GST Info Tamil

With just a few days left, taxpayers should take advantage of the extended deadline for the GST Amnesty scheme, designed to provide relief to those who have acquired assessment orders under Section 62 of the CGST Act. The original form submission deadline of June 30, 2023, was pushed to August 31, 2023,   as stated in the recent notification. The Central Board of Indirect Taxes and Customs (CBIC) announced this extension for the GST Amnesty scheme covering GSTR 4, GSTR-9, and GSTR-10 non-filers. What is the GST Amnesty scheme? Everyone liable to pay or file their GST returns must do so by complying with all rules and deadlines. In the case of GST, one must file it in a sequential manner. If the deadline for the same passes, then a taxpayer may have to pay penalties for missing their filings. To provide relief from such consequences, the government gives the benefit of the GST Amnesty scheme, which allows taxpayers to file their pending GST returns without hefty penalties. Why shoul...

  Differences Between The Debit Note and Credit Note in GST   What is Debit note under GST ? ‘Debit note’ as defined under section 2(38) of the Central Goods and Services Tax Act, 2017 means a document issued by a registered person under section 34(3). In simple terms, a ‘debit note’ comes into the picture when the taxable value/ tax charged in the tax invoice is less as compared to the actual taxable value/ tax payable in respect of the supply. ‘Debit note’ is also popularly known as supplementary invoice as the issuance of a debit note creates additional tax liability. Hence, the treatment of debit note is the same as that of any tax invoice. Accordingly, a ‘debit note’ issued by the supplier under section 34(3) is one of the documents on the basis of which input tax credit is available to the buyer/ recipient. Issuance of Debit Note: The person who supplies the goods shall issue a debit note in the following cases: When the value of invoice is less than ...