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This website contains information about recent changes mainly in GST laws. It also contains Articles on various topic in GST. Please visit the website and read.
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Hi Reader,
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Please find tax updates in Newsletter 26 dated 09.01.2022 as below:
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Index
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GSTN Update
1) 08.01.2022 : Upcoming functionality – Interest Calculator in GSTR-3B - As a facilitation measure for taxpayers & for assisting the taxpayers in doing a correct self-assessment, a new functionality of interest calculator is being released in GSTR-3B. Read more
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2) 06.01.2022 : Advisory on Revamped Search HSN Code Functionality - A revamped & enhanced version of Search HSN Functionality has been launched on the GST Portal. Read more
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3) 05.01.2022 : Module wise new functionalities deployed on the GST Portal for taxpayers - Various new functionalities are implemented on the GST Portal Read more
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4) 04.01.2022 : Reporting of supplies notified under section 9(5) / 5(5) by E-commerce Operator in GSTR-3B- E-commerce operator and registered person would report taxable supplies notified under section 9(5) of CGST Act, 2017 and similar provisions in IGST/SGST/UTGST Act in the following manner. Read more
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GST Update
1) 08.01.2022 - Guidelines for recovery proceedings under the provisions of section 79 of the CGST Act,2017 in cases covered under explanation to sub-section (12) of section 75 of the CGST Act, 2017-Reg. - Sub-section (12) of section 75 of the CGST Act, 2017 (hereinafter referred to as “the Act”) provides that notwithstanding anything contained in section 73 or section 74 of the Act, where any amount of self-assessed tax in accordance with the return furnished under section 39 remains unpaid, either wholly or... Read more
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GST in Media
1) 08.01.2022 : Issued show cause notices, but no record of outcome of cases: DGGI in RTI reply - Directorate General of GST Intelligence (DGGI) issued 158 show-cause notices for tax evasion, amounting to Rs 9,359 crore in the six years to FY21, but does not maintain a record of the outcome of those cases, a reply to an RTI query has revealed. City-based RTI activist Abhay Kolarkar had sought consolidated information pertaining to the Directorate General of GST from DGGI, which revealed that between FY15 and FY21, a total of 158 show-cause notices have been issued, involving an amount of Rs 9,358 crore. Read more
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2) 08.01.2022 : Power Of Search, Seizure And Arrest Under GST Should Not Be Used To Harass Taxpayers - In any tax administration, the provisions for inspection, search, seizure and arrest are provided to protect the interest of revenue department as well as genuine taxpayers and as a restraint for tax evasion. Read more
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3) 07.01.2022 : Footwear traders oppose GST hike, seek rollback - Ludhiana: The city’s footwear traders and manufacturers oppose the increase in the GST on this item from 5% to 12% since January 1, as they claim that it will cause them to lose sales and gain financial burden. Read more
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4) 06.01.2022 : Bring back GST Audit : ICAI to Govt. - Accounting rule maker Institute of Chartered Accountants of India (ICAI) has asked the government to bring back the audit and certification provisions relating to Goods and Services Tax (GST) annual returns, saying that doing away with audit will disrupt compliance. Read more
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5) 05.01.2022 : CBIC starts initiative to boost GST mop-up - Central Board of Indirect Taxes and Customs (CBIC) has started a new initiative of holding meetings with officials of state tax administrations across the country to further boost Goods and Services Tax (GST) revenue collections, showed an official communication. Read more
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Income Tax in Media
1) 06.01.2022 : Legal notice to Income tax dept for not extending ITR filing deadline - The All Odisha Tax Advocates Association (AOTAA) has issued a legal notice to the Central Board of Direct Taxes (CBDT) for not extending ITR filing deadline of filing returns of assessees of Odisha for the Assessment Year 2021-2022 and imposing late filing fee under section 234F of the Income Tax Act, 1961, in spite of many technical glitches in the new portal of the Income Tax Department. (ET Wealth online has a copy of the legal notice.) Read more
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Income Tax Update
1) 07.01.2022 : CBDT issued clarification on Form 3CA-3CD, 3CB-3CD. - The Central Board of Direct Taxes (“CBDT”) issued clarification on Form 3CA-3CD, 3CB-3CD to avoid errors in form filing and verification. In order to avoid errors in form filing and verification, kindly ensure that following points are considered: Read more
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2) 07.01.2022 : CBDT issued updated Common offline utilities for filing ITR 1, ITR-2, ITR-3 & ITR-4 - The Central Board Direct Taxes (“CBDT”) issued updated Common offline utilities for filing ITR 1, ITR-2, ITR-3 & ITR-4 for Assessment Year 2021-2022. Read more
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Hope the above updates is of use to you. Please share your feedback at [email protected]
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Send your Article
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If you wish to publish your article with OTU then please send it at [email protected]. We shall publish it with all due credit to you.
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Ask your query on GST in Discuss Query Forum and we shall try to solve them. You may also join the Forum as an Expert and help tax querist in their GST Query.
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