Latest GST News: Finance Minister Nirmala Sitharaman has announced that all pending GST refunds will be paid to micro, small and medium businesses within 30 days. Further, all future GST refunds will be sorted out in 60 days, she said. Evidently, faster GST refund process can help MSMEs in many ways. Here’s how this latest…
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Here are the Top 17 Budget 2019 takeaways that favor every small business in India. Rs 350 crore loan has been allocated for GST registered businesses to help them grow. Result: Getting loans will become much easier for small businesses. Under this Union budget, 2% interest will be paid by the GOVT for GST-registered…
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If you’re a taxpayer under GST filing your GSTR 1, GSTR 2, GSTR 3 regularly then, you must file GSTR-9 as well. However, you can skip filing GSTR-9 if you’re a A. Casual Taxable Person (or) B. Input service distributors (or) C. Non-resident taxable person (or) D. Persons paying TDS under section 51 of GST…
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If you’re a taxpayer under GST filing your GSTR 1, GSTR 2, GSTR 3 regularly, then you must file GSTR-9 for the Financial Year 2017-18 by December 31st, 2018 Here’s how to file GSTR-9 online: ?Based on GSTR-1 filed, the consolidated summary of GSTR-1 will be made available as PDF download. ?Based on GSTR-3B filed,…
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Now, taxpayers can see the status of returns filed on GSTN portal; here is how. 1. Access the https://www.gst.gov.in/ URL. The GST Home page is displayed. 2. Login to the GST Portal with valid credentials. 3. Click the Services > Returns> Track Return Status command. On submission of your GST return, you will be given an Application Reference…
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Piyush Goyal the Finance minister in his recent debate over GST said that in the last one year, the GST Council has reduced rates on 384 items and 68 services. “186 items and 99 services were exempted from GST. Also, sanitary pads were exempted from the GST,” he said. Referring to the recent growth forecast…
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A lot many services have been exempted from GST recently. Meaning, GST will not be charged on them. Here’s the list of services exempted from GST: 1. Artificial insemination of livestock (other than horses) 2. Warehousing of minor forest produce 3. Services provided by FSSAI to food business operators by way of licensing, registration and…
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Recent changes in the rates of GST makes specified services less expensive: Particulars Earlier Rate Amended Rate Multi-Modal transportation of goods-Classified under Heading 9965 18% 12% Supply of e-books for which print version exists classified under the Heading 9984. 18% 5% Other Changes: Particulars New GST Rate Supply of food and drink at restaurant, eating…
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Particulars Old GST Rate New GST Rate Paints and varnishes prepared water pigments of a kind used for finishing leather-classified under the Heading 3208/3209/3210. 28% 18% Glaziers’ putty, grafting putty, resin cement, caulking compounds and other mastics; painters’ fillings; non-refractory surfacing preparations- classified under Heading 3214. 28% 18% Refrigerators, freezers and other refrigerating or…
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नॉन-ऑडिट मामलों में टैक्स देने वालों के लिए, जिन्होंने अब तक अपना इनकम टैक्स/आयकर रिटर्न नहीं भरा है यहाँ एक अच्छी खबर है। वित्त मंत्रालय ने आईटीआर(ITR) (इनकम टैक्स/आयकर रिटर्न) भरने की आख़िरी तारीख 31 जुलाई 2018 से 31 अगस्त 2018 तक बढ़ाने की घोषणा की है। अगर आप उन टैक्स देने वालों/करदाताओं की श्रेणी…
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