Starting 1st October 2024, the Goods and Services Tax Network (GSTN) will archive data submitted before September 2017 from the GST portal. This major update affects how you do GST Return Filing. This move is aiming to streamline the portal’s operations. However, it also creates urgency for businesses who require their previous records. Why is … Read more
The introduction of GST 2.0 aims to simplify the process of GST Return Filing. Thus, you can file GST Returns more quickly and efficiently for businesses. With user-friendly interfaces and reducing the manual errors, the new GST system will ease tax compliance. What happens to GST Registration under GST 2.0? The GST Registration process is … Read more
The GoM will meet on September 25, 2024. They will be meeting to discuss key changes to the GST Structure. The meeting focuses on rationalizing GST rates by adjusting the current tax slabs, a move aimed at simplifying compliance and improving revenue collection. Proposed Changes to GST Slabs The GoM, led by Bihar Deputy Chief … Read more
A 15-digit Unique Identification Number (UIN) code is your key to navigating the Indian tax system. This alphanumeric registration number replaces the GSTIN for a select group of entities that qualify for GST exemptions. If you meet the eligibility criteria, obtaining a UIN registration number is beneficial for your business especially if you’re an entrepreneur … Read more
The PlayStation 5 Pro or PS5 Pro is announced and promises superior performances, better graphics, and a more immersive gaming experience. But, the question still remains, What is the GST on PS5 Pro? Let’s understand the concept of GST on PS5 Pro. What is the GST Rate on PS5 Pro? In India, electronic goods, including … Read more
The B2C e-invoicing implementation will be revolutionising how businesses issue invoices to customers. At present, B2B e-invoicing is mandatory, however, the GST Council is also planning to implement B2C e-invoicing on a voluntary basis. What is B2C E-Invoicing? B2C e-invoicing is the process of creating electronic invoices for purchases made by customers. In line with … Read more
Apple’s new AirPods 4 are now available in the market with new features. In India, if you buy Apple’s AirPods 4, you have to pay GST at a rate of 18% raising its overall price. But, you can also save GST on Apple AirPods 4 in India. Let’s learn how through this article. Understanding GST … Read more
The GST is applicable to life and health insurance in India also. Currently, policyholders are facing financial pressure due to GST and the government is considering reducing it. This article dives deep into the topic of GST on Life and Health Insurance along with recent updates in this sector. GST on Life Insurance For Life … Read more
The latest notice announced by the GST Council changed how the rental income from commercial property is taxed. This change is expected to increase the government’s tax revenue. However, experts say it may raise costs for tenants. After the Council’s 54th meeting on September 9, it was announced that if the property owner is not … Read more
The Indian government is now considering a new proposal regarding GST and UPI. It is considering imposing 18% GST on UPI Transactions below Rs. 2000. As you might already know, UPI Payments are free for consumers. Thus, making them a popular and easy choice for small transactions. However, now the government is reviewing the idea … Read more