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Central Board of Indirect Taxes and Customs News

Goods and Services Tax

24 Jun 2022

Changes in monthly GST payment form GSTR-3B? GST Council to decide next week

The move would help curb the menace of fake billing, whereby sellers would show higher sales in GSTR-1 to enable purchasers to claim input tax credit (ITC), but report suppressed sales in GSTR-3B to lower GST liability.

26 May 2022

Centre waives late fee till June for delayed filing of GST returns

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.

Goods and Services Tax

18 May 2022

GST filing deadline shifted to May – Companies, taxpayers read THESE points

GST Filing deadline has been extended due to technical glitch in the GST system, for which Infosys was awarded a Rs 1,380 crore.

Goods and Services Tax

01 Apr 2022

GST rules changing from today--Lakhs of companies in India to be impacted

New GST rules from today. Rules related to e-invoicing for B2B transactions. New GST rule is going to impact lakhs of companies in India.

Goods and Services Tax

29 Mar 2022

GST rules changing from April 1, to impact lakhs of companies in India

Companies with turnover of more than Rs 20 crore will have to generate B2B e-invoices.

Central Board of Indirect Taxes and Customs

19 Mar 2022

File GST returns by Sunday, or else…: CBIC reminds taxpayers about deadline

CBIC has urged non-resident GST taxpayers to file their monthly GSTR-5 returns by the due date. The remainder was for Online Information and Database Access or Retrieval (OIDAR) service suppliers.

24 Jul 2021

CBIC abolishes licence renewal requirement for customs brokers

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.

02 May 2021

Govt waives late fee for delayed filing of March, April GSTR-3B, tax payment

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.

02 Apr 2021

CBIC defers printing of QR code on B2C invoices till July 1

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.

09 Mar 2021

Now e-invoice will be compulsory for business with over Rs 50 crore turnover

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.

30 Sep 2020

GST annual return filing deadline for FY19 extended till October 31

GST annual return is to be filed for 2018-19 fiscal. GSTR-9 is an annual return to be filed by taxpayers registered under GST regime. It consists of details regarding the outward and inward supplies.

Central Board of Indirect Taxes and Customs

23 Jun 2020

CBIC enables end to end paperless exports under turant customs

Turant Customs, which has as its main component Faceless Assessment, would be implemented in phases across the entire country by 1st January 2021.

Central Board of Indirect Taxes and Customs

15 Jun 2020

CBIC launches e-Office application in CGST, customs offices across India

The e-Office application is developed by the NIC and is supported by the Department of Administrative Reforms and Public Grievances (DARPG).

11 Jun 2020

Salary paid to company directors not to attract GST, clarifies CBIC

However, the part of directors' remuneration which is declared separately other than 'salaries' will be taxable.

Goods and Services Tax

15 Nov 2019

No GST on salaries paid to chief executive officers or employees: CBIC

The Central Board of Indirect Taxes and Customs (CBIC) clarified on Friday (Novmber 15) clarifies that salaries are not subject to Goods and Services Tax (GST). It further added that no GST has been demanded on salaries paid to chief executive officers or employees.

Compulsory retirement

26 Aug 2019

22 senior taxation officers sacked over corruption and other charges

In June this year, the CBIC had compulsorily retired 27 high ranking IRS officers including 12 officers from CBDT.

Central Board of Indirect Taxes and Customs

22 Jul 2019

No tax invoice required for goods taken out of India for exhibitions: CBIC

The clarification comes amidst problems faced by exporters due to the the lack of clarity on the procedure to be followed under GST at the time of taking these goods out of India and at the time of their subsequent sale or return to India.

Central Board of Indirect Taxes and Customs

20 Jun 2019

All genuine exporters will get their IGST refunds in timely manner: CBIC

CBIC has recently instructed its Customs and GST formations to verify the correct availment of input tax credit (ITC) by few exporters who are perceived as “risky” on the basis of pre-defined risk parameters.

Compulsory retirement

18 Jun 2019

Government retires 15 officials of Central Board of Indirect Taxes and Customs

The compulsory retirement of the officials has been ordered under Rule 56 (j) of the General Financial Rules of Central Government Services.

22 Mar 2019

CBIC notifies exchange rate of foreign currency for imported and export goods

These new rates will be effective from March 21.

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