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The GSTN added a 6% tax rate in the item details section of all the tables of the form GSTR 1, excluding HSN table 12 on the GST portal. A new tax rate of 6% IGST or 3% CGST including 3% SGST has been made on specific goods vide Notification No. 02/2022 on 31st March […]
GST collection crosses Rs 1.40 lakh crore mark 4th time since the start of GST; 3rd month at a stretch since March 2022. Rs 1,40,885 cr is the total GST revenue collection in the month of May 2022 of which CGST is Rs 25,036 cr, SGST is ₹32,001 crore, IGST is ₹73,345 crore (along with […]
The blocking of input tax credit) under GST would be affecting businesses all over the state. As the city is the financial capital of the state, the majority of businessmen of the city would get impacted by it. In front of the state, GST commissioner Lokesh Jatav several CAs, and tax consultants asked to resolve […]
GST will turn five since its execution in India. The first half-decade of this platform is wrapped in the ups and downs with numerous hurdles. At the current time, India has seen revisions in the effective tax rate as well as rectified supply chain efficiencies. Tax compliance is seen on a technology-based monitoring system via […]
Did you not confident about the complicated laws? Finance concerns and related things are just hard to record at the fingertips as there are so many external things that are engaged in it. This article is related to the subject of GST. You would simply compute the GST in our country. What Do You Mean […]
Some of the passive incomes are said to be the income from Youtube, blogging, money from sharing video apps, and others. The same is essential to note the tax treatment from both the income tax and the GST point of view in India. The taxability of GST on YouTube and blogging income-earning shall be discussed […]
The Central Board of Indirect Taxes and Customs (CBIC) provided the amended rules for the National Risk Management Committee (“NRMC”)/Local Risk Management Committee (“LRMC”) for effective implementation of the Risk Management System in Customs and GST. As per the formation of the Directorate General of Analytics and Risk Management (DGARM), the Directorate sees forwards the […]
The Telangana Authority of Advance Ruling (AAR) has the members B. Raghu Kiran and S.V. Kasi Visweswara Rao have headed that IGST paid on imports is qualified to be claimed as an ITC towards intra-state and inter-state sales. The applicant, M/s. Euroflex Transmissions (India) Private Limited wants to furnish the imported goods from the port […]
The Bombay High Court permitting the assessee to correct Form TRAN-1, rendered the department to acknowledge the problem of whether Form TRAN-1 and other forms that will be furnished or corrected by the applicant would be entertained as per the provisions of section 140 of the Central Goods and Services Tax Act, 2017 and Rule […]
