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India is going through Lockdown part 2, and most of the people are working from their homes. The finance ministry a few days ago denoted some points to Infosys for improvement in the GST Network enhancement project. If you don’t know, The GST Network portal (GSTN) Read out the complete guide of official GST return […]
‘Circular No. 22/2020-Customs’ has been released by Central Board of Indirect Taxes & Customs (CBIC) on 21st April 2020 Yesterday. The circular has been released to inform Exporters about the decision taken by authorities to extend the facility of SB005 error correction in the Customs EDI system for Shipping Bills with a date up to […]
The government sources informed the media that the exemption of GST (Goods and Services Tax) on personal protection equipment like medical test kits, masks, sanitizers, and ventilators will neither benefit the manufacturers nor the customers. Presently, the GST is charged on masks at the rate of 5%, on ventilators and medical testing kits at the […]
The experts have said that providing an exemption of Goods and Services Tax (GST) on products and services being used to fight coronavirus like Medical Test Kits, Personal Protective Equipment (PPE), Masks, etc. might turn out to be counterproductive. GST on PPE is charged at the rate of 5% if the cost of the product […]
The government is planning to allot a bit of GST relief to SEZ (Special Economic Zones) for their supplies to Domestic Tariff Area (DTA), declared by a Finance Ministry Official. Above that, the GST department is planning to give some concessions to MSMEs that qualify for the composition dealer category so that they are taxed […]
As directed by the Finance Ministry, the employer is liable to deduct the TDS from the salaries of their employees according to the new lower tax regime if opted by the employee. A new tax regime with lower rates was rolled out by the government on a voluntary basis to facilitate the taxpayers. Though the […]
FICCI writes a letter to FM Nirmala Sitharaman highlighting the saturated position of the business service segment due to the COVID-19 outbreak in India. The business association (FICCI) stressed upon the urgent need for relaxations like GST rate cut, PF contribution support for the business service segment. The sector having the total employee accumulation of […]
The government keeps on amending and updating the provisions related to different types of taxes. The reason could be anything, but in most cases, the changes are made for the ease of the taxpayers. In this article, you will get to know about such amendments related to GST Update. Goods and Services Tax (GST) in […]
Central Board of Indirect Taxes and Customs (CBIC) on 31st March 2020 released a circular with No.135/05/2020 in Subject of Clarification on refund related issues-Reg. The Circular actually provides clarification on some of the issues relating to GST refunds which have been received by Various representations. In order to clarify all the reported issues and […]
