GST Meeting updates

GST Council meeting updates

In the 35st GST Council meeting on Friday extended the tenure of the National Anti-Profiteering Authority (NAA) by two years. The Council also approved imposing a penalty of up to 10 per cent on entities not passing on benefits of GST rate cuts to consumers. Briefing to reporters after the meeting of the Council, Revenue […]

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MSBL

What is PSBLoanin59 Minutes: The Ultimate Guide

The PSBLoanin59 Minutes is an initiative of the Government of India to facilitate credit for the micro, small and medium enterprises. The borrowers can access the web portal and avail a principal approval for MSME loans up to an amount of one crore within 59 minutes from five public sector banks and SIDBI. It is […]

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The GST Collection For March-19 Hits All Time New Record At Rs 1.13 Lakh Crore

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 […]

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32nd GST Council Meet

32nd GST Council meet updates: Returns under composition scheme only once in a year:FM Arun Jaitley

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 […]

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GoM wants exemption limit for MSMEs to be increased

GoM wants exemption limit for MSMEs to be increased, GST council may decide

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 […]

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GST Impact on Agricultural Sector

GST Impact on Agricultural Sector

Role of Agricultural Sector in Indian Economy Basically GST Impact on Agricultural Sector will be Neither good nor Bad in current scenario. The agricultural sector is the largest contributing sector the overall Indian GDP.

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Form GSTR-11

All About Form GSTR-11

What is Form GSTR-11? Form GSTR-11 is the return form to be prepared by the individuals who have been issued a Unique Identity Number (UIN), in order to obtain refunds under GST, for all the goods and services purchased by them in India.

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Form GSTR-9

Easy Step by Step Guide on Form GSTR-9

What is Form GSTR-9? Form GSTR-9 is an annual return to be filed once in a year by the registered taxpayers under GST including those taxpayers who are registered under composition levy scheme.

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No deadline extension to file GST returns for ITC

No deadline extension to file GST returns for ITC

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 […]

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Pranab

Impasse over GST can’t be resolved politically: Pranab Mukherjee

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 […]

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