Category: GST

Recommendations of 43rd GST Council meeting

Highlights of Recommendations of 43rd GST Council meeting: Amnesty Scheme to provide relief to taxpayers regarding the late fee for pending returns. The late fee also rationalized for future tax periods. COVID-19 related medical goods including Amphotericin B for free distribution given full exemption from IGST up to 31.08.2021. Custom duty exemption is also given […]

Do’s and Don’t to be considered under GST

Goods and Services Tax (GST) is indirect taxation in India merging most of the existing taxes into a single system of taxation. GST is undoubted, one of the biggest fiscal reforms in India since Independence impacting each and every business whether small or large. With the introduction of GST, a new regime of business compliance […]

Composition Scheme under GST

GST subsumed a number of indirect taxes, making it easier for businesses to comply with the tax laws. But while larger businesses have the budget and resources to comply with the GST regulations, compliance was getting increasingly complicated for smaller entities. To make GST compliance easier for such small businesses, the GST Council introduced the […]

Consequences of the Cancellation of your GST Registration

I am here to discuss some important knowledge about the consequences of the cancellation of your GST registration. Most of the business house and the individual proprietor has done the GST registration after enforcement of GST Act, 2017.  GST is applicable from 1st July 2017 in India. The purpose of this article is not guide […]

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