The GST Council in its 32nd Meeting held today under the Chairmanship of the Union Minister of Finance & Corporate Affairs, Shri Arun Jaitley in New Delhi
The GST Council in its 31st meeting held on 22 December 2018 at New Delhi made the following policy recommendations.
The Eway Bill mandate will kick-off with inter-state transactions and by 1st June it will be implemented for intra-state movement of goods.
As per GST law, for every supply of taxable goods or services, a registered supplier is required to provide a tax invoice to the Purchaser.
GST Registration is a two-step process. A Temporary Registration Number can be generated without submitting documents. step-by-step guide to get your registered in the GST portal.
ITC-04 and Job Work under GST | Job Work includes outsourced activities that may or may not culminate into manufacture | Read more about due-date, format and filing here!
The TCS (Tax Collected at Source) collector is required to file a TCS return in form GSTR-8 within 10 days after the end of the given month.
GSTR-3B is a monthly GSTR Return which consists of summarized details of supplies | GSTR 3B Format, Due date and Filing!
GSTR-1 is a monthly or quarterly return (based on taxpayer’s annual turnover) that should be filed by every registered dealer. Know more about the duedate, format and eligibility here!
The implementation of GST, has probably been the biggest taxation reforms in independent India. Besides uniting the country under a single tax regime, the roll out of GST has also laid the path for the formalisation of the economy.
E-invoicing model has been adopted by many countries globally with varying implementation models. The Indian adoption consists of following components.
The Input Tax Credit mechanism allows a taxpayer to reduce his tax liabilities on his sales with the taxes paid on inward supplies.
