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  The 43rd GST Council has recommended the Self-Certification of GSTR-9C instead of Certification by Chartered Accountant ( CA  ).  The Finance Minister Nirmala Sitharaman Said that, Annual return filing will be simplified and the GST Council has recommended amending the CGST Act to allow for self-certification of reconciliation statements, instead of getting it certified by Chartered Accountants.  Amendments in section 35 and 44 of CGST Act made through Finance Act, 2021 to be notified.  This would ease the compliance requirement in furnishing reconciliation statement in FORM GSTR-9C, as taxpayers would be able to self-certify the reconciliation statement, instead of getting it certified by chartered accountants.  This change will apply for Annual Return for FY 2020-21. The filing of annual return in FORM GSTR-9 / 9A for FY 2020-21 to be optional for taxpayers having aggregate annual turnover upto Rs 2 Crore.  The reconciliation statement in FORM GSTR...

The Institute of Chartered Accountants of India (ICAI) has announced that the CA Intermediate and Final exams shall be started from 5th July 2021. The Institute will announce the schedule of the exam soon. The CA exams were postponed due to the current pandemic situation in India.  “In continuation to the Announcement dated 27′ April, 2021, it is hereby announced for general information that the Chartered Accountants Intermediate (IPC) {Under Old Scheme}, Intermediate {Under New Scheme}, Final {Under Old & New Scheme} and Post Qualification Course, viz., : Insurance and Risk Management (IRM) Technical Examination and International Taxation —Assessment Test (INTT — AT) of May 2021 Examinations shall now commence from Monday, 5th July, 2021 across the globe.  The detailed Schedule / Notifications for the said Examinations will be announced shortly,” the Institute stated in a press release. “The Candidates are advised to note the above and stay in touch with the website of th...

  Generation of GSTR-2B for April 2021 Rule-60(7) of CGST Rules-2017 prescribes for generation of auto-drafted statement containing  the details of input tax credit in FORM GSTR-2B for counter-party recipients. As per Rule-60(8)  of CGST Rules-2017, FORM GSTR-2B shall be made available to the recipients after the Due date  of filing GSTR-1/IFF by the suppliers. Notification No. 12/2021-CT and 13/2021-CT, both dated  1st May 2021 extend the Due date of GSTR-1 and IFF for April 2021, to 26th and 28th May 2021,  respectively. Consequently, GSTR-2B for April 2021 will be generated after the Due dates, on  29th May 2021. Taxpayers willing to file FORM GSTR-3B for April 2021 before GSTR-2B generation may do so  on self-assessment basis. Notification No. 13/2021-CT dated 01.05.2021 prescribes a cumulative  limit under Rule-36(4) for ITC claimed in periods April & May 2021 Click Below links for articles Everything about Invoice Furnishing Facilit...