This articles covers latest gst updates 2023. It contains all the Notifications and Circulars issued in February-2023 which covers all GST Updates February 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 as, … Read more
GST Portal Update in relation to option by Goods Transport Agency. On the GST portal GSTN Update is available. GSTN has enabled the option to file a declaration in Annexure-V to opt for payment under Forward Charge Mechanism (FCM) by Goods Transport Agency (GTA) on GST Portal. Last date for exercising the option of forward … Read more
The GST Department has summons to insurance intermediaries and aggregators due to fake invoices. The authorities in charge of the Goods and Services Tax (GST) have expanded their investigation into the bogus invoicing case involving insurance intermediaries and aggregators. In the last two weeks, they have issued summonses to several of them in order to … Read more
it is so crucial to impose 5% GST on natural gas to reduce fertilizer subsidies. Bringing natural gas under GST could put an end to the current differential taxation regime, as well as differing urea costs and subsidy payments across states. It will eliminate the tax-on-tax cascading effect. Finance Minister Nirmala Sitharaman has stated that … Read more
At the moment, GST on online gaming 18%. Since the Goods and Services Tax Council hasn’t set a date for its next meeting yet, the online gaming industry will have to wait longer to find out how the indirect tax will be applied to it. Officials from the Ministry of Finance have said that for … Read more
Merchandise exporters will have to pay an 18% GST on Shipping cost (means 18% gst on goods transportation services), which the industry says will cause cash flow problems at a time when exports are declining. This is in response to a GST Council recommendation that the location of the service recipient should be used to … Read more
As soon as the Center approves the final payment of GST compensation to the states, the new tax system will have abandoned its early support. The adjustment may be challenging for some states. Nonetheless, monthly GST receipts across the country have stabilised at around Rs 1.5 lakh crore, with room for growth through rate rationalisation … Read more
Co-working owners demanding for Easier GST Registration to Centre Tax experts and people who run co-working spaces have asked the Centre to make it easier for businesses that work from shared spaces to sign up for GST. The request comes after GST officers asked for a lot of paperwork, like registered leases and permission from … Read more
Till today several GST frauds disclosed. The trend of India’s monthly goods and services tax revenue reaching Rs 1.5 lakh crore and becoming the “new normal” has been applauded by the North Block. The Central Board of Indirect Taxes and Customs’ Vivek Johri professed confidence in breaking beyond this barrier in the upcoming fiscal year, … Read more
This article covers all recommendations of 49th GST Council Meeting held on 18th February, 2023 at New Delhi. The GST Council has met 49 times since its constitution, and many important decisions were taken in this 49th GST Council meeting. Last GST council meeting held in new Delhi on 17th December,2022. This 49th GST Council … Read more