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It is a matter of importance as for all those taxpayers who haven’t claimed any of the GST credit up till now for the financial year 2018-19. It is advised for the taxpayers to claim the GST credit in the September GSTR 3B form. The reason behind this suggestion is that after this GSTR 3B […]
Karnatak SGST department recently collected increased 14.3 per cent of GST revenues for the 5 months i.e. (April- August ) for the FY 2019-20 (FY 20). While the Karnataka state has already gained a good amount of GST collections of 33,618 crores in comparison to the target of 76,046 crores for the financial year. Also, […]
The goods and services tax council may try to cut GST rates applicable currently on the hotel industry for the better and therefore all those states which are protesting against the rate cut on the automobile and biscuit sector may also get benefits. The GST council may also make a decision on central and state […]
It seems that the Insolvency and Bankruptcy Code (IBC) and GST are having some troubles with the norms as well as software working procedure for the resolutions. Therefore, it seems that they may visit the court for the further resolution of the matter. The major issues that conflict is that the GST software does not […]
The government may soon scrap the annual return filing and audit filing of the small business firms and taxpayers with turnover up to 5 crores. It is being speculated that the GST council meeting on 20th September may take some important decisions. Under the speculation, it is said that the meeting would discard the annual […]
Recently the commerce ministry has proposed that the industries offering most of the jobs in the market will be having tax rebates to increase the employment opportunities in the country. Also, the ministry will be giving tax rebates on various products to boost the exports of the country. Some of the products like gems, jewellery […]
MGT 09 is a report which has to be furnished along with the director’s report in the Companies Act 2013. The MGT 09 is prepared by the company when the director’s report gets approved in the board meeting. As per the MCA notification dated 28.08.2020, Form MGT-9 has been completely omitted, thus companies are not […]
The last date for filing ITC-03 is around the corner and it is sprouting out an immediate need for clarification on many issues. Beyond the shadow of a doubt, the real estate sector is one of the crucial cornerstones of our National economy with its contribution of around 6-8% in the Gross Domestic Product (GDP) […]
The government has recently extended the return filing due dates for the GSTR 1, GSTR 3B GSTR 6 and GSTR 7 for few states of India due to flood and other reasons. The taxpayers and businesses having a turnover of more than 1.5 crores have taken into consideration. The extended due date for filing these […]