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Tuesday, November 5, 2024

GST Council

7.12 Crores E-Way Bills in March-2021; Highest in a month during last three years

A total of 180.34 Crores of e-Way Bills have been generated in last 3 years E-way Bill system helped government to facilitate monitoring of the movement of essential commodities and medical supplies, during lockdown necessitated by COVID-19 pandemic E-Way Bill System...

Centre releases Rs. 30,000 crore as GST Compensation as well as Rs. 28,000 crore as IGST ad-hoc settlement to the States/UTs

The Central Government has released GST Compensation of Rs. 30,000 crore to States as part compensation admissible for FY 2020-21 on 27th March, 2021. The total amount of compensation released so far for the year 2020-21 is Rs. 70,000 crore....

Issue of GST late fee for the past period (August 2017 to January 2020) to be discussed in the next GST Council meeting

In the recent past, tweets have been noticed by the Government on the issue of waiver of late fee applicable on non-filing of GSTR 3B returns. The demands are largely for the waiver of late fee for the returns...

The Indian Government released the draft version of the new GST Return Form

The Goods & Services Tax (GST) Authority has come out with a draft of a new and simplified GST return form. The brand new form is anticipated to be formally rolled out in July 2019. By means of this activity,...

What reducing GST compliance rules imply for credit ratings of SMEs

Expert specialists state this relaxation alongside an expanded threshold for composition plan would urge more SMEs to document returns and more organizations to settle on this plan. It's preferable late over never. News of rearrangements of the Goods and...

The 32nd GST Council meet – Revised GST exemption limit from 20 lakhs to 40 lakhs

The GST Council at its 32nd meeting, which was held on Thursday took several resolutions to provide benefits to small and medium traders. It has relaxed the tax exemption limit to Rs. 40 lakh from  Rs 20 lakh during...

Reduction of GST rates – Impact on SMEs and Government

The 31st GST council meeting was successfully fulfilled regarding the central government’s objective of cutting GST rates. In this meeting the decision was taken to reduce GST rates more than 20 goods and other services. Besides reduction in rates, the...
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Latest News

GeM Partnership with Sikkim: Boosting Digital Procurement Across India

The Indian government’s public procurement portal, Government e-Marketplace (GeM), has recently signed a landmark agreement with the Sikkim government....
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