Due Dates for May 2018 A. Due dates for Compliances under GST 10-05-2018- Due date for filing GSTR -1 for the month of March 2018. Applicable for taxpayers with Annual Aggregate turnover More than Rs. 1.50 Crore 20-05-2018- GSTR-3B for the m/o April. Also Pay due Tax till this date. 31-05-2018 – Due date of GSTR-6 (filed by an input service…
Read More1. LTCG Tax on equity investments The biggest change implemented this financial year is the reintroduction of the long term capital gains tax on stock market investments. 10% Long Term Capital Gains (LTCG) tax will be imposed on profits exceeding Rs. 1 lakh made from the sale of stocks and equity-oriented mutual funds that have…
Read MoreHow to Change Mobile Number or Email id on GST portal: Just follow the below mentioned steps: 1. Login to your account 2. Go to SERVICES-> REGISTRATION- > ADMENDMENT OF REGISTRATION NON-CORE FIELDS Note : If you are unable to edit anything then go to Services-> My Saved Application. Then click on Edit. 3. Go to…
Read MoreKEY changes in GST 23rd Council Meeting on 10.11.2017 (Will be applicable from the date of notification to be issued most likely from 15.11.2017) 1. Changes recommended in Return Filing Dates: i. All taxpayers (except Composition supplier) would be required to file return in FORM GSTR-3B along with payment of tax by 20th of the…
Read MoreGSTR-3B late fees waived for the month of August/ September 2017: In view of the difficulties being faced during the return filing process and in order to further facilitate taxpayers, the competent authority has decided to waive the late fee on filing of GSTR-3B for the months of August and September, 2017. The necessary software…
Read MoreMajor Decisions by GST Council on 06.10.17 The GST Council, in its 22nd meeting held at New Delhi on 6th October 2017, has recommended the following facilitative changes to ease the burden of compliance on small and medium businesses: COMPOSITION SCHEME: The composition scheme shall be made available to taxpayers including Jammu & Kashmir and Uttarakhand…
Read MoreVarious Exemption under GST: Under Section 11 of the CGST Act, 2017 the Central or the State Governments are empowered to grant exemptions from tax, subject to the following conditions: (i) Exemption should be in public interest (ii) By way of issue of notification (iii) On recommendation from the Council (iv) Absolute / conditional exemption may…
Read MoreRecent FAQs on GST: Replied by GOI 1. Do individual freelancers working for US client require GST Registration? Yes, as it is a interstate supply, registration is compulsory under section 24(i) of CGST Act, 2017 2. Service provided, GST on which is to be paid by receiver under RCM in which column this amount to…
Read MoreRecommendations made by the GST Council in the 21st meeting at Hyderabad on 09.09 2017 The GST Council, in its 21st meeting held at Hyderabad on 9th September 2017, has recommended the following measures to facilitate taxpayers: Sl. Returns Description Tax Period Revised Due Dates 1 GSTR-1 (Turnover > INR 100 Cr) Return for Outward Supply July,…
Read MoreGST Returns Due dates extended for: July 2017 GSTR-1- 10th September 2017 GSTR-2- 25th September 2017 GSTR-3- 30th September 2017 August 2017 GSTR-1- 5th October 2017 GSTR-2- 10th October 2017 GSTR-3- 15th October 2017
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