August 31, 2022
Lots of recommendations, some in favour of the registered person and some against, were done vide the 47th GST Council Meeting. Two such favourable recommendations with regard to interest on late payment of GST were –It was recommended to notify section 111 of the Finance Act, 2022 at the earliest.Notably, vide section 111, provisions of
August 30, 2022
What is Goods Transport Agency (GTA)Under GST, ‘Goods Transport Agency’ means any person engaged in providing service in relation to transportation of goods by road and also issues a consignment note, by whatever name called. Goods Transport Agency under GST comes with latest amendment are going to discuss in descriptive manner what are they?Following two
August 17, 2022
We all know that new GST rates 2022 were finalised for goods and services on July 18, 2022. Changes to a note might help you to survive this new GST tax slab. The new goods and services tax (GST) rates are already in force. Following the latest changes, buyers would be required to pay GST on
August 17, 2022
47th GST council meeting was held on 28th June 2022 and 29th June 2022. Lots of amendments are carried out under Goods and Services Tax (GST) post the said GST Council Meeting. One such important amendment is partial withdrawal of exemption on services by way of GST on rent of residential property. It is important to note
August 17, 2022
In the present article, we will understand the Penalty for Fake Invoice in GST and go through the recent departmental clarification relating to demand and as applicable under fake invoice. Fake Invoice and Departmental Clarification The term ‘fake invoice’ is not defined under the Goods and Services Tax (GST) law. However, any invoice will be
July 25, 2022
Special Composition Scheme has been introduced and made effective, for Brick Kilns manufacturers and traders, from 1st April 2022. Notably, the government has come up with a new GST tax slab of 6% in latest news on GSTR 1 Filing for the said special composition scheme for Brick Kilns.Latest news on GSTR 1 filing newly