Important GST Advisories—May 2025 May, 01,2025– Implementation of HSN Code Reporting in GSTR-1/1A (Phase-3) Starting May 2025, the third phase of HSN code reporting in GSTR-1/1A is being rolled out. Under this phase, taxpayers will need to select HSN codes from a dropdown list—4-digit codes for those with turnover up to ₹5 crore, and 6-digit codes for those exceeding ₹5 […]
Private Agreements Do Not Override Statutory RCM Liability – Allahabad High Court Private Agreements Do Not Override Statutory RCM Liability – Allahabad High Court Facts: The petitioner (a service recipient) entered into an agreement with the supplier where the supplier agreed to bear all GST liabilities. However, GST authorities demanded tax under the Reverse Charge Mechanism (RCM) from the petitioner. […]
Key GST Amendments Effective April 1, 2025 The Goods and Services Tax (GST) framework in India is set to undergo significant amendments to enhance compliance, streamline tax administration, and improve transparency in business transactions. Below are the major changes: 1. Tax Rate Changes Used Car Sales: GST rate increased from 12% to 18%, impacting the pre-owned car market. GST Rates […]
GST Implications on Sub-Contracted Goods Transportation: Classification as Vehicle Rental Service Background: The taxpayer entered into an arrangement with a principal Goods Transport Agency (GTA) for the transportation of goods. The taxpayer, however, did not issue consignment notes but merely provided trucks for the transportation of goods. Issue: Whether the transportation service provided by the taxpayer as a sub-contractor to […]
GST Calendar –Compliances for the month of January ’2025 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) February 10, 2025 GSTR-8 (Tax Collected at Source ‘TCS’) February 10, 2025 GSTR-1 February 11, 2025 IFF- Invoice furnishing facility (Availing QRMP) February 13, 2025 GSTR-6 Input Service Distributor February 13, 2025 GSTR-2B (Auto Generated Statement) February 14, 2025 GSTR-3B […]
GST Calendar –Compliances for December ’2024 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) January 10,2025 GSTR-8 (Tax Collected at Source ‘TCS’) January 10,2025 GSTR-1 January 11,2025 IFF- Invoice furnishing facility (Availing QRMP) January 13,2025 GSTR-6 Input Service Distributor January 13,2025 GSTR-2B (Auto Generated Statement) January 14,2025 GSTR-3B January 20,2025 GSTR-5 (Non-Resident Taxable Person) January 20,2025 GSTR-5A […]
GST Calendar –Compliances for the month of November ’2024 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) December 10,2024 GSTR-8 (Tax Collected at Source ‘TCS’) December 10,2024 GSTR-1 December 11,2024 IFF- Invoice furnishing facility (Availing QRMP) December 13,2024 GSTR-6 Input Service Distributor December 13,2024 GSTR-2B (Auto Generated Statement) December 14,2024 GSTR-3B December 20,2024 GSTR-5 (Non-Resident Taxable Person) […]
GST Calendar –Compliances for the month of November ’2024 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) November 10,2024 GSTR-8 (Tax Collected at Source ‘TCS’) November 10,2024 GSTR-1 November 11,2024 IFF- Invoice furnishing facility (Availing QRMP) November 13,2024 GSTR-6 Input Service Distributor November 13,2024 GSTR-2B (Auto Generated Statement) November 14,2024 GSTR-3B November 20,2024 GSTR-5 (Non-Resident Taxable Person) […]
GST Calendar –Compliances for the month of October’2024 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) October 10,2024 GSTR-8 (Tax Collected at Source ‘TCS’) October 10,2024 GSTR-1 October 11,2024 IFF- Invoice furnishing facility (Availing QRMP) October 13,2024 GSTR-6 Input Service Distributor October 13,2024 GSTR-2B (Auto Generated Statement) October 14,2024 GSTR-3B October 20,2024 GSTR-5 (Non-Resident Taxable Person) October […]
GST Calendar –Compliances for the month of September’2024 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) September 10,2024 GSTR-8 (Tax Collected at Source ‘TCS’) September 10,2024 GSTR-1 September 11,2024 IFF- Invoice furnishing facility (Availing QRMP) September 13,2024 GSTR-6 Input Service Distributor September 13,2024 GSTR-2B (Auto Generated Statement) September 14,2024 GSTR-3B September 20,2024 GSTR-5 (Non-Resident Taxable Person) September […]