February 3, 2021
Central government is empowered to make or amend rule, whether on recommendation of GST council or otherwise, under section 164 of the (CGST Rules)Central Goods and Service Tax Act, 2017. In accordance with this power, on recommendation of GST Council, Central government on 22nd December 2020, vide notification no. 94/2020, hereby made following rules to amend
February 3, 2021
Table of Contents IntroductionWhy is Input Tax Credit relevant?Journey of Input Tax Credit Rule 36(4)Impact of this Input Tax Credit rule on taxpayerVALIDITY: (Here, validity means how valid and just, rule 36(4) is): -Claim upto 100% Input Tax Credit IntroductionIn the world of GST, Input Tax Credit (Commonly known as ITC) is a big relaxation
February 2, 2021
GSTHero is here to keep you updated & reminded of the essential GST Return Due Dates through GST compliance calendar.The due date to file your Annual Return form GSTR 9 and Reconciliation statement GSTR-9C for FY 2019-20 is February 28th, 2021.GST Compliance Calendar For The Month of February, 2021 contains Compliance Requirement Under Income Tax
January 29, 2021
Form GSTR-3B is a return summarizing GST liability of the registered person for a specific tax period.Provisions of section 39(1) of the CGST Act, 2017 and rule 61 of the Central Goods and Services Tax Rules, 2017 governs the GSTR-3B filing.Watch video on GSTR-3B Filing with maximum Input Tax Credit Recently, both the above provisions
January 22, 2021
Electronic invoicing system or e-Invoicing under GST, which is commonly known as e-Invoicing system, is inserted by government to authenticate the invoices generated under B2B transactions. On 20th September 2019, GST Council in its 37th Meeting approved the proposal to introduce E-invoice under GST. Accordingly, from 1st January 2020, it became voluntary and from 1st October 2020
January 9, 2021
The year 2021 is one of the most important years of this decade. Being the first year immediately after an unforeseen pandemic, we all have big hopes & expectations from the year. 4 Important Facts about GSTR-9 Filing We are hoping that this year is the year of healing from the entire crisis that rose