GST

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Offering a huge relief to consumers and businesses, the Goods and Services Tax (GST) Council on Friday slashed tax rates on as many as 177 items of daily consumption to 18 per cent from the top tax bracket of 28 per cent. In the process, the council trimmed the list of items in the top 28…

Read More Full list of revised GST rates Pdf for 177 categories of goods on 10th November 2017

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Form GST PMT-07 is now available on GST Portal If a taxpayer furnishes a monthly return without making the payment of tax due the furnished return will be considered as invalid return. So payment of taxes under the GST regime needs to be done monthly to remain compliant. It is important to note that without furnishing the…

Read More Form GST PMT-07 is now available on GST Portal

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The government has waived off the penalty for delayed filing of initial returns under goods and services tax (GST) for August and September, giving a major relief for small and medium enterprises (SMEs), which are the most affected by the hasty implementation of goods and services tax (GST) GSTR-3B. Not just that, those who have…

Read More GST: Govt waives off penalty for late filing of GSTR-3B for Aug, Sept; relief for small businesses

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After filing of GSTR-1 (details of outward supplies), the taxpayers should file GSTR-2. GSTR-2 is a return containing details of all inward supplies. Based on this return the Input Tax Credit that a taxpayer is eligible to avail is determined. After your suppliers file GSTR-1, the details of your inward supplies get auto-populated in GSTR-2A. All the purchases from…

Read More Filing Of GSTR 2 on GST Portal Step by Steps With Screenshots

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The Finance Minister Arun Jaitley-headed panel pushed for big changes in its 22nd meeting to iron out rough edges of the new tax system that has been hit by multiple pain points since it was rolled out on July 1. The Goods and Services tax (GST) council on Friday cut rates on 27 items and…

Read More Full list of revised GST rates for 27 goods and 12 services at 22nd GST Council meeeting on 06-oct-2017