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According to the specialists, the manufacturers and wholesalers who supply a discount to retailers to pass on to the customers, GST on which is creating confusion and pushing towards possible legal proceedings. The retailers say that GST on discount can put them into a difficult situation following the government’s recent decision. In June 2019, the […]

The CBIC (Central Board of Indirect Taxes and Customs) has said that 12 per cent of GST must be paid by the home buyers compulsorily and this is only for those who have to give the amount to the builder and whose housing project got the completion certificate before 1st April 2019. The CBIC issued […]

The FMCG (fast moving consumer goods), retail, food, and pharmaceutical companies can now sigh in relief because the government have read their minds and clarified that the ITC (Input Tax Credit) will also be applicable for promotional schemes like the ‘buy one get one free’ (BOGO) and with the same price and extra quantity.

GSTR 7 form filing is done for tax deducted at source and is to be filed by 10th of next month for a particular tax period, by all the eligible taxpayers who deduct tax at source. 

Finally, the CBIC portal has issued an order for all the taxpayers so that they can file annual returns till 31st March 2019.

According to the latest notification from the CBIC, it has been cleared that the e-commerce companies now will not be collecting the TCS from the suppliers who had a turnover not exceeding INR 20 lakhs and also not registered under the GST.

Finally, the prime minister takes the step into the long pending GST refund issues of the exporters as the PMO organized a meeting with Mr. Narendra Modi to listen all the related grievances summoning the CBIC.