Today’s Updates:

1. CBIC clarified that GST would not be levied on services provided by the Central or State Boards, including NBE, in the conduct of examinations for students including entrance exams. This move will benefit millions of households whose wards are at different levels in education.

2. In GST: Now HSN Code and Rate Mandatory in GSTR 1 from May 21.

Aggregate Turnover in the preceding Financial Year Number of Digits of HSN Code
Up to 5 crores Minimum 4 Digits
Exceeding 5 Crores Minimum 6 Digits

Tax Rate Reporting is mandatory in HSN Summary

[pt_view id=”c8bb8e9z6d”]

3. MCA Compliance: 30th June is the last date for filing form CFSS-2020: Form CFSS-2020 is a simple form in which details like CIN (Corporate Identification Number), Name of the Company and its Registered Office address, email of the Company and list of forms filed under the said scheme along with SRN are to be given. Immunity certificate will be issued by the designated Authority after the form is taken on record.

4. Clarification regarding applicability of GST on the activity of construction of road where considerations are received in deferred payment (annuity): Refer [Circular No. 150/06/2021 dated 17th June 2021]

Discussion related to the credit of the TDS