Powerd By SAG INFOTECH
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Recently the government had found the GST collection to top the all-time high with a considerable high in the collection compared to other states as well as the previous time duration. The 4 states and one union territory under the list have been ranked on most GST collection earning regions. Let us check-in details how […]
Recently the AAAR again held the decision on the fact GST not applicable on notice payment and allowed canteen services ITC. The judgement of the AAAR Madhya Pradesh has been done in the regarding of M/S. Bharat Oman Refineries Limited [Advance Ruling No. MP/AAAR/07/2021 dated November 8, 2021]. The reversed fact is done on multiple […]
The government, through the approval of GST officials, made a group of ministers beneath the leadership of the Karnataka chief minister so as to build the recommendations upon the GST rate rationalization. The motive behind this is to make a balance between GST revenue collection with respect to industrial competition effectiveness. The effective GST design […]
GSTR 9 based table 8A is the significant section concerned for the taxpayers in that it has auto-populated features along with the eligible ITC details concerned with the complete financial year from the relevant GSTR 2A return. Also to note that the left out sections columns and fields in Table 8 are to fill up […]
The Karnataka Authority of Advance Ruling (AAR) recently held that the baby wipes will be applicable with 18% GST as a petitioner had come up with a query on the GST applicability on its products. The M/s Xtra Care Products Private Limited which also happens to be the applicant in the matter has been doing […]
GST collection in November 2021 has been topping the charts since the implementation of GST as there is 25% growth from the same month last year and 27% higher than 2019-20. The GST revenue (gross) collected in the month of Nov 2021 is INR 1,31,526 crore and dividing it has CGST at INR 23,978 crore, […]
GSTR 2B is an alternative form for all the month-wise auto-drafted statements for the taxpayers having regularity. Also to check the QRMP scheme if opted or not. The GSTR 2B is a validation form to offer the ineligible and eligible input tax credit for every month just like the GSTR 2A form however being similar […]
The Central Board of Direct Taxes (CBIC) mentioned the update on the gst.gov.in website, towards the enrollment of the cancellation form REG-16 in which it is mentioned that “Taxpayers can now withdraw their application for cancellation of registration (filed in Form REG-16) unless the tax officer has initiated action on it.” The assessee who formerly […]
GST requires a change in its rate structure, the government is urged to take the harder political decision soon or in the times to come. This is seen after the effective GST collections improvement from the previous fiscal year. The requirement to change the GST structure emerges from the concern that the revenue-neutral rates which […]
