The Prime Minister, Mr. Modi, for the second time, strongly advocated the progressive impact of GST on the transport sector and mentioned about an upsurge and an uplift in the efficiency [30%] of the transport sector, while addressing the nation from the Red Fort on the occasion of the 71st Independence Day, on this 15th … Read morePost GST 30% of Uplift in the Efficiency of the Transport Sector
GSTN [goods and Services Tax network] has been witnessing a steep surge in the number of new GST registrations and also experiencing overloaded traffic in terms of the migration of the tax payers from the previous era to the GST regime. Talking about the numbers, the sources from the central finance ministry revealed that … Read moreTax base widened by 25% post GST
Amidst the much chaos and turmoil wandering around GST rate slabs and other complexities which are now slowing popping up, the GST Council had its 22nd meeting under the chairmanship of the Union Minister of Finance and Corporate Affairs, Mr. Arun Jaitley in New Delhi on 6th October 2017. The declarations circled around Composition Scheme, … Read moreChanges in GST – 22nd GST Council Meeting
Today everybody is busy in decoding the law of GST so that they can remain compliant and they don’t have to pay the interest or late fees unnecessarily. However, it is easier said than practically done. The law of GST is so confusing that most of the taxpayers are committing mistakes. Let’s understand the mistake … Read moreAvoid Common Mistakes in Filing GSTR-3B
Touted as the second largest employer in the country (after agriculture), the real estate sector accounts for nearly five percent of India’s GDP (gross domestic product), projecting a potential growth of 30 percent over the next decade. Supported by a thriving corporate environment, an increasing demand for office and commercial space, a burgeoning middle-class keen … Read moreBooked an under-construction house? Read on to find out if GST will help you pinch pennies or pocket them!
CORE FIELD AMENDMENT OPTION was enabled on GST Portal (www.gst.gov.in) on 27th September’2017. Now the question arises that what all can be amended? These four major heads can be amended. Business Details Promoter/Partner Details Principal Place of Business Additional Place of Business AMENDMENTS AVAILABLE UNDER BUSINESS DETAILS: Legal Name of the Business Trade Name District … Read moreCore Field Amendment in GST
This article addressees the need of the hour that is “How to Set Off Liability in GSTR Form-3B” as still many professionals are facing problem while dealing with TAB 6:Payment of Taxes of the Form-3B. Let us first take a look at the eligibility of set-off. The input tax credit would be eligible for set off … Read moreHow to Set Off Liability in GSTR Form 3B
Though, the GST universally applies to all business entities in India, however there are certain bodies and individuals, which enjoy exemption from complying with the Goods and Services Tax. GST Unique Identification Number (UIN) is a special category of GST registration, given to foreign diplomatic missions and agencies, which are not liable to pay any … Read moreGST Unique Identification Number (UIN) – Facts You Should Know