two. Due date of declaring ITC, producing revenue/credit read more rating-debit Notice amendments of a economic calendar year is prolonged upto 30th November of 12 months adhering to the fiscal 12 months.

Amendments to area 16 of CGST Act, 2017: Modification was manufactured to part 16 governing enter Tax Credit (ITC) promises. In scenarios where a recipient taxpayer fails to pay for their supplier for an Bill (including the GST benefit) in just 180 times in the day of problem from the invoice, they must pay to The federal government an amount equal towards the ITC claimed with fascination.

The non-furnishing of GSTR-3B for two consecutive tax intervals or suspension of GSTIN beneath CGST Rule 21A will bring about blocking of e-way charges under Rule 138E.

The deadline for that taxpayers to say the benefit of decreased penalty, by having to pay the tax demanded along with fascination, can be improved from 30 to sixty times.

Furthermore, Section 16(4) shall be calm exactly where returns for the time period within the day of cancellation of registration/ powerful date of cancellation of registration until the day of revocation of cancellation on the registration, are filed via the registered particular person within 30 days of the buy of revocation.

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"every single week There exists a Tale of someone killing themselves for this reason [debts incurred as a result of on line gaming]," he claimed.

Along with the announcement of financial restrictions for The federal government to file GST litigation, the NDA govt has strike the ground managing on two policies in the last two weeks to lessen litigation.

The Council will meet up with once more in August to finalise the GST fees for online gaming, horse racing and casinos — a decision it postpone this time for fresh stakeholder consultations. It may also kick off the procedure to type an appellate tribunal for resolving GST disputes, envisaged because its start in July 2017. With in excess of a dozen States urging the Centre to carry on the GST payment paid to them for the 1st five years with the GST regime as income flows are already strike through the pandemic, it is actually hoped that clarity arrives via on this situation via the August Assembly.

Gambling, that's seen as an opportunity-based recreation, is illegal in many India states which is frowned upon. But most states have authorized online online games which happen to be noticed as skill-centered.

Maverick Viñales amazed with a fourth-spot finish for Aprilia, even though the combat with the championship stays restricted.

They may additionally introduce a database to keep up report of most up-to-date standing of many of the pending scenarios. If passed, this may be A serious shift to streamline the GST adjudication process. 

Patanjali Foods is served a present bring about notice from the GST intelligence Section, inquiring the company to elucidate why input tax credit worth Rs 27.forty six crore really should not be recovered from it.

The parlours provide ice cream as a "very good instead of to be a support, even if the supply has specific components of a services".