Automobile industry

Budget 2018: Automobile Industry want only 2 GST rates for passenger vehicles

New Delhi:- Automobile industry body SIAM is seeking two tax rates for passenger vehicles under the GST regime instead of multiple rates levied currently, as part of its wish list for the upcoming budget. The industry body has also sought from Finance Minister Arun Jaitley a special tax rate of 12 % for electric and […]

Continue Reading
TRAN 2

Easy guide for filing Form GST TRAN 2 form

Introduction of Transition Forms 2 In order for claim Input Tax Credit, you must have to submit your ITC as per to the last tax rules and then claim it under GST. For that, you have to file your TRAN  1 / TRAN  2 form.

Continue Reading
ITC04

Input Credit on Job Work and ITC-04

Know About Input Credit on Job Work GST is implemented in lower than 4 months. so there is a large number of issues and doubts are not resolved yet. One of the major bills which create so many troubling for manufacturing industry is called Input credit on job work. the Main manufacturer company forward goods […]

Continue Reading
Petroleum Products

Govt Ready to include petroleum products under GST: FM Arun Jaitley

New Delhi: Union Finance Minister Arun Jaitley said on Tuesday that the Central government is prepared to bring petroleum products like petrol, diesel, and LPG under the ambit of Goods and Services Tax (GST) but only after building a consensus with states.

Continue Reading

GSTN Allows Taxpayers for filing Monthly,Quarterly of GSTR-1

  New Delhi:-  Dec 18 (PTI) Adding on to the new functionalities introduced on the Goods and Services Tax Network (GSTN), the IT backbone of the new tax regime, said it has put a new function on its portal to allow taxpayers choose the frequency of filing GSTR-1 form on monthly or quarterly basis.

Continue Reading
HC relief on transitional GST

After Delhi HC relief on transitional GST

“Therefore, the press release nudges the businesses to carefully look at their claims and revise it if needed. Large claims would most likely be scrutinized by the authorities in next few months,” says PwC’s Jain.

Continue Reading
Credit note

Credit Note Under GST

What are Credit Notes? Similar to the debit notes, credit notes are issued there will be a negative impact on your accounting balance of goods or services supplied.

Continue Reading
Debit Note

Debit Note Under GST

What is a Debit Note? A debit note serves the purpose of accounting adjustment to deliver the correct amount of value and tax for any invoice issued in earlier periods.

Continue Reading

GST Portal Updates

Saving and tracking of Refund Application Application form can be saved at any stage of completion, for a maximum time period of 15 days. If the same is not submitted within 15 days the saved draft will be purged from the GST Portal.

Continue Reading
e-bill

Now preparing for Stringent provisions of GST, meeting GST Council to implement e-bill

New Delhi:- After giving various relief to the common people and businessmen in GST before the Gujarat assembly elections, the government is now preparing to implement stringent provisions of the commodity and service tax law.  

Continue Reading