GST Collections in Sept surpassed 1.17 lakh crores. It is a 22.5 percent year-on-year increase, the fourth-highest collection since its inception on July 1, 2017, and the second-highest in the current fiscal year. The GST Collection in September indicates a successful transition of commercial activities following the second wave of the Covid-19 pandemic as well … Read more
As we all know, GST stands for Goods and Service Tax. This is a unified Indirect tax which is implemented from 1st July 2017 in India. Fundamentally, the Indirect tax is a tax levied on goods and services rather than income and profits. Furthermore, It is mandatory to have GST Registration when annual turnover exceeds … Read more
According to information available from the Bhiwandi commissioner, a man from Andheri was detained on a charge of the proprietor in tax credit fraud in unlawful business operations, such as fraudulent receipts, to claim Rs 9.95 crore in Input Tax Credits (ITC) as director of four enterprises. In this article, we will read the latest … Read more
Since GST (Goods and Service Tax) began, the government was charging a 5% tax on solar equipment. But now, the solar projects have been moved to the GST slab of 12%. GST rates hike on solar equip from 5% to 12% will have a significant impact on the solar business Furthermore, Due to these significant … Read more
The debate over the rate of goods and services tax (GST) on food products is far from done. The Ready-Made parathas, which require to be heated prior to consumption, can not be similar to chapati, roti, or Khakra and would attract GST at the rate of 18%, the GAAR (Advance Ruling Authority of Gujarat) has … Read more
The GST Council endorsed a proposal on Friday that platforms for public food supplies such as Swiggy and Zomato should collect 5% GST after getting GST Registration. The pandemic gave a boon for food supply platforms after the first lock-down and delivery of restaurants with aggregate orders such as Swiggy and Zomato up 120% of … Read more
An E-way bill refers to a document or receipt produced by a carrier having GST Registration that provides details and instructions on the delivery of the products, and the details are names of the delivery agent, destination and route, the point of origin of the delivery. In this article, we’ll learn how to Generate An … Read more
Important news for Investors as the GST & Income Tax Department may target Crypto Transactions soon. If crypto transactions are taxed, investors might need to mention them in their ITR Filing. As per the recent reports, the Finance Ministry is considering taxing crypto income through trading and crypto exchanges. Sources argue that even if it … Read more
A huge relief for the nation’s $180 billion industry of BPO (Business Process Outsourcing) and IT Companies. The GST Council on Friday released a clarification that will open up hundreds of crores in tax refunds for IT, financial services, and research and development sector firms, and eliminate the four-year-old problem that has led to large-scale … Read more
The GST (Goods and Services Tax) committee is on Friday anticipated to select either to treat back-workplace business process outsourcing corporations provided to abroad customers as exports not legally accountable for levy or a moderator service charged eighteen percent levyMore so, The verdict would be vital for the above $180-billion BPO sector that runs on … Read more