Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
Any prospective modifications in the Goods and Services Tax (GST) rates will need to be carefully considered and may need to be made gradually, according to Vivek Johri. In an interview, the Central Board of Indirect Taxes and Customs (CBIC) Chairman highlighted the significance of revenue efficiency and suggested that rate reduction be considered judiciously […]
Before the Goods and Services Tax (GST) Council meeting scheduled for July 11, the Fitment Committee has reportedly recommended a revision in tax rates for certain items. Sources reveal that the committee has proposed the elimination of taxes on Dinutuximab, a cancer drug, and a reduction in the tax rates for Kachri papad and steel […]
The Goods and Services Tax Network (GSTN) recently released an upgrade that allows taxpayers to explain the difference in GST liability between their GSTR-1 and GSTR-3B returns online via the DRC-01B form. The GST Council directed this change, which intends to simplify compliance procedures for taxpayers. This article gives an overview of the functionality and […]
In just six years, the Goods and Services Tax (GST) has increased significantly. From around 68 lakh in 2017 to around 1.4 crores the number of assessees would have twice, indeed the average monthly revenue has also climbed approx to the identical rate from near to Rs 90,000 crore in 2017-18 to Rs 1.69 lakh […]
For setting the GST appellate tribunals and hiring the members post-approval via GST council the central govt shall provide the guidelines, CBIC official stated. Shashank Priya member of the Central Board of Indirect Taxes and Customs (CBIC) (GST) mentioned that the department would be rendering for growing the assessee base and performing the data triangulation […]
On the supply of goods and services in India, GST would be the complete indirect tax that would get charged. The Goods and Services Tax (GST) has been in place for more than five years, but the GST litigation is still in its infancy. It is anticipated that as time quickly passes, more and more […]
In a recent move, taxpayers under the Goods and Services Tax (GST) are allowed to explain the errors or discrepancies in their inward and outward supply filed in tax returns on the GST portal itself, without being worried about receiving notice from the tax authorities. The Central Board of Indirect Taxes and Customs (CBIC) has […]
On the grid-scale battery storage, the power ministry would be acknowledging to suggest cutting the GST to 5% for assisting India in the transition to an energy mix with a bigger share of renewables. There is an 18% GST on the lithium-ion batteries used for utility or grid-scale power projects and 28% for the non-lithium […]
The electric vehicle (EV) industry is expected to experience significant growth, potentially reaching a value of $150 billion by 2030. In light of this, it is crucial to examine the applicability of the Goods and Services Tax (GST) to a crucial aspect of the EV ecosystem—the charging infrastructure. Current Framework As Per GST Laws To […]
