Option provided to GTA to opt either for 5% (without ITC) or 12% (with ITC) under Forward charge Previously, the Central Board of Excise and Customs vide Notification No. 13/2017- dated June 28, 2017 (“Services Reverse Charge Mechanism Notification”), to notify the kind of categories of services on which tax will be payable under the Reverse Charge …
New GST Rates are effective from 18th July- Let’s take a view of Updated Rates: While the GST council recommend to remove some tax exemptions and adjust some rate structures, many other exemptions were eliminated. Beginning from Monday, Customers will pay extra for variety of commodities, including furniture, lodging and banking services as new GST …
New GST Number Registration in Delhi Flexibility in the systems via online regime makes the GST registration very easy by following the certain easy steps altogether in one go. GST registration is mandatory for the holder whose turnover is more than 20 lakh. After making the application online, the business applicant will get the unique GSTIN number …
Main Changes wrt 47th GSTC meetings have been notified : GSTN the GST Council altered the GST rates for several commodities, which may have an impact on average people’s wallets. The new Goods and Services Tax rates will be in w e. f starting on July 18, 2022. The modifications were made at the 47th …
Who are the top Goods and Services Tax (GST) consultants in India? The GST has been the Indian economy’s most significant game-changing development. With the adoption of this single tax, many other taxes—including the luxury tax, central excise duty, state sales and use taxes, entertainment taxes, purchase taxes, service taxes, surcharges and cess are replaced. …
What is process to add Additional Trade Name under the same GST No ? The Goods and Services Tax Network recently implemented a new feature that allows you to add a “Additional Trade Name” (not the same as the ordinary trade name) to the same Goods and Services Tax Number. Having various trade names under …
GST Dues Recovery is Not mandatory during the Search & Investigation : GST Dept. The official GST portal is where taxpayers can pay their GST dues. The GST Dept has said emphatically that payment of dues is not required during the search and investigation procedure. Because there have been several instances where taxpayers have been …
GST applicable on escalated Value of Contract: Maharashtra Authority of Advance Ruling (AAR) Maharashtra AAR – Issue on which ruling was sought : M/s. B. P. Sangle Construction Pvt. Ltd apply AAR to clarify whether the escalated value shall be added to taxable value U/s 15 of the CGST Act 2017. As per AAR, GST …
GST officer is not right in taking a stand that they do not have powers to rectify effective date of cancellation of taxpayer’s GST registration: High Court The GST officer is erroneous in asserting that they do not have the powers/authority to change the effective date of the cancellation of a taxpayer’s registration: High Court …
What is process of BE transmission status to GSTN at ICEGATE ? At ICEGATE, a new feature for verifying BE transmission status to GSTN has been enabled. BE transmission status to GSTN at ICEGATE : Due to a mismatch in GSTR-2B, taxpayers who have IGST credit on their bills of entry are having a lot of …