If a person carrying out any business and have an annual aggregate turnover in the preceding financial year exceeding Rs. 20 lakhs (Rs. 10 lakhs in Special Category States), you need to register in all States/Union Territories from where you are making taxable supplies.
Pre- GST there was buzz that as per section 9(4) of the Central GST Act, 2017, jewellers also falls under the Reverse Charge Mechanism. Revenue Secretary Hasmukh Adhia’s, right before a day before press release said that purchase of old gold jewellery by a jeweller from a consumer will be subject to GST at the […]
There is a misconception floating all around that the services provided by a Housing Society [Resident Welfare Association (RWA)] will become expensive post GST. But that’s just the myth. Let’s discuss as to how GST throws good impact on services provided by Housing Property/ RWA. Relaxation upto Rs. 20 lakh If the aggregate turnover of […]
The last date for submission of intimation of composition scheme in on or before 21st July, 2017. The motto is to issue the registration certificate, called Goods and Services Tax Identification Number (GSTIN), to taxpayers who have already been issued provisional ID for registration (PID) as well as to the new taxpayers.
In the previous notification by CBDT, its being notified that it is mandatory to link Aadhar (12 digit Unique Identification Number) with PAN (10 digit Alphanumeric Parmanent Account Number) from July 1, 2017 for all the taxpayers.
Finally, after a long span of time, to regulate an unorganised sector i.e. Real Estate, The Real Estate (Regulation and Development) Act, 2016 (RERA) came into picture. Prior to which the real estate sector was not regulated by any particular Authority. It is used to be the most un-organised sector
Another relaxation is being given to smoothen the roll out of GST. Yes, a big relief to the exporters that they can export goods or services without payment of IGST, but after furnishing Bond/ Letter of Undertaking (Circular No.2/2/2017-GST).
The historical move, the biggest tax reform finally i.e. GST now a reality. Goods and Services Tax (GST) finally, after crossing all the hurdles, launched by Prime Minister Narendra Modi at Parliament’s historic Central Hall, together with President Pranab Mukherjee. Meeting started with FM Arun Jaitley’s speech by thanking GST Council. ‘GST is an Important […]
Earlier it was floated that if before July 1, 2017 PAN is not linked with Aadhar, then the PAN will become invalid, but that’s not the case actually. The Government has not declared yet anything in this context. Indeed the linking will become mandatory from July 1, but its not mandatory to link before July 1.
Finally, within few hours, the biggest tax reform, since independence i.e. GST after crossing all the setbacks, COMING INTO PICTURE. In a short span of time, GST became the talk of the nation. The waves of GST are all around the corner.
