GST Return filing in India

GST Return filing late fee upper limit reduced

GST Return filing late fee upper limit reduced

Recently RTI reveals CBIC Collects late fee penalties aggregate of hundred crores, which clearly signifies that taxpayers face many difficulties in timely GST return filing compliances. Now considering the complexity in GST compliances and business losses due to covid pandemic, The 43rd GST Council Meeting was held at New Delhi on 28th May 2020 announced … Read more

GST Return Filing extended for May 2021

GST Return filing extended for May 2021

As we all know, COVID-19 second wave had many drastic impacts. The taxpayers faced a major crisis regarding the compliances under GST. To provide big relief for taxpayers, the government has announced several reliefs for taxpayers. In this article, we will read about GST Return filing extended for May 2021. GST Return Filing extended of Form … Read more

GST Late Fee Reduced on GST Late Return filing : New Amnesty Scheme 

GST Late Fee Reduced on GST Late Return filing New Amnesty Scheme 

After a long wait and a delay in GST return filing caused by complexity in GST return filing compliances, GST Council has capped the late fees on GST return filing in the 43rd GST Council Meeting which was held online. It is the first meeting of the GST Council in the financial year 2021-22. In this … Read more

GST Rates Reduced in 43rd GST Council Meeting

GST Rates Reduced in 43rd GST Council Meeting

The 43rd meeting of the GST Council was mainly aimed at offering relief to the taxpayers and patients suffering from Coronavirus Pandemic. The meeting of the GST Council in Delhi took place on 28 May 2020, chaired by Smt. Nirmala Sitharaman, Minister of Finance of the Union. Video conferences were held, and multiple reliefs were presented … Read more

GST Council likely to declared an amnesty on delayed gst return filing

GST Council likely to declared an amnesty on delayed returns

In what may bring further huge relief to businesses affected by Coronavirus, the GST Council is likely to announce an amnesty scheme. The GST council is meeting after the lockdown has been ordered about the amnesty scheme. This lockdown has influenced state authority GST interests with various reposting dramatic falls in 80 to 90 % … 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 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

Carbonated grape juice to face 28% GST, rules AAAR

A taste of fizz has led to grape juice manufactured and distributed by a Tamil Nadu-based company being expelled out of the classification of ‘Fruit pulp or fruit juice-based drinks’, which attracts a lower goods and services GST at 12%. In this article, we will discuss on Carbonated grape juice. GST on Carbonated grape juice … 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

Maharashtra CM request for extension of due date of GST Returns

Monthly GST Receipts Set To Be Highest In March

The Chief Minister of Maharashtra has petitioned Prime Minister of India, Shri Narendra Modi to extend the Due Date of filing the GST Returns by three months due to increase in the case of COVID-19 again in Maharashtra. In this article we will discuss on Request for extension of due date of GST Returns. Request … Read more