Chartered Accountants
(Date: 27/08/2019)
On August 26, 2019 vide Order No. 7/2019-Central Tax, CBIC has extended the due date for filing of GST Annual Return and GST Audit from August 31, 2019 to November 30, 2019 for the period July, 2017 to March, 2018.
(Date: 10/12/2018)
The Govt. has clarified that there is no GST on sale of complex or building and ready to move-in flats where sale takes place after issue of completion certificate by the competent authority. The GST is applicable only on sale of under-construction property or ready to move-in flats where completion certificate has not been issued at the time of sale.
(Date: 20/11/2018)
The GST Practitioners Exam has been postponed to December 17, 2018 on account of Assembly Elections in some of the States.
(Date: 26/10/2018)
The due date for filing details of goods or capital goods sent to job worker and received back in Form GST ITC-04 extended to December 31, 2018 for the period July, 2017 to September, 2018.
(Date: 26/09/2018)
Cabinet has approved 100% Govt. ownership in GST Network. The restructure GSTN shall have equity structure between the Centre (50%) and the States (50%).
(Date:17/09/2018)
The CBIC has issued the guidelines for deduction and deposit of TDS by Drawing and Disbursing Officer (DDO) under GST. There are two options for payment of TDS. First is generation of challan for every payment made during the month and second is bunching of TDS deducted from the bills on weekly, monthly or any periodic basis.
(Date: 14/09/2018)
The provisions of tax deduction at source (TDS) and collection of tax at source (TCS) under sections 51 and 52 of the Central GST Act, 2017 respectively are applicable from October 1, 2018.
(Date: 13/09/2018)
The CBIC has clarified that 12% GST would be applicable on trading of Priority Sector Lending Certificates (PSLCs). It has also clarified that GST on PSLCs for the period July 1, 2017 to May 27, 2018 will be paid by the seller bank on forward charge basis.