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In the series of GSTR return form filing, we have already discussed the procedures for filing GSTR-1, GSTR-2, GSTR-3, and GSTR-4; this is GSTR-5 for the person registered under GST and is a non-resident. It requires the detailing of inward and outward supplies from the business.
Adverse effects of GST(Goods and Services) regime can be clearly seen over handicraft industries. Census data says there is a huge downfall in handicraft industry from 1996 to 2010. The growth has slashed by approx. 53% which is a drastic price change we can see on hand-made products. Apart from this, the new tax framework also intercepting the growth of the industry.
GSTR-3 is a monthly return we file after GSTR-1 and GSTR-2. Where GSTR-1 contains the information of outward sales, GSTR-2 contains the detailing of inward sales or supplies, GSTR-3 is simply a return based on the information of GSTR-1 and GSTR-2.
The equivocation in rates on some products under Goods and services tax (GST) is making the natural Rubber industry to go down. Here are the reasons impacting the rubber industry:
GSTR 2 is a tax return form that is used for filing the details of inward supplies of goods or services for taxation purpose. The form will be filled online on the GST portal after registration
The GST Council has released GST return forms which are duly filled up every month for the return purpose. Along the 11 return forms, there are three forms which are considered to be significant and are to be filled up every month regularly. However, the forms are equal to everyone and include all the traders and merchants alike.
In a recent decision taken by the Modi government has given a relaxation and a worthy package of Rs 27,413 crore to all the hill states of India.
Goods and services tax has a direct effect on the exports of India as many of the revenue subjects are associated with the industry.
SAG Infotech Blog is a source for all the latest GST notifications for the FY 2025-26 regarding Central, Integrated, Union Territory, Compensation cess and their respective applicable taxes. Following the latest GST notifications, following proper laws, rules, and rates is necessary for every trading and business unit. It will keep the tradition in a proper […]
