The Goods and Services Tax (GST) Council to acknowledge merging the triplicate GST Return forms to assuage the procedure of filing returns.
If you are aware of any firm who is raising prices after reduction in Goods and Services Tax (GST) or Recently, for filing such complaints the government has notified a format. As per the experts, filing an anti-profiteering complaint is a troublesome task for the people in the streets. The format requires details on input … Continue reading “Filing Complaints for Anti-Profiteering is a Troublesome Task”
Indian Oil Corporation (IOC) is seeing the impact of Goods and Services Tax (GST). Nearly Rs. 4,200 crore as they would not be able to claim input tax credit (ITC) for automotive fuels that fall outside GST. ITC allows an entity to reduce the tax on outputs by the same amount already paid as a tax … Continue reading “Under GST regime Indian Oil to take 4,200 Crore Hit”
With time government is trying to provide relief to consumers by slashing Goods and Services Tax (GST) rates. It is therefore inevitable to understand or have a brief about anti-profiteering rules under GST. The substructure of anti-profiteering in the GST rules is to reassure that any reduction in GST rate and associated with input tax … Continue reading “Rules of Anti-profiteering under GST by Next Month”
The government may review the pattern of monthly GST (Goods and Services Tax) Filing every month under GST regime. The main idea behind the same will be to provide some ease to the taxpayers. Currently, the businesses have to file returns as GSTR-1, GSTR-2, and GSTR-3 for every month. The forms with outward supplies detail … Continue reading “Monthly GST Filing process may be reviewed by the Government”
With reference to twitter handle of the GoI for queries on Goods and Services Tax (GST), the due date has been extended for filing GST Input Tax Credit (ITC)-04 for details of goods/capital goods sent to job worker and received back. The notification for the same will be issued in due course. (ITC)-04 is required … Continue reading “Input Tax Credit (ITC)-04 Due Date has been Extended”
To clear some of the ambiguities created by the implementation of Goods and Services Tax (GST), the government has been regularly coming out with clarifications and notifications. Whether the resident welfare associations (RWAs) come under the ambit of GST, is one such issue. To bring in more clarity pertaining to this issue, in a notification … Continue reading “Services Provided by Smaller RWAs are Exempt From GST”