 2017, electronic Commerce means the supply of goods or services or both, including digital products over digital or electronic network.

FAQs on Anti-profiteering provisions (Frequently Asked Questions)

In terms of Section 171 of the CGST Act, 2017, the suppliers of goods and services should pass on the benefit of any reduction in the rate of tax or the benefit of input tax credit to the recipients by way of commensurate reduction in prices. The wilful action of not passing on the above benefits to the recipients in the manner prescribed is known as “profiteering”.

Order No. 01/2019 – GST: Extension of time limit for TRAN-1

Explore Order No. 01/2019 – GST: Extension of time limit for TRAN-1 & its implications for taxpayers. Get informed and stay compliant with the latest updates.

Notification No. 34/2017 – Integrated Tax (Rate) Explained

Notification 34/2017 brings services by RBI Overseeing Committee under Reverse Charge. Learn applicability, impact, and compliance.

Notification No. 47/2018 – Central Tax Explained

Notification No. 47/2018 – Central Tax extends GSTR-3B filing for newly migrated taxpayers till 31 Dec 2018. FAQs, examples, and guide.

Circular No. 124/43/2019 – GST: Optional Annual Return Guide

Learn Circular 124/43/2019-GST on optional GSTR-9 and GSTR-9A filing for taxpayers with turnover up to ₹2 crore for FY 2017-18 and 2018-19.

Section 164. Power of Government to make rules.-

(1) The Government may, on the recommendations of the Council, by notification, make rules for carrying out the provisions of this Act.

Notification No. 53/2020 – Central Tax Explained

Notification No. 53/2020 – Central Tax waives late fees for delayed filing of GSTR-1 from March to June 2020 (monthly filers) and Jan–June 2020 (quarterly filers).

Circular No. 141/11/2020 – GST: COVID-19 GST Relief Guide

Learn the GST relief measures under Circular No. 141/11/2020-GST covering reduced interest, late fee waiver and GSTR-3B/GSTR-1 compliance.

Notification No. 15/2018 – Central Tax Explained

Notification No. 15/2018 – Central Tax notifies 1 April 2018 as the effective date for E-Way Bill rules under GST.

Notification No. 43/2017 – Central Tax (Rate) Explained

Understand Notification 43/2017 GST—reverse charge on raw cotton, applicability, rules, and real impact on textile businesses.

Circular No. 200/12/2023 – GST: GST Rates on Certain Goods

Learn Circular No. 200/12/2023-GST on GST rates for snack pellets, fish soluble paste, raw cotton, areca leaf products, HSN 9021 and more.

Order No. 2/2019 – UT Tax | Clarify GST Bill of Supply Rule

Order No. 2/2019 – Union Territory Tax clarifies that taxpayers under Notification No. 2/2019 must issue a bill of supply. Stay GST compliant with Finodha.