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42 Percent Drop in GST Collection

Uttarakhand Reported the Sharpest Drop of 42% in GST Mop-up

Almost every state is going through a tough time due to the Covid-19 pandemic and lockdowns, but the condition of Uttarakhand seems worst among all in the case of GST Collection In April and August of the current year, the Goods and Service Tax GST revenue sees a sharp decline of 30.4% in comparison to […]

No Late Fee for GSTR 4 and GSTR 10

CBIC Removed Late Fee on Furnishing GSTR 4 & GSTR 10 Form

Central Board of Indirect Taxes and Customs (CBIC) waived off the penalty or late fee which needed to be paid by the registered taxpayer if he/ she failed to furnish the return in Form GSTR-10 Get to know the fast learning guide to GSTR 10 along with easy online return filing procedure and original screenshots. […]

No Deduction for Property Tax

GST: No Deduction for Property Tax from Rent Value of Immovable Services Allowed, KAR AAR

Authority for Advance Ruling (AAR) Karnataka has held that no deduction towards property tax The constant demand from the public has made BBMP extend the deadlines for availing a 5% rebate on property tax from earlier April 30 to current May 31, 2020. Read more from the rent value of immovable services (RIS) is allowed. […]

Pre-filled GST Return Forms on the Portal

CEO of GSTN: Registered Businesses will Soon Get Pre-filled Forms of GST Returns

The CEO of GSTR-3B and GST network said that the businesses who are getting registered with GST will fastly get the return form. “We are moving towards providing taxpayers with a pre-filled GSTR-3B form GST council decided GSTR 3B filing until March 2019 in the 27th meeting. We researched and published some interesting points that […]

States Choose Borrow Option for GST Shortfall

Finally ‘Borrow’ Option Selected by 21 States for GST Compensation Dues

21 states have chosen the borrowing option from the centre to fill the shortfall of GST in between the coronavirus pandemic. This is called option 1 in which these states will be allowed to borrow the amount estimated Rs 97,000 crore through issuing the debt under the special window done through the finance ministry. The […]

Two New Features to Make GST Filing Easier

GST Portal got two New Features to Make GST Filing Easier

Common taxpayers will experience a whole new level of ease this month while filing monthly GST returns. The GST Network ( GSTN ) now has some important features on the portal related to link returns, these features are aimed to simplify the filing process of GSTR-3B Get to know details on GST return 3B form […]

Delinking of Credit/Debit Note from Invoice in GSTR 1 and 6

Delinking of Credit/Debit Note from Invoice in Form GSTR 1/GSTR 6 or Filing Refund

Until now it was mandatory for taxpayers to submit an original invoice number while reporting a Credit/debit Note in Form GSTR-1 or GSTR-6, But now GSTN provided them a facility on the portal which can be used for Reporting single credit or debit note issued regarding of multiple invoices in their Form GST Return 1 […]

April to August 2020 GST Collection

GST Collection for April to August 2020 Lower Than Last Year

In April and August of the current year, the Goods and Service Tax GST revenue sees a sharp decline of 30.4% in comparison to the last year. On September 14 the centre states that around Rs 2.72 lakh crore was the GST revenue between April and August 2020-21, and that was 3.90 lakh crore in […]

Hassle-Free GSTR 3B on GST Network

Filing GSTR 3B will be Hassle-Free as GST Network will Compute ITC

Over one crore taxpayers will get benefits of the recent positive changes introduced on the GST Portal. One of the major changes is that now filing of GST monthly returns will be hassle-free from this month, as GSTN or the IT backbone of the Indirect tax system has added two major functionalities. A total of […]

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