[ad_1] The Finance Ministry is working on a comprehensive mechanism that can resolve Goods and Services Tax (GST) disputes raised by states while avoiding distortions in the tax regime. The mechanism can be further discussed with the states GST The council meeting is expected sometime in June. The scheme includes a Disputes Redressal Bench which […]
Economy booming: GST collection in May also exceeds Rs 1.4 lakh crore
[ad_1] Goods and Services Tax (GST) collections crossed the 1.4-trillion mark for the third consecutive month in May 2022 and fell to the fourth highest level since the launch of the comprehensive consumption tax nearly five years ago. The steady jump in GST receipts over the past few months indicates that the economic momentum has […]
GST collection in May drops 16% from record level in April; Tax revenue collection crosses Rs 1.40 lakh crore
[ad_1] The Finance Ministry on Wednesday announced that the Gross GST (Goods and Services Tax) revenue for the month of May has crossed Rs 1.40 lakh crore, down 16.6 per cent as compared to April, when GST collections were at a record high. The total GST collection of the government in the month of April […]
Important changes in GST amendment in Budget 2022
[ad_1] Top Changes made under GST Amendment in Budget 2022 Under Budget 2022, certain exemptions were introduced by the Finance Minister for GST registered taxpayers with some strictness. Starting with the discount provided – The government has proposed to extend the time limit for claiming ITC. Now to make such amendments, section 16(4) of the […]
GST change on ITC will affect company’s cash flow
[ad_1] The GST change on ITC will affect the cash flow of the company. Significant adjustments were made, requiring the supplier to file returns and communicate… Post GST change on ITC will affect company’s cash flow first appeared Rajput Jain & Associates – Chartered Accountant in Delhi, [ad_2] Source link Related posts: Common mistakes in […]
GSTN Enabled LUTs Facility on GST Portal for FY 2022-23
[ad_1] GSTN Enabled Capability to File LUT on GST Portal for FY 2022-23 MoU application needs to be submitted before 31st March, 2022 on or before supply for special… Post GSTN Enabled LUTs Facility on GST Portal for FY 2022-23 first appeared Rajput Jain & Associates – Chartered Accountant in Delhi, [ad_2] Source link Related […]
GSTR-2B – GST ITC available when reflected in GSTR 2A/2B
[ad_1] GSTR-2B : Hon’ble Finance Minister, Nirmala Sitharaman, in the Budget 2021-22, proposed changes through the Finance Bill, 202 to include a new condition for availing ITC under the Central Goods and Services Tax Act, 2017 amends. The new condition for availing ITC is as follows: “In section 16(2) of the CGST Act, after clause […]
Major Changes in GST by Finance Act 2022
[ad_1] Major changes in GST by Finance Act 2022 Making it harder to avail input tax credit: A new clause (BA) has been inserted in section 16(2), which states that ITC can be availed only in respect of invoices when such ITC has not been restricted. Communicate with Buyers in Details as Auto Generated… Post […]
GST Compliance Calendar for FY 2022-23
[ad_1] Goods and Services Tax Compliance Calendar for FY 2022-23 To comply with various compliances under GST, here is the GST Compliance Calendar for FY 2022-23. Keep track of everything and you’ll never forget a deadline. Be obedient at all times. GST Compliance Calendar for the FY 2022-23 GST Compliance Calendar … Post GST Compliance […]
New facilities for taxpayers on GST Portal in March 2022
[ad_1] The article explains about the new functionalities made available for the taxpayers on the GST Portal (March, 2022) which include creation of link for Manipur, improvements made in search taxpayer functionality, mandatory Aadhaar authentication/Aadhaar for Form GST REG-21 Enrollment IDs are related to the form. GST CMP-02, Changes made on Portal for Composition Taxpayers […]