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In the budget 2019, several GST related rules and regulations have changed which have been presented in the Finance Bill. Finance Minister Nirmala Sitharaman presented the budget 2019 on July 5, 2019. The budget promulgates the tax payment facilities in addition to the changes made in composition schemes. Most of the things presented in the […]
Providing a sigh of relief to exporters, the centre announced to pay the input tax credit (ITC) refunds of state taxes which will translate into lesser transaction time and costs. while the manual interface is being said under processing. As the industry claims, there is a huge difference between the amount claimed for ITC to […]
There is no need for me to elaborate on the importance of mobile phones in our lives; everyone is well aware of how essential a mobile phone for us. India has the second-largest mobile market in the world. A variety of mobile phones, smartphones, and mobile accessories are sold by micro, small and medium enterprises […]
What is GST PMT 09? Earlier launched by CBIC via notification no. 31/2019 CT on 28th June 2019, PMT 09 is the prescribed challan for relocating the falsely or erroneously paid ITC. For example, if you have paid CGST instead of SGST, you can rectify it by using this challan which is known as GST […]
With the royal ceremony in the central hall of Parliament, GST was implemented in its full swing on 30 June 2017 and was effective from 1 July 2017. On the occasion of the second anniversary of GST in India, today the finance ministry will introduce further new changes for good in the indirect tax system […]
The ITR-6 Form for Income Tax Return filing with the IT department of India is meant for only those companies that are not claiming exemption u/s 11 (Income from property held for charitable or religious purposes). Note: The ITR-6 offline utility, Mac (V1.1.7) and the JSON schema (V1.2) have been released on the official portal. […]
The National Anti-profiteering Authority (NAA) has made a pitch for the Standard Operating Procedure (SOP) for Central and State Tax Officials and presented it before the 35th GST council meeting on June 21. According to the proposed SOP, all commissioners of CGST and SGST will single out the top 20 suppliers including distributors, manufacturers and […]
Goods Transport Agency (GTA): The transportation services of goods by road under Notification No. 12/2017-Central Tax (Rate) dated 28.06.2017 (sr.no.18), are free from GST Services (Heading 9965): (a) By road, except for the services of: A Goods Transport Agency (GTA) A courier agency (b) By internal waterways. Therefore, till now, the goods transportation by road, […]
In this article, we discuss the GSTR-9 offline utility (v2.1) in Excel format, provided by the government GST portal. The GSTR-9 is an annual return form for all regular taxpayers, which they must file at the end of every year. The GSTR 9 annual return form consists of all the transactional details of the whole […]
