Tanwar Gupta & Associates

02/09/2023

Dear All,

Please find enclosed herewith GST compliance calendar for the month of September 2023 for your kind reference.

Please follow for more tax related updates.

08/08/2023

Dear All,

Please find enclosed herewith our knowledge update on Rule 88D of CGST Rules for the mechanism to deal electronically with the cases concerning differences between ITC availed in GSTR3B and that available in GSTR-2B.

To access the update please click on the below link:

https://www.linkedin.com/feed/update/urn:li:activity:7094736027054977026

Please do let us know your valuable suggestions.

Please do follow us for more tax updates.

11/07/2023

TGCA Tax Update

Key takeaways of 50th GST council meeting

1. Transporters will not be required to file declaration for paying GST under forward charge

2. RCM not leviable on services supplied by a director to the company in his personal capacity such as supplying services by way of renting of immovable property to the company

3. Relief for taxpayer, Govt extended the special procedure regarding mismatch in ITC availed in GSTR-3B and 2A for two more years i.e 2019-20, 2020-21 and upto 31.12.21.

4. Amnesty schemes notified vide notifications dated 31.03.2023 regarding non-filers of FORM GSTR-4, FORM GSTR-9 & FORM GSTR-10 returns, revocation of cancellation of registration extended till 31.08.2023

5. To do away with the requirement that the physical verification of business premises is to be conducted in the presence of the applicant

6. To provide for physical verification in high risk cases even where Aadhaar has been authenticated.

7. System-based intimation to the taxpayers in respect of the excess availment of ITC in FORM GSTR-3B vis a vis that made available in FORM GSTR-2B

8. Supply of food and beverages in cinema halls to become taxable at 5%

9. If the sale of cinema ticket and supply of food and beverages clubbed together then gst rate of cinema ticket will apply

10. 28% GST on the value of the chips purchased in casinos

11. 28% GST on the full value of the bets placed in Online Gaming

12. GST Appellate tribunal will be started in a phased manner

13. Relaxations provided in FY 2021-22 in respect of various tables of FORM GSTR-9 and FORM GSTR-9C be continued for FY 2022-23

14. No GSTR-9 for turnover upto 2 crores

15. Input Services Distributor (ISD) mechanism is not mandatory for distribution of input tax credit of common input services procured from third parties to the distinct persons as per the present provisions of GST law. Amendment may be made in GST law to make ISD mechanism mandatory prospectively

16. Detailed Circular to be issued to provide clarity on liability to reverse input tax credit in cases involving warranty replacement of parts and repair services during warranty period

17. Refund of accumulated input tax credit (ITC) to be restricted to ITC appearing in FORM GSTR-2B

18. Only Name of state on tax invoice, not the name and full address of the recipient, in cases of supply of taxable services by or through an ECO.

03/06/2023

Dear All,

Please find enclosed herewith GST compliance calendar for the month of June 2023 for your kind reference.

Please follow for more tax related updates.

03/06/2023

Dear All,

This is to inform you that July 31st, 2023 is the last date to file income tax return for the Assessment Year 2023-24 for individuals (including NRIs), LLPs and other persons not subject to tax audit.

Please ensure timely filing of the returns in order to avoid repercussions from income tax department.

Please follow for more updates.

31/05/2023

Dear All,

We are pleased to share the weekly newsletter for this week containing key updates/judgments relating to indirect taxes. Trust you would find this useful.

To access the newsletter, please click on the below link:

https://www.linkedin.com/feed/update/urn:li:activity:7069655701500928000

Happy reading

Please follow for more tax updates.

Best Wishes, Team TGCA

26/05/2023

Dear All,

We are delighted to announce that our monthly GST updates section has been duly published in the monthly newsletter of ICAI for the month of April 2023. Attached herewith is the glimpse of the same for your kind reference.

To access the whole newsletter for the month of April 2023, please click on the below link:

https://drive.google.com/file/d/1WZVzekyFuDg9UKI5XXexFftzfcfKIiGo/view

Please do share your valuable comments and let us know your suggestions.

18/05/2023

TGCA Update

Supreme Court dismayed at lack of implementation of POSH Act; orders Central, State government to ensure ICCs are constituted and compliance is done.

Please ensure POSH compliance at your workplace.

09/05/2023

Dear All,

We are pleased to share the weekly newsletter for this week containing key updates/judgments relating to indirect taxes. Trust you would find this useful.

To access the newsletter, please click on the below mentioned link:

https://www.linkedin.com/feed/update/urn:li:activity:7061614370539081728

Happy reading

Please follow for more tax updates.

Best Wishes, Team TGCA

02/05/2023

Dear All,

Please find enclosed herewith GST compliance calendar for the month of May 2023 for your kind reference.

Please follow for more tax related updates.

01/05/2023

Dear All,

We are pleased to share the weekly newsletter for this week containing key updates/judgments relating to indirect taxes. Trust you would find this useful.

To access the newsletter, please click on the below link:

https://www.linkedin.com/feed/update/urn:li:activity:7058847004826714114
Happy reading

Please follow for more tax updates.

Best Wishes, Team TGCA

Dear All, We are pleased to share the weekly newsletter for this week containing key updates/judgments relating to indirect taxes. Trust you would find this…

30/04/2023

Dear All,

Please find enclosed herewith our knowledge update on cancellation of GST registration. Hope you find the attached useful.

Please click on the below link to access the update:

https://www.linkedin.com/posts/tanwar-gupta-associates_tgca-knowledge-update3pdf-activity-7058486977637064704-DJum?utm_source=share&utm_medium=member_desktop

Please do let us know your valuable suggestions.

Please do follow us for more tax updates.