The 17th weekly installment of INR 5,000crore has been released by the Centre on 19 February 2021 to the states to meet the shortfall of Goods & Services Tax (GST). Previously, the installment of ₹6,000crores was released on 15 February 2021 on Monday. A large amount of financial aid has been borrowed by the states […]
Tag Archives: GST
Mandatory 1% Cash Payment of GST Liability will Reduce Fake Invoicing & Tax Evasion
To curb the menace of fake invoicing, the Central Board of Indirect Taxes and Customs has amended the GST rule. According to the new GST amendment, the taxpayers now will be required to pay 1% of GST liability in cash with effect from January 1, 2021. This rule applies to registered taxpayers whose taxable income, […]
GST Portal: Know Everything About GST Portal, Registration Process, And Documents Required
If you want to know more about GST registration, this article is a must-read for you. It will not only tell you about the steps of registration but also the documents that are required at every step
How To Let Goods And Services Tax Play To Its Strength To Support And Grow Your Business
GST is certainly one of the biggest changes made in India regarding taxes. Read the article to know what are the benefits that are winning the hearts of people across the nation
GST: Types Of Goods And Services Tax And Different GST Rates Across The Nation
Taxes matter because they affect the prices of almost everything which ultimately causes drastic social and economical changes. Read about the different kinds of GST and also the various rates at which it is applied
GST: What Is Goods And Services Tax And What Are The Benefits It Offers?
As a responsible citizen of India and an aware consumer, you should be familiar with what is GST and what are the benefits that tag along with it. It will be a good read for both the entrepreneurs and the consumers.
GST: Businesses Not Ready With E-invoicing Will Get 30-Day Grace Period, Here’s How E-Invoicing Will Lead to Improvement in Overall Business Efficiency
Mumbai, October 1: The Central Board of Indirect Taxes and Customs (CBIC) on Wednesday announced a 30 day grace period for those businesses which are not yet ready for GST e-invoicing. In a notification on Wednesday evening, CBIC noted that even after more than nine months of the first notification in this regard, some of […]
GST Council Meet: Compensation Gap Stands at Rs 2.35 Lakh Crore for FY 2020-21 Amid COVID-19 Pandemic, Centre Places 2 Options Before States
New Delhi, August 27: Union Finance Minister Nirmala Sitharaman on Thursday chaired the 41st Goods and Services Tax Council Meeting. During the meeting, the council estimated the compensation gap at around Rs 2.35 lakh crore in GST collections due to COVID-19 pandemic. Addressing the press conference, Revenue Secretary Ajay Bhushan Pandey stated that the total […]
Delayed GST Payment: Govt Changes Interest Liability Rules, Interest to Be Charged on Net Tax Liability From September 1, 2020
New Delhi, August 26: The government on Wednesday changed the interest liability rules and said that the interest on delayed payment of Goods and Services Tax (GST) will be charged on net tax liability with effect from September 1. Reports inform that the industry had earlier this year raised concern over the directive of recovery […]
Aadhaar Authentication to Help Businesses Get GST Registration Within 3 Days
In what is believed to be a major boost for businesses in India, the businesses that provide Aadhaar number while applying for registration under the Goods and Services Tax (GST) will get the approval in three working days. Last week, the Central Board of Indirect Taxes and Customs (CBIC) had notified Aadhaar authentication for GST […]