GST

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

An Overview of GST- Benefits & Important Components

Overview of GST

GST stands for Goods and services tax, which replaces the former indirect tax system in India like VAT, E-Duty, Service Tax, and many other indirect taxes. Here, we have given an Overview of GST which includes the definition, its benefits and other information. The GST got an approval on the 29th of March 2017 in the … 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

GST Council will decide on oil-in-GST

GST Council will decide on oil in GST

The GST Council has noticed to earn an extra Rs 1.87 lakh crore in FY21 from the Rs 13-16/litre further cess and surcharges imposed on auto fuels in March/May 2020. In this article, we will discuss on GST Council will decide on oil-in-GST.  GST Council will decide on oil-in-GST Amid an objection for the cut … Read more

GST on Doctor Consultation

GST on Doctor Consultation

The Government of India launched the Goods & Services Tax in July 2017. The introduction of GST is the beginning of a new tax regime in India. By shifting to a single taxation rule for all goods and services, the government aims to provide uniformity and determine multiple or compounded tax rate issues. In this … Read more

GST collections February 2021 rise 7% to ₹1.13 lakh crore

GST collections February 2021

For one more time, GST collections have increased Rs 1 lakh crore mark for the fifth month in a row in February, rising 7 per cent yearly to over Rs 1.13 lakh crore, symbolising economic recovery, the finance ministry stated. In this article, we will discuss the GST collection in February 2021. GST Collection February … Read more

GST on Mask

GST On Mask

As we know, Medicines and medical kits are the life-savers and therefore it is necessary to have an idea of what rate they are taxed at as eventually, it is going to influence the end price at which they are sold. Medicines and other medical kits for human and veterinary medicine are taxed at four … Read more

 File GSTR-9 & GSTR-9C for FY 2019-20 by February 28, 2021

File GSTR-9 & GSTR-9C

The Central government has extended the deadline for filing the annual return of the Goods and Services Tax (GST) for 2019-20 by two months after businesses and tax authorities demanded respite on grounds of complexities in agreement and disruptions due to the Covid-19 pandemic, government officials said. In this article, we will discuss File GSTR-9 … Read more