GST News

Form GST Tran 1 extended to 30th Nov

FORM GST TRAN - 1 (with revision facility) extended to 30th November 2017. Suitable order will be issued shortly.

Merchant exporter can purchase goods by paying 0.1% GST now

EPCH hails GST notification to ease procedure for merchant exporters The Export Promotion Council for Handicrafts has welcomed the Government�s decision to ease the procedure for merchant exporters. Handicrafts merchant exporters can now purcha

GST Revenue Collection figures stand at Rs 92,150 crore as on 23rd October

GST Revenue Figures – As on 23rd October, 2017 The total revenue of GST paid under different heads (upto 23rd October, 2017) for the month of September 2017 is Rs. 92,150/- crore. The total CGST revenue is Rs. 14,042 crore, SGST revenue is Rs.

Late fee on GSTR 3B filing waived

Slowdown effect of GST and demonetisation has played out says FM

The Finance Minister, Shri Arun Jaitley: Indian economy is poised for strong, sustainable and balanced growth backed by the Government of India’s strong focus on implementing structural reforms;There is clear evidence now that slowdown effect o

Impact of GST on leasing of vehicles before 1st July

Leasing of vehicles purchased and leased prior to 1st July, 2017 would attract GST at a rate equal to 65% of the applicable GST rate (including Compensation Cess). In order to provide relief to old/existing leases of motor vehicles, GST Council in it

GST rate structure for Petroleum and Oil Sector

To reduce the cascading of taxes arising on account of non-inclusion of petrol, diesel, ATF, natural gas and crude oil in GST and to incentivise investments in the E&P (exploration and production) sector and downstream sector, the GST Council in

No further 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 GSTR-1 return for July. Taxpayers who have no

Changes in GST Rates for Goods and IGST Rates on Imports of Goods

As per discussions held in the 22nd GST Council Meeting held under Chairmanship of Union Finance Minister Shri Arun Jaitley on 6th October, 2017, the following changes in GST rates for certain Goods and IGST rates on Imports of specified Goods have b

22nd GST Council Meet Highlights

GST Council meet dated 6th October 2017 .. Highlights : Traders with turnover of up to Rs 1.5 crore to file quarterly returns instead of monthly filings. Composition scheme threshold raised to 1 crore from 75 Lakhs. Nominal 0.1% GST on exports. Ex