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The government may soon scrap the annual return filing and audit filing of the small business firms and taxpayers with turnover up to 5 crores. It is being speculated that the GST council meeting on 20th September may take some important decisions. Under the speculation, it is said that the meeting would discard the annual […]
GST ANX-1 and GST ANX-2 form have been added under the newer GST return filing system (GST 2.0). These forms will work as a supplement to the main returns forms, i.e., GST RET 1/RET-2/RET-3 under GST 2.0. These forms are apparently similar to the GSTR-1 and GSTR-2A forms that are used in the present GST […]
Recently the commerce ministry has proposed that the industries offering most of the jobs in the market will be having tax rebates to increase the employment opportunities in the country. Also, the ministry will be giving tax rebates on various products to boost the exports of the country. Some of the products like gems, jewellery […]
Vessels are very common yet essential in every kitchen. No family in the country is unaware of its usage, importance and noise. A similar echo is in Union Government appealing to reduce GST on vessels. Deputy Speaker Pollachi V. Jayaraman who attended the annual meeting of the federation on Sunday told media that the vessel […]
The festive season, a period when Indians usually bring new vehicles to their home, ahead of it, the automakers are seeking to get tax relief in the upcoming 37th meet of GST council on September 20, have encountered a roadblock. Considering the slowdown in the domestic automotive industry, where the government is ready to slash […]
There are two ways to cancel a GST registration – voluntary and by authorities. If in case, you have applied for (voluntary) cancellation of your GST registration, you must about your liability to file GSTR or pay a penalty in the interim period between the application date and the date of cancellation. How to Apply […]
The last date for filing ITC-03 is around the corner and it is sprouting out an immediate need for clarification on many issues. Beyond the shadow of a doubt, the real estate sector is one of the crucial cornerstones of our National economy with its contribution of around 6-8% in the Gross Domestic Product (GDP) […]
18% GST rate on vocational training courses is lacerating for employees as well as employers who impart training & education to their employees as a part of their Customer Social Responsibility (CRS). According to experts, the applicability of goods and services tax (GST) on workers’ enrollment for the government’s skill development programme is highly castigated […]
The Institute of Chartered Accountants of India (ICAI) has announced that a Unique Document Identification Number (UDIN) would be mandatory for all the certificates, GST and Tax reports, and all other audits, attest and assurance functions in phases for ICAI members and practising CAs. The last date for furnishing the tax audit report is 31st […]
