Key Recommendations in 47th Meeting of the GST Council – 28th and 29th June ,2022
The GST COUNCIL has made the following recommendation relating to changes in the GST rates on supply of goods and services and changes related to GST law and procedures: RECOMMENDATIONS RELATING TO GST RATES ON GOODS AND SERVICES Refunds of accumulated ITC will not be allowed on Edible oils and Coal Rate Rationalization to remove […]
FORM NO. INC-9 – Declaration by Subscribers and First Directors.
The Companies (Incorporation) Second Amendment Rules, 2022- substituted FORM NO. INC-9 – Declaration by Subscribers and First Directors. The Ministry of Corporate Affairs (MCA) vide its Notification dated May 20, 2022, has notified Companies (Incorporation) Second Amendment Rules, 2022.Through this amendment, the Ministry has substituted Form No. INC-9. The new form will be effective from 1st June […]
Relaxation in paying additional fees for LLP up to 30th June, 2022
Relaxation in paying additional fees in case of delay in filing Form 11(Annual Return) and all the event based e-forms by Limited Liability Partnerships up to 30th June, 2022The Ministry of Corporate Affairs (hereinafter referred to as “MCA”) in view of transition from version-2 of MCA-21 to version-3 and to promote compliance on part of […]
GST ON CRYPTOCURRENCY TRANSACTIONS
GST on CryptoCurrency – subject matter of dispute from the taxability Cryptocurrency is made up of two different words, “crypto” and “currency”. Hence, it can be said that cryptocurrencies are currencies that use the science of cryptography. This is because these currencies widely use encryption techniques. This means that encryption techniques are used for two […]
Maintenance work being scheduled on the e-Invoice System on 5th June 2022 between 9pm and 10pm
There is a maintenance work being scheduled on the e-Invoice System on 5th June 2022 between 9pm and 10pm. During this interval, the e-Invoice services will not be available for the GST taxpayers of the following states ONLY. Also please note that e-waybill portal and e-waybill APIs will function as usual without any problem for all […]
Addition of 6% tax rate in GSTR-1 online
GSTN added 6% tax rate in GSTR-1 on the GST Portal It may be noted that 6% tax rate has been added in the item details section of all the tables of form GSTR-1, except HSN table 12.In case your outward supplies attracts 6% tax rate, you are required to upload the details against 6% […]
₹1,40,885 crore gross GST Revenue collection for May 2022; increase of 44% year-on-year
GST collection crosses ₹1.40 lakh crore mark 4th time since inception of GST; 3rd month at a stretch since March 2022 Posted On: 01 JUN 2022 1:28PM by PIB Delhi The gross GST revenue collected in the month of May 2022 is ₹1,40,885 crore of which CGST is ₹25,036 crore, SGST is ₹32,001 crore, IGST is ₹73,345 crore (including ₹ 37469 crore collected on import of […]
Upcoming Important dates in June 2022 for compliance under Goods and Services Tax (GST).
GST Return Due date Description GSTR-1 (May, 2022) 11-06-2022 Turnover more than 5 crore or opted to file monthly return IFF(Optional) – May 2022 13-06-2022 Opted for Quarterly filing as per QRMP scheme GSTR-3B (May 2022) 20-06-2022 Turnover more than 5 crore or opted to file monthly return PMT-06 25-06-2022 Who has opted to file […]