18 Feb, 2023
The Goods and Services Tax (GST) regime has significantly impacted the way import and export transactions are carried out in India. The GST law has introduced a uniform tax structure across the country, replacing the earlier multiple taxes that were levied on goods and services. This has not only simplified the taxation process but also […]
Read More16 Feb, 2023
GST (Goods and Services Tax) is a revolutionary indirect tax reform in India, which was implemented on July 1, 2017. It is a comprehensive, multi-stage, destination-based tax that has replaced multiple indirect taxes levied by the central and state governments. Before the implementation of GST, the Indian tax system was very complex and fragmented, with […]
Read More01 Feb, 2023
Minister of Finance February 1, 2023 Hon’ble Speaker, I present the Budget for 2023-24. This is the first Budget in Amrit Kaal. Introduction 0-3 lakh Nil 3-6 lakh 5 per cent 6-9 lakh 10 per cent 9-12 lakh 15 per cent 12-15 lakh 20 per cent Above ` 15 lakh 30 per cent This […]
Read More30 Jul, 2021
Rule-60(7) of CGST Rules-2017 prescribes for generation of auto-drafted statement containing the details of input tax credit in FORM GSTR-2B for counter-party recipients. As per Rule-60(8) of CGST Rules-2017, FORM GSTR-2B shall be made available to the recipients after the Due date of filing GSTR-1/IFF by the suppliers. Notification No. 12/2021-CT and 13/2021-CT, both dated […]
Read More30 Jul, 2021
Goods and Services Tax Home Goods and Services TaxToggle navigationHome News and UpdatesImportant changes related to QRMP Scheme implemented on the GST Portal for the taxpayers06/07/2021 Few important changes related to QRMP Scheme implemented on the GST Portal for the taxpayers are as given below: A.Auto population of GSTR-3B liability from IFF and Form GSTR […]
Read More30 Jul, 2021
A functionality to check status of bank account details update for the taxpayers who have taken new registration at GST Portal but have not yet furnished the same, has been introduced, in view of Rule 10A of the CGST Rules 2017. Such taxpayers are required to update their Bank Account Details within 45 days of […]
Read More30 Jul, 2021
Goods and Services Tax Home Goods and Services TaxToggle navigationHome News and UpdatesNew functionality on Annual Aggregate Turnover (AATO) deployed on GST Portal for taxpayers.27/07/2021 GSTN has implemented a new functionality on taxpayers’ dashboards with the following features: •The taxpayers can now see the exact Annual Aggregate Turnover (AATO) for the previous FY, instead of […]
Read More03 Apr, 2021
₹ 1,23,902 crore gross GST revenue collected within the month of March 2021 The gross total GST revenue collected in the month of March 2021 is at a record of ₹ 1,23,902 crore of which CGST is ₹ 22,973 crore, SGST is ₹ 29,329 crore, IGST is ₹ 62,842 crore (including ₹ 31,097 crore collected on import […]
Read More03 Mar, 2021
The gross GST revenue collected in the month of February 2021 is ₹ 1,13,143 crore of which CGST is ₹ 21,092 crore, SGST is ₹ 27,273 crore, IGST is ₹ 55,253 crore (including ₹ 24,382 crore collected on import of goods) and Cess is ₹ 9,525 crore (including ₹ 660 crore collected on import of […]
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