Nummus Consultants LLP

06/10/2023

GST Monthly Updates | October 23
- October 23 Compliance Calendar
- Central Govt Exempts 5% GST on Ocean Freight Imports w.e.f. October 1st
- Time limit for Reporting Invoices on the IRP Portal
- Assessee is Responsible to Monitor GST portal on GST Registration Cancellation: Kerala HC upholds Cancellation of Registration
- ITC Cannot Be Denied Solely Based on GSTR 2A and 3B Discrepancy: Kerala HC Remits Matter Back for Evidence Examination
- 52nd GST Meeting Scheduled for October 7

1. GST DEADLINES 1.1. Deadlines | October 23 a. GST Compliance Calendar – October 2023 b. GST Annual Return and Reconciliation Statement (GSTR9 and GSTR9C) Due date 31st Dec 2023 for FY 22-23. 2. Notifications 2.1. Central Govt Exempts 5% GST on Ocean Freight Imports w.e.f. October 1st (Notificati...

09/09/2023

GST Monthly Updates | Sep 23
- E-Way Bill for Intra-State Movement of Gold and Precious Stones above 2 Lakhs worth,
- Sep 23 Compliance Calendar,
- New Form GST DRC-01C for Intimation of difference in ITC available in GSTR-2B and GSTR-3B,
- Introduction of Electronic Credit Reversal and Reclaimed Statement from Aug 23 GSTR3B,
- 51 GST Council meeting highlights

1. GST DEADLINES 1.1. Deadlines | September 23 ● GST Compliance Calendar – September 2023 ● GST Annual Return and Reconciliation Statement (GSTR9 and GSTR9C) Due date 31st Dec 2023 for FY 22-23. 2. Notifications 2.1 Central Govt notifies New GST Rule 138F for E-Way Bill for Intra-State Movemen...

04/08/2023

1. GST DEADLINES 1.1.Deadlines | August 23 ● GST Compliance Calendar – August 2023 ● GST Annual Return and Reconciliation Statement (GSTR9 and GSTR9C) Due date 31 st Dec 2023 for FY 22-23. 2. Circulars or Clarifications 2.1. Interest to be paid only if wrongly availed ITC is utilised (Circular...

04/04/2023

GST April 23 | Year End Tasks
- GST Amnesty Schemes
- April 23 Compliance Calendar
- FY 22-23 Reconciliations

1. GST DEADLINES 1.1. Deadlines | Apr 23 ● GST Compliance Calendar – Apr 2023 2. GST PORTAL UPDATES 2.1. GSTIN to GSTIN Cash Ledger Balance Transfer by GST PMT-09 (Advisory Dated: 07/03/2023) The GST Portal has been updated with a new functionality to enable taxpayers to transfer the available c...

08/03/2023

49th GST Council Meeting

1. GST DEADLINES 1.1.Deadlines | March 23 ● GST Compliance Calendar – March 2023 2. 49th GST COUNCIL MEETING RECOMMENDATIONS 2.1 RCM extended to Courts and Tribunal in respect of taxable services Notification No. 02/2023-CT; Dated 28/02/2023 It has been decided to extend the dispensation availab...

04/10/2022

GST Monthly Updates | Oct 22
- GST Compliance Calendar
- GST Amendments by Finance Act 2022 applicable from 1 Oct 22
- Transition return live on GSTN portal
- Pre Deposit can be paid via electronic credit ledger: Bomaby HC

Dated: 05 Oct 2022 1. GST DEADLINES 1.1.Deadlines | October 22 ● GST Compliance Calendar – Oct 2022 ● GST Annual Return and Reconciliation Statement (GSTR9 and GSTR9C) Due date 31st Dec 2022 for FY 21-22. 2. Circulars or Clarifications 2.1. GUIDELINES FOR LAUNCHING OF PROSECUTION OF GST OFFENC...

