"21 July 2018" Archive

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

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 invoi...

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E-way bill summary under GST

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...

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

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....

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Anti-profiteering clause not applicable to E commerce operator acting as an Agent: NAA

Sh. Rishi Gupta Vs M/s Flipkart Internet Pvt. Ltd. (National Anti-Profiteering Authority)

E commerce operator is only acting as an agent and not covered by the anti-profiteering clause. However, it has observed the excess tax collected from customers were not refunded when rate of change took place for some of the products on 15th Nov 2017 in GST ...

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11 Key Recommendation by 28th GST Council Meeting

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

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

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 ...

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

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....

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GST council approves Simplified GST Return

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. ...

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28th GST Council meeting- Key Takeaways

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 […]...

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

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....

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August 2021