The Single Best Strategy To Use For GST News
The Single Best Strategy To Use For GST News
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amount Slice final decision on electric powered cars, chargers & leasing thereof deferred; Committee to submit its report
a fresh GST amnesty plan is released to rationalise late charges for delay in filing of GSTR-3B return. It provides a conditional waiver of late service fees for delay in filing GSTR-3B return from July 2017 to April 2021. Simply click here to find out much more.
when it comes to agenda and anticipations, it truly is observed for a critical Assembly by using a host of troubles on which determination is expected. the very first GST Council Meet after the Modi three.0 Cabinet was sworn in is about to take into account-
The GoM on Pan masala was formed to assess the necessity and benefits of imposing a potential-primarily based valuation procedure for that levy of GST on pan masala and very similar items.
45th GST Council Assembly might be held on seventeenth September 2021. Tax concessions on COVID-19 Necessities might be extended, issue on GST compensation to states may very well be taken up, correction of inverted tax structure, and so on are around the agenda.
The provisional attachment shall remain legitimate for the entire period ranging from the initiation of any proceeding until the expiry of a duration of a person 12 months within the day of buy manufactured thereunder.
the newest report issued in direction of the end of 2022 is more than likely like the very first report, submitted earlier that calendar year, aside from the divergent views stated earlier mentioned.
38th GST Council Conference will occur on Wednesday, 18 December 2019. The agenda features key amount revisions, relook in the conditions of inverted tax construction and simplification from the upcoming new GST return method. go through even further with regards to the Council meeting listed here.
In her remarks, the Union Finance Minister emphasised the central government’s assistance to states by means of well timed tax devolution, Finance Fee grants, as well as the disbursement of GST payment arrears to promote progress, In accordance with an official statement.
The Assembly, the primary For the reason that new government took Office environment, also resolved numerous operational concerns and advised uniform GST costs for milk cans and get more info carton packing containers.
Even a small Avenue vendor will inform you, 'UPI', not cash. This change points out how contemplating gets empowered when convenience is available: PM Modi
A registered individual can use kind GST PMT-09 to transfer any level of tax, fascination, penalty, payment or almost every other amount of money offered in the Digital cash ledger beneath the Act to the electronic cash ledger for built-in tax, central tax, State tax or Union territory tax or cess.
New composition scheme is launched for provider vendors and those who offer products and services together with items; the Turnover limit set is Rs fifty lakhs as well as Tax charge is fastened at 6%.
the speed cuts on millet-primarily based wellness products and solutions with more than 70% millet information could possibly be One more merchandise around the agenda. The fitment committee has instructed a nil level exactly where millet-dependent overall health products are supplied in loose kind, Whilst a 5% when provided in pre-packaged and labelled form.
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