The Central Board of Indirect Taxes & Customs (CBIC) initiated Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme under Goods and Services Tax (GST) to assist small taxpayers whose turnover is less than Rs.5 crores. The QRMP scheme enables the taxpayers to file GSTR-3B on a quarterly basis and pay tax every month. … Read more
The government releases the notification for the GST return forms details which are required to be filed according to the due dates for GSTR3-B for December 2020 under GST notification. In this article, we will discuss the notification on Due dates for filing GSTR-3B. Due Dates for filing GSTR-3B The due date for quarterly GST Return … Read more
Vastly against the declared spirit of GST as Good & Simple Tax, the GST has become a “colonial taxation system” quite away from the ground certainties of the business conducted in India. In this article, we will discuss on how GST has Become Colonial Taxation System in India. GST has Become Colonial Taxation System The … Read more
The government releases the GST return forms details which are mandated to be filed according to the due dates for quarterly filing of Goods and Services Tax Returns for the third quarter of 2020 under GST notification. In this article, we will discuss the notification on GSTR-1 Due Date October December 2020. GSTR-1 Due Date … Read more
The Micro, small and medium enterprises (MSMEs) do not need to pay minimum 1% Goods and Services Tax (GST) liabilities in cash as businesses with an annual turnover of less than Rs 6 crore are spared from the new rule. In this article, we will discuss the GST rule is not applicable for MSME. GST … Read more
In a relief to taxpayers, the government on Wednesday extended compliance deadlines for income tax, goods and services Tax Vivad se Vishwas direct tax dispute resolution scheme and GST annual Return in view of the challenges arising due to the COVID-19 pandemic. In this article, we will discuss the due date extended For ITR, Vivad … Read more
The CBIC vide notification dated 22 December 2020 has published the Central Goods and Services Tax (Fourteenth Amendment) Rules, 2020. In this article, we will discuss the CGST Fourteenth Amendment Rules in brief. CBIC Notification on Fourteenth Amendment Rules, 2020 The CBIC vide notification dated 22 December 2020 has announced the Central Goods and Services … Read more
In a move to ease the pressure on small taxpayers, the Central Government has decided to introduce Far-reaching new amendments have been made in the CGST Rule, Vide Notification No 94/2020- Central Tax with the purported purpose to tackle the menace of fake invoicing. In this article, we will discuss on Important GST changes applicable … Read more
CBIC has published certain modifications to the Goods and Services Tax (GST) Rules, carrying in stringent circumstances for getting GST registration as well as for businesses to settle GST liability using the input tax credit. Let’s discuss the notification on GST Liability. CBIC Notification for GST Liability Firms with a monthly turnover of overall Rs … Read more
CBIC has come up with a new scheme for small taxpayers having an impact turnover of up to 5 crores. This scheme will permit small taxpayers to file their returns on a quarterly basis and make their payments on a monthly basis. This scheme has an accurate to ease the tax compliance for the small taxpayers. … Read more