Amendments by 31st GST Council Meeting

  GST Council met on 22nd December 2018 in Delhi and concluded below mention aspects which will be effective from the date of Notification or as decided by the council in their meeting itself. Here we bifurcated all the relevant changes in various broad categories so that ...

FAQ issued by ICAI on GST Audit Report

The Indirect Tax Committee of the Institute of Chartered Accountants of India (ICAI) has recently released Frequently Asked Questions (FAQ) on GST Annual Audit Report. Through these FAQ, ICAI answered 49 questions, which would be relevant for Auditors as well as tax payers while preparing an ...

Interest Rates under GST

Government implemented GST by consolidating various State & Central taxes, these taxes has their different laws as compare to other. Every state law has various types of returns, due dates and interest & penalty on account of defaults for late payment & filing the returns. After imple ...

Amendments to GST Act 2018

Parliament has approved the amended GST Bills in their Monsoon Session, which finally get the president Nod on 29thAug 2018 and will become effective from the date of notification to be issued by government. By this notification existing IGST/CGST/SGST & UGST Act 2017 which will be amend ...

CBDT withdrawn Proposed Amendments in Tax Audit Report.

CBDT Issued Order u/s 119 dated 17th Aug 2018 to abeyance the 2 amendments, which was proposed in revised tax audit report and was supposed to be applicable from 20th Aug 2018.   CBDT wide its circular no 6/2018 dated 17 Aug 2018 decided to withdraw proposed changes ...

FAQ on GST-Interview Questions on GST

When Registration is compulsorily required without considering threshold limit  What is place of supply  What is the difference between Interstate Supply and Intrastate supply What is In-Eligibl ...

GST on Jewellers- GST Rate on Gold and Gold Making Charges

Jewellers industry works all together different as compare to other businesses under indirect tax regime. GST laws prescribed lower rate for this business segment.  GST rate on gold and other precious metals is 3%. GST on Diamond and precious stones is 0.25%. GS ...

GST Rate Cut: GST Council Reduced GST Rate on Various Goods

GST Council in 28th meeting, given relaxation by reducing GST rate on various items. Rate reduced from 28% to 18%: Paints and varnishes (including enamels and lacquers) Washing machines. Televisions upto the size of 68 cm ...

GST Reverse Charge on Bank for services received from DSA

A big relief to Individual “DSA’s or Agents” providing services to “Banks/NBFC etc”, by grating exemption from payment of tax on “forward charge basis”. In 28th GST Council meeting, Council approved the applicability of GST Reverse charge on serv ...

GST Rate reduced to 5% on Foods and Beverage Services other than Restaurant

To bring at the parity to “Food and Beverage Industry”, GST Council in their 28th Meeting has clarified/amendment that composite supply of food and drinks in restaurant, mess, canteen, eating joints and such supplies to institutions (educational, office, factory, hospital) on contract ...

GST Rate reduced on E-books

GST rate has been reduced on sale of E-books, earlier e-books was treating as services and was chargeable to 18%. As a part of Green Environment initiative, GST Council in their 28th meeting has reduced the GST to 5% only. Further there will be a mandatory condition for charging 5% GST, which is ...

Simplification of GST Returns

As GST Council previously discussed to simplify the GST Returns to ease of doing business in India, GST Council in his 28th meeting approved few changes in GST returns filling.   Threshold limit for Quarterly filling of return has been increased to 5 Cr from 1.5 Cr but th ...

No more GST on Declared Tariff of Hotel Bill

A good Relief to Hotels industry as 28th GST Council meeting decided that GST rate will be levied on the basis of transaction value only.  Earlier Hotel industry was charging GST rates on the basis of declared tariff, whereas they were collecting amount which can be more ...

What are the expectations from 28th GST Council

What kind of Relief you are expecting from 28th GST Council .?? ...

GST is painful?

Why GST is so complex, why government could not made easy  ...

GST on Gold rate

Why Gold are chargeable to lower rate in GST ...

Will Natural gas come under GST purview

In Recent news its seems that natural gas be chargeable to GST instead of Vat very soon, is it true or its just politcal move? ...