Powerd By SAG INFOTECH
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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 […]
Recently, the central government has announced that it is looking for the options to pre-empt GST dodging by taxpayers based on their risk profile. The motive behind this initiative from the government is to prevent the tax evasion under Goods and Services Tax (GST). The assessee, whose profile would appear as “risky” under this scheme […]
In a recent ruling, The Tamil Nadu Authority for Advance Ruling (TNAAR) has clarified that if the monthly maintenance amount gathered by the registered housing society or resident welfare committee surpasses INR 7500 per month, then a flat 18% GST rate will be applicable on the entire amount, not the different amount. The ruling decision […]
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 […]
Different GST rates for different goods and services has been fixed by the GST council under seven slabs – 0%, 0.25%, 3%, 5%, 12%, 18% and 28%, which are mutable on government GST notifications on the demands of the economy. All goods and services are linked to Harmonized System Nomenclature (HSN) code on the basis […]
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 […]
