GST Collection May 2023 has exceeded 1.5 lakh crore for 5th time since inception of GST GST Collection May 2023 as compared to same month of last year Here the GST revenue Collection 2023 is compared with the same month of last year. That means, it is compared with GST Collection May 2022. GST Revenue … Read more
This articles covers the latest gst updates summary May-2023. It contains all the Notifications and Circulars issued in May-2023 which covers all GST Updates May-2023. All these amendments have been presented hear topic wise and reference of relevant latest gst notifications and latest gst circulars have been given at bottom of each topic. As well … Read more
Government has issued Advisory on due date extension of GST Returns for the state of Manipur. Vide Notification No.11/2023 – Central tax 12/2023-Central Tax and 13/2023-Central tax , all dated 24th May 2023, the government has extended the due date of filling GSTR-1 , GSTR-3B & GSTR-7 of April-2023 tax period till 31st May 2023for … Read more
Government has issued GST Advisory on Filing Declaration In Annexure V by Goods Transport Agency (GTA) opting to pay tax under forward charge mechanism on 30-05-2023.The GTAs, who commence business or cross registration threshold on or after 1st April, 2023, and wish to opt for payment of tax under forward charge mechanism are required to … Read more
Government has issued GSTN Advisory 2023 which contains that it has been decided by the competent authority to defer the imposition of time limit of 7 days on reporting old e-invoices on the e-invoice IRP portals for taxpayers with aggregate turnover greater than or equal to 100 crores by three months. In this regard, the … Read more
During a meeting on Saturday, Finance Minister Nirmala Sitharaman instructed the Central Board of Indirect Taxes & Customs (CBIC) to commence GST scrutiny 2023 and implement an automated GST return inspection mechanism by the following week For the fiscal year 2022-23, the overall amount of Indirect Tax revenue collected was Rs 13.82 lakh crore, an … Read more
New GSTN advisory 2023 urge tax payers to file their returns on time. It has been observed that some taxpayers faced difficulty in filing GSTR-3B of March 23’ period on 20th April 2023’. On analysing the reasons, it was noted that large number of tax payers attempted to file GSTR-3B returns in the afternoon of … Read more
In order to make GST Scrutiny 2023 more systematic, on Saturday, Finance Minister Nirmala Sitharaman instructed the Central Board of Indirect Taxes and Customs (CBIC) to introduce an automated system for scrutinizing goods and services tax (GST) returns by the following week. she also directed them to develop a plan that utilizes technology to expand … Read more
The GST portal has issued GSTN Updates April 2023to verify document Reference Number (RFN). The GST portal (“System”) generates various documents, such as notices/ orders, etc which are communicated to the taxpayer. Most such documents have a system-generated unique identifier DIN (Document Identification Number)/ RFN (Reference Number). These documents, by virtue of being generated by … Read more
GST Collection April 2023 is all time high & more than the next highest collection of Rs. 1,67,540 crore in April 2022 GST Collection April 2023 as compared to same month of last year Here the GST revenue Collection 2023 is compared with the same month of last year. That means, it is compared with … Read more