About GST News
About GST News
Blog Article
Section of the reason for dipping revenues, apart from a slowing economic get more info climate recently, was the recurring reduction in numerous products’ GST fees forward of critical elections. nonetheless, officials concede that inflation concerns do not make this an opportune time for finishing up broader amount hikes.
companies by courts and tribunals to become taxed underneath RCM- Renting of premises by registries of courts/tribunals for business use to area bodies will bring in RCM.
A taxpayer has not submitted GSTR-one as a result of GSTR-3B not being submitted for over two consecutive months (a person quarter for those who opt in the QRMP scheme).
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continue to be tuned In this particular House to learn more regarding the highlights, most up-to-date updates and news to the 52nd GST Council Assembly.
The provisional attachment shall continue being legitimate for the whole interval starting from the initiation of any proceeding until the expiry of a duration of just one yr from your date of buy manufactured thereunder.
In an announcement issued on Wednesday, IRF mentioned taking away GST on helmets could make regular helmets additional cost-effective for your masses and can discourage them from getting helmets of substandard high-quality, therefore lowering likelihood of head injuries and death amid two-wheeler riders in the course of a street incident.
36th GST council Assembly that was scheduled on 25th July 2019 has become postponed. day being introduced shortly.
“It’s disgraceful which the defendants in this case persuaded men and women to donate their revenue that will help most cancers survivors, disabled regulation enforcement officers and homeless veterans, only to keep most of that cash for private use,” explained legal professional common Grewal. “It’s intolerable that a great deal of of the nationwide scam was perpetrated from New Jersey. We thank the Federal Trade Commission and our partners in other States for dealing with us to put an stop into the defendants’ scheme and to redirect their ill-gotten cash to actual charities that do great do the job for people in have to have.
Taxpayers using an yearly turnover of below Rs five crore need not pay out interest, late charge or penalty for late filing of GST returns.
– 1-time amnesty is surely an expectation with the trade to regularize all Original problems with GST Implementation.
ONGC, Oil India and Reliance will be Amongst the beneficiaries of gas remaining included in the GST ambit in conjunction with city fuel distribution organizations.
Clarified that no GST would use on own promise offered by directors to your lender versus the credit rating restrictions/financial loans sanctioned to the corporation.
during the 53rd GST council meet up with held on Saturday, The federal government chose to exempt the two penalty and curiosity supplied they pay the principal tax need by March 31, 2025
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