The introduced amendment includes the incorporation of the GSTN entry. The functionality for e-Invoice exemption declaration has been made available on the GST e-Invoice portal by the GSTN department. Read more here: E-invoice Exemption Declaration Functionality Made Available The 51st GST Council ...
This amendment in the GST registration process came into effect from 21st August, 2020. We bring to you a small note on changed conditions for Grant of Registration - A. New Procedure of Registration 1. For below category of persons Aadhaar authentication process has been introduced for applicati...
GST was first introduced during 2007-08 budget session. On 17 December 2014, the current Union Cabinet ministry authorized the proposal for introduction GST Bill. On August, 2016, the GST Constitutional Amendment Bill was finally passed and its applicable on April, 2017. Goods and Services Tax ...
With considerable relaxations in some highly competitive parts of the real estate market, such as the rental markets, these segments experienced an increase in investments while others remained relatively constant. GST has proven to be a remarkable amendment in the real estate sector. Real estate, ...
The Goods and Services Tax (GST) in India was introduced by the Constitutional (One Hundred and First Amendment) Act of 2017. It is a unified tax system that replaced multiple indirect taxes levied by both the Central and State Governments. Under GST, the Central (CGST) and state government...
Goods and Services Tax is the tax levied by the Indian Government on the procurement of goods or services in the country. The tax was introduced in the year 2017. The tax has replaced all the other indirect taxes, like Value Added Tax (VAT), and compressed them into a single tax. GST...
To avoid the same revenue has introduced following provisions in the IT act, in order to restrict undue benefits being passed by use of sham SLB transactions: Section 43 (1) provides for treatment of sale and lease back transactions for tax purposes, the relevant extracts are reproduced below...
Goods and Services Tax (GST) in India, explained with benefits and components to get a better understanding and why it matters to you and your business.
And a new rule related to the Automated Return Scrutiny Module for GST Returns has been introduced. We have covered all the latest GST news here: Top GST News of the month. Also, we published three important articles related to GST Litigation as the government is tightening the laws. Have ...
Following our initial report (Government Announces GST/HST Break on Certain Holiday Essentials), Bill C-78, An Act respecting temporary cost of living relief (affordability) (“Bill C-78”) was introduced. One day later, on November ...