GST Revenue collection for March’ 21 sets new record
The gross GST revenue collected in the month of March 2021 is at a record of ₹ 1,23,902 crore of which CGST is ₹ 22,973 crore, SGST is ₹ 29,329 crore, IGST is ₹ 62,842 crore (including ₹ 31,097 crore collected on import of goods) and Cess is ₹ 8,757 crore (including ₹ 935 crore collected on import of goods). The government has […]
System Changes form 1st April 2021 for Businesses
The new financial year starts tomorrow, and there are many activities to be done as per year ending for the organization. Apart from those year-ending activities, some changes must be done from 1st April 2021 with respective compliances from GST, Income Tax & MCA purposes. These changes are statutory for some and for some in […]
10 Points About Dynamic QR Code in GST
You can listen to the blog here Dynamic QR (Quick Reference) code is required to be shown on all Business to Customers Tax invoices issued by a registered taxable person whose turnover exceeds rupees five hundred crores during any of the last three financial years. Is there any difference between the QR code issued for […]
CAG Audit Report on GST
CAG has submitted an Audit Report on GST to Parliament for the period ending 31st March 2019 and 2020. The audit report can be accessed from here
Selection of Core Business Activity on GSTN Portal
Listen to the blog here GST has enabled a new feature on the GST portal. At the login time, the portal prompts the user to select the “Core Business Activity.” This is required for the department to understand the nature of the business carried out by the taxpayers. The portal prompts three options initially Manufacture […]
Important changes applicable from 1st of April 2021 in GST
Do not have time to read, you can listen to the podcast here From 1st April 2021, some changes are being made in Goods and Service Tax which taxpayers have to follow and implement the same. e-invoice e-invoice is required to be issued by all registered taxpayers having turnover above rupees fifty crores for all B2B […]
e-invoice threshold changes from 1st April 2021
e-invoice is being implemented in India very aggressively compared to other nations across the globe. Within a span of 6 months, we could see the changes in the threshold and also the number of e-invoices issued. It all started from 1st Oct 2020 for taxpayers having turnover above Rs 500 Crores. The same has been […]
GST Revenue collection for January 2021 almost touches ₹1.20 lakh crore
The gross GST revenue collected in the month of January 2021till 6PM on 31.01.2021 is ₹ 1,19,847crore of which CGST is ₹ 21,923 crore , SGST is ₹ 29,014 crore, IGST is ₹ 60,288 crore (including ₹27,424 crore collected on import of goods) and Cess is ₹ 8,622 crore (including ₹ 883crore collected on import […]
Change or Perish: New Year – New Resolutions in Business
The new year is around the corner, and we normally come across resolutions adopted by the people for the beginning. Now the same has intruded into the business, especially from the GST perspective. It is the time for the business to take resolution and then take it forward else the entrepreneur cannot reach his goals. […]
Generation of E-way Bills by Transporters for e-invoices
e-Invoice is launched on 1st Oct 2020 successfully for the tax payers having annual turnover more than Rs. 500 Crores. More than 33000 tax payers have accessed this system and generated more than 1250 Lakhs of IRN from the NIC portal, as on date. On average, 18 Lakh IRNs are generated daily. The NIC system […]