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Search results for: input tax credit

Differences Between Exempted, Non-GST, NIL, Zero Rated

Difference Guide: Exempted, Non-GST, NIL, Zero Rated Supplies

Through the GST, the goods and services are categorized in the Nil Rated, Exempted, Zero Rated, and Non-GST supplies. Let’s see what is the difference between them. Latest Update 09th August 2022 After the implementation of GST in India, Bihar and Uttar Pradesh have the highest digit of active and registered taxpayers who have paid […]

GoM to Prune GST Exemption List

GoM May Advice Pruning Exemption List Before 47th GST Meeting

An empowered group of ministers (GoM) seeing towards rationalizing the rate might be asked for reducing GST exemptions on the specific goods and services and rectifying the inverted duty framework in the subsequent 47th GST council meeting. The ministerial panel might be conducted before the council meeting and might postpone its rate rejig concern till […]

Advanced Technology for Improved GST Structure

ITC Challenge, Digitalization and Future of GST E-invoicing

Inside the indirect tax system, the GST began to remove the inefficiencies. The GST has been able to achieve some of its goals while there is much more yet to be done, particularly when it is being the question of the smaller business entities. This new system has thrown up prior to facing the challenges, […]

April 2022 GSTR 3B Due Date Revised

GST Notification 05/2022 for Extension of GSTR-3B Date Due to Glitches

As the assessee suffers from the technical issues on the GST portal, the government has prolonged the GSTR-3B last date for April tax payment till 24th May 2022 via notification number 05/2022 and has rendered Infosys for the early resolution of the issues. Also, the central government has extended the deadline of the GST PMT-06 […]

Delhi HC's Order in the Case of Amit Gupta Vs DGGI Headquarters

Amount of Bail Can Be Paid by GST ITC Cash, Debit Ledger: Delhi HC

The Delhi High Court bench of Justice Mukta Gupta rendered that the bail amount could be paid by cash ledger and debit ledger of GST Input Tax Credit (ITC). The council alleged that the applicant is one of the directors/key persons in M/s Brilliant Metals Pvt. Ltd., M/s Progressive Alloys India Pvt. Ltd. and M/s […]

Kerala High Court Order for GST Department

Modify TRAN-1 Form Facility by Creating Suitable Arrangements on GST Portal: Kerala HC

The Kerala High Court bench of Justice Bechu Kurian Thomas rendered that the GST department provides the amending of Form GST TRAN-1 and furnishing of Form GST TRAN-2 through making required arrangements on the web portal. Under the Kerala, Value Added Tax Act, 2003 as well as the Central Sales Tax Act, 1956, the applicant […]

Why Increasing GST Collection Month-on-Month?

New Technology & Tight Compliances Behind High GST Collections

Effective use of the new technology and tight compliances on the ITC by taxmen is not only assisted you to ensure the increased compliance but indeed results in a constant rise in the GST collections on a month-on-month (MoM) grounds. As per CBIC on the scrutiny of returns and the reduction in the e-invoicing limit […]

FHRAI Demands for GST Rate Rationalisation & Easy Rules

FHRAI Appeals to Council for Simple GST Rules & Rate Rationalisation

Quoting higher inflation, the Federation of Hotel and Restaurant Associations of India appealed to the GST council to rationalize the GST rates for the hospitality sector. FHRAI indeed urged the government to acknowledge the update of simple GST rules to enable the establishments to come beneath the hospitality segment to claim the ITC. The same […]

GST and TDS on Promotion Via Google Ads

Full Guide to GST and TDS Rate on Promotion Via Google Ads

GST @ 18% is charged and TDS @ 2% is deductible up on the Google Adwords advertisement expense. The same is essential to find out that some publishers are advertising with the help of the Google entity which is enrolled in India and some of the advertisers are doing the same with the support of […]

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