04/06/2018

GST REFUND - GSTR 3B AND GSTR 1 is not required for all ( Author - HIMANSHU TIWARI )

For GST Refund GSTR-1 & 3B not must for all. Composition taxpayer to file GSTR-4, ISD-GSTR-6 & non-resident-GSTR-5. Circular 45/19/2018-GST of 30.5.18. 
The Central Board of Indirect Taxes and Customs (CBIC) have asked its field offices to levy GST on goods in customs warehouse only at the time of final clearance. 
CBEC issued procedure for sanction of pending IGST refund claims where records have not been transmitted from GSTN to DG systems. CIRCULAR NO.12/2018-CUSTOMS [F.NO.450/119/2017-CUSIV], DATED 29-5-2018
Eight state governments on Thursday announced their plans to roll out the electronic way bill (e-way bill) mechanism for transport of goods within their territories by June 3, a move that would lead to pan-India implementation of the crucial ant-evasion system under the goods and services tax (GST) 
Delhi High Court has sought a formal explanation from the MCA for its twin circulars of September 2017 that deregistered over 1 lakh companies for failure to file annual returns for three years and disqualified their directors.
RBI has ended the special dispensations granted earlier for NBFCs owned by the government. Instead, it has specified a roadmap, stretching till 2021-22, for these lenders to meet the norms on capital adequacy, provisioning and corporate governance.  

About the author

HIMANSHU TIWARI

CHARTERED ACCOUNTANT

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