Reading Time: 3 minutesSpecial Class of Registered Person under RCM, CBIC notifies Specified class of Registered Person liable to pay tax under RCM u/s 9(4) of the CGST Act, 2017 w.e.f. April 01, 2019 The Central Board of Indirect Taxes and Customs vide Notification No. 07/2019 – Central Tax (Rate) dated March 29, 2019 notified the specified class
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Reading Time: 4 minutesFree accounting software, Small and Medium Business were demanding support from Government for the Accounting software as the several small taxpayers were unable to afford Popular Accounting and Taxation Software Like Tally,Busy , Marg Etc because starting range for these software are from Rs 20000.00 (Twenty thousand only ) per year , which is a
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Reading Time: 4 minutesTransfer of ITC on the death of proprietor, The Central Board of Indirect Taxes and Customs, vide Circular no 96/15/2019-GST has clarified regarding Change in the ownership of business due to death of the sole proprietor, in the registration form, GST REG-01 to be filed electronically in the common portal. The legal heir of the
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Reading Time: 2 minutesChanges in E-Way Bill System, The GSTN has made the below mention changes in the Eway bill system 1. Auto calculation of route distance based on PIN code for generation of EWB: E-waybill system is being enabled to auto calculate route distance for movement of goods, based on the Postal PIN codes of source and
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Reading Time: 4 minutesThe Decisions of the GST Council The Decisions of the GST Council in the 34th meeting held on 19th March, 2019 at New Delhi discussed the operational details for implementation of the recommendations made by the council in its 33rd meeting for lower effective GST rate of 1% in case of affordable houses and 5%
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Reading Time: 2 minutesReal estate sector is one of the largest contributors to the national GDP and provides employment opportunity to large numbers of people. “Housing for All by 2022” envisions that every citizen would have a house and the urban areas would be free of slums. There are reports of slowdown in the sector and low off-take
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Reading Time: 2 minutesGST Revenue Collections, The total gross GST revenue collected in the month of January 2019 is Rs 1,02,503 crore of which CGST is Rs 17,763crore, SGST is Rs 24,826 crore, IGST is Rs 51,225 crore (including Rs24,065crore collected on imports) and Cess is Rs 8,690 crore (including Rs 902crore collected on imports). In FY 2018-2019, it is for the third time that GST Revenue collection has crossed One Lakh Crore. The total number of
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Reading Time: 2 minutesGSTR-8, The Central Board of Indirect Taxes & Customs ( CBIC ) vide its order No. 02/2019-Central Tax dated February 01, 2019 has extended the due date for furnishing return in Form GSTR-8 to February 07, 2019 as the E-commerce operator were unable to obtain registration because of technical issues being faced by them on the common portal but they collected the amount for
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Reading Time: 2 minutesFORM GST TRAN-1, The Central Board of Indirect taxes & Customs ( CBIC ) vide its Order No. 01/2019-GST dated January 31, 2019, extends the time limit for submitting the declaration in FORM GST TRAN-1 till March 31, 2019, for the class of registered persons who could not submit the said declaration by the due date on account of technical difficulties on
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Reading Time: 2 minutesGSTAT, Cabinet approves the creation of the National Bench of the Goods and Services Tax Appellate Tribunal (GSTAT) The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the creation of National Bench of the Goods and Services Tax Appellate Tribunal (GSTAT). The National Bench of the Appellate Tribunal shall be situated
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