Tomorrow is the last date for submission of ‘Form ITC-04’ for the Goods and Services Tax (GST) returns for the quarter July to September 2021.
CBIC Alert: The Central Board of Indirect Taxes and Customs has asked to submit ‘Form ITC-04’ by tomorrow i.e. 25 October for the Goods and Services Tax (GST) returns for the quarter July to September 2021. CBIC has made available this information through tweet.
CBIC in its tweet has written, “GST Tax Payers Attention! The due date for filing Form ITC-04 during the quarter in respect of inputs or capital goods sent to the job worker or received from the job worker is October 25, 2021.”
The deadline for filing returns for GST taxpayers who are covered under the QRMP scheme and have a principal place of business in the state group was today. In a second tweet, CBIC wrote, “For GST taxpayers who are covered under QRMP scheme and have principal place of business in the state group, the due date for filing quarterly GSTR-3B return for July to September is 24 It’s October, 2021.”
Aadhaar verification required to get refund
The government has made Aadhaar card verification mandatory for taxpayers to claim GST refund. Now the refund will be in the same account, which will be linked to the same PAN number from which GST registration has been done. Businesses who default in paying summary return and monthly GST will not be able to file GSTR-1. The Central Board of Indirect Taxes and Customs has taken this step as part of various measures to prevent tax evasion.
Clothes and shoes can be expensive
The prices of clothes and shoes may increase by the beginning of next year. The GST Council, while changing the inverted duty structure of the clothing and footwear industry, has said that the new duty structure will be implemented from January 1, 2022.
The textile and shoe industry had been demanding a change in the structure for a long time. The industry said that there is 12 per cent GST on raw materials for making shoes, while the GST on finished products is only 5 per cent. The duty paid on raw material should be refunded to make up for this loss.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at informalnewz@gmail.com
