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A host of procedural amendments in the GST compliances is being reported by the government, along with the levy of interest for the bogus usage of input tax credit and the turnover limit for furnishing the yearly returns for 2021-22 fiscal. GST administration investigated the changes at its meeting in the former week. Through the […]
Quoting higher inflation, the Federation of Hotel and Restaurant Associations of India appealed to the GST council to rationalize the GST rates for the hospitality sector. FHRAI indeed urged the government to acknowledge the update of simple GST rules to enable the establishments to come beneath the hospitality segment to claim the ITC. The same […]
The government is considering easing GST rules for the re-export of leased planes, in what would offer a major boost to airline financials hit hard by the covid-induced turbulence. The ministry of civil aviation and the finance ministry are studying a plan to ensure that carriers do not face any hardship from customs authorities from […]
The senior council Revenue department of Andhra Pradesh head by Special Chief Secretary Rajat Bhargava, and Central and State GST officials talks about the methods to get optimized for good execution of GST acts in the state tax chief commissioner. The participants have an urge towards the coordination amid the center and the state tax […]
This phenomenon is a sensitive and burning issue in the GST since its inception and implementation in the year 2017 “Whether the recipient are required to reverse their Input Tax Credit (ITC) due to mismatch of 2A or due to non-submission of GSTR 1 or GSTR 3B by supplier” As per Section 16 (2)(c) of […]
The rate for the changes made per day in the present GST law is a whopping 125%. This means on an average 1.25 changes are made per day in the current indirect tax law of the land which was once referred as the Golden Bird of the East.
Indian newsprint manufacturers have asked to clarify GST rules regarding newsprint, including the definition of newsprint, the condition of ‘actual user’ and producer and its applicability in the post-GST regime, and whether third parties can sell or buy newsprints.
On Tuesday, Finance Minister Arun Jaitley assured that the Government would take necessary steps to ensure easy GST compliance. However, the Finance Minister denied even a minuscule possibility of implementing a single tax rate for GST.
The GST Council is thinking to revise the return filing procedure and simplify the rules further to make easy compliance and enhance government revenues.
