The 32nd GST Council Meeting was held today on 10th January, 2019 in New Delhi. This meeting was chaired by the Finance Minister of India, Arun Jaitley. Many decisions favorable to businesses were taken in the meeting. However, the key highlight of the meeting was increment in the tax exemption limit for businesses. The tax…
GST Council had its 26th GST Council (Goods & Services Tax) meeting held today under the chairmanship of the Union Minister of Finance and Corporate Affairs, Mr. Arun Jaitley on 10th March 2018 held in New Delhi. In today’s meeting, the GST Council has decided to extend the existing system of GST return filing with 3 more months, precisely…
GST Council had its 24th GST Council meeting held today through video-conference under the chairmanship of the Union Minister of Finance and Corporate Affairs, Mr. Arun Jaitley on 16th Decemeber 2017. Under Goods and Services Tax (GST) rules, ferrying goods worth more than Rs 50,000 within or outside a state will require securing an electronic-way or e-way bill…
To give you a ready reckoner, here’s an exclusively crafted, Impact Analysis based on recent announcements made at 23rd GST Council Meeting. Index Changes in Composition Scheme Changes in GSTR compliance 3. Others GSTR filing dates Impact on small businesses Impact on Service Providers Impact on Exporters Impact on Composition Scheme Impact on RCM Impact on advance receipts For businesses…
Goods and Services Tax, which actually is primarily aimed to boon the businesses, economy and government, is experiencing bumpy rides, due to the ineffectiveness of the Goods and Service Tax Network. The resultant is a mentally and technically stressed trader’s community with fuming intentions. The national body of the traders, CAIT [Confederation of All India…
A potential glitch in the GST return filing process has caused piling up of hundreds of crores rupees with the government, which actually should be credited to the organizations in respect of their Input Tax Credit. The missing column of carrying forward of ITC [of the pre GST era] in the form GSTR-3B is causing…
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,…