GST News

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 34/2019 - Central Tax New Delhi, the 18th July, 2019 G.S.R.......

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The Directorate General of GST Intelligence (DGGI),Gurugram Zonal Unitarrests one person for taking ITC fraudulently to the tune of more than Rs 5.06 Crore  The Directorate General of GST Intelligence (DGGI),Gurugram Zonal Unit, Gurugram has arrested one person namely Shri Ajit Jindal, Propr..

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Impact of GST on Apparel Sector

 13 July 2019 at 15:02

GST incidence of taxes on these goods. To reduce the cost of garment industry, GST rate on manmade fibre yarns has been reduced from 18% to 12%. Further, the refund of accumulated input tax credit on fabrics has also been allowed to reduce cost of fabrics which is a major input for garments. As p..

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Vide notification No. 02/2019-Central Tax (Rate) dated 07.03.2019, as amended by notification No.  09/2019-Central Tax (Rate) dated 29.03.2019, an Alternate Composition Scheme has been made available to those suppliers of Services or Mixed Suppliers, who were not eligible for the primary compos..

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The Government of India has been receiving a number of representations regarding Annual Return (FORM GSTR-9 / FORM GSTR-9A) and Reconciliation Statement (FORM GSTR-9C). In this regard the following clarifications are issued for information of all stakeholders: - a)  Payment of any unpai..

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Two years after GST : Arun Jaitely

 02 July 2019 at 12:18

Today, the Goods and Services Tax regime enters its third year. The monumental restructuring of one of the world’s clumsiest indirect tax system was not an easy task. The challenges to implement the GST were compounded by some outlandish and exaggerated comments of the not so well-informed. It..

Posted in GST  1 comments |   491 Views

GST Revenue collection for the month of June, 2019 stands at Rs.99,939 crore Total number of GSTR 3B Returns filed for the month of May up to 30th June, 2019 stands at 74.38 lakh Total gross GST revenue collected in the month of June, 2019 is ₹ 99,939crore of which CGST is ₹ 18,36..

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The Minister of State for Finance & Corporate Affairs, Shri Anurag Singh Thakur calls upon all the Officers of CBIC to make GST in India the best GST available in the world; GST Day Celebrations organized by the Central Board of Indirect Taxes &Customs (CBIC) on the 2nd Anniversary of GST..

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Introduction  In accordance with the provision of Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 the Micro, Small and Medium Enterprises (MSME) are defined according to their annual revenue (i.e. sales) of business. As approved by the Union Cabinet, Micro Enterprise is an ..

Posted in GST |   395 Views

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