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Archive: 21 July 2018

Posts in 21 July 2018

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6456 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Outcome of 28th GST Council Meeting Held on 21st July, 2018

July 21, 2018 47124 Views 7 comments Print

Recommendations made during the 28th Meeting of the GST Council held in New Delhi on 21st July, 2018 : All taxpayers excluding small taxpayers and a few exceptions like ISD etc. shall file one monthly return. The return is simple with two main tables. One for reporting outward supplies and one for availing input tax credit based on invoices uploaded by the supplier

E-way bill summary under GST

July 21, 2018 16527 Views 6 comments Print

E-WAY BILL [Chapter XVI, Rule-138 of CGST Rules, 2017, Notification No.12/2018–Central Tax dt.07.03.2018] E-Way Bill is the short form of Electronic Way Bill  It is a unique document / bill, which is electronically generated for the specific consignment / movement of goods from one place to another, either inter-state (out of state) or intra-state (within […]

Increased threshold for tax litigation – A relief to taxpayer and to overburdened judiciary

July 21, 2018 2286 Views 0 comment Print

A big question before the Government – How to reduce the overburdened judiciary. A tax issue may take 5 to 7 years to settle at ITAT level and another 5 to 7 years, if matter moves to courts.

11 Key Recommendation by 28th GST Council Meeting

July 21, 2018 5091 Views 3 comments Print

This article is about the Latest Updates on Recommendations of 28th GST Council Meeting.

List of Changes in GST Rate on Goods in 28th GST Council Meeting

July 21, 2018 62340 Views 24 comments Print

GST Council Recommends GST Rates Reduction on Several Goods & for specified handicraft items GST rates have been recommended to be brought down to Nil on Sanitary Napkins & Rakhi & more Goods GST Council recommends for allowing refund to fabrics on account of inverted duty structure Rate change made in respect of footwear The […]

GST rate on Services- 27 Major Changes in 28th GST Council meeting

July 21, 2018 48009 Views 5 comments Print

The GST Council in its 28th meeting took decisions relating to exemptions / changes in GST rates / ITC eligibility criteria, rationalization of rates / exemptions and clarification on levy of GST on services.

GST council approves Simplified GST Return

July 21, 2018 11013 Views 0 comment Print

The Council approved quarterly filing of return for the small taxpayers having turnover below Rs. 5 Cr as an optional facility. Quarterly return shall be similar to main return with monthly payment facility but for two kinds of registered persons – small traders making only B2C supply or making B2B + B2C supply.

28th GST Council meeting- Key Takeaways

July 21, 2018 50706 Views 6 comments Print

Recommendations made during the 28th meeting of the GST Council held in New Delhi on 21st 2018 Amendments to the CGST Act, 2017, IGST Act, 2017, UTGST Act 2017, and GST (Compensation to States) Act, 2017 The GST Council in its 28th meeting held here today has recommended certain amendments in the CGST Act, IGST […]

GST migration window for tax payers till 31st August, 2018

July 21, 2018 5454 Views 2 comments Print

The GST Council in its 28th meeting held here today has approved the proposal to open the migration window for taxpayers, who received provisional IDs but could not complete the migration process.

How will merging of GST Return Filing & ITR Filing check tax evasion?

July 21, 2018 5382 Views 0 comment Print

The mismanagement of the tax compliance procedure encourages the black money menace, something strips the State of its much-needed revenue and ultimately ruins the economy of the nation The only way to check the GST tax evasion integration of direct and indirect tax mechanisms for tracing GST defaults. In this regard, the Income Tax authorities have now come forward to trace the entities whose income tax return contain intentional discrepancies in comparison with their GST return filing.

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