Author Archives: taxgrid - Page 10
There might be GST rate cut on white goods making refrigerators, washing machines cheaper
After a reduction in GST rate on 178 items, another round of GST rate cut is being expected to lower the burden on White goods such as refrigerators and washing…
Establishment of National Anti-profiteering Authority under GST
Cabinet approves the establishment of the National Anti-profiteering Authority under GST PIB- (Release ID :173564) : The Union Cabinet chaired by the Prime Minister Narendra Modi has given its approval for…
How the excess balance amount in cash ledger paid wrongly through challan will be refunded
It's been almost five and a half month since GST has been implemented and still, we are in the stage of the returns cycle for the month of July. However,…
Raw cotton now taxable under reverse charge
Section 9(3) of CGST act provides that the specified goods and services shall be chargeable under reverse charge. Notification Central Tax (Rate) specifies the list of such goods. The Notification…
Amendments in exemptions as decided in GST council meeting
In the recent 23 GST council meeting, decisions were taken regarding substitution, insertion and omission of various exemptions. Notification in this regard has been issued by CBEC. Read the notification…
Amendments in GST rates made by GST council
In the recent 23 GST council meeting, changes were made in rates of various goods bringing down the burden on numberous goods from 28% to 18%. Notification in this regard…
Recommendations made by the GST Council in the 23rd meeting at Guwahati on 10th November, 2017
Press release has been made regarding the recommendations made by the GST Council in the 23rd meeting at Guwahati on 10th November, 2017. Read the press release below. TaxGrid…
Penalty amount reduced and Form GSTR 3B to filed till March 2018 and other compliance related decisions
GSTR3B has to be now filed till March 2018. Previously it was notified that Form GSTR3B has to be filed till December, 2017, but now the time period for furnishing…