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GSTR-3 is a monthly return we file after GSTR-1 and GSTR-2. Where GSTR-1 contains the information of outward sales, GSTR-2 contains the detailing of inward sales or supplies, GSTR-3 is simply a return based on the information of GSTR-1 and GSTR-2.
It is expected that the newly implemented Goods and Services Tax (GST) bring down the prices of real estate projects but it has not happened nearly two months since GST was implemented in the country.
GST has rolled out on 1st July 2017, now the impacts are explicit on medicine prices. Currently, applicable GST rates on medicines are put in four categories: GST at 0%, 5%, 12% and 18%.
The GST TRAN 1 form is transition form for the already registered taxpayers in old schemes who are filing the GST TRAN -1 form for availing their previous input tax credit accumulated from earlier purchased stock before the implementation of the GST.
In his recent statement to the media, Bijay Kumar, Chief Commissioner of GST, Central Excise and Customs, Kolkata Zone, believes that the recently implemented Goods and Services Tax would bring down the costs of goods, in addition to bringing in transparency to the tax system.
Here we have described all the GST forms starting from GSTR 1 to the GSTR 11 along with their filing process in a detailed manner. The information is based on all the form introduced by the GST council while implementing GST in India. GSTR forms are mandatory to be filed by the registered taxpayers under […]
The government releases the GST return forms details which are mandated to be filed according to the due dates under GST mentioned in the attached notification. The submission and uploading of the returns are totally online. We have mentioned all the GST return filing due dates along with their respective associated GST forms such as […]
The Government has notified that under the GST regime, the banks will have to pay a 3 percent tax, in the form of IGST, on the imports of gold and precious metals, which will be available to be claimed as input tax credit.
The Narendra Modi government is ready to issue an ordinance over the coming weeks for increasing cess from 15 percent to 25 percent on luxury cars and Sports Utility Vehicles (SUVs).
