GST return filing

GST on Automobile

GST on Automobile

As we know the automobile industry in India is one of the fastest and fastest-growing sectors and constitutes 27 per cent of the industrial gross domestic product (GDP) and 49 per cent of manufacturing GDP. The auto industry furnishes jobs to approximately 37 million people directly and indirectly. In this article, we will discuss GST … Read more

Panel recommends structural changes to boost GST revenues

Panel recommends structural changes to boost GST revenues

The panel’s reference to structural alterations to GST comes in the imprint of plans by the central government to merge the 12% and 18% GST slabs, an idea that has to create support among some states. In this article, we will discuss the Panel recommends structural changes to boost GST revenues. Panel recommends structural changes … Read more

Exemptions of Services under GST

Exemptions of Services under GST

GST was introduced because there was a growing need to replace innumerable indirect taxes in India, such as excise duties, service taxes, VAT, etc. The GST Act came into effect on the 1st of July 2017, This post will highlight some of the broader aspects related to GST exemption and examples of services that are exempt … Read more

Changes in GSTR-1 applicable from 1st April 2021

Panel recommends structural changes to boost GST revenues

The central government has declared the impending alterations in GSTR-1 Table-12 on GST Portal. The government has instructed that from 1st April onwards, it will become compulsary to report minimum 4 digit or 6 digits of HSN (Harmonized System of Nomenclature) Code in Table-12 of GSTR-1 and in Tax Invoice. In this article, we will … Read more

Parliament empowered to enact special laws on GST: HC

The Central Goods and Services Tax (CGST) Act was authorized, the Punjab and Haryana High Court implied prime facie concern that Parliament was certified under the Constitution to appear with special laws on the issue. In this article, we will discuss Parliament empowered to enact special laws. Parliament empowered to enact special laws Four years … Read more

GST on Banquet and Catering Services

GST on Banquet and Catering Services

Goods and Services Tax (GST) is an indirect tax. It is imposed on the supply of goods and services across the country. It has brought uniformity in the indirect tax hierarchy by replacing all the indirect taxes that existed in the pre-GST regime. In this article, we Discuss GST on Banquet and Catering Services. About GST … Read more

Mistakes to avoid in Charging or Reversing of GST

Mistakes to avoid in Charging or Reversing of GST

As we know GST presently has no such provision to revise or modify a return once it has been filed. While the current system for amending returns is proposed. Therefore, he has to be incredibly alert while filing his GST returns to avoid the suffering of unnecessary reconciliations. In this article, we will discuss the … Read more

GST Compensation Shortfall released to States reaches Rs. 1.06 lakh crore

GST compensation shortfall released

The Ministry of Finance has announced the 19th weekly instalment of Rs. 2,104 crore to the States to engage the GST compensation shortfall. Out of this, an amount of Rs. 2,103.95 crore has been acquitted to 7 States and a proportion of Rs. 0.05 crore has released to the Union Territory of Puducherry. In this … Read more

GST on Fashion Designing Services

GST on fashion designing services

Goods & Services Tax(GST), launched in July 2017, is the new tax regime. Introducing a single tax system government introduced GST to replace many indirect taxes in India, such as the excise duty, VAT, services tax, etc. In this article, we will discuss GST on fashion designing services, and it’s SAC codes. Before diving deep … Read more

CBIC Issues Deadline- File your Return to Avoid a Late fee and Interest

CBIC Issues Deadline

The Central Board of Indirect Taxes & Customs has issued an alert for taxpayers. The alert is for various divisions of taxpayers who have not filed their taxes for February. In this article, we will discuss the CBIC Issues Deadline for file GST Return filing. CBIC Issues Deadline The Central Board of Indirect Taxes & … Read more