The Chairperson of the Central Board of Excise and Customs will be the permanent invitee in all the proceedings of the GST Council who will not have voting rights. Quorum and Decision-Making For a valid meeting of the members of the GST Council, at least 50 per cent of the total number ...
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Train relevant department and staff members on the importance of HSN codes, their role in GST compliance, and how to assign them to products. This will ensure that everyone agrees on HSN code usage. 4. Integration with ERP Systems Integrate GST HSN code into your Enterprise Resource Planning ...
It was in the 37th GST council meeting chaired by Union FM Nirmala Sitharaman, the standard of new e-invoice mechanism was discussed and approved and the same along with the schemes are published on the GST portal. General Queries on GST E-Invoice System Q.1 – What do we mean by GST...
October saw important developments in the GST sphere, including the 52nd GST Council Meeting on 7th October 2023, where crucial amendments were made. You can read all the latest updates here: Top GST News of the Month. You must also read the important checklist for taxpayers to consider before...
such other person or class of persons as may be notified by the Government on the recommendations of the Council. Interesting to note person specified in 9, 10 and 11. Every seller on E-commerce portal, as well as every E-commerce portal needs to get registration done. Even the companies...
50 lakh that don’t deal with a question of law could be decided by a single-member bench, as per the norms approved by the GST Council. Why need such Tribunal? Unburden judiciary: GST Appellate Tribunal will help resolve the rising number of disputes under the 68-month old indirect tax...
The Union Finance Minister of India chairs the council, and other members include the Union State Minister of Finance or Taxation of all the states. GST council along with the CBIC has played a significant role in the implementation process of GST in India. Process The government has taken ...
Though the GST Council has only recommendatory powers yet it will have the final say in matters relating to GST. Professionals will have an important role to play in the smooth implementation as the GST law will replace number of indirect taxes, remove cascading effect and above all provide ...
Regardless, the governmentearned substantialGST revenue from online gaming within six months of the tax hike, as revealed by the Finance Minister during the 54th GST Council Meeting. Collections jumped five times to Rs. 6,909 crore in only six months, from Rs. 1,349 crore in the preceding ...