Extension of closing date of late fee amnesty scheme and time limit for filing of application for revocation of cancellation of registration under GST Act (GST notification 33/2021,34/2021 dated 29 Aug 2021)

The Government, vide Notification No. 19/2021- Central Tax, dated 01.06.2021, had provided relief to the taxpayers by reducing / waiving late fee for non-furnishing FORM GSTR-3B for the tax periods from July, 2017 to April, 2021, if the returns for these tax periods are furnished between 01.06.2021 to 31.08.2021.  The last date to avail benefit of the late fee amnesty scheme, has now been extended from existing 31.08.2021 to 30.11.2021. [Refer Notification No. 33/2021- Central Tax, dated 29.08.2021].

Based on the multiple representations received, Government has also extended the timelines for filing of application for revocation of cancellation of registration to 30.09.2021, where the due date of filing of application for revocation of cancellation of registration falls between 01.03.2020 to 31.08.2021. The extension would be applicable only in those cases where registrations have been cancelled under clause (b) or clause (c) of sub-section (2) of section 29 of the CGST Act. [Refer Notification No. 34/2021- Central Tax, dated 29.08.2021].

The filing of FORM GSTR-3B and FORM GSTR-1IFF by companies using electronic verification code (EVC), instead of Digital Signature certificate (DSC) has already been enabled for the period from 27.04.2021 to 31.08.2021. This has been further extended to 31st October, 2021. [Refer Notification No. 32/2021- Central Tax, dated 29.08.2021].

The extension of the closing date of late fee amnesty scheme and extension of time limit for filing of application for revocation of cancellation of registration will benefit a large number of taxpayers, specially small taxpayers, who could not file their returns in time due to various reasons, mainly because of difficulties caused by COVID-19 pandemic, and whose registrations were cancelled due to the same. Taxpayers are requested to avail the benefit of these extensions at the earliest to avoid last minute rush.

Functionality to check and update bank account details (GST Portal update 29 July 2021)

How to add bank account in GST registration details.

A functionality to check status of bank account details update for the taxpayers who have taken new registration at GST Portal but have not yet furnished the same, has been introduced, in view of Rule 10A of the CGST Rules 2017. Such taxpayers are required to update their Bank Account Details within 45 days of the first login henceforth.

The taxpayers may login and update Bank Account details through Non-core amendment in the manner as specified in the below table. In case the taxpayers who had not updated bank account after registration and are also failed to update within 45 days of their first login henceforth, the system will prompt and force them to comply with the requirements.

  • Login to the taxpayer portal
  • Go to ‘Services’
  • Click on ‘Registration’
  • Click on the tab ‘Amendment of Registration Non-Core Fields’
  • Select tab ‘Bank Accounts’
  • Add details of Bank Account (Account No., IFSC, Address, Bank Account type)
  • Click on the verification tab, select authorized signatory, enter a place
  • Sign application using DSC, E-sign or EVC
  • Note:
    After completion of Bank Account update, a success message will appear on the screen, and the acknowledgment will be sent at the registered email and mobile phone.

Thanking You,

CGST Zones and Directorate General of GST Intelligence booked about 8000 cases involving fake ITC of over Rs. 35000 crore in FY 2020-21

Ministry of Finance Press release dated 13th July 2021

Misuse of the beneficial provision of Input Tax Credit (ITC) under GST regime is the most common modus of evasion under the GST Law. The field formations of the Central Board of Indirect taxes and Customs (CBIC) have beenregularly detecting such cases from very beginning of the GST regime. During the financial year 2020-21 the CGST zones and the Directorate General of GST Intelligence (DGGI)have booked about 8000 cases involving fake ITC of over Rs. 35000 croreDuring the financial year 426 persons including 14 professionals such as CAs, Lawyers and masterminds, beneficiaries, directors etc were arrested. Considering the high proportion of fake ITC availment and utilisation a nation-wide special drive against the fake GST invoice was launched w.e.f. 9th November 2020 which is still continuing.

