Published By: Business Desk Last Updated: September 18, 2023, 07:00 IST It is important that people registering for GST must complete the GST REG-01 form. Every dealer whose annual turnover exceeds Rs 20 lakh (Rs 40 lakh or Rs 10 lakh, depending on state and type of goods) is required to register for GST. The…
The finance ministry has notified 31 benches of the GST Appellate Tribunal (GSTAT), which will be set up in all states and Union Territories. Setting up of state-level benches of GSTAT would help businesses by way of faster dispute resolution. Currently, taxpayers aggrieved with ruling of tax authorities are required to move the respective High…
Mera Bill Mera Adhikar Scheme on GST Invoicing. The Mera Bill Mera Adhikar scheme is expected to encourage consumers to nudge the retailers or sellers to ask for bills in compliance with GST if applicable to such sellers Have you ever imagined winning a 1 crore prize money for a Rs 500 bill you just…
Published By: Mohammad Haris Last Updated: September 03, 2023, 12:35 IST Businesses can claim input tax credit on items, like gold coins and white goods, procured for distribution to dealers upon achieving pre-specified sales targets as part of promotional schemes, a GST advance ruling authority has ruled. The Karnataka-bench of the AAR (Authority for Advance…
GST collections in August 2023. GST revenues during June 2023 quarter grew by more than 11 per cent. This translates into a tax:GDP ratio of more than 1.3 GST collections in August 2023 jumped 11 per cent year-on-year to about Rs 1.6 lakh crore on the back of increased compliance and less evasion, Revenue Secretary…
GST invoice incentive scheme: Mera Bill Mera Adhikaar Mera Bill Mera Adhikaar: This GST invoice incentive scheme has been introduced by the government to encourage the culture of customers asking for invoices/bills for all purchases Mera Bill Mera Adhikaar, GST Invoice: Do you want to win a cash prize of up to Rs 1 crore…
Form DRC-01C is the latest form for auto-intimating GST taxpayers for return mismatches. A notification this month proposes to amend the Central Goods and Services Tax Rules with one specific new form called DRC-01C, check details about it The 50th GST Council meeting last month witnessed several new updates and changes to the GST law….
New Delhi: Individuals may soon get rewarded for uploading GST invoice on a mobile app as the government is likely to launch the long awaited ‘Mera Bill Mera Adhikar’ scheme soon. Under the invoice incentivisation scheme, cash prize of Rs 10 lakh to Rs 1 crore monthly/quarterly could be given to individuals who upload invoice received…
The GST Council in its 51st meeting on Wednesday, August 2, retained its decision to impose a 28 per cent tax on online gaming. However, Finance Minister Nirmala Sitharaman said the tax would be on the initial amount paid on the game and not on the total value of each bet placed. The gaming industry…
Last Updated: August 08, 2023, 22:04 IST Skill gaming online sports platform Mobile Premier League laid off around 350 people, which also represents almost 50 per cent of its Indian workforce, an internal company mail said. MPL Co-Founder Sai Srinivas informed their employees in a circular that it was confirmed last week that a 28…