Goods and Services Tax : Explore detailed updates on appeal filing rules, electronic acknowledgements, corporate guarantees, and more from the 53rd GST Cou...
Goods and Services Tax : Explore the key updates and amendments in GST notifications and circulars issued based on the 53rd GST Council Meeting recommendat...
Goods and Services Tax : Discover the key decisions from the 53rd GST Council Meeting held on 22nd June 2024, including compliance measures, tax clarificat...
Goods and Services Tax : Discover the latest GST Council updates from Circulars 207 to 222, covering appeals limits, manufacturing procedures, place of sup...
Goods and Services Tax : Discover key updates from 16 GST Circulars issued by CBIC post-53rd GST Council meeting. Learn about reduced litigation, special p...
Goods and Services Tax : Explore the impact of the 53rd GST Council Meeting recommendations, including waivers on interest and penalties under Section 73, ...
Goods and Services Tax : India GST revenue for May 2024 reached ₹1.73 lakh crore, marking a 10% year-on-year growth. Discover the details and trends driv...
Goods and Services Tax : The 53rd GST Council Meeting, chaired by Finance Minister Nirmala Sitharaman, produced several key recommendations aimed at easing...
Goods and Services Tax : Explore the April 2024 GST Council Newsletter covering discussions, record-high revenue collections, notifications, and legal insi...
Goods and Services Tax : In March 2024, India witnesses second-highest GST revenue collection at ₹1.78 lakh crore, marking an 11.5% year-on-year growth. ...
Goods and Services Tax : Madras HC rules on GST for flavoured milk in Parle Agro case. Key verdict on classification; implications for businesses....
Goods and Services Tax : SC held that recommendations of the GST Council are not binding on the Union and States. It held that Recommendations of the GST C...
Goods and Services Tax : In this matter learned counsel for the G.S.T. Council is unable to tell as to whether the Tribunal is constituted or not. Learned ...
Goods and Services Tax : GST Council has not recommended levy of GST on high speed diesel and same is not notified by the Central Government under Section ...
Goods and Services Tax : In terms of Article 279A of the Constitution of India, it cannot be said that the recommendations made by the Goods and Services T...
Goods and Services Tax : GST rates on solar cookers, fire water sprinklers, parts of poultry-keeping machinery, pre-packaged agricultural produce and suppl...
Goods and Services Tax : CBIC exempts UTGST on Indian Railways services and specific accommodation services from July 15, 2024, following GST Council recom...
Goods and Services Tax : CBIC's Notification No. 02/2024 lowers UTGST rates on cartons, milk cans, solar cookers, and brooder parts, effective July 15, 202...
Goods and Services Tax : Ministry of Finance amends IGST rates for railway services. Notification No. 04/2024 details tax exemptions for various services. ...
Goods and Services Tax : CBIC's Notification No. 02/2024 reduces GST rates on cartons, milk cans, and solar cookers from 18% to 12%. Effective from 15th Ju...
38th GST Council Meeting dated 18-12- 2019 1) GSTR-1 Late Fee Waiver on GSTR-1 1. Notification 4/2018-CT dated 23-01-2018, reduced late fee for delayed filing of GSTR-1 from Rs. 2 00/- per day to Rs. 50/- per day. For NIL returns it was reduced to Rs. 20/- per day 2. Notification 75/2018-CT dated 31-12-2018 waived […]
Rationalize rates on Woven and non-woven bags and sacks of polyethylene or polypropylene strips or the like, whether or not laminated, of a kind used for packing of goods which fallunder HSN 3923 or 6305 – will have uniform rate of 18% from 12% on all bags falling under HSN 3923 or 6305 including Flexible intermediate bulk containers (FIBC) to be effective w.e.f 01st Jan 2020.
1. Waiver of FORM GSTR-1 late fees Late fees for FORM GSTR-1 for period(s) july-2017 to November-2019, as proposed shall be waived off if filled by 10th January 2020 2. E-way Bill for taxpayers who have not filed their FORM GSTR-1 for two tax periods shall be blocked. 3. Provisional ITC further restricted to 10% […]
Due date for annual return in FORM GSTR-9 and reconciliation statement in FORM GSTR-9C for FY 2017-18 to be extended to 31.01.2020. Input tax credit to the recipient in respect of invoices or debit notes that are not reflected in his FORM GSTR-2A shall be restricted to 10 per cent of the eligible credit available in respect of invoices or debit notes reflected in his FORM GSTR-2A.
A presentation was made to the 38th GST Council on the issue of revenue, GST rate structure and compensation needs of the States. Before the presentation, the Convenor of GoM on revenue augmentation Sh. Sushil Kumar Modi, Dy CM (Bihar) made opening remarks about the revenue position and future roadmap.
To levy a single rate of GST @ 28% on both State run and State authorized lottery. This change shall become effective from 1st March, 2020. The Council also considered the rate of GST rate on Woven and Non-Woven Bags and sacks of polyethylene or polypropylene strips or the like, whether or not laminated, of a kind used for packing of goods
It is important to note that whatever is recommended by GST Council , does not becomes the law unless and untill the recommendation is notified in the offical garetta of India. The GST Council in its 37th meeting held in Goa had made the following recommendation , which are yet to be notified √ Small […]
CBIC issues 43 notifications on 30th September 2019 to give effect to Recommendations made by GST Council in its 37th Meeting. Most of the changes are effective from 1st October 2019 and includes changes in Custom Law, CGST, IGST and UTGST Law. Changes includes changes in Rates on certain Products and Services, Applicability of Reverse […]
The 37th meeting of GST Council was held on 20th September, 2019 at Goa where in several taxpayer friendly measures have been announced which inter alia include GST rate reduction on hotels, few exemptions, lower rate on diamond related job works and outdoor catering, measures to boost export, few clarifications and relaxation in filing annual returns etc. However, no change has been made in audit requirements.
Proposed changes in Hospitality Sector with respect to GST as discussed in the 37th meeting of the GST Council With the Puja and Winter vacations approaching, expeditions and trips are inevitable! The 37th Meeting of the Goods and Services Tax Council, held in Goa on 20th September, 2019 had proposed to lower the GST rates […]
