Find out how the recent GST rate hike will impact the common man. Essential items, bank services, and more will get costlier from July 18, 2022.
Road projects in India are classified as Build-Operate-Transfer (‘BOT’) toll, BOT-Annuity, Engineering, Procurement and Construction and Hybrid Annuity Model
The 45th GST Council Meeting convened in Lucknow on 17th September, 2021 for its first physical meeting in 20 months with a packed agenda. A plethora of decisions & recommendations were made. The following is a summary & detailed analysis of various decisions taken: 1. Extended concessions to specified drugs used in COVID treatment Concessional […]
Are CGST officers required/allowed to wear uniforms? Immediately after GST came into force, on 13.07.2017, a RTI question was asked, Under which Rule of GST or otherwise Central Excise officers are wearing uniform after 01.07.2017?
1.0 Brief Background The GST compensation cess is levied under Section 8 of the GST (Compensation to States) Act, 2017 to compensate the States for any loss of revenue arising on account of implementation of GST for five years. The GST compensation cess is transferred into a non-lapsable Fund known as GST Compensation Fund which […]
In this Volume of GST & Corporate Tax Weekly Newsletter dated 17.07.2021, I bring to you highlights of recent updates, important judgments of last week &Compliance Calendar for the upcoming week in the field of indirect taxation and direct taxation to keep you abreast of all the latest happenings. 1. GST Updates CBIC clarifies on Hon’ble […]
In this Volume of GST & Corporate Tax Tabloid dated 17.07.2021, I bring to you highlights of recent updates and important judgments of last week in the field of indirect taxation and direct taxation to keep you abreast of all the latest happenings. 1. GST Updates CBIC proactively put in place a COVID Response Plan (CRP) for speedy clearances […]
The GSTN has deployed various new functionalities on the GST portal for the benefit & ease of taxpayers. Below is a brief compilation of all such new functionalities in the GST Portal deployed in June, 2021 for taxpayers: A. GST Returns 1. Moving the records saved in IFF, to later months of same Quarter, by […]
Few important changes related to QRMP Scheme have been implemented on the GSTN Portal for the taxpayers on 06/07/2021 which includes Auto population of GSTR-3B liability from IFF and Form GSTR 1, Nil filing of Form GSTR-1 (Quarterly) through SMS and Impact of cancellation of registration on liability to file Form GSTR-1.
Welcome Announcements by Finance Minister to boost COVID affected sectors: Healthcare, Tourism, Exports, Job Creation In a bid to boost the economy battered by the second wave of COVID-19, Finance Minister Smt. Nirmala Sitharaman, on 28th June, 2021, announced a relief package targeting healthcare, tourism, exports and job creation, among others. The liquidity portion of […]
