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Acknowledging the representations made in this regard, CBDT extends due date for filing Income Tax Returns and Audit Reports by 15 days till 15 October 2018.
However, in terms of payment of tax, there is no relief and any tax payment post the original due date of 30 September 2018 shall attract necessary interest u/s 234A of the Income Tax Act, 1961
The Commissioner has been granted power to extend the due date of TRAN-1 Form by a further period not exceeding 31 March, 2019 vide Notification No. 48/2018 in below cases, where:
CBIC has now extended the deadline for filing TRAN-1 Form till 31 January 2019.
An application was filed before AAR to determine whether applicant engaged in business of running restaurants is entitled to pay GST @ 18% (CGST @ 9% and SGST @ 9%) and claim input tax credit.
AAR indicates that right to avail input tax credit is not an absolute right and applicant is not entitled to pay GST at 18% (CGST+SGST) and claim ITC as services offered are classifiable under specific heading attracting GST at 5% without ITC.
In order to provide relief to taxpayers, CBIC have clarified certain situations, where small errors would not attract any proceedings against the person in charge of conveyance, except a minor fine of Rs. 1,000/-
The Central Government appoints October 01 2018 as the effective date from which provisions pertaining to TDS and TCS under GST shall come into efect.
CBIC vide Notification No. 49/2018 – Central Tax dated 13th September, 2018 have notified the format of GSTR-9C which provides for Reconciliation Statement of turnover declared in the Annual Financial Statement with the turnover declared in Annual returns (i.e GSTR 9).
Govt extends deadlines in following cases
Addressing the issues being faced by the taxpayers during filing of various returns under GST, the government has notified waiver of late fees or extension of time period to file necessary declarations under GST Law for specificed cases.
Taking note of the practical challenges being faced by the taxpayers, Government has issued several Circulars providing clarifications on various practical issues on several aspects such as submission of invoices for refund, filing of refund application filed by Canteen Stores Department (CSD), reversal of incorrect transitional credit through Form GSTR-3B etc.
Government issues Annual return in Form GSTR-9 along with detailed instructions for regular as well as composition taxpayers. Form GST ITC-04 has also been revised.
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