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Search results for: GST regime

GST on Electricity via NTPC Report

More Than INR 5,000Cr Loss If 5% GST Levy on Electricity

A proposal to draw the electricity under the GST regime will make a loss of Rs 5780 cr towards both centre and state. In the report, a 5% GST rate would be recommended for electricity. In the case when all the current electricity duties are included in GST the losses surge to Rs 59000 cr […]

Protect GST Input Tax Credit

Best Tips to Protect GST ITC After Draconian Changes 2022

Under GST the new year 2022 is going to draw the important amendments in the way of claiming the GST ITC via assessee. Another condition to claim the GST ITC via the recipient of goods and services made by the Finance act 2021 would get effective from 1st Jan 2022. Through the forthcoming amendments, the […]

GST Taxman's Lens Over Food Discounts from 2022

GST: Food Discounts May Come Under Radar of Taxman’s Scrutiny from 2022

Under the GST regime, the coupon discounts furnished via food delivery platforms engaging with Zomato & Swiggy need to face the taxman’s investigation starting from Jan 2022. The problem is about the discounts provided via delivery apps with respect to the specific credit card, debit card, or digital wallet towards doing the payments. People just […]

Expectations for GST Amendments in 2022

More GST Amendments to Crumble Down Issues in 2022 for Taxpayers

The Indian economy is likely to recover from the pandemic. Some decisions have been opted by the GST regime. For example, the same proceeded towards the electronic compliance mechanism, electronic dissemination of notices, and avoidance of a physical interface. But on the rationalization of tax rates, procedural amendments under GST, availability of exemptions and availability […]

New Amendment for GST ITC

Govt Authority Mandates Invoices Matched for GST ITC from 2022

Under the GST regime, the finance ministry has circulated a notice dated 1st Jan 2022 as the date towards the norms pointing 100% invoice matching essential for GST ITC (Input Tax Credit). Towards every taxpayer, the framework computes GST ITC based on the return furnished through his or her supplier. “These curb the chance of […]

New Aadhaar Rule for Filing GST Refund

CBIC Mandates Aadhaar for GST Refund e-Filing from 1st Jan 2022

Aadhar authentication of the enrolled shall be important to get entitled for filing the refund claim and application of revocation of cancellation of the GST registration through taxpayers. The finance ministry has mentioned the date. The GST official in its 17th Sept has decided to make the Aadhar authentication important. The guidelines have been mentioned […]

Budget 2022 Expectations for Personal Accident Insurance

Budget 2022: Personal Accident Insurance Expectations, Tax Deduction & Low GST Rate

Policyholders do not have the major intention about the personal accident insurance covers. However, it is an essential cover for the majority of the people it is not being purchased normally. If in the union budget 2022 they mentioned that provide the tax deduction towards the premium furnished to buy the Personal accident insurance then […]

Textiles Ministry Views Over Revised GST Rate

New GST Rate Will Work for Compliance, Capital & ITC Hassles

GST rates revision which is subjected to apply to the textile industry to rectify the tax anomaly dated 1st Jan and this helps in securing the money used as working of businesses and lessens the compliance load and solves the ITC concerning issues the textiles ministry. GST officials decided to amend the tax anomaly known […]

GoM Meeting May Soon to Finalise GST Recommendations

GoM Meeting May Soon to Finalise GST Recommendations on Rates & Exemptions

India can perform the essential improvisation of GST structure as it is turning five in the subsequent year of July, the compensation to states arrives at an end. The revamping of the tax slab and diminishing the exemptions can be acknowledged towards the single tax which was released on 1st July 2017. The latest regime […]

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