GST is known as one of the most beneficial revolutions for the Indian economy as per the Indian Government. It has subsumed multiple indirect taxes such as excise, VAT, and service tax. This article discusses the benefits of GST Registration under law. What is GST? GST stands for Goods and Services Tax. It is imposed … Read more
A massive relaxation for taxpayers as the government has announced a major update. As per the latest update, GSTR 9 and 9A GST Return Filing relaxations have been announced. It was done on the recommendations of 47th GST Council Meeting. The 47th GST Council meeting, held in Chandigarh on 28th and 29th June decided to … Read more
An important update for taxpayers and businesses as CBIC has notified new GST Rate Changes. These rate changes were recommended by the GST Council. The 47th GST Council Meeting was held in Chandigarh for two days i.e. 8th and 29th of June 2022. The GST Council Meeting announced several new changes and one of the … Read more
India’s garment industry is among the oldest and biggest contributors to the nation’s economic growth in terms of GDP, employment, and export promotion. Both skilled and unskilled employees are employed in the textile industry, one of the nation’s oldest and second-largest manufacturing sectors. As a result, businesses must understand about GST on Apparel, Clothing and … Read more
An important update for taxpayers as GSTR-3 GST Return Filing can be now revised. The change will lessen the problem of phony invoicing, in which sellers report suppressed sales on GSTR-3B to reduce GST payment while reporting greater sales on GSTR-1 to allow buyers to claim input tax credit. This article discusses all the important … Read more
The GST Council has suggested numerous significant modifications and reforms to GST rates for the supply of goods and services in addition to GST laws and procedures. The guidelines on GST rates will take effect from July 18, 2022 as well as those that relate to GST procedure and law will be in effect from … Read more
In a move that could help those in the unorganized sector The GST Council has decided to give a massive relief to businesses. The GST Council has decided to allow small E-Commerce Sellers to not have GST registration or apply for composition scheme. This means GST Registration is now not mandatory for some small businesses … Read more
However, as per the recent judgment from the Madras High Court, GST Registration can not be canceled for non-filing of GST Returns. This article guides you all about the latest news of GST Registration can not be canceled for non-filing of GST Returns. What is GST Cancelation? GST Cancelation simply means that the taxpayer will … Read more
Smt. Nirmala Sitharaman, Union Minister for Finance & Corporate Affairs, led the 47th GST Council meeting in Chandigarh. Along with top officials from the Ministry of Finance and the States/UTs, Union Minister of State for Finance Shri Pankaj Choudhary also attended the meeting. The council members talked on a variety of GST-related issues, such as … Read more
GST Return Filing is the online procedure through which tax payers declare their taxable turnover, determine and pay net tax liability. It is mandatory for every business having GST registration to file their GST returns as per the nature of business. There are 13 main GST returns. The GST-3B Return is among the most important … Read more