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Synopsis of GST Notifications issued on 13th Oct 2017

Synopsis of GST Notifications  During the 22nd GST Council Meeting, many decisions have been taken to make the GST System simpler and more user-friendly. Some of the key decisions taken are like differing reverse charge till the end of April 2018, change in the reporting requirements for GST Taxpayers up to a turnover of Rs 1.5 […]

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No extension of last date for filing GSTR-1 for July, 2017

PRESS RELEASE 9 th October, 2017   No extension of last date for filing GSTR-1 for July, 2017 The last date for filing GSTR-1 for the month of July, 2017 is 10th October, 2017. An extension of two months has already been given. There will be no further extension given to taxpayers for filing their […]

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22nd GST Council Meeting Updates – Press Release

Recommendations made by the GST Council in its 22nd Meeting held today under Chairmanship of the Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley in the national capital. The GST Council, in its 22nd Meeting which was held today in the national capital under Chairmanship of the Union Minister of Finance and Corporate Affairs, […]

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FM: To reduce tax slabs in case of GST

FM: To reduce tax slabs in case of GST, we have to become revenue neutral plus; Inspects the Passing-out Parade of 67th Batch of IRS(C&CE) and delivers Valedictory Address; Calls for fair implementation of tax laws; Releases NACIN Coffee Table Book and Year Book on its Founding Day.  The Union Minister of Finance and Corporate […]

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Option to opt out of Composition Levy

Now option has been provided for the taxpayer to Opt out of the Composition Levy. It is now made available in the Registration Menu.

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Permission to display revised MRP due to Implementation of GST extends up to 31st December, 2017: Shri Ram Vilas Paswan

On account of implementation of GST w.e.f. 1st July, 2017, there may be instances where the retail sale price of a pre-packaged commodity is required to be changed. In this context, Hon’ble Minister for Consumer Affairs, Food & Public Distribution had allowed the manufacturers or packers or importers of pre-packaged commodities to declare the revised […]

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Clarification on Payment of Service Tax in Transitional Period

Clarification on Payment of Service Tax in Transitional Period  Certain transitional issues arising with respect to payment of service tax after 30th June 2017 have been clarified by CBEC vide circular dated 28-9-2017. It has been clarified that in cases where service was received before 1-7-2017 and payment for the value of the service was […]

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Editing of Core Fileds in the Registration

Application for Amendment in Registration Particulars (for both core and non-core) service is available on the portal now. Taxpayers who wish to change their particulars may do so now. To edit the fields, following the navigation path gst.gov.in – Services – Registration – Amendment of Registration Core Fields The core fields which can be amended are […]

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Notification Issued For GST Actionable Claim On Branded Food Products

The GST Council, in its 21st meeting held on 9th September, 2017 at Hyderabad has, inter alia, recommended that for 5% GST rate on cereals, pulses and flours etc. put up in unit container and bearing a registered brand name: a) A brand registered as on 15.05.2017 under the Trademarks Act, 1999 shall be deemed […]

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Clarification about Transition Credit

There are lot of speculations in the media about the credit of Rs. 65,000 crore claimed by taxpayers in respect of Central Excise and Service Tax in the pre-GST period. Some people are under the impression that because of Rs. 65,000 crore claimed as transition credit, the income of Government this month has plummeted. Firstly, […]

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