GST return filing

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 technical glitches behind ITC frauds: CAG report

The Comptroller and Auditor General (CAG) of India has found that the goods and services tax (GST) system is inclined to input tax credit (ITC) frauds due to complexness in the compliance system. In this article we will discuss on GST technical glitches behind ITC frauds. GST technical glitches behind ITC frauds The Comptroller and … 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

GST on Automobile

GST on Automobile

As we know the automobile industry in India is one of the fastest and fastest-growing sectors and constitutes 27 per cent of the industrial gross domestic product (GDP) and 49 per cent of manufacturing GDP. The auto industry furnishes jobs to approximately 37 million people directly and indirectly. In this article, we will discuss GST … Read more

Panel recommends structural changes to boost GST revenues

Panel recommends structural changes to boost GST revenues

The panel’s reference to structural alterations to GST comes in the imprint of plans by the central government to merge the 12% and 18% GST slabs, an idea that has to create support among some states. In this article, we will discuss the Panel recommends structural changes to boost GST revenues. Panel recommends structural changes … Read more

GST on Banquet and Catering Services

GST on Banquet and Catering Services

Goods and Services Tax (GST) is an indirect tax. It is imposed on the supply of goods and services across the country. It has brought uniformity in the indirect tax hierarchy by replacing all the indirect taxes that existed in the pre-GST regime. In this article, we Discuss GST on Banquet and Catering Services. About GST … Read more

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

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

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