-
May 26, 2022
Table of Content
Looking for the updates of the 25th GST Council Meeting? Here are the most important ones.
-
Late fee:-
The late fee payable by any registered person for failure to furnish FORM GSTR-1 (supply details), FORM GSTR-5 (Non-resident taxable person) or FORM GSTR-5A (OIDAR) is being reduced to fifty rupees per day and shall be twenty rupees per day for NIL filers. The late fee payable for failure to furnish FORM GSTR-6 (Input Service Distributor) shall be fifty rupees per day.
-
Cancellation Application for voluntary registrations:-
Taxable persons who have obtained voluntary registration will now be permitted to apply for cancellation of registration even before the expiry of one year from the effective date of registration.
-
Due date to cancel for migrated taxpayers:-
For migrated taxpayers, the last date for filing FORM GST REG-29 for cancellation of registration is being extended by further three months till 31 March 2018.
-
E-bill generation:-
The facility for generation, modification and cancellation of e-way bills is being provided on a trial basis on the portal ewaybill.nic.in. Once fully operational, the e-way bill system will start functioning on the portal ewaybillgst.gov.in
-
Modifications on e-way bills to be notified:-
Certain modifications are being made to the e-way bill rules which are to be notified nationwide for inter-State movement with effect from 01.02.2018 and for intra-State movement with effect from a date to be announced separately by each State but not later than 01.06.2018.
-
Handicrafts reports:-
The report and recommendations submitted by the Committee on Handicrafts were also accepted by the GST Council.
Hope this article was helpful. Refer to the topics discussed in the 26th GST council meeting
April 2, 2024 By Team Ebizfiling
Compliance Calendar For The Month of April 2024 As the new financial year begins in April, businesses and taxpayers around the country have new opportunities and responsibilities. It provides an excellent opportunity for strategic planning and budgeting, allowing businesses to […]
March 9, 2024 By Dharmik Joshi
Frequently Asked Questions on the GSTR 1 Form Introduction The Goods and Services Tax (GST) has significantly transformed India’s taxation landscape. Among the various GST forms, GSTR 1 holds a pivotal place. It is a return form that necessitates the […]
January 23, 2024 By Dharmik Joshi
GST LUT ઇન્વોઇસિંગ અને એકાઉન્ટિંગને કેવી રીતે અસર કરે છે? પરિચય GST LUT ઇન્વોઇસિંગ અને એકાઉન્ટિંગ પર નોંધપાત્ર અસર કરે છે, કારણ કે તે નિકાસકારોની તેમની નિકાસની ગણતરી અને જાણ કરવાની રીતને બદલે છે. સરકાર નિકાસકારોને GST LUT (લેટર ઑફ […]