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BJP government is eyeing on lowering down the GST rate on multimodal transport operators from 12% to 5%, as the Assembly elections are nearing. The government is likely to make recommendations for the same to the Goods and Services Tax (GST) Council. The state is stepping ahead for providing a bundle of concessions to the […]
GST Council has fixed the GST rate for goods and services but time to time the council members reduce the GST slab rate as per the demand of people and businesses. All the goods and services are taxed under seven slabs – 0%, 0.25%, 3%, 5%, 12%, 18% and 28% on the basis on Harmonized […]
Breaking all the records, Goods and Services Tax (GST) made a remarkable collection of Rs. 1 Trillion for two successive months, but the June month was somehow ill-fated as the collection of Indirect Tax fell considerably to Rs. 99,936 Crores. On a good note, the average quarterly collection of April-June managed to reach Rs. 1.04 […]
Some expectations are yet left to be fulfilled, some issues are yet left to be settled down! Some pending petitions, some harsh provisions and some new steps in the digital world are halting our journey towards full stabilization and uniformity under GST. GST system is the biggest reform in the taxation system which rolled out […]
Latest in the news, Government has made it clear in its pitch that, goods and services tax or GST will be imposed on the exchange of services from one state to another. If the scale of the services provided by the office in one state goes to the office in another state than the responsible […]
The National Anti-profiteering Authority (NAA) has made a pitch for the Standard Operating Procedure (SOP) for Central and State Tax Officials and presented it before the 35th GST council meeting on June 21. According to the proposed SOP, all commissioners of CGST and SGST will single out the top 20 suppliers including distributors, manufacturers and […]
Goods Transport Agency (GTA): The transportation services of goods by road under Notification No. 12/2017-Central Tax (Rate) dated 28.06.2017 (sr.no.18), are free from GST Services (Heading 9965): (a) By road except for the services of: (b) By internal waterways. Latest Update Thus, it is to be considered as the transportation of goods by road, unless […]
While addressing a joint session of Loksabha and Rajyasabha on June 20, the President of India, Mr Ram Nath Kovind said that my government will continue to take effective measures further in wake of simplification of the GST rule. Further, he said that the government is working towards to make Indirect tax simpler and effective. […]
In the upcoming 35th GST Council meeting, there is a possibility that electronic billing on a real-time basis will become mandatory for the large businessmen, wholesale businessmen are uncomfortable with the likelihood. Though it may become mandatory for the businesses whose turnover is 50-100 million or more, it will also be of great value to […]
