GST return filing

Relaxation in Company GST Return Filing without DSC

GST Return Filed with EVC

In a relief to several businesses, the Central government on Tuesday said that it has allowed llp companies to verify through electronic verification code monthly GST returns filed till May 31. The recent notification reading ‘filing Relaxation in Company GST Return Filing without DSC’ is making headlines all over. In this article, we will discuss … Read more

How GST applies to flat owners, RWAs

How GST applies to flat owners

How GST applies to flat owners is the new question as there’s an important update by the government. Therefore, In this article, we will discuss the critical query of How GST applies to flat owners, RWAs and What GST is. What is GST? As the name suggests, The Goods and Services Tax (GST) is a … Read more

GST Collection April 2021

GST Collection April 2021

According to a report published by SBI ahead of the official GST revenue data release on May 1, the GST collection April 2021 figure is likely to hover around ₹1.15 lakh crore to ₹1.2 lakh crore. It is good news, considering the country has been in a continuous state of multiple lockdowns. In this article … Read more

GST revenue likely to come down

As we know the second wave of Covid-19 pandemic and possible lockdown-like restrictions in several parts of the state are likely to dent the government’s GST earnings in the new fiscal. After the general lockdown, the revenue growth was almost restored to ordinary in the last quarter of 2020-21. In this article, we will discuss … Read more

GST on Food Services & Restaurant Business

GST on Food Services

As we know that, the GST was first inaugurated in July 2017, restaurants could fall into three various rate slabs. If the restaurant did not have air conditioning, the GST indicted was 12%. For a restaurant with AC or a liquor license, 18% GST was applicable. For restaurants within five-star hotels, the GST rate was … Read more

Extend due dates of Income Tax & GST Compliance of April-2021

Extend due dates of Income Tax & GST

Adhering to tax-related compliance introduced by the Indian government is mandatory for taxpayers in India. Such compliance also impresses adhering to the due dates of GST return filing about the complete compliance calendar listed here and specified by the Indian government. The Central Board of Direct Taxes has further extended the due date for ITR … Read more

Short Analysis of Composition Scheme Under GST

As we know Composition Scheme acts as an alternative procedure for levying a tax under GST. Small businesses registered under the GST composition scheme can pay GST at a restricted rate of turnover every quarter and file quarterly GST returns. Also, Composition levy would be commonly related to small taxpayers who are supplying goods and … Read more

Decoding GST Levied On Gold Purchases

Decoding GST Levied On Gold Purchases

Gold is highly volatile in the Financial Market due to the fluctuation of its price. The Centre Government fixed the GST based on the transaction of the Gold. So, here in this article, you will get to know about the Decoding GST Levied On Gold Purchases. The decoding process will help you to buy the … Read more

Hold urgent GST meet to cut tax on key medicines, equipment

Hold urgent GST meet to cut tax on key medicines, equipment

As the country tackles with a stronger second Covid wave, all the states need the Centre to urgently convene a meeting of the Goods and Services Tax (GST) Council, which has not met for the last six months. This arrives after the chorus for rate cuts on key medicines and equipment grows louder. In this … Read more

GST rate tussle over flavoured milk

As we know Flavoured milk has found various flavours with different Authorities for Advance Rulings (AARs). While Gujarat AAR followed its counterparts in Tamil Nadu and Andhra Pradesh to hold GST at the rate of 12 per cent, the Karnataka AAR went for 5 per cent. In this article, we will discus on GST rate … Read more