GST applies on everyone. One must note levy of GST differ from person to person. There are two ways of levying GST. One is a Forward Charge Mechanism (FCM) or Normal Charge Mechanism in which supplier of goods and suppli...
The 50th GST Council meeting was held in Delhi on July 11, 2023 under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. It marks the completion of 50 Council meetings since t...
CBIC has issued Guidelines for the processing of applications for GST registration vide Instruction No. 03/2023-GST dated 14/06/2023 after detecting various instances of fraudulent individuals obtaining fake registr...
In today's digital era, ensuring the security of sensitive information is of paramount importance. With the increasing use of e-Way Bills and e-Invoice systems for smooth business transactions, the National Informati...
The CBIC vide Notification No. 10/2023 dated 10/05/2023 has notified the reduction in the applicability of e-invoicing threshold limit from Rs.10 Crores to Rs.5 Crores with effect from 1st August, 2023.&nb...
The CBIC has issued several notifications on 31/03/2023 pursuant to 49th GST Council Meeting. A summary of the same is as below: Notification No. 02/2023 : Late fee for GSTR-4 filed between April 1, 2023,...
Today, the 49th meeting of the GST Council took place with a focus on a range of topics pertaining to the GST. During the meeting, the Council put forth several noteworthy suggestions, encompassing areas such as GST comp...
Goods and Services Tax Network (GSTN) has implemented the much-awaited change to GSTR-3B, allowing taxpayers to report negative values in Table 4 (ITC) on the GST portal. This change was announced in an advisory...
The 2023 Union Budget presented by Finance Minister Nirmala Sitharaman included several changes to the GST Act. This is Part II of clause-by-clause analysis for the proposed amendments. In case you missed re...
The Union Budget 2023 presented by Finance Minister Nirmala Sitharaman has put forth several modifications to the GST Act. Here's a clause-by-clause analysis for the proposed amendments. Clause 128 - Comp...
