38th GST Council Meeting Highlights

On December 20, 2019

Since the implementation of GST, every day there are new additions or changes in the process so that it can be simplified further. To add to this list, the GST council recommended few more changes in its 38th GST Council Meeting. The meeting was headed by Union Minister for Finance & Corporate Affairs Smt. Nirmala […]

Offences and Penalties under the GST Act

On December 19, 2019

What is an offence under GST? An offence under GST is the breach of GST rules and violations of provisions of the GST Act. There are severe penalties for the lawbreakers and to avoid such penalties you must have the information about these offences. There are 21 offences in total that come under the GST […]

Cancellation of GST registration for non-filers of GST Returns

On November 19, 2019

The Goods & Services Tax (GST) Administration is going to bridle the non- filers of returns following lower than expected tax mop-up. The administration is all set to act tough with the non-filers of returns by cancelling their registration. In technical terms, the filing of returns helps tax authorities to estimate the tax liability and […]

Clarifying Input Tax Credit Claims under New GST Rules

On November 13, 2019

Since its implementation in 2016, GST laws have been kept on changing. In recent times a lot of big amends have been done to simplify GST for taxpayers. To add to the list is the latest GST circular released by Central Board of Indirect Taxes and Customs (CBIC), which is here to end confusion over […]

GST on Adoption Fees Exempted, Kids Are Not Goods

On November 5, 2019

After its implication in 2016, GST is constantly changing. There has been a lot of exemption and simplification of GST in recent times. In addition to pre-existing changes, a new ruling by the Maharashtra bench of the Authority for Advance Rulings(AAR) is ready to make its way to the amends. The new ruling is about […]

Simplification of GST to improve India’s BIZ Ranking

On October 31, 2019

India has jumped 14 places to the 63rd position on the World Bank’s ease of doing business ranking. After witnessing the performance, industrial sector oozed confidence that India will climb the ladder farther and soon will be among the top 50 nations on the World Bank’s ‘Doing Business’ 2020 report. The ranking has only been […]

GSTN will release a new version of return filing interface on 22 October

On October 15, 2019

With an aim to further simplify the process filing GST, GST Network (GSTN) will release an improved version of the GST return filing interface on 22 October. Many suggestions provided to the department were incorporated in version 2 which is in place right now and the other updates can be seen in version 3 which […]

Chandigarh tops the GST chart in-country by registering 89.6% GST returns

On October 11, 2019

Chandigarh ranked first in the country in the Goods and Service Tax (GST) collections by registering 89.67% filing of GST returns in the first six months of the current financial year, from April 1 till September 30. According to the records, Chandigarh has around 30,000 GST number holders from different segments, but automobile industry, sanitaryware manufacturers, […]

5 Major changes in income tax laws that came into effect from September

On September 11, 2019

As the full budget for financial year 2019-20 was presented after the general elections, there are certain changes, that are now applicable from the September 2019. 1. TDS on non-exempt portion of life insurance As the net income portion is defined as the total sum received less of total amount of insurance premium paid. So […]