Since last year or so, the whole country is going through tumultuous patches for society as a whole. Present second wave of COVID-19 has put the resources of country at greater strain wherein the entire humanity is struggling to keep their hope float leave alone the prospects of future. The problem is increased manifolds in … Read more
Due to the Covid-19 pandemic, the central government has provided some relaxation to the taxpayers for the timeline of filing the ‘Application for Revocation of Cancellation’ has been extended to 180 days from 90 days which will be valid up to 15th June 2021. In this article we will discuss on Timeline for Revocation of … Read more
In the Covid-19 pandemic,a hike in post-GST rates to 18% from the current 15%, both the security sector and banking sector are poised to get more expensive after July 1. Impact of GST on insurance and banking will improve the premiums especially for families that pay for health, life and a car insurance. In this … Read more
The Goods and Services tax (GST) has been specified as one of most important tax reforms post-independence. It is a tax trigger, which will lead to business transformation for all important industries. In this article, we will discuss on Impact of GST on Accounting & Financial Statements. Impact of GST on Accounting There will be … Read more
With the rise of the second wave of Coronavirus, the Government of India took several steps to bring the situation to a normal condition, and still, the battle is going on. Recently, it has been observed that demand for Covid materials such as vaccines, Remdesivir medicine, and oxygen has significantly increased and most of the … Read more
The goods and services tax is the biggest milestone in the history of taxation. Earlier, various forms of taxes were put on the citizens and the distribution of taxes between the state and center was complicated. So, the concept of tax on common goods and services was introduced in the entire country to simplify the … Read more
In view of the Covid-19 pandemic, the Central Government has exempted IGST or integrated GST on import of such goods received free of cost for free distribution of Covid relief. In this article, we will discuss No GST on the Import of COVID relief products. No GST on Import of COVID relief products In view … Read more
This post deals with a subject directly related to the Covid-19 crisis. We would urge readers to read it until the end to keep themselves updated on the latest developments. GST on Imported Oxygen Concentrators Slashed On May 1, 2021, most Indians woke up hearing a piece of good news, ‘GST on Imported Oxygen Concentrators … Read more
While the country is grieving from the COVID-19 pandemic, the Government has provided great relief to the taxpayers by extending the deadlines to file various GST returns. The Government also waived off the late fee payable for the delayed filing of GSTR-3B. In this article, we will discuss on Penalty / Interest Waive off on … Read more
Due to the Covid-19 pandemic, the government has extended key compliance timelines for goods and services tax (GST) and waived late fees to ease the compliance burden which will ultimately benefit the taxpayers. In this article, we will discuss on Due date for GST Return extended under COVID Pandemic. The Due Date for GST Return … Read more