GST Calendar for December 2021

Post author:WhyTax
Post published:December 1, 2021
Post category:Due Dates GST
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10-12-2021- GSTR-7 for the month of November, 2021. GSTR 7 is a return to be filed by the persons who are required to deduct TDS (Tax deducted at source) under GST 10-12-2021- GSTR-8 for the…

Section- 34 of CGST Act- Debit and Credit Note under GST

Post author:WhyTax
Post published:November 26, 2021
Post category:GST
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A. When to issue Credit Note: (i) To decrease value of Supply: The supplier has erroneously declared a value which is more than the actual value of the goods or services provided. (ii) To decrease GST: The…

GST Rate on Footwear and Apparel will increase from 5% to 12%

Post author:WhyTax
Post published:November 20, 2021
Post category:GST
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CBIC Vide Notification No. 14/2021-Central Tax (Rate) dated 18.11.2021 has increased the Rate of GST on Apparel, Fabric and Footwear from 5% to 12% w.e.f. 01.01.2022. To correct the inverted duty structure for textiles and…

Advisory for taxpayers on Form GSTR-2B

Post author:WhyTax
Post published:October 23, 2021
Post category:GST
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GSTN issued Advisory on Form GSTR-2B Following are the points under Advisory: 1. Form GSTR-2B is an auto-drafted ITC statement which is generated for every normal taxpayer on the basis of the information furnished by…

Resumption of Blocking of E-Way Bill

Post author:WhyTax
Post published:October 9, 2021
Post category:GST
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Resumption of Blocking of E-Way Bill (EWB) generation facility. 1. Temporary Suspension of blocking earlier: The blocking of E way bill generation facility had been temporarily suspended by Government on account of Covid pandemic. In…

Compliance Calendar for October 2021

Post author:WhyTax
Post published:October 1, 2021
Post category:Business Law GST Income Tax MCA
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S. No.StatuePurposeCompliance PeriodDue dateEvent Details1Income TaxTDS/TCS Liability DepositSep-217-Oct-21Due date of depositing TDS/TCS liabilities under Income Tax Act, 1961 for previous month.TDS DepositJuly 2021- Sept. 20217-Oct-21Due date deposit of TDS for July-Sep. 2021 u/s section 192,…

Changes of GST Rate – Applicable From 01.10.2021

Post author:WhyTax
Post published:September 30, 2021
Post category:GST
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The CBIC vide Notification No. 08/2021 Central Tax (Rate) dated September 30, 2021 has further amended Notification No. 01/2017-Central Tax (Rate) dated June 28, 2017 as amended from time to time, in order to adhere to the…

Waiver of Late fee and Interest for one day- GSTR 3B

Post author:WhyTax
Post published:September 21, 2021
Post category:GST
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GST Update: CBIC vide Twitter handle has said that "GST Update on difficulty in updation of Electronic Cash Ledger on 20.09.2021." Late Fee and Interest on late filing of GSTR 3B has been waived for…