03/09/2022

GST Monthly Letter covering important updates during the month of August 22 including:

- Recent GST Rate Changes & Exemptions,

- Applicability of GST on Liquidated Damages, Notice Pay Recovery,

- Applicability of E invoice for Turnover more than 10 cr,

- GST Transitional Credit filing from Oct to Dec 22

- RCM on House Rent

Dated: 05 Sep 2022 1. GST DEADLINES 1.1.Deadlines | September 22 ● GST Compliance Calendar – Sep 2022 ● GST Annual Return and Reconciliation Statement (GSTR9 and GSTR9C) Due date 31st Dec 2022 for FY 21-22. 2. Circulars or Clarifications 2.1. GST Rates and Classification Based On the Recommend...

17/03/2022

GST Awareness program in association with KGCCI. 15 March 2022, Rudrapur.

07/03/2022

1. GST DEADLINES 1.1. Deadlines | Mar 22 ● GST Compliance Calendar – Mar 2022 2. CIRCULARS 2.1 GST dept issues Clarifications regarding Issues relating to Incorrect Reporting of GSTR-1 and ITC Claim (Circular No.02A of 2022; Dated:26/02/2022; Mumbai CGST Department) With regard to the errors in ...

06/01/2022

Synopsis of important legal developments during the month of Dec 2021 including the following:

- GST Compliance Calendar for the month of Nov 21,
- Key Changes W.e.f. 1 Jan 2022,
- Concessional rate of 5% on FRK when supplied under a scheme approved by the CG/ SG
- GSTR-3B is a ‘Return’ specified u/s 39 of GST Act: Supreme Court reverses Gujarat HC’s order

Dated: 05 Jan 2022 1. GST DEADLINES 1.1. Deadlines | Jan 22 ● GST Compliance Calendar – Jan 2022 ·● GST Annual Return and Reconciliation Statement (GSTR9 and GSTR9C) Due date 28st Feb 2022 for FY 20-21. 2. Circulars or Clarifications 2.1. 1,29,780 crore gross GST Revenue collection for Decemb...

13/11/2021

GST MONTHLY - NOV 21
Synopsis of important legal developments during the month of October 2021 including the following:

- GST Compliance Calendar for the month of Nov 21,
- De-Activation of IECs not updated on the DGFT,
- 12% GST on Hitherto, Corrugated Boxes and Cartons, clarifies CBIC,
- GSTN displays Error for Preparation of E-Way Bill if IRN is generated 2 days prior,
- ITC not allowed if supplier furnishes invoices for FY 2019-20 in GSTR-1 of November 2020,
- Mere suspicion is not sufficient to invoke provision of confiscation.

1. GST DEADLINES 1.1. Deadlines | Nov 21 ● GST Compliance Calendar – Nov 2021 ● GST Annual Return and Reconciliation Statement (GSTR9 and GSTR9C) Due date 31st Dec 2021 for FY 20-21. 2. Circulars or Clarifications 2.1. De-Activation of IECs not updated on the DGFT: Trade Notice (Trade Notice 1...

05/10/2021

GST MONTHLY - OCT 21
Synopsis of important legal developments during the month of Sep 2021 including following:

- GST Compliance Calendar for the month of Oct 21,
- Checklist for filing Sep 21 GSTR 3B return,
- Various circulars issued by CBIC as per the recommendation of 45th GST Council Meeting,
- Changes in GST Portal implemented during Sep 21,
- GST Rate Changes applicable from 1 Oct 2021,
- Landmark decision of SC regarding validity of Rule 89(5).

1. GST DEADLINES 1.1. Deadlines | Oct 21 ● GST Compliance Calendar – Oct 2021 ● GST Annual Return and Reconciliation Statement (GSTR9 and GSTR9C) Due date 31st Dec 2021 for FY 20-21. NOTE: Due date of Sep 21 GSTR3B return (i.e. 20 Oct 2021) is the last date to make any of the following changes...