GST council increases compliance on the tax payer for the first 2 months of July and August 2017
On 18th June 2017, the GST council met for the 17th time and decided as follows
Limit for Composition Dealer increased from 50 lakhs to 75 lakhs; Tax rates reduced for 66 items.
In the 16th GST Council meeting held on June 11th, the limit for Taxable person has been increased from 50 lakhs to 75 lakhs for opting
From 5 Rates, we now have a 8 rate GST structure
In the GST council meeting held on June 3rd, rates for gold and rough diamond were fixed at 3% and 0.25% respectively. This means that under the proposed GST structure there shall be eight rate structures viz 0, 0.25, 3, 5,
PM, FM and Niti Aayog CEO give thumps up to 1st July roll out of GST
Niti Aayog CEO, Amitabh Kant has said GST will help India achieve 9 pc growth rate and will simplify India’s taxation system and help deal with tax evasion.
Six non-BJP ruled states out of seven states yet to pass GST legislation
With less than a month left for GST rollout, seven states, including West Bengal, Tamil Nadu and Jammu and Kashmir, are yet to pass their legislations required
GST Council Meeting on June 3rd – Rates for 6 items finalised, relief in input tax credit on transition announced
The GST Council, which met on June 3rd to decide the tax rate on remaining six items, has finalised all the pending rules, including those on transition and returns forms, for the implementation of the most
We have been selected as a GSP (GST Suvidha Provider) by GSTN (Goods and Services Tax Network)
(In Short GSP is an interface between GSTN and Tax Payer. The GSP will develop software applications for tax payers to migrate to GST, get new registrations, work on their accounting data to file GST returns and pay taxes) The rollout of the GST Bill will be a collective effort of the Central and State …
What is anti profiteering?
There has been a lot of talk in corporate circles about the new Anti-Profiteering provisions in the GST Law. Generally, a person who seeks or exacts exorbitant profits, especially through the sale of scarce or rationed goods is called as a profiteer. It is the same person whom we formerly called “the grafter, the extortioner, …
Registration for GST enrolment reopens on June 1st 2017.
The process to enrol taxpayers on the Goods and Services Tax Network (GSTN) portal was suspended on April 30. All tax payers who didn’t enroll themselves earlier will get an opportunity to do so when the facility will reopen for