GST Registartion

Exempt Covid drugs from GST, transfer Rs 6k to eligible

Exempt Covid drugs from GST

Congress interim president has written a letter to the Prime Minister and asked him to exempt GST from the medicines and equipment compelled for Covid-19 treatment and Rs 6,000 should be transferred every month in the accounts of those who are eligible. In this article, we will discuss on Exempt Covid drugs from GST. Exempt … Read more

Impact Of GST Regime On Common Man

As we know, GST, also named one nation one tax, is an indirect tax that is levied on almost all goods and services. It has a towering presence in the taxation system of India. To date, nearly 160 countries have designed and followed the GST regime. In this article we will discuss on Impact Of … Read more

Natural gas, jet fuel may come under GST

Due Date for GST Return extended

The matter has been inflated by the prime leadership, members of parliament (MPs) and the industry, a proposal to levy GST on petroleum commodities and its dividend implications for the Centre and states would be worked out and placed before the GST Council soon, which will take an ultimate call on this matter, they said … Read more

GST Audit for FY 2019-20: Takeaways for Filing GST Annual Return

As we know a businessman having a turnover of more than 2 crores for FY for filing GST Annual Return. Taxpayers who have an annual turnover of additional than 2 crores in a year have to fill GSTR 9C form along with reconciliation statements and certification of audit in every financial year. In this article, … Read more

Government allows further operational flexibility to GST filers

Government allows further operational flexibility

The central government has declared further flexibility to tax filers operating under the Quarterly Return Filing and Monthly Payment of QRMP) scheme of GST.In this article we will discuss on Government allows further operational flexibility. Government allows further operational flexibility The government has enabled further flexibility to tax filers operating under the Quarterly Return Filing … Read more

GST on fuel: A price vs revenue trade-off

GST on fuel

The Central government has declared the new notification on Bringing petrol and diesel under GST will not lower fuel oil prices by itself, unless both Union and state governments are inclined to take deep revenue cuts. In this article, we will discuss GST on Fuel and its significance. Know About GSTĀ  GST is an indirect … Read more

GST collections March 2021 at nearly Rs 1.24 trillion, an all-time high

At almost Rs 1.24 trillion, the GST revenue collections in March 2021 were the highest since the tax system’s introduction in July 2017, government explained. Also, the collections were up 27 per cent when compared with the year-ago period. In this article, we will discuss on GST collections March 2021. GST Collections March 2021 GST … Read more

HSN Code / SAC mandatory on GST Tax Invoices from 1st April 2021

HSN Code & SAC mandatory on GST Tax Invoices

With effect from the 1st April 2021, it has been made necessary for a GST taxpayer, having turnover of more than Rs 5 crore in the preceding financial year, to provide 6 digits HSN Code (Harmonised System of Nomenclature Code), or as the case may be, SAC (Service Accounting Code) on the invoices published for … Read more

Lending based on GST information improves MSME access to credit

Due Date for GST Return extended

Digital lending based on GST data can enable near the credit gap of around $250 billion for SMEs and furnish finance at shorter rates to reduce their borrowing costs, according to Vayana Network, a supply chain financing platform. In this article we will discuss on GST information improves MSME. GST information improves MSME Vayana Network … Read more

GST collections top Rs 1 lakh Cr for 5 straight months since Oct 2020: MoS Finance

GST collections top Rs 1 lakh Cr for 5 straight months since Oct 2020: MoS Finance

The Central Government has announced the notification on Increased economic activities have resulted in bigger GST collection which stood above Rs 1 lakh crore for five months in a row since October 2020, Minister of State for Finance and Corporate Affairs. In this article, we will discuss GST collections top Rs 1 lakh Cr for … Read more