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Court Ordered to Unblock GST Account The Tripura High Court passed the judgment in favour of the taxpayer in a tussle between taxpayer and tax authority. The court ordered the tax authority to unblock the GST account of the petitioner/ on the official portal of GST. The petitioner is a sole proprietor and is in […]
You should know if the turnover of your business is not greater than INR 1.5 Crores The composition scheme of tax payment is meant for those small businesses whose turnover of taxable goods is not greater than INR 1.5 Crores. In such cases, the burden of GST must be borne by the seller. The rates […]
Tax revenue from Indirect Tax collected by the Government i.e. Goods and Services Tax (GST) is mushrooming every month after the corona situation is in control. In January 2020 also, it soared to INR 1,19,875 crore and in March 2021, it might cross the record of January (INR 1,19,875 crore) i.e. by at least INR […]
The Centre may convene a 44th GST council meeting within the forthcoming few weeks agenda being “Exemptions by Centre on Covid related medicines and equipment” as states are continuously and publicly approaching Centre for GST exemption in addition to demanding medicines and medical equipment that are necessary for the fight against Covid-19 pandemic. The medicines […]
The 43rd GST council meeting was held via video conferencing in New Delhi with other states finance ministers. The meeting was very important as the states’ ministers demanding GST rate cut and exemption of COVID-19 supplies via official letter. The union finance ministry has discussed on GST rate on COVID-19 related medical supplies along with […]