However due to the serious Covid pandemic spread during the past two three months and related safety concerns, the drive slowed down but with gradual lifting of lockdown and improved Covid-19 situation in different parts of the country, the department has resumed the drive in  coordinated action at national level. The crack-down byDirectorate General of GST Intelligence and all the Central GST formations against the fraudsters responsible for causing loss to the government exchequerhas gained momentum during this month. In this nationwide drive against unscrupulous entities, Directorate General of GST Intelligence and CGST Zones under CBIC have during the current financial year detected more than 500 cases involving 1200 entities and arresting 24 persons. The number of arrests made by officers of CBIC is one of the highest in recent times.

CBIC officers are using latest IT tools, digital evidence and also collecting information from other government departments to catch the fraudsters. Along with legislative and procedural changes in the law, the nationwide drive has contributed to better compliance and revenue collection. During the drive, cases of fake ITC availment against some well-known companies were also booked.

Some of the notable cases booked recently include a case by DGGI Nagpur Zonal Unit against three firms involved in passing on fraudulent Input Tax Credit (ITC) to the tune of Rs. 214 crore and claiming refund of accumulated ITC in fraudulent manner. These firms had submitted fake rental agreements and fake electricity bills and they existed only on paper without any business activities having taken place from their registered place of business. These firms were showing exports of a common product i.e. smoking mixtures for pipes and cigarettes attracting GST @ 28 % and Compensation Cess @ 290 %.

In another instance, DGGI Chandigarh Zonal Unit booked and apprehended a mastermind, who was operating fake firms for passing on illegal ITC to the tune of 115 crore. On information that fictitious/bogus firms were used to pass inadmissible ITC to various iron and steel units based in Himachal Pradesh, Punjab and Haryana, searches were conducted at multiple premises in Himachal Pradesh (Baddi) and Punjab where incriminating evidences in the form of laptop containing incriminating e-mails, pen drives, mobile phones evidencing fraudulent transactions were resumed. Similarly a case of fraudulent ITC was also booked by DGGI SuratZonal Unit in which non – existent firms were found to be engaged in supply of invoices and passing on illegal ITC to the tune of Rs. 300 crore.

CGST Jaipur Zone, detected a case involving multiple fake firms for availment/passing on fraudulent ITC of Rs. more than 100 crore in which three persons were arrested. In another case of ITC fraud, CGST Delhi Zone busted a network of 23 entities involved in creation of fake invoices worth Rs. 551 crore and passing on fraudulent ITC worth Rs. 91 crore. These fake entities were issuing invoices of bituminous mixtures, base metals, furniture and doors. Three key persons involved in this fake invoice racket have been arrested. In another instance, CGST Ahmedabad Zone booked a case of ITC fraud of Rs. 38 crore against thirteen fake entities which were created to pass on fraudulent ITC by way of issuing bogus invoices of iron and steel.

The enforcement drive against the fake invoice fraudsters and other GST evaders is likely to intensify with an objective to catch and book unscrupulous elements engaged in illegal activities to defraud the government exchequer.

Apart from cases of fake ITC the DGGI and other CGST formations have also detected GST evasion involving misclassification, undervaluation and clandestine supplies of goods and services.

Shri Nitin Gadkari says GST will help in achieving the vision of five trillion dollar Indian economy by 2025, calls for performance audit alongwith financial audit

Minister for Road Transport & Highways and MSME Shri Nitin Gadkari has said that GST will help achieve the vision of five trillion dollar Indian economy by 2025. Addressing a webinar on the “GST Day” on the theme “THE JOURNEY OF GST AND WAY FORWARD – AATMANIRBHAR BHARAT” organised by the Institute of Cost Accountants of India he said said GST is founded on the notion of “One Nation, One Market, One Tax” which has helped and will be helping the trade and industry a lot despite the prevailing pandemic situation. Shri Gadkari said Goods and Services Tax was implemented from 1st July 2017 and now it has completed four years of its implementation, during these four years a remarkable change is seen in the way the business is being carried out.

The minister said digitalisation and information technology have an important role to play. He said for transparent and time bound decision making process Performance Audit alongwith Financial Audit is very important. Talking about the problems faced by MSMEs he said delayed payments are the main cause of concern which has to be resolved.

The minister said though GST has completed four years there is still room for improvement . Shri Gadkari said cooperation, coordination, communication and rectification is needed from all stakeholders.

Shri Gadkari complimented The Institute of Cost Accountants of India for conducting regular webinars, seminars, various courses for different stake-holders throughout the Country to unlearn and relearn new subjects which are need of the hour to survive in the New Normal.

