GSTR filing

GST Tax Rate reduced on COVID-related medicines and equipments

GST Tax Rate reduced on COVID-related medicines and equipments

The 44th GST Council meeting was held in New Delhi on 12 June 2021, by video conference call under the chairmanship of SMT Nirmala Sitharaman, Minister of Finance and Corporate Affairs. The virtual meeting took place in order to finalize mechanisms for compensating States for the income deficit of their 2.35 lakh crore Rs in the … Read more

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

COVID19 related relief measures for GST taxpayers

COVID-19 related relief measures for GST taxpayers

As we all know, taxpayers face issues in complying with statutory and regulatory compliance under Goods & Services Tax (GST). Furthermore, Taxpayers are suffering due to the second wave of the COVID-19 Crisis. So, the 43rd GST Council Meeting has released notification of different steps to reduce taxpayers’ burden. In this article, we will read … 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

Concept of Composite and Mixed Supply under GST

Concept of Composite and Mixed Supply under GST

Composite and Mixed Supply under GST is a new concept that is used to make a smooth tax process. However, Composite Supply is more or less similar to the bundle’s service enclosed in the Service Tax law. But, mixed supply is completely a new concept and there is a small margin of difference between composite … Read more