Now this time government is very concern of transparency in new tax regime and taking significant action against any type of alleged transaction.

Business with turnover up to Rs. 1.5 Crore can now file their Goods and Services Tax (GST) Returns for the months of July-September till January 10, 2018

The Goods and Services Tax (GST) Council to acknowledge merging the triplicate GST Return forms to assuage the procedure of filing returns.

Filing Goods and Service Tax Returns-1 (GSTR-1) GSTR-1 to be filed by the taxpayer with annual aggregate turnover up to Rs. 1.5 Crore by following dates: Period Date July- September 31ST December 2017 October-December 15th February 2017 January – March 30th April 2017   GSTR-1 to be filed by the taxpayer with annual aggregate turnover more than … Continue reading “Revised late filing penalty and last date to file GSTR-3B and GSTR-1”

From this week, exporters who paid Goods and Services Tax (GST) can claim for refunds for the month of August and September. As per Chief Executive, GST Network (GSTN) will launch separate online application this week for claiming Integrated GST (IGST) would be made available from this week. This app is developed wherein exporters can … Continue reading “Exporters who paid GST can claim for Refund This Week”

Payments Exempted under Reverse Charge Mechanism Exempts payment of tax under reverse charge basis in terms of section 9(4) of the CGST Act, 2017, section 5(4) of the IGST Act, 2017 & section 7(4) of the UTGST Act, 2017 till 31.03.2017. Composition Scheme The composition scheme threashold has been increased to 1 crore for taxpayers … Continue reading “Notifications Passed in Relation to 22nd GST Council Meeting”

About 70% of the assessees under the Goods and Services Tax (GST) had filed detailed sales returns for July on Tuesday, as it was the official deadline. No further extension was given as earlier the GST filing deadline had been extended twice earlier. About 4.59 million entities of the eligible 6.5 million filed the Goods and … Continue reading “Only 70% filed accurate GST Returns for July”

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”