Also, we have covered a detailed article for you about the 55th GST Council Meeting. Apart from these, there are other major GST updates that we have covered and articles for what to expect in the coming year as well. Read from the links below: RCM Time of Supply Rule Changes Effective...
In a move that brought relief to many, the GST Council announced a conditional waiver of interest and penalties under certain sections. This initiative is designed to alleviate the financial strain on taxpayers who may have inadvertently missed deadlines or faced challenges in compliance. Uniform 12...
GST is managed by the Goods and Services Tax Council and is governed by the Goods and Services Tax Act, of 2017. GST is levied on all types of goods and services except petroleum products, and electricity, on which the taxes are levied by the state governments. It is divided into two ...
The GST Council decided the 18% GST rate on health insurance to maintain a balance between generating revenue for the government and ensuring that health insurance remains accessible to the public. The higher tax rate also helps offset the revenue loss from the exemption of healthcare services fro...
GST Council Constitution According to Article 279A, it is on the part of the president to give the order to constitute the council of GST within 60 days from the 12th of September 2016 which is already notified by the Government. Important:GST Council Meeting Updates: All You Need to Know...
Islamic Religious Council of Singapore Ministry of Communications and Information Ministry of Culture, Community, and Youth Ministry of Defense Ministry of Education Ministry of Finance Ministry of Foreign Affairs Ministry of Health Ministry of Law ...
The all-powerful Goods & Services Tax (GST) Council today in its 12th meeting held at New Delhi, approved the final drafts of UTGST (Union Territory GST) and SGST (state GST), with these, all five enabling draft bills stand approved and paving way for implementing the country's biggest ...
The Engineering Export Promotion Council (EEPC) has proposed the introduction of afaceless GST audit system. This proposal is expected to be included in the upcoming Budget 2025. By implementing this system, MSMEs can reduce compliance costs, fostering their growth and innovation. ...
The 53rd meeting of the Goods and Services Tax (GST) Council convened in Delhi, chaired by Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs, on Saturday, June 22nd. What is the GST Council? The GST Council is a constitutional body established under Article 279A of the ...
Stay Updated: Regularly review GST rules and updates from the GST council. Training: Train staff responsible for invoicing to understand GST requirements. Audit Regularly: Periodically audit invoices to identify and correct discrepancies.Electronic GST Invoicing (e-Invoicing)The...