GST which is known as Goods and Services tax is considered to be one of the most crucial reforms in India. It was came into force in 1st July 2017. It is an indirect tax structure designed to support and enhance the economic growth of a country. More than 150 countries have implemented...
The 47th meeting of the Goods and Services Tax Council began in Chandigarh, almost marking five years of the tax system coming into effect on July 1, 2017. What is the GST Council? The GST regime came into force after the Constitutional (122nd Amendment) Bill was passed by both Houses of...
The Goods and Service Tax (GST) came into effect from 1st July 2017. Take a quick look at the journey of GST in India explained in the table below: Year’s Journey 2000 Prime Minister A.B. Vajpayee introduces the concept of GST. 2006 Union Finance Minister proposes GST to be ...
After Karnataka and West Bengal, Mumbai has declared the scheme with a resolute to curtail the arrears of taxes and other amounts which existed prior Goods and Services Tax regime which came into force on July 1, 2017. The scheme grants waiver of arrears under various state levies, including...
While the government clarified that the hike that came into force from October 1st, 2023, was not retrospective, claims emerged of some of the tax demands in these orders going back years, which some argued was retrospective taxation. Thus, many contested these notices, including Dream Sports, ...
GST Software for chartered accountant: GST refers to the Goods and Service Tax which is an indirect form of taxes that came into force on 1stJuly 2017. After launching this tax all others goods and service taxation became irrelevant in India. Practically,GSTis tax levied on goods and services...
The supplier of Goods generally pays the Tax on supply but on occasion when the reciever/purchaser becomes liable to pay taxes, such a condition is termed as reverse charge. The concept ofreverse charge under GSTcame into force to increase tax compliance and tax revenues. ...
7,976 + Number of Customers Serviced 100 + Professional 5,983 + Laboratory Area 2007 Founded Learn More> Information Centre Regulatory Standards More + 2021-04-07 "Guidelines for the Evaluation of Same Line Same Standard Same Quality on Consumer Products", drafted by the GST, came into effect...
The stated explanation came into force on 01st January 2022. Trade and field formations expressed a great lot of uncertainty over how the Tax Authorities would handle the recovery due to the mismatches between GSTR-1 and GSTR-3B. Under the provisions of Section 79 of the CGST Act, 2017,...
7,972 + Number of Customers Serviced 100 + Professional 5,980 + Laboratory Area 2007 Founded Learn More> Information Centre Regulatory Standards More + 2021-04-07 "Guidelines for the Evaluation of Same Line Same Standard Same Quality on Consumer Products", drafted by the GST, came into effect...