The current GST on Hotel, Restaurant industries could be change soon, which would help the hotel and restaurant industries. The Ministry of Finance is actively considering the proposal to change the current GST structure. With an input tax credit (ITC) benefit, the Goods and Services Tax (GST) on hotels and restaurants could go up from … Read more
The value of the inter-state flow of goods in India increased to about 70% of GDP 2022 from nearly 55% of GDP in FY18, signalling increased economic integration among states after the goods and services tax (GST) was implemented According to a paper written by Bibek Debroy, chairman of the Prime Minister’s Economic Advisory Council … Read more
Crackdown on a Cyprus-based company for online gambling and GST Tax avoidance. A firm with its headquarters in Mumbai and registration in Cyprus was penalised by India’s Directorate General of GST Intelligence for operating an online gambling and betting website. The Directorate General of GST Intelligence has taken action against a Cyprus-based company known as … Read more
People with knowledge of the situation say that the Group of Ministers (GoM) that was set up to review the goods and services tax (GST) on online gaming, casinos, and horse racing is likely to keep the 18% tax on gross gaming revenue (GGR). The GoM, which is led by the chief minister of Meghalaya, … Read more
This articles covers gst updates march 2023. It contains all the Notifications and Circulars issued in March-2023 which covers all GST Updates March 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 Collection March 2023 has exceeded 1.4 lakh crore for twelve consecutive months.It is second highest gst collection ever. GST Collection March 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 March … Read more
The goal of this article is to cover all IGST notifications 2023. All IGST(Rate) Notifications issued in the year 2023 have been covered in this article. notifications on gst issued in the 2023 have been covered in this article. In addition gst notification 2023 latest pdf download facility has been provided in this article. Means … Read more
Government has issued GST Advisory for HSN Code Reporting in e-Invoice on IRPs Portal which are as under. 1. We would like to bring to your attention notification no. 78/2020 – Central Tax dated 15th October 2020. As per the above-said notification, it is now mandatory for taxpayers to report a minimum of six-digit valid … Read more
Government has issued GST Advisory for person wishing to register as “one person company” in GST. As per provision of section 2(62) of The Companies Act, 2013 “One Person Company” is defined as a company which has only one person as member. Some issues have been raised by the persons registering as ‘One Person Company’ … Read more
Now more ease in GST e-invoicing generating services to large tax payers. Clear Channel has opened its invoice registration platform (IRP), businesses throughout the nation can produce their electronic invoices for the goods and services tax (GST). Previously, only the NIC site could be used by businesses to generate these invoices. On the other hand, … Read more