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Goods & Services Tax

Key Highlights of 43rd GST Council Meeting

The GST Council under the chairmanship of Union Finance Minister Mrs. Nirmala Sitharaman conducted its 43rd meeting through video conferencing in New Delhi. Keeping in mind the 2nd wave of COVID-19, GST council has recommended the following relief measures for…

Complete Guide on How to File Nil GST Return

A complete guide for business owners and tax consultants on how to file Nil GSTR-1 and Nil GSTR-3B through online mode as well as through SMS.

Decision taken by GST council in its 40th meeting

The 40th meeting of GST council held through video conferencing, GST council has provided relief for reduction and waiver in late fees on late filing of GST returns.

GST relief package 2.0

Central Board of Indirect Taxes and Customs (CBIC) on dated 05.05.2020 have issued some notifications for providing some relief under GST in this pandemic situation. Below is a brief summary of the notifications.

Meaning of zero rated supply under GST

Zero rated supplies means export supplies and supplies made to SEZ units or SEZ developers. Further on zero rated supplies, input tax credit and refund is available even if supplies are exempt supplies.

All about form GST PMT-09

Form GST PMT-09 - form for transfer of tax amount from one head to another head.

Time period for retention of records under GST

Every registered person is required to retain books of accounts and other records until the expiry of 6 years from the due date of furnishing of annual return or until the expiry of 1 year from the date of final disposal of any appeal etc., whichever is later.

Summary of relief provided under GST due to corona virus

Due to coronavirus outbreak and disruption in the normal routine of the entire nation, the Central Board of Indirect Taxes and Customs (CBIC) has provided various reliefs and various extensions under Goods and Services Tax (GST) compliance.

GSTR-1 due date extended for Jammu & Kashmir for July to Sept 2019 – Notification

CBIC extends due date for furnishing FORM GSTR-1 for registered persons whose principal place of business is in the erstwhile State of Jammu and Kashmir, for the quarter July-September, 2019 till 24th March,2020.

Due date of GSTR-1 extended for Jammu & Kashmir for July to Sept 2019 – Notification

CBIC extends due date for GSTR-1 for taxpayers of Jammu and Kashmir, having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or current financial year, for each of the months from July, 2019 to September, 2019 till 24th March, 2020.