If you are a supplier and somehow forgot to upload invoices issued to a registered recipient in Goods and Services Tax (GST) Return-1, no need to panic we are here to pull you out from this. There is no need for unnecessary concern for the recipient. Although, we can not add invoices once the GST … Continue reading “Forgot to Upload Invoices in GST R-1? Don’t Worry We Got You Covered”

The 22nd GST Council Meeting was held at New Delhi on the 6th of October 2017. In the meeting, various decisions and changes pertaining to GST have been announced which are given below:- Businesses having turnover up to Rs 1.5 crore will file quarterly returns, not monthly returns. Compliance burden of medium and small taxpayers … Continue reading “22nd GST Council Meeting- Key Decisions”

In recent updates, the Government has extended various timelines and has also given exemption to specified services, as mentioned below. Display of revised Maximum Retail Price (MRP) Manufacturers, packers or importers of specified pre-packaged goods were permitted to display their revised MRP on the packages on account of implementation of GST, up to 30 September … Continue reading “Timelines for Various Date Extensions and Exemptions to Various Services under GST”

As per the current Goods and Services Tax (GST) regime, GST taxpayers must file 3 statements for each month (GSTR 1, GSTR 2 and GSTR 3), coupled with the annual statement. From a wider perspective, a taxpayer must file 36 statements in a year. This is more of backbreaking as taxpayers are facing a lot … Continue reading “Government may Grant Relief by Reducing Annual GST Filings”

The Government has been trying to make revolutionary changes in the market by launching new rules and acts. Since then there have been certain changes in the prices of goods sold in the market, from bank accounts, telecom sector, and toll plazas. Following are the changes that you may come across: • Since Goods and … Continue reading “Changes in the Rates to be seen in the Market from October”

The goods and services tax (GST) registrations for entities mandated to collect and deduct tax at source will start from 18 September. However, the date from which tax deducted at source (TDS) or tax collected at source (TCS) is to be done will be notified later. The GST Council, at its 21st meeting in Hyderabad, … Continue reading “TDS, TCS deductors can apply for GST registration from 18 September”

GST Implementation Committee (GIC) has extended the last date for filing GSTR1, GSTR2, and GSTR3 for the month of July. The Government on Monday said the date of filing GSTR 1 has been extended to September 10 against the earlier deadline of 05th Sept 2017. Subsequently, filling of GSTR 2 and GSTR 3 has been … Continue reading “Last Date Extended for Filing GST Returns”

The Goods and Services Tax (GST) Council on August 5, 2017, had approved a proposal to change GST Compensation Law to raise the cap on the cess that can be levied on motor vehicles. The cabinet favored the ordinance that will allow the cess levied on luxury cars, Sports Utility Vehicle (SUV’s) and big cars … Continue reading “Cess Increase on Luxury Cars”

The Uttar Pradesh government will not charge the Goods and Services Tax (GST) on tickets of films of which more than 50% part has been shot in the state. The decision was taken in a Cabinet meeting presided over by the Chief Minister Yogi Adityanath here. The GST will not be charged from the viewers … Continue reading “No GST on Tickets of Films Shot 50% in Uttar Pradesh”

Businesses can start filing their first tax return under the new Goods and Services Tax GST regime as the GST Network has started the facility for return filing and paying taxes on the portal. “The window for filing GSTR-3B has opened on August 5 and is fully functional now. Taxpayers can log into their account … Continue reading “Businesses can File Returns, Pay Taxes for July on GSTN Portal”

The impact of the demonetization drive and the rollout of the goods and services tax will make it tough to deal in cash, leading to greater compliance, digitisation and widening of the tax base, Union finance minister Arun Jaitley said. The net impact of the demonetisation exercise coupled with the GST exercise… will certainly lead … Continue reading “Demonetisation and GST to Make Cash Dealings Tough”

A proposal to refund central goods and services tax on items made in formerly excise-free zones in Himachal Pradesh, Uttarakhand, and the North-East is set to be presented to cabinet. The move will benefit companies such as Cipla, Dabur, Dr. Reddy and TVS Motor that invested in those areas because of the tax break. Such … Continue reading “Proposal To Refund Central GST on Goods Made In Excise-Free Zones”

The Goods and Services Tax (GST) regime has reduced the tax rates of most commodities consumed by the weaker section of society.

Inderprastha Gas Ltd raised retail prices due to the impact of GST but the move is likely to prompt auto drivers and bus operators to demand fare hike.

Anti-Profiteering Authority, headed by a secretary-level officer, will be set up soon to keep a tab on businesses that have not passed on to consumers