Full event link https://youtu.be/83c7SBwegX0

Ministry of Road Transport & Highways Press Release dated 01 July 2021

On the eve of completion of 4 years of the GST, CBIC to honour the tax payers contributing to the GST success story

On the eve of completion of 4 years of the GST, CBIC to honour the tax payers contributing to the GST success story

CBIC to issue certificates of appreciation to honour contributions of tax payers

Government reaffirms its commitment to continuous improvement in taxpayer services

GST is a historic tax reform introduced on the 1st of July 2017. Over the years there has been a reduction in the tax rates, simplification of procedures and a growing economy has also led to an exponential increase in the tax base. GST revenues have steadily grown and have been above the 1 lakh crore mark for eight consecutive months in a row. On the eve of completion of 4 years of the GST, it has been decided to honour the tax payers who have been a part of the GST success story.

A data analytics exercise was hence undertaken by the Central Board of Indirect Taxes and Customs to identify taxpayers who have made substantial contribution in payment of GST in cash along with timely filing of returns. As a result, 54,439 (Fifty-Four Thousand Four Hundred and Thirty-Nine) taxpayers have been identified. More than 88% of these taxpayers are from Micro (36%), Small (41%) and Medium enterprises (11%) representing a wide spectrum sectors involved in the supply of goods & services spread acrossall States/UTs, as given below:


Count of GSTIN





Tamil Nadu




West Bengal






Uttar Pradesh






Madhya Pradesh












Andhra Pradesh








Dadra and Nagar Haveli










Himachal Pradesh






Jammu and Kashmir




Arunachal Pradesh




Andaman and Nicobar Islands




Lakshadweep Islands






While it is widely acknowledged that the Nation meets its obligations towards spending in various social sectors and welfare schemes and infrastructure development out of revenues mobilized through tax payments by millions of honest tax payers, this step marks the first effort by the Government to directly communicate to the GST taxpayers for their contributionAs an acknowledgment, the Central Board of Indirect Taxes and Customs will be issuing certificates of appreciation to these taxpayers. Goods and Services Tax Network (GSTN) will be sending out the certificates of appreciation to individual tax payers by e-mail. The taxpayers will be able to print and display these certificates.

The Government is committed to continuous improvement of taxpayer services and seeks the cooperation of all taxpayers for their voluntary compliance and contributing to national development for a strong and resilient India.


Ministry of Finance Press release dated 30 June 2021


44th GST Council Meeting highlights – 12.06.2021

The tax rate on ventilators, medical grade oxygen, COVID-19 testing kits, oxygen concentrators and BiPAP machine have been brought down to 5 percent from 12 percent at present.

The GST on anti-coagulants like Heparin, high flow nasal canula (HFNC) device and pulse oximeters has been reduced to 5 percent from 12 percent at present.

The GST on hand sanitisers and temperature check equipment has been reduced to five percent from 18 percent at present.

5% GST on vaccines will stay.

“GST rates have been decided for 4 categories of products- medicines, oxygen, oxygen-generation equipment, testing kits and other machines and other COVID19 related relief material.

GST Council approved all recommendations of GoM on rate rationalisation.GST on ambulances reduced to 12 percent.

The Centre will buy the 75 per cent vaccine as announced and will pay its GST too. But 70 per cent of income from GST will be shared with States.

Weekly YouTube video compilation on Income tax, GST, Financial awareness & Entreprenurship (06th June 2021 to 12th June 2021

Dear Sir,

Please find below Weekly YouTube video compilation on Income tax, GST, Financial awareness & Entreprenurship (06th June 2021 to 12th June 2021:

Date 12-06-2021 GST Topic New functionalities on GST Portal -11 June 2021 https://www.youtube.com/watch?v=I6rTi0Zsc5c
Minute 5.18

Date 12-06-2021 GST Topic GST on E-Commerce & Electronic Commerce Operator https://www.youtube.com/watch?v=1Ttjb0ltyX0
Minute 4.42

Date 11-06-2021 Entreprenurship Topic E-Commerce Business Models II Self-run model II E-platform/marketplace model II Hybrid model https://www.youtube.com/watch?v=kN3x2eYk4-o
Minute 11.57

Date 10-06-2021 Financial awareness Topic What are Bank Loan Options for Women entrepreneur https://www.youtube.com/watch?v=LF-wiSUfEdU
Minute 5.35

