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 CBDT has issued the notification for For filing of belated tax returns and revised return for the assessment year 2020-21, which was required to be filed on or before 31 March 2021, the extra time has now been given till 31 May 2021. In this article, we will discuss … Read more
How GST applies to flat owners is the new question as there’s an important update by the government. Therefore, In this article, we will discuss the critical query of How GST applies to flat owners, RWAs and What GST is. What is GST? As the name suggests, The Goods and Services Tax (GST) is a … Read more
As we know that, the GST was first inaugurated in July 2017, restaurants could fall into three various rate slabs. If the restaurant did not have air conditioning, the GST indicted was 12%. For a restaurant with AC or a liquor license, 18% GST was applicable. For restaurants within five-star hotels, the GST rate was … Read more
Adhering to tax-related compliance introduced by the Indian government is mandatory for taxpayers in India. Such compliance also impresses adhering to the due dates of GST return filing about the complete compliance calendar listed here and specified by the Indian government. The Central Board of Direct Taxes has further extended the due date for ITR … Read more
A taste of fizz has led to grape juice manufactured and distributed by a Tamil Nadu-based company being expelled out of the classification of ‘Fruit pulp or fruit juice-based drinks’, which attracts a lower goods and services GST at 12%. In this article, we will discuss on Carbonated grape juice. GST on Carbonated grape juice … Read more
As we know Composition Scheme acts as an alternative procedure for levying a tax under GST. Small businesses registered under the GST composition scheme can pay GST at a restricted rate of turnover every quarter and file quarterly GST returns. Also, Composition levy would be commonly related to small taxpayers who are supplying goods and … Read more
Gold is highly volatile in the Financial Market due to the fluctuation of its price. The Centre Government fixed the GST based on the transaction of the Gold. So, here in this article, you will get to know about the Decoding GST Levied On Gold Purchases. The decoding process will help you to buy the … Read more
The Chief Minister of Maharashtra has petitioned Prime Minister of India, Shri Narendra Modi to extend the Due Date of filing the GST Returns by three months due to increase in the case of COVID-19 again in Maharashtra. In this article we will discuss on Request for extension of due date of GST Returns. Request … Read more
As we know Flavoured milk has found various flavours with different Authorities for Advance Rulings (AARs). While Gujarat AAR followed its counterparts in Tamil Nadu and Andhra Pradesh to hold GST at the rate of 12 per cent, the Karnataka AAR went for 5 per cent. In this article, we will discus on GST rate … Read more