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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 […]
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 […]
As per the recently updated GST tax regime, the dealers would be obliged to pay 18% GST on the post-sale discount, if it is passed to them by their companies as a part of promotional activities to benefit the end consumers. If the company has necessarily asked the dealers to pass on this benefit to […]
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 […]
Enrol your name for a 4 day advanced certified training course on GST presented by Ministry of MSME (Micro, Small and Medium Enterprises). It is a clear opportunity to learn about GST at a much-advanced level. The training starts from 29 June 2019 in some of the prime cities like Ahmedabad, Jaipur, Agra, Cochin, Lucknow, […]
GSTR 1 is a return filing for all taxpayers that includes all the outward supplies given in the transactions of the business dealings. Here we will discuss Table 6A of the GSTR 1 form for regular taxpayers which is basically for the refund on exports. To claim the refunds, the exporter has to file Table […]
The new GST return system will come into action from October 2020 onwards. The old system got revised due to the need for a single, simple and concise return form which will take the place of multiple return forms of complex nature that are currently being filed by taxpayers. The new system will feature only […]
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 […]
