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, […]

Auto Industry will have to “find its own balance” – says president SIAM

On September 27, 2019

Following the slowdown in the automobile sector, president of Society of Indian Automobile Manufacturers (SIAM) said that the auto industry will have to “find its own balance” to boost demands. The auto industry was very hopeful of GST reduction but the GST Council is clearly declining to cut rates for the auto sector. The industry […]

GST Input Tax Credit (ITC) Reconciliation

On April 5, 2019

5 BASIC CONDITIONS FOR AVAILING INPUT TAX CREDIT Following conditions should be satisfied to avail input tax credit under GST Goods or services received must be for furtherance of business Tax Invoice, Debit Note, Bill of Entry should be available Goods or services must be received Tax charged on the invoice should be paid by […]