Category: GST

e-invoicing Limit Revised

E- invoice limit reduced From 50cr to 20 Cr vide 01/2022 Dated 24th Feb, 2022: Applicable wef 01.04.2022. CBIC made E-invoice under GST mandatory for registered persons having aggregate turnover above ₹20 crore in any of the previous years from 2017-18 till 2021-22 with effect from 01st April, 2022. The existing limit of ₹50 crores […]
Read More

GST Updates-Dec 2021

29th Dec 2021 (1) The 46th GST Council meeting was held on 31st December 2021 in New Delhi. Union FM Nirmala Sitharaman led meeting has decided to defer the GST rate hike to 12% for textiles. (2) CGST Rule 36(4) is amended to remove 5% additional ITC over and above ITC appearing in GSTR-2B. From […]
Read More
budget 2022

Budget 2022 Highlights: Important points to know.

The Budget 2022 focused on ‘digital and technology’ and sectors like infrastructure, health, education and provision of e-services to the masses. This Union Budget laid a foundation and blueprint of the economy over ‘Amrit Kal’ of the next 25 years – from India at 75 to India at 100.India posted a 9.2% GDP growth, the […]
Read More

Purchase return & Sales Return in GST

1.The Purchase & sales returns are common in day-to-day business transactions. This concept is treated in a slightly different manner under GST Act 2017 2. Purchase Return: The purchase return is the return of the goods by the customer to the seller. From the GST perspective, it is a return by the recipient to the […]
Read More

Extension of closing date of late fee amnesty scheme and time limit for filing of application for revocation of cancellation of registration under GST Act

The Government, vide Notification No. 19/2021- Central Tax, dated 01.06.2021, had provided reliefto the taxpayers by reducing / waiving late fee for non-furnishing FORM GSTR-3B for the tax periodsfrom July, 2017 to April, 2021, if the returns for these tax periods are furnished between 01.06.2021to 31.08.2021.  The last date to avail benefit of the late […]
Read More

GST on sale of old and used vehicles

After the implementation of GST sale of used and old vehicles were taxed at the same rate as applicable on new vehicles which was 28% + Applicable cess which was up to 15%, and due to this effective tax on sale of old vehicles was upto 43%. This higher rate of tax was causing the […]
Read More

Opting-in for Composition Scheme for Financial year 2021-22

How to opt-in for Composition Scheme: The eligible registered taxpayers, who want to opt-in for composition scheme for the FY 2021-22, need to file FORM GST CMP-02 application, on or before 31st March, 2021, post login on GST portal. The taxpayers may navigate as follows: Log-in>Services > Registration > Application to opt for Composition Levy>Filing […]
Read More

CA Desk is a team of highly professional CA, CS, Lawyers who driving towards the integration of technology with traditional practices to cater to the need of MSMEs in the fast-moving and cost-effective world.

Malik Habib Complex
+91-8494-046-658
(10am - 05pm)

Sign Up for Weekly Digest

Get Latest Updates Right In Your Mailbox
No, thanks
Sign Up for Weekly Digest