GST

Get ready to pay for Ready-to-eat Popcorn 18% GST!

Popcorn 18% GST

Now, you will need to pay for ready-to-eat Popcorn 18% GST. The Gujarat Bench of the Authority of Advance Ruling (AAR) has stated that the rate of the GST on popcorn in India should now be raised to from 5% to 18%. Let us understand this new concept GST on popcorn in India.   Authority … Read more

Overseas Sale and Purchase of Goods liable to GST

GST Overseas Sale and Purchase of Goods

GST Authority has now said that now overseas sale and purchase of Goods is subject to GST. It is observed that domestic organizations buy goods from foreign countries and sell to other countries. Now those firms who are into export business will have to pay GST on relevant transactions.  Even if the firm says that … Read more

5 Key Tax reliefs while COVID-19 Lockdown

5 tax reliefs

The government has given certain tax reliefs to the taxpayers during COVID-19 Lockdown. The COVID-19 pandemic has an adverse impact all over the globe and sent economies spinning. Indian government is doing its best to revive the economies and has provided some relaxations as regards ITR filing and GST return filing. Here are those key … Read more

New GST Registration Process slows down due to Lockdown

GST registration delay

With the spread of the coronavirus, GST registration is facing huge delays. Obtaining a new GSTIN has become a bit difficult due to the COVID-19 lockdown.   Delay in New GST Registration Process due to the lockdown New GST registration has been getting delayed to an extent of 60 days and if the situation gets … Read more

Interest on PPF, Savings Bank Deposit crucial for GST registration

Interest on PPF and gst

The most recent GST update is that as per the new criteria, Interest on PPF and Savings Bank Deposit shall be accounted for deciding threshold for GST registration. Let us understand this update in detail.   Role of Interest on PPF, Savings Bank Deposit in GST registration The value of some of the non-taxable incomes … Read more

Now Traders can Restore their Cancelled GST Registration

Restore Canceled GST Registration

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

Karnataka Government Clarifies GST on Roti and Paratha

gst on roti paratha

Have you ever thought how much GST on Roti and Paratha is there? The Karnataka Government has recently given ruling regarding the same. In the view of the Karnataka Government, the Rotis and Parathas that people order online for their meals must be subject to different GST rates, as they are 2 distinct kinds of … Read more

Know the Key 40th GST Council Meeting Updates

40th GST council meeting updates

The 40th GST council meeting was held on Friday under the leadership of FM Nirmala Sitharaman. Here are key 40th GST Council Meeting Updates. The meeting was conducted via video conferencing.   Important 40th GST Council Meeting Updates The GST Council has given several recommendations on GST Law & Procedures changes. Here are the key … Read more

Now NIL GST Return Filing Easier than Ever!

NIL GST Return Filing Easier than Ever

The GST department has given a major relief to taxpayers by making GST Return Filing easier like never before! The tax department has allowed them to file NIL GSTR-3B Return easily through SMS. This is indeed a great relaxation for the 22 lakh taxpayers having GST registration who earlier had to log in to the … Read more

GST Exempt on PPE kits: Pros and Cons

gst exempt ppe kit

The Government has exempt GST on PPE kits, and this has both negative & positive sides. As we all know the Coronavirus pandemic is unceasingly growing and no vaccine has been developed as yet. One of the essential commodities during this time is the PPE kit. The government has exempt GST on PPE kits. However, … Read more