GST Collections in Sept surpassed 1.17 lakh crores. It is a 22.5 percent year-on-year increase, the fourth-highest collection since its inception on July 1, 2017, and the second-highest in the current fiscal year. The GST Collection in September indicates a successful transition of commercial activities following the second wave of the Covid-19 pandemic as well … Read more
According to information available from the Bhiwandi commissioner, a man from Andheri was detained on a charge of the proprietor in tax credit fraud in unlawful business operations, such as fraudulent receipts, to claim Rs 9.95 crore in Input Tax Credits (ITC) as director of four enterprises. In this article, we will read the latest … Read more
The CBIC (Central Board of indirect taxes and customs) directed the GST ( Goods or service tax) networks to waive off delayed fees or interest for a single day owing to technical glitches during the GSTR-3B filing return. The article discusses the latest news on GST late fee may waive off on delayed filing of … Read more
A major relief for taxpayers having GST Registration. The Finance Minister Nirmala Sitharaman announced relaxation regarding a major GST Return Filing form. In this article, we will read about Relaxations in GST Return Filing related to GST ITC-04 Form. 45th GST Council Meeting The 45th GST Council meeting was held physically for the first time … Read more
An E-way bill refers to a document or receipt produced by a carrier having GST Registration that provides details and instructions on the delivery of the products, and the details are names of the delivery agent, destination and route, the point of origin of the delivery. In this article, we’ll learn how to Generate An … Read more
Important news for Investors as the GST & Income Tax Department may target Crypto Transactions soon. If crypto transactions are taxed, investors might need to mention them in their ITR Filing. As per the recent reports, the Finance Ministry is considering taxing crypto income through trading and crypto exchanges. Sources argue that even if it … Read more
A huge relief for the nation’s $180 billion industry of BPO (Business Process Outsourcing) and IT Companies. The GST Council on Friday released a clarification that will open up hundreds of crores in tax refunds for IT, financial services, and research and development sector firms, and eliminate the four-year-old problem that has led to large-scale … Read more
The GST (Goods and Services Tax) committee is on Friday anticipated to select either to treat back-workplace business process outsourcing corporations provided to abroad customers as exports not legally accountable for levy or a moderator service charged eighteen percent levyMore so, The verdict would be vital for the above $180-billion BPO sector that runs on … Read more
On September 17, 2021, Finance Minister Nirmala Sitharaman chaired the first in-person GST Council meeting since the coronavirus pandemic began. The 45th meeting of the GST Council was conducted in Lucknow. The council members discussed a number of GST topics, including state compensation and revisions to GST rates on Covid essentials, whether or not the … Read more
Daily E-way bill generation for goods transportation under the Goods and Services Tax (GST) system came in at 20.97 lakh in the first five days of September. This is 7.5% higher than the daily average for the first Eight days of August. Thus, we can see the indications of continued momentum in Economic recovery. In … Read more