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Effect of GST Rate Revision by Tax Experts

Analysis of Positive or Negative Effect of GST Rate Revision

Because of the recent increase in the GST rate on some daily essentials everyday marketing would see a shift. The rise in the price seen in some items is labelled food items, packaged food items weighing up to 25 Kg per pack, or retail packs. Before the revision of GST rate was exempted, currently, a […]

Alert for Taxpayers Over 40,000 GST Returns Under Investigation

CBIC to Examine FY19 40K GST Returns for Restraining Fake ITC

To restrict the fake ITC claim and tax evasion, the CBIC would reveal nearly 40,000 GST returns for 2018-19 relying on the risk parameters for the scrutiny. The same shall be the 2nd batch of GST returns that will be liable for investigation post to CBIC has shown 35000 GST Identification Number (GSTINs) (allocated to […]

18% GST Rate for Crematorium Construction

Govt: 18% GST on Works Contract for Crematorium Construction Not Services

The government stated that there is no Goods and Services Tax (GST) on the funeral, burial, crematorium, or mortuary services. The press Information Bureau (PIB) articulated that the social media post which claims to affect there would be the GST on these services was guiding negatively.  But, for the works contract or the issued contracts […]

Withdrawal GST Exemption on Bio-Medical Waste

CBMWTF: Council to Revoke GST Exemption on Bio-Medical Waste

There will soon be a rise in the bill of the patient, with the GST council deciding to impose a 12% GST upon the service of collection of biomedical waste through these hospitals. The same tax load would be passed on to the patients by the hospitals. GST council will withdraw the exemptions on the […]

CAIT to State FMs Over 5% GST Withdrawal on Food Items

CAIT to FMs: Withdrawal GST Rate on Unbranded & Pre-packed Foods

Traders all over the country have asked for the withdrawal of the decision of the GST for the exemption on prepacked unbranded food items and levy of a 5% GST. The Confederation of All India Traders (CAIT) issue a memorandum to all the state finance ministers asking for taking back the decision as this would […]

Amendment in GST Rates to be Applicable from 18th July

GST Council 47th Meeting Decides GST Rates be Changed from 18 July

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 […]

GST Council to Remove Tax Exemptions

Council to Withdraw Few GST Exemptions and Correct Slab Rates

The GST official has decided to rectify various tax rates and withdraw the tax exemptions, excluding building a series of amendments to the enrollment and GST refund process to increase the collections of revenue. On the second and the final day of the 47th GST meeting, the officials would see into the demand from the […]

SME's Owners Review About GST with Expectations

SMEs See GST as Uniform Taxes But Owners Seek Easy Norms & Low Rates

The execution of the GST in 2017 directed to the uniform tax rates in the country, problems along with that lower tax rates, and simple compliance of the tax filings are being required to be handled to strengthen the platform. “Compliance framework for service providers is very complex requiring two returns to be filed every […]

GST Council to Amend GSTR 3B & New Platform for E-invoices

GST Council May Concern GSTR 3B Changes & E-invoices Platform

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 […]

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