Updates

Clarification for OEM owned moulds and dies sent on FOC basis

June 10, 2018

Circular No. 47/21/2018-GST 08th June, 2018 Important clarification for OEM owned moulds and dies sent on FOC basis Issue:-Whether moulds and dies owned by Original Equipment Manufacturers (OEM) that are sent free of cost (FOC) to a component manufacturer is leviable to tax and whether OEMs are required to reverse input tax credit in this […]

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Updated schedule of CGST rates on goods, as on 15.11.2017

November 17, 2017

The CGST rates on certain goods have undergone changes since the introduction of GST. The rate changes are given effect through amending notifications issued from time to time. A need has been felt to publish a consolidated rate schedule in a single document for ease of reference. Accordingly, this document has been prepared indicating updated […]

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GSTR-3B SEP 2017

October 15, 2017 Read More

Key Proposals by GST Council in its 22nd Meeting held on 06 OCT 2017

October 7, 2017

Key Proposals by GST Council in its 22nd Meeting held on 06 OCT 2017: (Source: Press Releases, dt.06-10-2017). 1. GST Rates reduced significantly on 27 Goods & 12 Services. 2. Turnover for composition scheme raised from ₹75 Lac to ₹ 1 Crores except the special category States but the turnover threshold for the states of […]

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Edit, submit & file GSTR 3B for July 2017

September 23, 2017

Now you can edit, submit & file GSTR 3B for July 2017 Taxpayers who have not set off their tax liability for GSTR 3B for July 2017 and have only done *‘Submit’* of their GSTR 3B, have now been given option to edit, submit and file their Returns. Some of relevant provisions of 3 B […]

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New e-WAY BILL SYSTEM INTRODUCED

September 11, 2017

New e-WAY BILL SYSTEM, A system for hassle free movement of goods throughout the Country with one e-Way Bill Tax Payers may note that e-SUGAM is being withdrawn from today. Please start using e-Way Bill system ONE TIME REGISTRATION: The GST tax payer can open the web site http://gst.kar.nic.in/ewaybill and select the option ‘E-Way Bill […]

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Highlights of the 21st GST Council Meet on 9th September 2017

September 9, 2017

*Highlights of the 21st GST Council meet held today* *1. Revised Due Dates for GST Returns for July, 2017* a) GSTR 1 – 10th October, 2017 GSTR 2 – 31st October, 2017 GSTR 3 – 10th November, 2017 GSTR 4 (for composition dealers) – 18th October, 2017 GSTR 6 – 13th October, 2017 b) Due […]

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Key takeaways from the Webinar on TRAN-1 organised by GSTN

September 7, 2017

Key takeaways from the Webinar on TRAN-1 organised by Goods and Services Tax Network 1. Revision of TRAN-1 form may be allowed in future, the matter is being contemplated by GST Council 2. Transitional credit under existing laws will be carried forward through two tables, 5(a) for Central taxes & 5(c) for States taxes 3.No […]

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Extension of GSTR Due dates for July & August month

September 4, 2017

GSTR Due dates for July & August month has been extended. GIC decides to extend Date of GSTR 1, GSTR 2 and GSTR 3 for the month of July to 10th, 25th and 30th September 2017 respectively.

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GST – Clarification on furnishing of Bond/Letter of Undertaking for Exports

August 12, 2017

in exercise of powers conferred under section 168 (1) of the Central Goods and Services Tax Act, 2017, for the purpose of uniformity in the implementation of the Act, following issues are being clarified hereunder: a. Eligibility to export under LUT: Notification No. 16/2017 – Central Tax dated 7th July, 2017 specifies conditions to be […]

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