The CBIC in a notification said that late fee shall be waived from May 1 to June 30, 2022, for delay in filing GSTR-4 for 2021-22 fiscal. GSTR-4 is filed annually by the taxpayers registered under the composition scheme. GST composition scheme can be opted by any traders whose turnover is less than Rs 1.5 crore.
These moves would help prevent revenue leakage due to evasion of Goods and Services Tax (GST), which was launched on July 1, 2017. The Council decided to amend Rule 59(6) of the Central GST Rules with effect from January 1, 2022, to provide that a registered person shall not be allowed to furnish Form GSTR-1. The Central Board of Indirect Taxes and Customs (CBIC) had notified Aadhaar authentication for GST registration with effect from August 21, 2020.
The life-long validity of licenses/registrations is expected to promote the Ease of Doing Business in India. The amendments also provide that the licensee/registration holder can voluntarily come forward to surrender his license/registration if s/he wishes. These steps would prevent misuse of dormant licences/registrations.
The tax department has to dispose of refund claims within a total of 60 days without any liability to pay interest. CBIC’s instruction noted that officers should strive to settle claims as soon as possible to meet the statutory deadlines. The department said that it will try to dispose of claims preferably within 30 days after receiving the refund application.
Taxpayers with a turnover of over Rs 5 crore have been given 15 days extra time to file monthly summary return GSTR-3B and pay taxes without paying any late fees. The Central Board of Indirect Taxes and Customs (CBIC) on May 1 issued the notification, saying that these relaxations come into effect from April 18. Also, the due date for filing April sales return GSTR-1 has been extended till May 26, from the original due date of May 11.
Previously, CBIC had delayed the date for implementation of QR code to October 1, 2020, and further deferred QR code in B2C invoices to December 1, 2020. CBIC had then waived the amount of penalty payable by a registered person for non-compliance with provisions of dynamic QR code in the period till March 31, 2021. Lastly, now the date has been deferred till June 30, 2021.
E-invoicing will be extended to companies with turnover over Rs 50 crore from April 1, the Central Board of Indirect Taxes and Customs (CBIC) said in a notification. Under e-invoicing, taxpayers have to generate invoices on their internal systems (ERP/accounting/billing software) and then report them online to the Invoice Registration Portal (IRP). The IRP will validate the information provided in the invoices and return the digitally signed e-invoices with a unique 'Invoice Reference Number (IRN)' along with a QR Code to the taxpayer.
A case was reportedly registered against the accused on the allegations of conspiring to induce public servants for getting cleared a toys consignment which was stopped by customs officials using the personal influence of said Deputy Commissioner (now retired). It was further alleged that the said Deputy Commissioner had asked Rs 1 lakh from other accused for using his influence in Customs department to get cleared the stuck consignment of toys. CBI arrested the said Deputy Commissioner and recovered Rs 1 lakh from his car. The other two accused were also arrested for allegedly giving undue advantage to said Deputy Commissioner.