Be Careful When You File GST! This Error Can Lead To A Fine
GST: In a circular, the CBIC clarified that a taxpayer has to ascertain the eligible input tax credit from form GSTR-2A, which gets auto-populated by the virtue of a supplier...
Tagged: GST
GST benefit | How to claim Input Tax Credit: eligibility, conditions, exclusions
Input tax credit (ITC) is an essential element of GST which allows recovering tax paid on business expenses incurred in producing goods or rendering services. If the GST did not...
No GST on these Properties Big Relief for Home Buyers
No GST on these Properties In an effort to protect homebuyers from being fleeced by the unscrupulous builders in the name of GST, the finance ministry issued a clarification stating...
Government Extends Last Date To File GST Return
The Finance Ministry on Monday extended the last date for filing GST final sales return GSTR-1 for July 2017 to September 2018 period till October 31 and also waived the...
Government Clarifies GST Implication On Different Financial Services Through FAQ
After litigation issues around taxation on free banking services came to the forefront, the government on Sunday cleared the air. Financial services that remain out of GST ambit In the...
Cheque book issuance, ATM withdrawals likely to remain out of GST ambit
Free banking services like cheque book issuance and ATM withdrawals is likely to remain out of the ambit of the GST, a senior finance ministry official said. The Department of...
Companies get scrutiny notices for mismatch in GST returns
GST officers have started sending scrutiny notices to companies whose tax payment did not match the final sales return, after revenue authorities detected underpayment of GST by about 34 per...