Am I impacted by the GST rate change? For existing fees and services that are currently charged with GST, the GST rate will increase according to the announced implementation dates. There are no changes to existing fees and services that are not subject to GST.Current...
GST Notification – 56/2023–Central Tax dated 28-Dec-2023: Seeks to extend dates of specified compliances in exercise of powers under section 168A of CGST ActTop GST News for the month of November 2023 Tax regulations, including GST (Goods and Services Tax), continue to evolve, making it...
GSTN Updates UPI and Credit/Debit Cards Payment Method with Axis and Karnataka Bank to increase its payment process. Read More 05th August 2024 The new GSTR-8 advisory reduces the current rate from 1% to 0.5%. View more 02nd August 2024 The new advisory pertains to Jammu & Kashmir and...
October 24, 2024bysuman The Group of Ministers (GoM) has reduced the GST on 20-litre water bottles, bicycles and exercise notebooks to 5%. This move is aimed at making these essential items more affordable for consumers. This GST reduction can increase demand for these products, benefiting bot...
Loss of input tax credit. This will increase your tax liability and reduce your profits. You may face a penalty of up to 100% of the tax amount involved, and imprisonment can be up to five years. Fake GST may damage your reputation and goodwill in the market. ...
Some taxpayers paid demands using Form DRC-03 instead of the “Payment towards demand” facility on the GST portal, leaving the demand unpaid status in the liability register. Form GST DRC-03A was introduced via Notification No. 12/2024 on 10th July 2024. Once details are entered, the sy...
Some taxpayers paid demands using Form DRC-03 instead of the “Payment towards demand” facility on the GST portal, leaving the demand unpaid status in the liability register. Form GST DRC-03A was introduced via Notification No. 12/2024 on 10th July 2024. Once details are entered, the sy...