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Currently, 18% of GST is charged on long term lease transactions by the government, which has been strongly opposed by many companies. Some major companies have recently moved towards legal proceedings in court to seek permission for revoking or making a credit claim against GST on long-term land lease deals. Many tax experts, on this […]
GST ANX-1 and GST ANX-2 form have been added under the newer GST return filing system (GST 2.0). These forms will work as a supplement to the main returns forms, i.e., GST RET 1/RET-2/RET-3 under GST 2.0. These forms are apparently similar to the GSTR-1 and GSTR-2A forms that are used in the present GST […]
Vessels are very common yet essential in every kitchen. No family in the country is unaware of its usage, importance and noise. A similar echo is in Union Government appealing to reduce GST on vessels. Deputy Speaker Pollachi V. Jayaraman who attended the annual meeting of the federation on Sunday told media that the vessel […]
Ministry of Finance has started digging and estimating the revenue loss that may happen due to the GST rate cut which will be broached up in the upcoming 37th GST council meet, scheduled to be held on 20th September. The GST rate on various products like automobile will be lowered down to bring up the […]
The government has recently extended the deadline of annual return filing under the Goods and Service Tax (GST). This is the fourth occasion when the government has made the extension decision for the due date of return filing under GST. On this matter, various GST experts have said that even the new date, i.e., November […]
The due date for filing of Annual return (GSTR-9) and reconciliation statement/ audit report (GSTR-9C) has extended by the government till November 30, 2019. The taxpayers should utilize this period of three months for addressing their concerns and ensure the filing of returns on time. Since the original deadline of December 2018, the government has […]
In the scenario when the industries are pressing pedals for dwindling down the GST rates to get out of the stagnant phase, rail wagon makers are urging for the contrast i.e. increment in GST rates. According to companies, Inputs refer to GST which is levied at the rate of 5% and 18%, as a result […]
In a hurry to file the GST returns, the taxpayers have now started to line up at the tax offices, GST commissionerate helplines, and at various tax professionals including chartered accountants. And to help the taxpayers with their tax returns, the GST commissionerate is also organizing various Seva Kendra. As per the GST commissioner, around […]
Only 20% of Visakhapatnam Traders have filed central goods and services tax (CGST) returns till the date and 80% of them need to urgently file the returns before the due date of 31st August 2019. The due dates for filing GST returns have been extended many times due to the complexities and cumbersome process involved […]
