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Search results for: Goods and Services Tax

Avadi Project: Penalty & 18% Interest Imposed by NAA

Avadi Project Denied ITC by Mahindra, Interest & Penalty Imposed by NAA

The National Anti-Profiteering Authority (NAA) has imposed a penalty on M/s Mahindra Lifespace Pvt. Ltd. as it did not provide completed benefits of ITC (Input Tax Credit) A complete guide for understanding the basics of input tax credit and it calculation with detailed examples under GST (Goods and Services Tax) India to the property buyers […]

18% GST on Renting Accommodation

Renting of Accommodation for Commercial Purposes to Attract 18% GST: AAR

The Authority of Advance Ruling (AAR), Andhara Pradesh, has held that all kinds of rent of accommodations for the use of commercial purposes will attract a GST (Goods and Services Tax) at the rate of 18% and such transactions will be covered under the “Rental or leasing services involving own or leased non-residential property” head. […]

35 Percent GST Revenue by Public Limited Companies

Public Limited Companies Generate 35% GST Revenue But Cover 0.6% in Total Number

According to the data provided by the GST (Goods and Services Tax) Network, Public Limited Companies amounts to only 0.6% of the total assessees registered under the GSTGet to know the complete GST registration procedure online on the Indian government GST portal official website. We have explained by the actual screenshot of every step Act […]

New MSME Udyam Registration

All About New MSME Udyam Registration Process with Penalty

After receiving the recommendations of the Advisory Committee for MSME Udyam Registration the central Government comes up with: The government introduced some specific criteria for classifying the enterprises as micro, small and medium enterprises. Also notified about the form and the process of filing the memorandum (Udyam Registration), w.e.f 1st day of July 2020 GST […]

GST Applicability for Power Utility Transactions

GST to be Charged for Power Utility Transactions Except for T&D: AAR

The AAR Tamilnadu, ruled that only the transactions related to distribution and transactions of the power utilities sector will be exempt from Goods and Services Tax (GST) Check out the latest official updates under GST (Goods and Services Tax) by the CBIC department. Also, we include notifications & circulars/orders regularly. Read more. All the other […]

Stabilise the GST Tech Platform

Why the GST Tech Platform Needs to Be Stabilised?

Goods and Services Tax (GST) completed three years on July 1, 2020, it was introduced to keep the taxation system simple and beneficial for taxpayers. It brings various changes and also the compliance rate has been improved. But still, there is a major issue Central as well as the State government are complaining about, and […]

FM: Focus on Easing the GST Compliance

Finance Ministry New Strategy to Ease Compliance for High GST Revenue

The government has decided that it will focus on easing down the compliance for GST (Goods and Services Tax) for the benefit of the assessments. The government thinks that easing will bring more revenues to the government. With better and easier filing and payment compliance, more taxpayers will submit the GST returns

AEO Certification Renewal Dates Extended

AEO Certification Renewal Dates Extended by CBIC Department

Central Board of indirect taxes and customs (CBIC) has finally extended the AEO certification validity for the relief in the renewal process and has now fixed the date of 30th September 2020. As per the recent reference given by the board which is concerned with the Para 5.1 Circular No. 33/2016-Customs dated July 22, 2016, […]

No Late Fees on GSTR-3B with NIL Liabilities

No Late Fees on GSTR 3B for Assessees with NIL Liabilities: CBIC Dept

The Central Board of Indirect Taxes (CBIC), which controls Goods and Services Tax (GST), has announced that the department will not charge any late fees for the delay in the filing the returns under form GSTR-3B Get to know details on GST return 3B form along with the online return filing procedure. Also, we mentioned […]

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