AKGVG GST BULLETIN

GST revenue for the month of august 2020 released.

Ministry of Finance declared the gross GST Revenue details on 1st September, 2020 for the month of August, 2020.

Interest on delayed payment of GST will be charged on net tax liability.

CBIC has specified that interest on delayed payment of GST will be charged on net tax liability with effect from September 1, 2020.

Authentication of Aadhaar for GST registration.

The Government in its quest for enhancing ease of doing business has introduced Aadhaar authentication w.e.f. 21st August, 2020 for swifter processing of GST registrations and keeping fake & fraudulent entities away from GST.

Extension of time limit for completion of proceedings, passing of any order, issuance of notice, etc.

CBIC has further extended the time limit for completion of proceedings, passing of any order, issuance of notice, filing of appeal, reply, etc. which falls during the period from 20-03-2020 to 29-11-2020 till 30th November, 2020 vide notification no. 65/2020 – Central Tax dated 1st September, 2020.

Auto-drafted ITC statement GSTR-2B enabled.

GSTN launches auto-drafted ITC statement GSTR-2B for taxpayers. It is a static statement and will be made available for each month, on the 12th day of the succeeding month.