The Union finance ministry is finally ready to move ahead with the one nation-One-tax-single monthly return system for the GST, a step that will simplify the whole process of filing returns and also getting ITC.
The GST collection for March-19 crossed up-to its highest since the new system rolled-out of the nationwide sales tax. The mop-up for March rose 10.05 percent over the Mar-18 to Rs 1.13 lakh crore, according to a statement by the Ministry of Finance. That compares with the previous high of Rs 1,06,577 crore collected for […]
The GST Council meet relaxed the tax exemption limit to Rs 40 lakh from the earlier cap of Rs 20 lakh during its 32nd meeting on today. GST Council Meet key Updates:- A committee has been set up to consider real estate GST rates, a consensus is yet to be achieved, says FM Arun Jaitley. The […]
NEW DELHI: The staffing industry has reached out to the GST ( Goods and Services Tax ) Council to seek ITC (input tax credit) on insurance services procured for its employees. Modi, who is a member of the panel on MSME relief, said the GoM was unanimous that the exemption limit for the MSMEs which […]
NEW DELHI: The due date for filing of return for availing input tax credit for financial year 2017-18 is Saturday as the government has turned down corporate India’s plea for an extension. The finance ministry, however, clarified that filing of details by suppliers and the facility to view it did not impact taxpayers’ ability to […]
NEW DELHI: Former President Pranab Mukherjee Friday said that the impasse over the Goods and Services Tax (GST) cannot be resolved politically and the supreme court will have to be involved at some key points. Delivering the 16th V K Krishna Menon Memorial Lecture on the topic ‘Sovereignty, International Law and Diplomacy’ here, Mukherjee replied […]