The infrastructure sector is the backbone of the Indian economy. The government has been making efforts to boost the sector through various schemes and incentives. According to the government, total infrastructure spending is expected to be about 10% of GDP (gross domestic product) during the 12th Five-Year Plan (2012–17), up from 7.6% during the previous […]
The 22nd GST Council Meeting was held at New Delhi on the 6th of October 2017. In the meeting, various decisions and changes pertaining to GST return filing, composition scheme, GST rates have been announced. The various measures announced in the 22nd GST Council will tremendously improve ease of compliance for SMEs. In this article, […]
The rate of tax is 18%http://www.cbec.gov.in/htdocs-cbec/gst/central-tax-notfns-2017
Last date for opting for composition as per the existing rule already over. It will be a great help to SMEs, if the last date is further extended.
GST registered parties need to file GSTR 3B on 20th August and 20th september for the transaction made during the month July and August respectively. GSTR 3B can be dowloaded from www.gst.gov.in
The tweets received by askGST_GoI handle were scrutinized and developed into a short FAQ of 100 tweets.
Online and Easy Return Filing Through GST
1. Application in respect of tax or duty credit carried forward under any existing law or on goods held in stock on the appointed day (1) Every registered person entitled to take credit of input tax under section 140 shall, within sixty days of the appointed day, submit an application electronically in FORM GST TRAN- […]
Rules & Formats: • Return Rules & Formats • Transition Rules & Formats • Goods & Services Tax Rules, 2017 – Goods & Service Tax Practitioner Formats • Goods And Services Tax Rules, 2017 – Mismatch Formats • Draft Rules for issue of Credit Transfer Document Analysis : • Return Rules • Transition Rules • […]
In Budget 2017-18, a ban on cash transaction of more than Rs 3 lakh has been proposed. The same has been mentioned in the Finance Bill 2017. But, the Govt of India has made amendment in Finance bill and has reduced the Cash transaction limit to Rs 2 Lakh. This amendment has been passed through Finance […]