Arjun (Fictional Character): Krishna, the 40th GST Council Meeting was held under the chairmanship of Smt. Nirmala Sitharaman on 12th June, 2020. What recommendations has the GST council made on Law & procedure changes? Krishna (Fictional Character): Arjuna, the 40th GST Council meeting chaired by Union Finance & Corporate Affairs Minister Smt. Nirmala Sithraman through video conferencing was held on 12th June 2020. The GST council has made ..
Recommendations of GST council related to Law & Procedure Finance Minister, Smt. Nirmala Sitharaman chaired the 40th GST Council meeting via video conferencing today i.e. 12th day of June 2020. GST Council is meeting today for the first time after the nationwide lockdown. Key Highlights: 1. Reduction in Late Fee for past Returns: Late fee for non-furnishing FORMGSTR-3B for the tax period from ..
A. Reduction in Late Fee for Past Returns Late Fee for non-furnishing FORM GSTR 3B for the tax period July, 2017 to January, 2020 has been waived as under: NIL late fee if there is no tax liability; Maximum late fee capped at Rs. 500/- per return if there is any tax liability. The reduced rate of late fee would apply for all the GSTR-3B returns furnished between 01.07.2020 to 30.09.2020. B. One Time extension in period fo..
The 40th GST Council Meeting was held today that is on the 12th of June 2020 via video conference. The hon’ble FM chaired the Council Meeting at 11 AM. This was the first Council Meeting after the outbreak of COVID-19. Everyone had their eyes on the Council Meeting. On the one hand where taxpayers were expecting certain relaxations from the government. The government was looking out to generate some revenue sources. Here are the key decisions that were taken in the 40th G..
Finance Minister Smt.Nirmala Sitharaman will chair the 40th GST Council meeting via video conferencing at 11 AM in New Delhi today. The meeting will be attended by MOS Shri. Anurag Thakur besides Finance Ministers of States & UTs and Senior officers from Union Government & States. <img alt="40th GST Council Meeting to be held today" class="img-fluid" src="/editor_upload/40_20200612105301_easqg55vaaazxbu.jpg" title="40th G..
Over the past few days we saw a lot of GST Tax Practitioners as well as taxpayers demanding that the government should waive off late fees on GSTR-3B. This has been a persistent request from all the taxpayers. In this regard, the CBIC issued a notice addressing the taxpayers. In the notice, the government said that the issue regarding the late fee on GST will be addressed in the next GST Council Meeting. Here is the official press release: 1. In the recent past tweets have been noti..
The 39th GST Council meeting was held on 14 March 2020.The key recommendations made by the Council in the 39th GST Council Meeting...
The 39th GST Council meeting was held today i.e. 14th March 2020 at Vigyan Bhawan, New Delhi. The meeting was chaired by the Finance Minister Nirmala Sitharaman. The GST Council in its 39th meeting announced that due date to file GSTR 9 and 9C for FY 18-19 will be extended till 30th June 2020. The council also made the following decisions in the 39th GST Council meeting: 1. Interest to be charged on net cash liability with effect from 1/07/..
Update: The GST Council in its 39th meeting announced to extend the due date to file annual return for FY 18-19 to 30th June The 39th GST Council meeting was held today i.e. 14th March 2020 at Vigyan Bhawan, New Delhi. The meeting was chaired by the Finance Minister Nirmala Sitharaman. Tax practitioners and taxpayers had high expectations from the 39th GST Council Meeting as the meeting was held just two weeks before the due dat..