The concept of Advance Ruling was introduced by the Government to provide detailed clarification on the complex provisions of GST. Any taxpayer having doubts in understanding any provisions of GST can apply for an Ad...
The Goods and Services Tax Network ( GSTN ) has enabled the System computed GSTR-3B (Table-3 for liabilities) on the basis of GSTR-1 filed by taxpayers now available on the GST portal for monthly GSTR-1 filers. Compa...
In place of launching the new GST return filing system, the government will try to introduce advanced features to the older system. In an effort to the same the government has launched form GSTR 2B for the Input...
CBIC has issued Notification No 63/2020 – Central Tax dated 25th August, 2020 bringing into effect the provisions of Sec 100 of the Finance Act, 2019, which is reproduced below – Sec 100.&...
The Ministry of Finance today said that businesses with an annual turnover of up to Rs 40 lakh are GST exempt in Goods. Initially, this limit was Rs 20 Lakhs. In a tweet, the Finance Ministry said, add...
It is being noticed that GST department is sending out the emails to taxpayer whose aggregate turnover has exceeded Rs. 5 crore. GST system has computed Aggregate turnover for the financial year 2019-20 base...
The Central Board of Indirect Taxes and Customs (CBIC) has notified e-invoicing for businesses with turnover above Rs 500 crore, increasing the threshold for mandatory issuing of electronic invoices from the earlier limi...
One essential aspect of business taxation in India is Input Tax Credit under GST. It helps in identifying the most accurate tax value & avoids the screening effect on taxes. ITC under GST is one way of avoiding t...
Companies which have postponed vendor payments due to a liquidity crunch brought on by the Covid-19 crisis will have to face further working capital woes due to credit reversal with interest under the...
The Central Board of Indirect Taxes and Customs (CBIC) has issued following notifications under GST to implement the relief measures due to outbreak of Covid-19 and Nationwide lockdown as taken into the 40th&nb...
