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The GST Council approved decriminalizing specific crimes and doubled the limit to the launching prosecution beneath the tax act to Rs 2 cr, however, kept the limit at Rs 1 cr for bogus invoicing. The department, for the SUVs (sport utility vehicles), charges a 22% compensation cess over the 28% GST and would have chosen […]
N K Singh, Chairman, of Fifteen Finance Commission, mentioned that the concern about the effective operation of the GST council could be repeated in the other sectors of the Indian economy, such as agriculture, the social sector, and the economy with digital links. The participation of the Indian states is essential to meet India’s net […]
Dr Amit Mitra, Former Finance Minister of West Bengal on Wednesday wrote to Union Finance Minister Nirmala Sitharaman aiming for an urgent Goods and Services Tax (GST) Council meeting, which he pointed out had not taken place in the last four and a half months. He was one of the founding members of the GST […]
GST 48th council meeting has finally been concluded, and the council has approved the report and decisions. The 48th GST council has discussed offences, e-commerce registration, and tribunal setup. The meeting was scheduled on 17th December 2022 via video conferencing with state ministers. 48th GST Council Meeting Updates GST offences can now be commenced at […]
Various tax rate amendments, along with the low-cost hotel accommodation, expensive hospital room rent, solar water heaters, coal bed methane, cheques, and select farm equipment, would get forced from 18th July and the online retailers would be exempted on the need of registration on par with brick-and-mortar traders with effect from 1 January, specified by […]
A 47th GST official ruled in Chandigarh has chosen to allow the composition assessee to make intra-State supply via e-commerce operators as per the precise conditions. The information about the scheme would be worked through the law committee of the official. The scheme will get executed with effect from the date 1/01/2023 as per the […]
The 47th GST official has suggested waiving the late fee for the delay in filing form GSTR-4 for FY 2021-22 and extending the last date to file the form GST CMP-08 for the first quarter of FY 2022-23. According to a press release provided post to the press meeting the GST official has decided to […]
To lessen the tax for the tour and the hospitality sector, the GST council’s fitment committee recommended imposing the tax on the margins incurred by the tour operators at an appropriate rate. A 5% GST would be imposed on the total tour cost without any utility of the ITC. The panel recommended a regularisation of […]
Goods and Services Tax officials would discuss some amendments in the law it is seeing to introduce, notified by CNBC-TV18. The same shall consist of the changes to GSTR-3B the monthly GST return which is to get furnished via assessee among the others. GST officials would notify the ease compliance bottlenecks for the e-commerce suppliers […]
