5 Simple Statements About GST News Explained
5 Simple Statements About GST News Explained
Blog Article
a complete or Portion of the amount applied for refund may well have already been rejected through a recognize issued because check here of the authority. following finishing the thanks proceedings, a last get should be issued inside of 60 times through the date of receipt from the refund application.
The GST Council had to deliberate the taxation of on line gaming, horse racing, and casinos underneath GST for the future GST Council Conference which seems to not occur According to the latest media studies.
GST Council's 28% tax on India's RMG sector has impacted revenues and margins of quite a few talent-based gaming companies within the state along with harm investor sentiment, Based on a new report.
one. There’s a different facility around the GST portal for tax filers to obtain the Bill-smart particulars of input tax credit that has been car-populated in desk 8A of your GSTR-9 annual return.
Also watch out for opportunity review of on line gaming sector that has Hence considerably found adverse influence of modification on the GST price.
GoM on appellate tribunal was thought of with a few modifications that will be re-drafted and circulated with users of GST Council for acceptance.
based on the complaint, Gelvan and his associates retained up to ninety percent of The cash they lifted for sham charities as payment for their fundraising companies.
38th GST Council Conference will happen on Wednesday, eighteen December 2019. The agenda features key fee revisions, relook into the conditions of inverted tax framework and simplification from the impending new GST return technique. Read additional with regards to the Council Assembly listed here.
“It’s disgraceful that the defendants In this instance persuaded people today to donate their money to help you cancer survivors, disabled law enforcement officers and homeless veterans, only to keep the vast majority of that cash for personal use,” mentioned Attorney normal Grewal. “It’s intolerable that a great deal of this nationwide fraud was perpetrated from New Jersey. We thank the Federal Trade Fee and our associates in other States for dealing with us To place an end for the defendants’ scheme and to redirect their sick-gotten funds to genuine charities that do excellent get the job done for those in need to have.
He further more mentioned that with regard to compliance simplification, proposals may consist of streamlining the GST return submitting system by enabling amendments in the event of incorrect reporting in GSTR in exactly the same thirty day period.
– just one-time amnesty is surely an expectation of your trade to regularize all First issues of GST Implementation.
A registered taxpayer paid out greater than one% of his GST liability working with only his Digital dollars ledger, for all of the tax durations in The present FY thus far.
for most organizations, the accounting strategy of seller invoices is structured in this kind of method the GST amount, that's ineligible for ITC, is just not recorded independently relatively the entire transaction total is booked inside the price GL itself
A registered taxpayer wherever much more than Rs.1 lakh is paid as cash flow tax in the final two FY in belated IT returns of himself or his proprietor or any two associates or managing director, trustee or board, etcetera.
Report this page