The GST Council relaxed the tax exemption limit to Rs 40 lakh from the earlier cap of Rs 20 lakh during its 32nd meeting on Thursday. The all-powerful panel also decided to extend the composition scheme to traders from informal sector rendering services or mixed...
With the aim of having higher compliance, the government has announced a one-time late fee waiver for the returns filing under GSTR-1 for the period of July 2017-September 2018 until October 31 of this year. GSTR-1 is the return filed for claiming returns on sales...
Highlights of the meeting : Digital Payments : 1. Incentives in the form cashback will be offered on the GST component of the bill for payments made digitally. 2. Digital modes will include payments through – a. Rupay Debit card b. BHIM UPI c. UPI Aadhaar d. USSD...
The extended date of filing income tax returns (ITR) ended last night. The only exception for this is Kerala, where the due date has been further extended to September 15 in wake of the severe floods that created havoc in the state. Over five crore income tax returns...
With the extension of due date for filing tax returns, some simultaneous changes have also been made in the online and offline ITR forms, among others. Here’s all you need to know. All of you must be aware that for filing income tax returns for the...
The biggest indirect tax reform since 1947, GST bill is expected to bring about an economic integration of the Indian economy. GST will help consolidate and streamline the process of indirect taxation and make it easier and more effective. The tax payers will...
