Goods and Service tax (GST) has on February 21, introduced few latest changes in GSTR-3B to make it more user friendly.

According to GST law, Every Person is required to get registration under GST law if Turnover of its business exceeds Rs. 20 Lakh (in some specified states it is Rs. 10 Lakh). The meaning of Turnover is expressly defined by GST law under Section 2 as follow: Aggregate Turnover shall include all taxable supplies, exempt … Continue reading “Meaning of Aggregate Turnover under GST Law”

The Central Government vide its notification no. 50/2017-Central Tax dated October 24, 2017, stating that late fee for filing GSTR-3B for the month of August and September will be waived off. This yet again has come as a lift for all the registered taxpayers. As per GST regime, the late fee is Rs. 100 per … Continue reading “Penalty for Late Filing GSTR-3B has been Waived”

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”