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The CBIC had early received some complaints from exporters that in some cases the Integrated Good and service tax (IGST) refunds are being held for over 6 months. In this matter, the Central Board of Indirect Taxes and Customs (CBIC) recently directed the GST risk management wing to identify risky suppliers to exporters and submit […]
There were rumours that the Government will reduce the GST rates Grab the information of revised GST slab rates on consumer products in India, Although GST council finalized the slab rates like 5%, 12%, 18% and 28% for six months to boost demand after the lockdown, but if we take some time and think about […]
As you know already that the Release of GST Collection data for April month has been postponed. And now in this matter, Finance Secretary Ajay Bhushan Pandey on 13th May stated that the clear picture of the GST collection of April month is possible only on 30th June 2020. 30th June is also the last […]
The experts have said that providing an exemption of Goods and Services Tax (GST) on products and services being used to fight coronavirus like Medical Test Kits, Personal Protective Equipment (PPE), Masks, etc. might turn out to be counterproductive. GST on PPE is charged at the rate of 5% if the cost of the product […]
The 21 days lockdown announced by the Prime Minister on 24 March 2020 has been extended now till 3 May 2020 looking at the increasing cases of corona positive patients in India. Not only India but the entire world is struggling with COVID-19 crises and the government of every country is coming up with possible […]
The Government of Kerala has launched an Amnesty Scheme 2020 to settle the liabilities of the tax arrears arising during Pre GST (Goods and Services Tax). The government has introduced the scheme for the purpose of settlement of tax liabilities of arrear assessees before the introduction of GST to clear the backlog of taxes. The […]
Government by the way of Circular No.136/06/2020-GST, dated 03.04.2020 sorts out all the doubts related to the relief measures extended to benefit the taxpayers and business entities. By the means of this circular, taxpayer, as well as the local tax authorization, will be able to acknowledge the compliance requirements under provisions of Central Goods and […]
There are a number of companies that make a plethora of unbranded clocks units. And some well-known brands like Ajanta India, Oreva Group, Sonam Clock and Rikon Clocks Manufacturing Co produce around 15 million of clocks per annum. Just like any other industry in India, clock industry was going through a recession and now due […]
Good and Service Tax Network (GSTN) reported 10,000 new GST registrations and 8,000 refund applications on the portal during the lockdown. The report is of 10 days since the lockdown started (till 3 April). To handle the GST registrations and online applications Get to know the complete GST registration procedure online on the Indian government […]
