An important update for businesses registered under GST. The government has recently announced the updates amending the E-Invoice rules. This initiative will be an important update under the GST regime and it will cover more businesses under E-Invoicing. Let us understand the latest update of GST E-Invoice mandate on business cross ₹10 crore turnover. What … Read more
The 47th GST council meeting has approved a goods and service tax at a rate of 5% on several basic and necessary goods, such as pulses, rice, cereals, etc. when they are delivered as “pre-packaged and labeled” goods. From July 18, 2022, these modifications are in effect. The imposition of GST on necessities like pulses, … Read more
Good news for foreign tourists. As part of a drive to execute a provision that is in the legislation, the government will shortly launch a pilot scheme to refund goods and services tax (GST) paid by foreign visitors to India. Thus, Foriegn tourists may soon get a GST Refund for local shopping in India through … Read more
An important for companies and LLPs as MCA is launching a new version of its portal soon. It is expected that the new MCA Portal will be launched soon. Now, the MCA has also updated New ROC Filing forms launching on MCA21 V3 soon. This article will give you important information about MCA21 V3 and … Read more
An important update for all of us as the government has now implemented changes to the residential rental property taxation. Starting from 18th July 2022 the dynamics of renting residential property has undergone a major change. The decision to change the taxation system on residential rental property in India was taken in the 47th GST … Read more
Cryptocurrencies as a digital asset are becoming popular every day in India. Till now, the government has not made cryptocurrencies legal. However, various tax rules and regulations have been made. This article will guide you all the latest updates about TDS and Income Tax on Crypto and Virtual Assets. What is Cryptocurrency? Cryptocurrency is the … 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
A major relief for taxpayers as an important GST Return Filing deadline has been extended. The latest news is that CMP-08 GST Return Due date for quarter 1 Financial Year 2022-23 deadline has been extended. This article will guide you about the latest news as CMP-08 GST Return due date has been extended. What is … 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
There is a significant relaxation for LLPs as the LLP annual return form-11’s due date has been extended. LLP annual return form 11 is a crucial return that LLPs must submit each year. The announcement of the due date extension without having to pay an additional fee is a chance for all businesses with LLP … Read more