Under GST, certain goods and services, as decided by the government, are exempt from goods and service tax on their supply i.e. ‘NIL’ GST rate is applicable to such transaction.
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With an aim to provide taxpayer with a user-friendly and seamless compliance journey, the following GST updates have been on the GST portal / GSTN Portal.
Input Tax Credit (ITC) by applying the formula stated in Annexure of notification, within the due date of 20th September.
The Central Board of Indirect Tax and Customs (CBIC) introduced “Manual check” for its Customs and GST formation before the issuance of IGST refunds.
GST council have made amendments that mandates timely and apposite maintenance of account books and ledgers by a taxpayer registered under GST rules.
A registered taxpayer under GST can be liable to following offences and penalties for non-compliance to GST regulations:
ACES or Automation of Central Excise and Service Tax is a centralised, web-based software that allows a user to automate the processes of Central Excise (CE) and Service Tax (ST) under GST.
