Goods and Services Tax : Explore Section 128A of the CGST Act, detailing the conditional waiver of interest and penalties for demands under Section 73. Und...
Goods and Services Tax : Explore key changes in GST post the GST Council Meeting on June 22, 2024, including interest waivers, input credit relief, litigat...
Goods and Services Tax : Explore the 53rd GST Council clarification on corporate guarantee valuation, recent Supreme Court decisions, and the impact on GST...
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 : Explore the major recommendations from the 53rd GST Council Meeting, including changes in GST rates, trade facilitation measures, ...
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 : Rajasthan HC dismisses petition challenging 18% GST on samosa and kachori, directs Sodhani Sweets to approach the Appellate Author...
Goods and Services Tax : Jharkhand High Court disposes of B D Enterprises' petition against GST Input Tax Credit time limits, aligning with the 53rd GST Co...
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 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...
Sachin Kumar Mishra GST TAX RELIEF FOR HOTELS – Upcoming GST on the Hotel Industry The GST Council has agreed to lower tax rates imposed on the hotel industry during its meeting on Friday. Led by Finance Minister Nirmala Sitharaman, the all-powerful council decided to tax hotels on rates varying from 18 to zero per […]
37th GST Council Meeting – Key Highlights Date: 20th September, 2019 1. Policy Changes New Return Filing System New Return filing to be introduced from April 2020 (Earlier proposed from Oct, 19) Annual Returns and GST Audits 1) GST Annual Returns GSTR-9 & 9A Optional for those with turnover upto 2 Cr for FY 17-18 […]
HIGHLIGHTS OF 37TH GST COUNCIL MEETING ALL THESE RATE CHANGES WILL BE EFFECTIVE FROM OCTOBER 1 2019. 1. GST Council recommends lower 12% cess on 1,500 cc diesel, 1,200 cc petrol vehicles with capacity to carry up to 13 people 2. Group insurance schemes for paramilitary forces under the Home Affairs ministry to be exempted […]
Filing of FORM GSTR-9 for those taxpayers who (are required to file the said return but) have aggregate turnover up to Rs. 2 crores made optional for the said tax periods. A Committee of Officers to be constituted to examine the simplification of Forms for Annual Return and reconciliation statement.
GST Rate on Services as Recommended by The GST Council in Its 37th Meeting The 37th GST Council met in Goa today under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman. The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Chief […]
GST Rate on Goods as Recommended by The GST Council in Its 37th Meeting- GST rates reduction a. 18% to 12% on parts of Slide Fasteners b. 18% to 5% on Marine Fuel 0.5% (FO) c. 12% to 5% on Wet Grinders(consisting stone as a grinder)
Analysis/Rational of Important Decisions/Proposal at 35th Meeting of GST Council. 1. Proposal of E- Invoicing The Council also decided to introduce electronic invoicing system in a phase-wise manner for B2B transactions. E-invoicing is a rapidly expanding technology which would help taxpayers in backward integration and automation of tax relevant processes. It would also help tax […]
GST Council has already proposed new return forms which shall be rolled out from January 1, 2020 but pilot testing will start now. The GST Council took some important decisions in 35th Council meeting held on 21st June, 2019 including e-invoicing, extension of due dates for returns including ones extension of tenure of National Anti-profiteering Authority etc. Some clarifications on refunds and taxability of post supply discounts etc have also been issued, besides amendments in GST rules.
Article contains Provisions applicable to a MSME related to GST Registration, Composition Levy Scheme, Input Tax Credit, Tax Invoice in GST, Exemption from Compulsory Audit by CA for MSME Sector, Returns in GST and Measures taken for the MSME Sector under GST. Article further contains Major Decisions of the GST Council related to MSME on […]
Shri. Arun Jaitley Today, the Goods and Services Tax regime enters its third year. The monumental restructuring of one of the world’s clumsiest indirect tax system was not an easy task. The challenges to implement the GST were compounded by some outlandish and exaggerated comments of the not so well-informed. It would, therefore, be only […]
