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Post April-2020, the new Goods and Services Tax (GST) returns that require more information to be furnished, will become effective. This will inflict companies to alter their enterprise resource planning (ERP) systems as the workflow impelled mechanism will supersede the current supplier-impelled traffic. According to the tax experts and chartered accountants (CAS), much more details […]
The 37th GST council took the decision to not to levy GST on the intermediary deals applicable on the various international transactions. However, the decision has not come through the notification. As per the decisions, it is cleared that the intermediaries giving services to the person receiving supply and the recipient of the goods are […]
As per the information by Right to Information Act by city lawyer Aires Rodrigues taken from the Commissioner of State Tax, there was an expenditure of a staggering Rs 3.26 crore on the 37th GST council meeting. The Union Finance Minister Nirmala Sitharaman was also the part of the meeting and the complete delegates and […]
The trial version of the New Returns Offline Tool has been released by GSTN. This is a trial version for Form GST ANX-1 and Form GST ANX-2 with an in-built matching tool and a Purchase Register template for the data import from purchase register for reconciliation. GSTN has released the trial version of Tool to […]
The first meeting of the GST review committee, exclusively formed for making the Goods and Services Tax (GST) recovery more effective, went inconclusive on Tuesday. The new meeting is proposed to be held in the next week. In the last meeting which was held on Tuesday, the committee reviewed the current situation of GST and […]
Two of the major government alliances The Indian Highways Management Company Ltd (IHMCL) and Goods and Services Tax Network (GSTN) have signed a memorandum of understanding which focused on the merger of FASTag with GST e-way bill system. About FASTag – Visible on vehicle’s windscreen, FASTag is a reloadable tag/sticker which automatically deducts the charges […]
Government of India is striving for Oil & Gas related infrastructure to have a City Gas distribution network that will cover 70% of the inhabitants of the city. This will certainly resolve the availability problem with natural gas consumption but affordability issue will still be there. However, bringing oil & gas under the purview of […]
The government is consistently enhancing the GST system to make it touch the highest visualized spectrum. For the cause, GST Network (GSTN) is introducing transformation in the current GST return filing interface to make it a more simplified return filing mechanism. “Although, various amendments were made in the currently active version 2 of the GST […]
The Directorate of Revenue Intelligence (DRI) is likely to re-send notices to exporters who are found guilty of availing inapt GST exemptions on exports preceded imports. The credit goes to the Supreme Court who put a stay on the order by the Gujarat High Court which earlier favoured the exporters by suppressing the notification allowing […]
