Section 49 Central Goods and Services Tax Act, 2017
Payment of tax, interest, penalty and other amounts (1) Every deposit made towards tax, interest, penalty, fee or any other amount by a person by internet banking or by using credit or debit cards or National Electronic Fund Transfer or Real Time Gross Settlement or by such other mode and subject to such conditions and […]
Section 48 Central Goods and Services Tax Act, 2017
Goods and services tax practitioners (1) The manner of approval of goods and services tax practitioners, their eligibility conditions, duties and obligations, manner of removal and other conditions relevant for their functioning shall be such as may be prescribed. (2) A registered person may authorise an approved goods and services tax practitioner to furnish the […]
Section 47 Central Goods and Services Tax Act, 2017
Levy of late fee (1) Any registered person who fails to furnish the details of outward or 1[***] supplies required under section 37 1[***] or returns required under section 39 or section 45 2[or section 52] by the due date shall pay a late fee of one hundred rupees for every day during which such failure continues subject to a maximum amount of five […]
Section 46 Central Goods and Services Tax Act, 2017
Notice to return defaulters Where a registered person fails to furnish a return under section 39 or section 44 or section 45, a notice shall be issued requiring him to furnish such return within fifteen days in such form and manner as may be prescribed. *Enforced w.e.f. 1st July, 2017. Practice area’s of B K Goyal & Co LLP Income Tax […]
Section 45 Central Goods and Services Tax Act, 2017
Final return Every registered person who is required to furnish a return under sub-section (1) of section 39 and whose registration has been cancelled shall furnish a final return within three months of the date of cancellation or date of order of cancellation, whichever is later, in such form and manner as may be prescribed. *Enforced w.e.f. 1st […]
Section 44 Central Goods and Services Tax Act, 2017
Annual return Every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person shall furnish an annual return which may include a self-certified reconciliation statement, reconciling the value of supplies declared in the return furnished for the financial year, with the […]
Section 43A Central Goods and Services Tax Act, 2017
Procedure for furnishing return and availing input tax credit. Enforced w.e.f. 22nd June, 2017. 1. Omitted (w.e.f. 1st October, 2022 vide Notification No. 18/2022 – CT dated 28.09.2022) by s. 107 of The Finance Act 2022 (No. 6 of 2022) for (1) Notwithstanding anything contained in sub-section (2) of section 16, section 37 or section 38, every registered person shall in […]
Section 43 Central Goods and Services Tax Act, 2017
Matching, reversal and reclaim of reduction in output tax liability. Enforced w.e.f. 22nd June, 2017. 1. Omitted (w.e.f. 1st October, 2022 vide Notification No. 18/2022 – CT dated 28.09.2022) by s. 107 of The Finance Act 2022 (No. 6 of 2022) for (1) The details of every credit note relating to outward supply furnished by a registered person (hereafter in this […]
Section 42 Central Goods and Services Tax Act, 2017
Matching, reversal and reclaim of input tax credit * Enforced w.e.f. 22nd June, 2017. 1. Omitted (w.e.f. 1st October, 2022 vide Notification No. 18/2022 – CT dated 28.09.2022) by s. 107 of The Finance Act 2022 (No. 6 of 2022) for (1) The details of every inward supply furnished by a registered person (hereafter in this section referred to as the “recipient”) […]
Section 41 Central Goods and Services Tax Act, 2017
Availment of input tax credit (1) Every registered person shall, subject to such conditions and restrictions as may be prescribed, be entitled to avail the credit of eligible input tax, as self-assessed, in his return and such amount shall be credited to his electronic credit ledger. (2) The credit of input tax availed by a […]