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The 38th GST council meeting has been concluded with several major and minor changes in the GST rates as well as in the annual return filing due dates, penalty and ITC related provisions. Let us check out the complete amendments done under the finance minister Nirmala Sitharaman in the 38th GST council meeting. All Updates […]
Now the government has given another relief to the homebuyers by ordering the builders to return the additional GST taken from them. The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has recently ordered this to builders community. But on the contradictory, it has ruled down the issues that the homebuyers can claim the input tax […]
It is a Momento for all the businesses operating in India if the annual turnover of any business is more than Rs. 100 Crore then the supplier is required to generate the e-invoice for every sale. E-invoicing will be mandatory for such business from 1 April 2020. The provision will favour the tax government against […]
First of all, it should be made clear that GSTR 3A is not a form to file returns, instead, it is a form that is sent by the government of India (GOI) as notice. GSTR 3A refers to the form in which the government sent notice to the taxpayer for not furnishing the GST returns, […]
The composition levy scheme is an optional scheme for small taxpayers to reduce their tax burden in the easiest, legal and convenient way. It is a voluntary scheme by the Central Board of Indirect Taxes These types of taxes paid on Consumption by the consumer but they do not pay directly to the government (unlike […]
Tax officials lay a bad trip on B2C sales as a major reason behind emanation of government revenue that comes in the form of goods and services tax (GST). B2C transactions are prone to tax skipping as consumers pay in cash for products & services to the shopkeepers without generation of bills by them. To […]
Urging on the need to call for a GST council meeting, Bengal Finance Amit Mitra said that there should be a meeting to discuss the unsteady GST collections, various GST rates Grab the information of revised GST slab rates on consumer products in India, Although GST council finalized the slab rates like 5%, 12%, 18% […]
The computer system of the GST portal failed on Tuesday when there was only a day left for filing the GSTR-3B return form. Many taxpayers started facing trouble in filing the returns on GST portal as the portal crashes. Thousands of filers complaint about the issues on Twitter underlining the difficulty they are encountering while […]
Recently, the Central Board of Indirect Taxes and Customs has provided guidelines for the full electronic submission and processing of refund applications through FORM GST RFD-01A along with single disbursement via Circular No. 125/44/2019 – GST dated 18th November 2019. As per this latest GST circular, CBIC has made all the necessary arrangements to make […]