Date 09-06-2021 Income Tax Topic Tax benefits available to Producer Companies II Section 80PA II Tax Deduction for Producer Companies https://www.youtube.com/watch?v=zssPO4OVtO0&t=83s Minute 2.29

Date 09-06-2021 Financial awareness Topic Common borrowing Mistakes that can impact your finance https://www.youtube.com/watch?v=jS52mchI5L8 Minute 5.16

Date 08-06-2021 Financial awareness Topic How to prepare financially for unexpected events? https://www.youtube.com/watch?v=K_PoySSEV_w&t=110s Minute 13.26

Date 07-06-2021 Income Tax Topic Tax implications if your medical treatment/covid treatment is crowdfunded https://www.youtube.com/watch?v=XiBT1yV7scY&t=143s Minute 3.46

Date 06-06-2021 Entreprenurship Topic How to Start Grocery Store business? https://www.youtube.com/watch?v=0we73JX6Weo&t=829s
Minute 27.1

Date 05-06-2021 Income Tax Topic New Taxpayer friendly e-filing Portal (New Features) -MOF Press Release dated 05 June 2021 https://www.youtube.com/watch?v=gN93Fni22zQ&t=124s
Minute 5.06

Bipul Kumar

New functionalities on GST Portal-11 June 2021

Dear Sir,

Please find below *YouTube video Link on *New functionalities on GST Portal-11 June 2021*

1.Ledgers: Negative liability statement made available to composition taxpayers

2. Returns: Download of Form GSTR-4A in excel and auto-population of its details in Form GSTR-4 of the composition taxpayer

3. Front: Office Inclusion of common names in the HSN Directory and its download in excel format by the taxpayers

Bipul Kumar

Monthly compilation of Video on Company Law, Succession planning, Income Tax & GST

Dear Sir,

Please find below YouTube link of Monthly compilation of Video on Company Law, Succession planning, Income Tax & GST for your easy reference:

👉 Company Law

Setting of Branch offices of Foreign Company in India

Nidhi Company-each & everything

Producer Company-each & everything https://youtu.be/MP-t3sg_qWg

CSR Funding: Ngo registration for getting CSR Funding https://youtu.be/j-OG40NJl9Q

Managerial Remuneration

Presentation of Financial Statements w.e.f. 01st April 2021

Limited Liability Partnership & its suitability

👉 Succession planning

Each & everything about Will https://youtu.be/W80MGdy0kio

Partition of Property https://youtu.be/IaQ03qcRWDg

👉 Income Tax

Fair Market Value calculation for Section 50B (Slump Sale) of Income Tax Act, 1961Updated by Notification No. 68/2021 -24th May, 2021

Extension of ITRs, Tax Audit Report, TP Audit Report, Belated/Revised Return for FY 2020-21 https://youtu.be/scXDMjZ9v2k

Tax benefits for Startup

New Rules of for registration u/s 12AB & 80G w.e.f. 01-04-2021 https://youtu.be/JfKVfZ9mk6Q


Accounts & records maintained under GST

GST Amnesty Scheme (July 2017 to April 2021-GSTR 3B Return)

Late fees Rationalisation for April 2021 onwards period

Simplification of Annual Return for FY 2020-21 https://youtu.be/L21Over9X3w

Covid related measures for taxpayers https://youtu.be/Mb7Ae2LMm1E

Bipul Kumar

Accounts and records maintained under GST(Updated by Finance Act, 2021)जी इस टी टैक्सपेयर को एकाउंट्स एंड रिकार्ड्स रखने की अनिवार्यता

Dear Sir,

Please find below YouTube video link on Accounts and records maintained under GST(Updated by Finance Act, 2021)जी इस टी टैक्सपेयर को एकाउंट्स एंड रिकार्ड्स रखने की अनिवार्यता

Topic cover

List of documents to be maintained by every registered person

Additional records

Books of Accounts-For Agent, registered manufacturer, Supplier of service, Works contract service, Transporter, owner/ operator of a warehouse or godowns

Place of maintenance of the Accounts and records under GST

Period of retention of accounts

Audit of Books of Accounts under GST Provision (Amendment by Finance Act, 2021)

Consequences for not maintaining the Books of accounts and records


Bipul Kumar