GST Tax relief in the milling, pharma, education, and food sectors was much needed. As we know, The government has announced several reliefs to taxpayers. These include amnesty schemes, Mid-day Meal schemes, Tax Rates reduced on COVID-related medicines and types of equipment, and several others. These reliefs seem to be giving comfort and a ray … Read more
Knowing about GST on Transport is very important for us. The reason is Transportation is a crucial part of our economy. In this article, we will understand the GST on Transport. Besides, we will also have a look at Rates for Transport Sector under Goods and Service Tax. Know about GST As the name suggests, The … Read more
With about 3.8 million visitors daily to the GST Registration site, the Food and Beverage category is one of the fastest-growing sections, with a 28% increase in online sales from the previous year. In this article, we will discuss on Impact of GST on Fast-Moving Consumer Goods (FMCG) Sector. About FMCG Sector Fast-moving consumer goods … Read more
No GST on examination fee charged by Central/States/NBE is the latest update. It will help the students as they won’t have to pay an extra fee. The decision for the No GST on examination and GST relaxation for Mid-Day meals resulted from the council meeting held in May. Therefore, in this article, we will understand these … Read more
New Functionalities deployed in GST Portal for making the process easier for taxpayers. The GSTN says that several new features for GST stakeholders are occasionally put into practice on the GST Portal. In this article, we will also read some significant new functionalities deployed in the GST Portal. New Functionalities deployed regarding GST Registration and … Read more
Accounts and Records under GST are crucial parts for the understanding of the GST Taxation system. As we all know, The evaluation under GST focuses primarily on taxpayers’ self-assessment. Therefore, each taxpayer is obliged to self-assess the taxes payable and provide a return for specific tax periods, i.e., the reporting period. That’s why, In this … Read more
The 44th GST Council meeting was held in New Delhi on 12 June 2021, by video conference call under the chairmanship of SMT Nirmala Sitharaman, Minister of Finance and Corporate Affairs. The virtual meeting took place in order to finalize mechanisms for compensating States for the income deficit of their 2.35 lakh crore Rs in the … Read more
Recently RTI reveals CBIC Collects late fee penalties aggregate of hundred crores, which clearly signifies that taxpayers face many difficulties in timely GST return filing compliances. Now considering the complexity in GST compliances and business losses due to covid pandemic, The 43rd GST Council Meeting was held at New Delhi on 28th May 2020 announced … Read more
As we all know, taxpayers face issues in complying with statutory and regulatory compliance under Goods & Services Tax (GST). Furthermore, Taxpayers are suffering due to the second wave of the COVID-19 Crisis. So, the 43rd GST Council Meeting has released notification of different steps to reduce taxpayers’ burden. In this article, we will read … Read more
As we all know, COVID-19 second wave had many drastic impacts. The taxpayers faced a major crisis regarding the compliances under GST. To provide big relief for taxpayers, the government has announced several reliefs for taxpayers. In this article, we will read about GST Return filing extended for May 2021. GST Return Filing extended of Form … Read more