What is an E way bill? Under GST, transporters should carry an eWay Bill when moving goods whose value exceeds Rs. 50,000 from one place to another. GST E way bill needs to be generated on the eWay Bill Portal.  * E way bill is used to monitor the movement of goods to/ from a…

Are you new to GST? Are you confused with the way GST works? Are you suppose to file GSTR1, but do not know how to? Don’t worry! All you need to know about GSTR-1 is here. Every taxpayer under GST should submit details of their business sales with the government by filing GSTR-1. This is…

Does your business turnover exceed Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states)? If Yes, then GST registration is not an option, it’s mandatory! If you’re new to GST and do not know where to get your GST registration done, this piece of content makes your life easy. Download Vyapar App Here…

Before, taxpayers were to file GSTR-9 by August 31.  Haven’t you filed your GSTR-9 yet? Worry not! The Govt has extended the last date of filing GSTR-9 (annual goods and services tax return) from August 31 to November 30.  On Monday 26th Aug, FM Nirmala Sitharaman said “It is hereby informed that the last date…

The turnover limit for businesses for e-invoicing is likely to be fixed at Rs 50 crore. This means big taxpayers who are having better technology should generate their e-invoice on GOVT portal for B2B sales. They should start e-invoicing right from September 2019. The official said 1 crore invoice generation/day can be handled by GOVT…

Currently, when you claim for GST refund with the central tax officer, you will receive only 50% of your money, the rest 50% will be cleared by state tax officer after verification. Sometimes, even after sanction/payment of refund, the tax authority delays the GST refund. The two authorities – state and central settling the same…

PM Narendra Modi is back to the office for the second time! Companies across sectors such as durables, automobiles and real estate want him to bring down the GST rates. From the Durable Sector: ✔ Products like AC and TV with 28% GST should be brought down to 18%. ✔ “They are not luxury items, they are…

Home buyers will now have to pay 12% GST on balance amount due to the builder if the housing project has been granted completion certificate before April 1, 2019. This GST will have to be paid by both registered and unregistered landowners. GST News Highlights: ✔ From April 2019, builders of all under-construction houses have 2…

Are you an exporter of goods or services? Have you ever got your GST refund quick? No?  Don’t worry, most of us are facing the same issue. GST refund is a slow manual process which takes a lot of time with lengthy paperwork. Way too much of your money is stuck with the Govt, isn’t…

A new GST rule is here! This rule changes the way you were creating your invoices. It doesn’t matter how you were creating bills until now, September onwards all your B2B (Business to Business) invoices should be created only on the government portal. This means you will have to enter all your sales information on the…

Yes, you will not be allowed to generate e-way bill if you haven’t filed your GSTR returns for the past 2 months on time. By this, you will not be allowed to transport goods from one state to another. Therefore, if you did not file your previous returns, complete them before 21st June 2019. This…

Download Vyapar App Composite Scheme Limit Increases from Rs. 1 crore  to Rs 1.5 crores For North-Eastern States –  (i) Arunachal Pradesh, (ii) Manipur, (iii) Meghalaya, (iv) Mizoram, (v) Nagaland, (vi) Sikkim, (vii) Tripura, (viii) Uttarakhand,  the limit has been increased from Rs. 50 lakhs to Rs. 75 lakhs. This means you can now opt…

Filing GST Return was always difficult! Isn’t it? Luckily, Govt promised to make it simple with the new simple GST return forms. This should have been available to you by April 1, 2019, but it’s still not. It’s delayed! The new date would be decided after the new software system is 100% ready. What will…

If you’re a GST registered businessman struggling with Dec 31st deadline, given the amount of work involved, there is a good news you want to hear. As can be seen, the last date for filing Annual return GSTR-9 was set at December 31, 2018.  Days before the final deadline of December 31, 2018 to file…

Exempted from GST: (Zero Tax Rate) Sanitary pads. Deities made of stone, marbles or wood. Rakhis, without any precious metals. The raw material used in brooms. Commemorative coins circulated by the RBI or government. Saal leaves Fortified milk From 12% to 5% Handloom dari Fertiliser grade phosphoric acid From 28% to 18 % Lithium-ion batteries reduced Vacuum…

In its bid to allay concerns of traders on invoice generation post-GST, the CBEC, under the Department of Revenue, said: “There are some apprehensions in the trade circles that GST invoice have to be issued as per prescribed format and that issuing GST invoice is going to be burdensome process. This is not correct. Some…

Traders and retailers can file declarations within 90 days claiming tax credit for transition stock after the GST rolls out from July 1. The draft transition rules for the Goods and Services Tax (GST) regime had pegged the time at 60 days.

  Invoicing under GST is going to go through some changes. It forms a crucial function when it comes to the execution of a transaction. On every sale/purchase an invoice is issued by the supplier i.e person making the sale. The invoice contains S.No, details of product such as product name, description, quantity, etc along…

What is the GST bill ? The Indian parliament decided to Introduce the Goods & services Tax (GST Bill). It was introduced as The Constitution (One Hundred and First Amendment) Act 2016, following the passage of Constitution 122nd Amendment Bill.