The last date to file GSTR-3B for the month of August 2019 is 20th September ’19’. In case you miss the deadline for GSTR-3B, you will be legally responsible to pay a late fee and penalty charges. As per the Central Board of Indirect Taxes and Customs, the delay will impose a fine of Rs… Continue reading Alert: File your GSTR-3B Before 20th Sep ’19’ and Avoid Penalty
If we analyse the roadmap of Goods and Services Tax (GST), it has enormously benefited the Indian Economy. Within a short span of time, the GST created a huge momentum for businesses and reducing the tax burden for the common man. The newly implemented indirect tax regime ultimately helped every sector from manufacture to buyers… Continue reading The impact of Goods and Services Tax (GST) on India’s Economy
Recently, the GST council doubled the exemption limit to Rs. 40 Lakhs for the payment of Goods and Services Tax. Moreover, it also announced a higher turnover limit to Rs. 1.5 Cr for availing composition scheme of paying 1 percent tax which will be effective from 1st April 2019. Apart from this the GST Council… Continue reading Changes in Exemption limit under GST
Recently, a scheme was launched by the Government of India, in order to waive the late fees for the delayed filing of the GST Return. It is a one-time scheme, that is launched for the filing of GSTR-1, GSTR-3B and GSTR-4 for the period of July 2017 to September 2018, that is, for the period… Continue reading Late fees for GST Return Waived
Changes in Business regulations and IT updates are forcing professionals services to meet income tax filing norms, returns, audits and registrations under GST.
GST i.e. Goods and Services Tax as the name suggests is the tax levied on the supply of goods or services or both in India. The Goods and Services Tax will provide the much-needed stimulant for economic growth in India by transforming the existing base of indirect taxation towards the free flow of goods and… Continue reading Advantages of GST for Citizens and the Country
Under the new GST regime, both the imports and exports of goods and services in India would be treated as the supply of goods or services within the course of inter-state trade and commerce and they will attract IGST. Article 269-A of GST Act constitutionally mandates that the supply of goods or services or both… Continue reading How has GST Impacted the Import Sector in India?