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The 42nd GST Council meeting finally took place in New Delhi on 5th October 2020. The meeting chaired the finance minister Nirmala sitharaman and the Minister of State (MoS) for Finance Anurag Thakur along with finance minister of all the states. The 42 GST council meeting has taken some major decision based on the GSTR […]
On August 25, 2020 the proposal of introducing the Punjab Goods and Services Tax (PGST) (Amendment) Bill 2020 was approved by the Punjab Cabinet. The cabinet is also simplifying the provisions and process to impose and collect the taxes as per the Punjab Goods and Services Tax (PGST). As per a source from the Chief […]
With the Notification No. 49/2019 – Central Tax dated 09-10-2019 w.e.f. 01-07-2017 authorities made amendments in Rule 61(5) of CGST Rules. Which now states that If return in form GSTR 3B has been filed by a person referred to in rule 61(1) then he/she doesn’t have to furnish the return in from GSTR 3. Due […]
The 41st GST Council Meeting was organized on August 27, 2020, till 5:30 pm. The GST council meeting members discussed the “revenue compensation to states”. The 41st GST Council Meeting was conducted via video conference due to the corona pandemic. Also, there was some discussion pending before the GST council such as GST rate cut […]
Chandigarh the union territory of India collects 83.10% of GST from April 2020 to July 2020. The city has exceeded the country for filing ITR in the lockdown phase and follows the union territories such as Gujarat with 81.44% and Punjab with 81.10% of GST collections. From the sources, it shows that the union territory […]
Due to COVID-19, the Punjab government has collected 38% Goods and Service Tax (GST) in its first four months as compared with the last year. According to the Taxation dept, the total collection of both the SGST and IGST Get the brief introduction of SGST, IGST and CGST. We have mentioned their full forms, meanings […]
As per a recent update, the imposed ban on deemed approval for new GST registration has been lifted by the Goods and Service Tax (GST) Department. The ban was imposed by the authority during the lockdown period due to fear that the registration facility can be misused when the department is not functioning properly. Several […]
The High Court of Madras has held that the time limit under GST Transactional Credit is not a directory but mandatory. This ruling is the opposite of that issued by Bombay HC, which the Supreme Court has ut under stay. Transactional credit is the credit collected from central excise and service tax (the older indirect […]
According to the data provided by the GST (Goods and Services Tax) Network, Public Limited Companies amounts to only 0.6% of the total assessees registered under the GST Get to know the complete GST registration procedure online on the Indian government GST portal official website. We have explained by the actual screenshot of every step […]
