Standard Operating Procedure to Be Followed In Case of Non-Filers of GST Returns
/ GST (Goods & Services Tax)

Standard Operating Procedure to Be Followed In Case of Non-Filers of GST Returns (Circular No. 129/48/2019 – GST, Dated 24 December 2019)

In case of non-furnishing of return under Sec. 39 or Sec. 44 or Sec. 45 of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as the “CGST Act”). It has further been brought to the notice that divergent practices are being followed in case of non-furnishing of the said returns.

In order to clarify the issue and to ensure uniformity in the implementation of the provisions of the law across field formations, the Board, in exercise of its powers conferred by section 168 (1) of the CGST Act, hereby issues the following clarifications and guidelines.

Summarized circular of the same are explained as follows:

Standard Operating Procedure to Be Followed In Case of Non-Filers of GST Returns

The proper officer would initiate action under section 29(2) of the CGST Act for cancellation of registration in cases where the return has not been furnished for the period specified in section 29.

SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019
/ Business

SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019 (open for 1-9-2019 to 31-12-2019)

    Note- the final hearing has not taken place as on 30.06.2019                                                          *** ‘Quantified’ means a written communication of the amount of duty payable under the indirect tax enactment [Section 121(g)]. Such written communication will include a letter intimating duty demand; or duty liability admitted by the person during enquiry, investigation or audit; or …

Continue Reading
Central Tax Notifications 68-72/2019
/ Others

Central Tax Notifications 68-72/2019

The Central Government just recently made changes to the Rules regulating the manner of issuing the tax invoices by issuing Notifications 68/2019 to 72/2019 on 13th December 2019. Here are the key takeaways to note which could change the manner you issue tax invoices. Notification 68 notifies of sub-rules (4), (5) & (6) after sub-rule …

Continue Reading
GST Updates
/ GST (Goods & Services Tax)

GST UPDATES

1. GST Press Release Dated 14th November,2019 : Due dates of filing of Form GSTR-9 (Annual Return) and Form GSTR-9C (Reconciliation Statement) for Financial Year 2017-18 extended to 31 st December 2019. 2.Due dates of filing of kind GSTR-9 (Annual Return) and kind GSTR-9C (Reconciliation Statement) for year 2018-19 to extended thirty one st March …

Continue Reading
Limited Liability Company Registration: Advantages, Disadvantages and Steps
/ Business

Limited Liability Company Registration: Advantages, Disadvantages and Steps

A liability company (LLC) may be a company structure within the United States whereby the homeowners aren’t in person liable for the company’s debts or liabilities. Limited liability firms are hybrid entities that mix the characteristics of an organization with those of a partnership or sole ownership. While the limited liability feature is comparable to that of an organization, the supply of flow-through taxation to the members of an LLC may be a feature of partnerships. Understanding limited liability company (LLCs) Limited liability corporations (LLCs) ar a business structure that’s allowed below state statutes. The rules surrounding LLCs vary from state …

Continue Reading