To allow a option of uploading the profits invoices on regular monthly basis or maybe more routinely for the people filing quarterly GSTR-1, Invoice Furnishing Facility (IFF) will probably be released.
For summary of every CGST and IGST notifications, orders and circulars, check out the below posts-
India’s silicon surge is picking up speed as Yet one more participant has emerged within the scene. The HCL Group, maker of Pc hardware and application, is making ready a $300 million proposal to setup a chip assembly unit. This and even more in currently’s ETtech early morning Dispatch.
The council didn't just take up The difficulty of GST on crypto assets. resources reported that the ultimate report from your law committee is awaited.
She highlighted the good influence of GST, mentioning that article-GST, the “earnings buoyancy of states” has improved, the opportunity to obtain larger revenue with out altering the tax rate.
The Invoice aims to lower compliance load, greatly enhance transparency, and deal with excise responsibility exemptions for SEZs. Additionally, it empowers authorities to desire responsibility and introduces the idea of 'relevant individuals' from customs and GST laws.
According to the complaint, Gelvan and his associates kept up to 90 % of The cash they raised for sham charities as payment for their fundraising products and services.
43rd GST Council Assembly passed off on 28th may perhaps 2021 (Friday) at eleven A.M. by way of online video conferencing and was chaired by Union FM Nirmala Sitharaman. The Council approved the GST amnesty plan for being re-launched, the late fee was rationalised for all taxpayers, especially for smaller taxpayers and IGST is exempted on import of COVID dealing with machines and aid products up to 31st August 2021.
50th GST Council meeting came about on 11th July 2023. selection was taken to mail intimations for excessive ITC statements in GSTR-3B compared to GSTR-2B earlier mentioned a certain limit as a result of DRC-01C to seek reaction. even further, GST on on line gaming was preset at 28% on complete experience value.
The Directorate common of GST Intelligence (DGGI) has detected GST evasion of Rs one.36 lakh crore to date in the course of the current money calendar year involving “voluntary payment” of Rs fourteen,108 crores. The investigation company under merchandise and Services Tax (GST) regime has long been working on pinpointing “masterminds and syndicates” operating across the country considering that June this yr soon after getting performed an anti-evasion drive previously, it stated, incorporating that cases have already been booked employing data analysis aided by Superior technological applications.
The GST Council is likely to deliberate on different vital issues, which includes taxation on on the web gaming, an amendment to overrule retrospective tax demands and reviewing a achievable exemption for reinsurance.
A registered particular person can use kind GST PMT-09 to transfer any level of tax, desire, penalty, fee or almost every other amount of money available in the electronic dollars ledger under the Act into the Digital hard cash ledger for integrated tax, central tax, point out tax or Union territory tax or cess.
Consumers may have to shell out much more as numerous products and services will Charge larger from July eighteen onwards with the Goods and companies Tax (GST) Council approving rate hike to handle inverted duty constructions and withdrawing some exemptions.
The Karnataka governing administration on November 25 directed the regional transport authorities to cost 5 per cent usefulness fee and more info GST through the trip hailing companies on Each and every autorickshaw ride from the travellers.