The central government has declared further flexibility to tax filers operating under the Quarterly Return Filing and Monthly Payment of QRMP) scheme of GST.In this article we will discuss on Government allows further operational flexibility. Government allows further operational flexibility The government has enabled further flexibility to tax filers operating under the Quarterly Return Filing … Read more
With effect from the 1st April 2021, it has been made necessary for a GST taxpayer, having turnover of more than Rs 5 crore in the preceding financial year, to provide 6 digits HSN Code (Harmonised System of Nomenclature Code), or as the case may be, SAC (Service Accounting Code) on the invoices published for … Read more
Ever since the Goods and Services regime was executed on July 1, 2017, the commercial tax department has seen an 85% rise in the number of taxpayers who have halted filing returns. In this article, we will discuss Non-tax filing on increase in state since GST rollout. Non-tax filing on increase in state since GST … Read more
Digital lending based on GST data can enable near the credit gap of around $250 billion for SMEs and furnish finance at shorter rates to reduce their borrowing costs, according to Vayana Network, a supply chain financing platform. In this article we will discuss on GST information improves MSME. GST information improves MSME Vayana Network … Read more
As we know the automobile industry in India is one of the fastest and fastest-growing sectors and constitutes 27 per cent of the industrial gross domestic product (GDP) and 49 per cent of manufacturing GDP. The auto industry furnishes jobs to approximately 37 million people directly and indirectly. In this article, we will discuss GST … Read more
The Central Goods and Services Tax (CGST) Act was authorized, the Punjab and Haryana High Court implied prime facie concern that Parliament was certified under the Constitution to appear with special laws on the issue. In this article, we will discuss Parliament empowered to enact special laws. Parliament empowered to enact special laws Four years … Read more
As we know GST presently has no such provision to revise or modify a return once it has been filed. While the current system for amending returns is proposed. Therefore, he has to be incredibly alert while filing his GST returns to avoid the suffering of unnecessary reconciliations. In this article, we will discuss the … Read more
As we know, Exports have been the field of focus in all strategic initiatives of the Government for more than 30 years. Now with the Make in India drive, exports continue to appreciate this special treatment because exports should not be burdened with domestic taxes. In this article, we will discuss the GST on Export … Read more
Liquidated damages has well-known term applied by the parties under a contract. Concerning the implication of indirect taxes, both in the former law and also the present GST law, there has always been an argument on the taxability of the liquidated damages, and the Government has never simplified this issue. In this article, we will … Read more
For the one more time, GST collections in January reached over Rs 1.2 lakh crore, crossing Rs 1 lakh crore targets since December, November and October last year. In this article, we will discuss on GST collection January 2021. GST Collection January 2021 The Central Government has announced the gross GST revenue collected in January … Read more