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The Indian Air Force has appealed the Directorate of Revenue Intelligence (DRI) to see in a new light the imposition of huge integrated goods and services tax (IGST) on parts of aircraft which attract no tax under the harmonised system nomenclature (HSN) code pursued by GST for putting the goods under five tax rate slabs […]
The 36th GST council meeting discussed major topics such as reducing the GST rate applicable to e-mobility solutions and to conclude the GST rate for solar power producing systems and wind turbine projects. Finally, the long-awaited decisions by the government have been done in the view of constant demand by the public as well as […]
Constantly stepping up the ladder, GST collections of the states and union territories have shown a considerable hike from Rs. 2.91 Lakh Crore in FY 2017-18 to Rs. 5.81 Lakh Crore in FY 2018-19 said Union Finance Minister Nirmala Sitharaman in Parliament. Further to this, the Finance Minister in a written statement responded to the […]
Providing a sigh of relief to exporters, the centre announced to pay the input tax credit (ITC) refunds of state taxes which will translate into lesser transaction time and costs. while the manual interface is being said under processing. As the industry claims, there is a huge difference between the amount claimed for ITC to […]
BJP government is eyeing on lowering down the GST rate on multimodal transport operators from 12% to 5%, as the Assembly elections are nearing. The government is likely to make recommendations for the same to the Goods and Services Tax (GST) Council. The state is stepping ahead for providing a bundle of concessions to the […]
What is GST PMT 08? Form GST PMT-08 is introduced under the new simplified GST Returns, this helps the taxpayers to make the payment of self-assessed tax like TDS or ITC. The form is used instead of GSTR 3B. A taxpayer has to use this form every month for declaring and paying the monthly tax […]
More than 200,000 new registrations under Goods and Services Tax (GST) were registered in Haryana since its nationwide inception in July 2017. Haryana is faring forward and performing well under the GST regime since its commencement in 2017 and this can apparently be claimed again when the total count of newly added registration swelled to […]
Breaking all the records, Goods and Services Tax (GST) made a remarkable collection of Rs. 1 Trillion for two successive months, but the June month was somehow ill-fated as the collection of Indirect Tax fell considerably to Rs. 99,936 Crores. On a good note, the average quarterly collection of April-June managed to reach Rs. 1.04 […]
Enrol your name for a 4 day advanced certified training course on GST presented by Ministry of MSME (Micro, Small and Medium Enterprises). It is a clear opportunity to learn about GST at a much-advanced level. The training starts from 29 June 2019 in some of the prime cities like Ahmedabad, Jaipur, Agra, Cochin, Lucknow, […]
