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Search results for: CGST

Retailers Trouble GST on Discounts

CBIC Circular Can Born Trouble to Retailers Regarding GST on Discounts

According to the specialists, the manufacturers and wholesalers who supply a discount to retailers to pass on to the customers, GST on which is creating confusion and pushing towards possible legal proceedings. The retailers say that GST on discount can put them into a difficult situation following the government’s recent decision. In June 2019, the […]

Revoked Article 370 Impact on Income Tax & GST

Revoked Article 370 Impact on Income Tax & GST in Jammu & Kashmir

In the Rajya Sabha, the Hon’ble Union Home Minister Sh. Amit Shah has passed a resolution to amend the Article 370 of the Indian constitution that offers ‘privileges of special autonomous status’ to the State of Jammu & Kashmir. By making amendments in Article 370, the special state right of Jammu & Kashmir has been […]

Increase Price Only If Applied GST Rate Cut

Increase Price Only if Applied GST Rate Cut: Government

Now, the change in the price of Goods and Services according to the business cycle is not an issue any more. The government has liberated the companies from the applicability of anti-profiteering provision in the Goods and Services Tax (GST) law, provided they have turned over the benefits of GST rate abbreviations to consumers. An […]

GSTR 9C Reconciliation Statement

Understanding GSTR 9C Part II Reconciliation of Gross Turnover

Valid For taxpayers whose annual aggregate turnover is above 5 Crores For FY 2020-21, 2019-20 & 2018-19 and for FY 2017-18 it was more than 2 Crores only. GSTR 9C is now a Self-Certified form From FY 2020-21 onwards before that it was an audit form for taxpayers. Now Taxpayer may self certify his/her annual […]

GST Changes in Budget 2019

Do You Know About All GST Changes Made in the Budget 2019?

In the budget 2019, several GST related rules and regulations have changed which have been presented in the Finance Bill. Finance Minister Nirmala Sitharaman presented the budget 2019 on July 5, 2019. The budget promulgates the tax payment facilities in addition to the changes made in composition schemes. Most of the things presented in the […]

MSME Exporters

Exporters Get Relaxed with Centre Decision of ITC Refund Payment for State GST

Providing a sigh of relief to exporters, the centre announced to pay the input tax credit (ITC) refunds of state taxes which will translate into lesser transaction time and costs. while the manual interface is being said under processing. As the industry claims, there is a huge difference between the amount claimed for ITC to […]

GST Rate on Mobile and Accessories

GST Rates Applicable to Mobile Phones and Accessories

There is no need for me to elaborate on the importance of mobile phones in our lives, everyone is well aware of how essential is a mobile phone for us. India has the second leading mobile market in the world. A variety of mobile phones, smartphones, and mobile accessories are sold by micro, small and […]

GST PMT 08 Filing Process

GST PMT 08 Online Filing Process with Due Date

What is GST PMT 08? Form GST PMT-08 is introduced under the new simplified GST Returns, this helps the taxpayers to make the payment of self-assessed tax like TDS or ITC. The form is used instead of GSTR 3B. A taxpayer has to use this form every month for declaring and paying the monthly tax […]

GST Benefit for New Business

Haryana Adds Over 2 Lakh New Registrations Under GST

More than 200,000 new registrations under Goods and Services Tax (GST) were registered in Haryana since its nationwide inception in July 2017. Haryana is faring forward and performing well under the GST regime since its commencement in 2017 and this can apparently be claimed again when the total count of newly added registration swelled to […]

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