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All the registered taxpayers in India that are having an aggregate income of INR 5 crores or above must file the GSTR 9C annual audit form before the due date of 31st December for every FY to avoid any penalty & interest charges levied by the government. GSTR 9C is basically a reconciliation statement or […]
Increment in the GST rate on luxury cars to 25% led to the agitation among the luxury carmakers. The cold sweat scenario has now reached the crest and other carmakers are also joining the behest made by Rohit Suri who is the head of Jaguar Land Rover, India about discarding luxury cars as ‘sin goods’ […]
Any Joint Development Agreement or JDA of commercial project or sale of development rights is not exempted from GST. For now, it is mandatory to clear all sorts of confusion on GST rates for Joint Development Agreement or development right sale, especially for commercial projects. While certain exemptions are allowed for the transfer of development […]
On Wednesday, the Finance Ministry announced if there is any imparity in details of GST monthly sales return and outward supply, it has to be mentioned in the annual return form. Also, the payment of due taxes should be done. Further, clearing businesses’ doubts on considering the primary source of data for filing the annual […]
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 […]
The precarious number of Goods and Service Tax Returns filing is what we are witnessing even after two years of Goods and Service Tax ( GST) regime. Only 60 percent of eligible return filers file GSTR-3B. GST system has already completed two years of its existence but the number of GST return filers remained consistently […]
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 […]
By generating employment for 100 million people, MSME is the biggest job opportunities creator in the nation besides contributing essentially in the National economy with its deep-rooted power and potential to flourish. But MSMEs in India have been addressing numerous issues such as the sub-optimal scope of operations, outmoded technology, disorganised and inept supply chain, […]
