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The 56th GST Council meeting fixed tax rates to align with economic requirements, public demand, and industry needs. Following the meeting, the tax structure was simplified. All goods and services are now tax under a few specific slabs across different categories. These rates are linked to the Harmonised System of Nomenclature (HSN) for uniformity and […]
More than 200,000 new registrations under Goods and Services Tax (GST) were registered in Haryana since its nationwide inception in July 2017. Haryana is faring forward and performing well under the GST regime since its commencement in 2017 and this can apparently be claimed again when the total count of newly added registration swelled to […]
Enrol your name for a 4 day advanced certified training course on GST presented by Ministry of MSME (Micro, Small and Medium Enterprises). It is a clear opportunity to learn about GST at a much-advanced level. The training starts from 29 June 2019 in some of the prime cities like Ahmedabad, Jaipur, Agra, Cochin, Lucknow, […]
Finance Commission Chairman NK Singh on Tuesday emphasized the need to have a conversation between finance commission and the Goods and Service Tax Council (GST) on various concerns related to taxation matter. He further stated that the commission has requested the Finance Minister (who is also the chairman of the GST Council) and has received […]
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 […]
Every registered taxpayer whose turnover of an F.Y. is more than the specified limit of INR 2 crores u/s (5) 35 of the CGST Act shall get his accounts audited by a chartered accountant or a cost accountant and shall furnish its copy and a reconciliation statement in FORM GSTR-9C. From FY 2020-21 onwards Auditor certification […]
The 35th GST council meeting has been live since today 21st June 2019 and the newly appointed Union finance minister Nirmala Sitharaman is set to discuss and initiate the council meeting for the first time in her position. There are some important suggestions and discussions backed by tax experts which are to be taken in […]
In a bid to improvise the goods and services tax regime, the authorities are looking at every method to make it successful and more productive. Many of the industry experts have made some insights in the indirect tax regime and have come up with multiple suggestions ranging from GST evasion to future course. Let us […]
The government has identified hundreds of fake companies taking input tax from the government in the name of the goods and services tax (GST). Now the government is set to take action against them. These companies besides taking the input credit from the government in a fraudulent way, also help other companies in stealing GST. […]
