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In an effort to further plug income leaks and ensure improved tax compliance from firms, the centre via notification number 17/2022 has made electronic invoicing essential for companies with annual revenues exceeding Rs 10 crore as of October 1. E-invoice…
The government clarified on August 12, 2022, via the official Twitter account of the Press Information Bureau Fact Check (@PIBFactCheck), in response to claims that the country’s house rentals may rise as a result of the new changes to the…
Finance Minister, Sitharaman, in the 47th GST Council Meeting claimed there were no disagreements from any side. All the states agreed to the proposals. There have been multiple GST council’s meeting from the day it was implemented, in continuation of…
An Advisory has been issued by the Goods and Services Tax Network (GSTN) on filing of annual returns by composition taxpayers in the case of negative liability in GSTR-4. The advisory has been issued because there are Instances where taxpayers are…
ITC Statement Form GSTR-2B has been made available on GST Portal for the taxpayers. The GST Council, in its 39th meeting held on 14th March 2020, had recommended to adopt and implement the incremental approach of linking the present system…
Now, Businesses with an annual turnover of up to Rs 40 lakh are GST exempt. Initially, this limit was Rs 20 lakh. Additionally, those with a turnover up to Rs 1.5 crore can opt for the Composition Scheme and pay…
The Composition Taxpayers can now prepare the Form GSTR-4 (Annual) using the offline utility for FY19-20. An EXCEL based offline utility (tool) has been provided on the GST portal for composition taxpayers to prepare their GSTR-4 (Annual) Return. Form GSTR-4…