The consumer demand for face masks and hand sanitizers has increased during the year 2020 due to the COVID-19 pandemic. These products are now necessary commodities for social distancing and maintaining good hygiene. Every buyer must aware of its pricing and MRP to avoid being overcharged. In this article, we discuss the GST on sanitizer … Read more
The GSTN portal has issued the Advisory issued on Delinking of Credit/Debit Note from Tax Invoice. Let’s understand in detail – Advisory issued by GSTN GSTN has issued the formal advisory in regard to delinking of Credit/Debit Note facility which has given below for the ready reference of our readers. It was also intimated that … Read more
Big relief for composite GST taxpayers, the Institute of Chartered Accountants of India (ICAI) has written to the GST Council asking for an extension of GST annual return filing for FY19. Let’s understand in detail – Due to the COVID-19 pandemic, The Institute of Chartered Accountants of India (ICAI) has written to the GST Council … Read more
As we know Advertisement plays an indelible part of business growth and acts as a tool for communicating the products and services offered by the seller to its prospective buyers. Since there are diverse ways in which advertisement services are provided, it becomes important to understand their taxability provisions from the GST perspective. In this … Read more
The Central Board of Indirect Taxes and Customs (CBIC) have provided the new GST functionalities for TCS, Composition Taxpayers and e-commerce operators. Let’s understand in detail – Recently the goods and services network (GSTIN) portal has made some new GST functionalities for TCS. This has made some relaxation in the GST return filing procedure for … Read more
A Big relief for composite GST taxpayers, the Central Board of Indirect Taxes and Customs (CBIC) extended the deadline of GSTR-4 return filing. let’s understand in detail – Know About GSTR-4 Return GSTR-4 is a return that requires to be filed. The due date for filing Form GSTR-4 Annual Return is 30th of the month … Read more
The 41st GST council meeting was held on Friday under the leadership of honourable Finance Minister Nirmala Sitharaman. The meeting was conducted via video conferencing. The GST council meeting members discussed “GST compensation to states”. Here are key 41st GST Council Meeting Updates. Important 41th GST Council Meeting Updates GST Collection has been critically impacted … Read more
As we all know, Transportation plays a vital part in the economy, as any difficulty in transportation disrupts the entire business channel. However, as per the National Highways Authority of India, about 65% of freight and 80% of passenger traffic is transported roads. Transportation of goods by road taken by transporter or courier agency. In … Read more
The 40th GST council meeting had cleared regarding the late fee on GST return filing. We shall today discuss the minutes regarding the GST late fee. Great Relief! Businesses can file GSTR-3B without DSC during COVID-19 Lockdown Interest on Late GST return filing Taxpayers can file returns thanks inside March, April, and May 2020 by … Read more
Those traders who had filed the cancellation of their GST registration can easily restore their GSTIN in time. Recently, the 40th GST Council Meeting was held. The GST Council has given several recommendations on GST Law & Procedural changes. One of them is that time-limit to file a revocation of the canceled GST registration is … Read more