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The All India Gem and Jewellery Domestic Council (GJC) requested the government to diminish the rate of GST (goods and services tax) to 1.25%. Inside the pre-budget 2022-23 suggestions to the central finance minister Nirmala Sitharaman said that GJC seeks the cumulative GST rate with 1.25% relied on the revenue equivalence principle on gold, precious […]
The Goods and Services Tax Network (GSTN) has enabled some new features on the GST portal for taxpayers. GSTN has told about various changes made in Form GSTR-1 or IFF with an aim to improve the taxpayer’s experience on the portal. These improvements have been made to the GSTR-1 and GST IFF (Invoice Furnishing Facility) […]
GSTR 9 and GSTR 9C Forms Due Date Extended Finally, GSTR 9 and 9C Due Date Extended by Government Over Multiple Request. The annual return form GSTR 9 and the reconciliation statement i.e. self-certified statement forms GSTR 9C for the FY 2020-21 due date have been extended finally by the government in order to justify […]
The Rajasthan High Court in the case of Vinayak Plylam Marketing Vs Superintendent, Central Goods, and Service Tax and Ors. rendered tax authority to immediately unblock the GST ITC claimed inside the electronic credit ledger via applicant since the statutory time limits given in Rule 86A of the CGST Rules, 2017 has passed. Advocate Prakul […]
Bibek Debroy, chairman of the Economic Advisory Council to the Prime Minister (EAC-PM) urge a forum as per the Goods and Services Tax (GST) Council for the expense based with all – Union, states, and local bodies. India’s Inflation rate hit a 12 year high but the biggest hardship is for the revival of the […]
Beneath the GST nearly 6.12 cr e-way bills for interstate commerce have arrived in the month of November, figured with the lowest in previous 4 months showing moderation in goods dispatches after the festive seasons. Since June 2021 a constant surge has been seen in GST e-way bill generation post falling to below 4 cr […]
The Central Board of Indirect Taxes and Customs (CBIC) urged the field officers to assist in the revision of GST collections from October 2021 that poses the 2nd highest since the government has started the indirect tax rectification in 2017. The indirect tax council asked the senior councils to assist the field officers to ask […]
There are various businesses that furnish discounts, reduced costs, or extended payment cycles to clients in between the covid-19 pandemic who urge the government to define the impact of goods and services tax (GST) upon the amounts. As per the tax experts, the companies who provide the credit notes under GST or credit memorandums that […]
Chief Minister Basavaraj Bommai, who manages the Group of Ministers on Goods and Services Tax (GST), chaired a meeting on the cost of rationalization and the methods towards revenue augmentation. GoM furnished the report in the month. It specified in the discussion that the virtual meet runs for 4 hours on Friday. Under the date, […]
