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The GST Council has recently shown a green flag to the e-invoicing or electronic invoicing commencement in a phased manner. The mechanism is an advanced level Business reporting model through which all the B2B invoices are directly communicated to the main GST System. Prior to its commencement, the new e-invoicing mechanism was discussed upon by […]
The GST Council has announced that a webinar will be organized today, i.e. 5th February 2020 at 4 pm IST on the topic – GST New Returns. This webinar will be presented by Mr. Shri Kumar Vivek AVP Services who will discuss various important topics like New GST Returns, its concept, business process and benefits […]
It’s been a few days left for the Union Budget 2020 presentation to take place in Parliament and the trade body Federation of Indian Chambers of Commerce & Industry (FICCI) has put forth another proposal. FICCI is sighing for excise duty benefits for the producers in the petroleum sector What will the scenario if petrol […]
A GST credit of approx INR 40,000 crore has been iced-up by the Central Board of Indirect Taxes and Customs (CBIC) on the grounds of GST returns mismatch Over the past months, many businesses in the country have received GST notices. There are around 34% mismatches or less GST payment, concluding the deficit. The departments […]
Besides, the extension of FAME-II advantages to e-bicycles was also sought by the Hero Cycles. “The budget must focus on reviving slumping demand across the country through a series of measures including re-adjusting GST slab rate to put more disposable income into the hands of people,” stated Pankaj M Munjal, Chairman, Hero Motors Company (HMC). […]
Goods and Services Tax (GST) rate cut has been sought for the white goods by the concerned sector from the Budget 2020 along with the incentives for manufacturing goods locally from the same. “Make in India” incentives are sought for the consumer durable from 1st February i.e. with the application of the Budget in order […]
Government is thinking of bringing the service providers like electricians, beauticians under the purview of Goods and Services Tax. The Department for Promotion of Industry and Internal Trade (DPIIT) is planning to make it mandatory for online marketplaces such as UrbanClap, Housejoy to associate only with those people who have GST numbers or GTINs. However, […]
Finance Minister Nirmala Sitharaman told that the government will iron out issues bothering traders under the Goods and Services Tax (GST) regime and that GST would be additionally simplified, on Tuesday in a CAIT (Confederation of All India Traders) program. Budget preparation is in full swing, keeping the relief for the taxpayer at greatest importance. […]
Businesses are preparing their systems for the commencement of petrol GST e-invoicing. Amidst the resonance of e-invoicing all over the nation, a specific relaxation to e-commerce companies could be seen. The giant e-commerce hubs such as Amazon and Flipkart might get the grant to upload e-invoices on behalf of their registered suppliers under Goods and […]
