In August 2024, several key GST updates were made to India’s GST framework, reflecting ongoing efforts to streamline and enhance the tax system. These changes impact various sectors, with implications for businesses of all sizes. From new GST compliance requirements to revisions in laws, the lat...
RCM Time of Supply Rule Changes Effective from 1st November 2024 E-Way Bill and E-Invoice System Updates Effective from1st January 2025 GST Updates 2024: 10 Key GST Updates and Developments of the Year Form GSTR 9: Categories, Applicability, Parts & Sub-Parts, Preparation, & Filing Table 4...
The GST portal services will be unavailable from 01:00 AM to 5:30 AM on 1st March 2024. We regret the inconvenience caused. Some taxpayers have reported delays in registration despite successful Aadhar authentication by Rules 8 and 9 of the 2017 CGST Rules. For that reason, the CBIC has ...
Yes, from 1st April 2021 e-invoicing is mandatory for taxpayers having a T/O of more than Rs 50 Crores Reply Deepak Maharjan March 12, 2021 at 4:47 pm I am unable to register for e-invoicing because my turnover is above 50cr but while registering i have to declare it is above 100...
Changes to GST: Donna Harkness reviews the GST changes effective from April 1st.(On Accounts)Harkness, Donna
The 55th GST Council meeting on 21 December 2024 will bring several important updates and changes in the Goods and Services Tax (GST) regime for 2024-25. The key highlights from this meeting: Ease of Compliance Burden: GSTR-1 Amendments:New GSTR-1A form for current period amendments. ...
50 lakh, Tax Deducted at Source (TDS) will be deducted from that transaction at a rate of 10 percent of either the purchase transaction or the payment for it (whichever occurs earlier).The following new changes were introduced:Enable the feature that is named Initial threshold value under ...
-Seeks to further amend notification No. 25/2002-Customs, dated the 1st March, 2002 so as to add capital goods to the already existing list of capital goods exempted from basic customs duty for manufacture of lithium-ion battery of mobile phones and electrically operated vehicles. ...
Here’s how the value of the goods & tax on it changes, and the final effect on the price under old tax laws. The tax liability was passed on to every next stage, and the final price effect comes on the end consumer. This condition is known as the cascading effect. ...
Government has granted waiver from payment of interest and/or late fee to normal (Monthly / Quarterly) & composition taxpayers for the tax periods of March and April, 2021, through Central Tax Notification Nos. 08/2021 and 09/2021, both dated 1st May, 2021. The details are summarized below...