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.
GST derives its constitutional validity from Article 246A, which was introduced by the 101st Amendment, 2016 which provides both the parliament as well as states concurrent powers to make laws with respect to GST i. e. central tax (CGST) and state tax (SGST) or union territory tax (UTGST).
What are the Payments made under GST regime? Under the GST regime, where intra-state supply CGST and SGST taxes are calculated, Central GST (CGST, going into the account of the Central Government) and the State GST (SGST, going into the account of the concerned State Government).
Goods and Services Tax(GST) is considered as the biggest reforms of the Indian indirect Tax credit is one of its key features which will help in eliminating cascading effect of taxes.
Deadlines for filing returns GSTR-2, GSTR-3 moved to Nov 30, Dec 11 The government on Monday extended Deadlines for filing by a month for the filing of July GSTR-2 to month November and GSTR-3 to 11th December.
SAC codes mean? SAC codes mean Service accounting code are codes issued by CBEC to uniformly classify each service under GST. Each service has a unique Service Accounting code and these codes can be used in invoices created by you for the services you delivered. GST for service is collected in 5 slabs i.e. 0%, […]