Incomplete GSTR 2B in case of affected taxpayers for April 2022

-GSTN has received complaints from many taxpayers that certain records are not reflected in their GSTR 2B statement for the period of April 2022 even though such details are properly reflected in GSTR 2A. -GSTN is trying to resolve this technical glitch, but it doesn’t seems to be resolved till 20th May i.e. due date […]

GST on BRICKS – Tax Rate, ITC, Reporting and Other Matters

From 1st April 2022, rate of tax along with the claiming of Input Tax Credit and the reporting details of the same in GSTR 1 has undergone major changes. We are trying to explain the same in an easy way as below: Nature of BRICKS covered: Tariff Item Description Rate till 31.03.22 Rate from 01.04.22[…..]

GST – Proposed amendments by Finance Act, 2022

Dear Readers, We have tried to cover major amendments brought in by Finance Act, 2022 in the GST Law. Further, we have divided the same as summary part and detailed part so that reader can read as per his comfort. Income tax version will follow soon. Insertion of Section 16(2)(ba) and substitution of a new[…..]

Decoding Notification No. 39/2021 – GST dated 21st December 2021.

GST_Update – Notification No. 39/2021 – Central Tax dated 21st December, 2021 Union Budget 2021 has presented various amendments to the GST Law through Finance Act, 2021. However, the same were not notified at that time. Now, the department has issued Notification No. 39/2021 – Central Tax on 21st December, 2021 notifying the applicability of[…..]