Due date to file GSTR 3B extended to 28 August but it does not apply to all. Tax to be paid by 20th August.

The government on Thursday extended the deadline for businesses to file their goods and services tax (GST) returns for July, the first month since implementation of the indirect tax, in cases where transitional credit is to be carried forward by the tax payer through filing of TRANS-1. (Refer detailed guide on how to file GSTR 3B) For others, the due date remains 20th August 2017. Note: Due date to pay tax has not been extended. Tax is still required to be paid by 20th. Below mentioned press release by government yesterday made the intent clear: Concerns have been raised about the form for claiming transitional input tax credit not being available… Read More

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GST registration for business

GST registration for biz to reopen on June 25 as 1st deadline ends today If you have not been able to register for the Goods and Services Tax Network (GSTN) within the deadline ending on Thursday, do not panic! There’s one more chance coming your way as the registration for existing excise, service tax and value-added tax (VAT) payers will reopen on June 25. There are about 80 lakh excise, service tax and VAT assessees at present, of which 64.35 lakh have already migrated to the GSTN portal — the company that is readying the information technology backbone of the GST regime. The window for migration to the GSTN, which opened on… Read More

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GST return filing

Excel sheet format to come on June 25 Just five days before the Goods and Services Tax (GST) is rolled out, GST Network will on June 25 launch an offline excel sheet format for use by traders and businesses to upload sales data on the GST portal. Navin Kumar, Chairman of GST-Network, said the GST return forms for all kinds of trade/sales, including composition, e-commerce, non-resident taxable person, would be put up on GSTN website by mid of July. The GSTN is the IT backbone provider for the new indirect tax regime. As per the GST law, a return of all sales or trade made in a month have to… Read More

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Govt on Twitter in response to user queries

May 29, 2017 Yesterday government had started two twitter handles to take queries on Goods and Services Tax (GST). In a way it is a good medium to resolve ambiguity on GST. Five key clarifications issued via twitter handle are: 1. Cess under GST – CESS applicable under GST on luxury/ demerit items will be applied on base value and not on value inclusive of GST. i.e. An item with 28% GST and 15% Cess will have effective tax rate of 43% and not 47.2% 2. Registration window opening from June 1 is only for migration purposes. New registration would not be possible. 3. GST Return forms are likely to… Read More

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Understanding GST in Simple Way

India is notorious for its complex tax system. For new businesses and startups, it becomes impossible to navigate through various direct and indirect taxes. Constant changes to taxes like Service Tax are making things even worst. But now, the things are set to change with new Goods and service tax – commonly known as GST. Lets understand what is GST, how it is different from other taxes, GST applicability, GST rates, its impact on your business and latest updates about GST bill. To make things easy to understand, I will start with an example.. Mr. Sharma is a businessman who wants to start a business. For this he needs various raw materials… Read More

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GST rates for 98 categories of goods

The Goods and Services Tax (GST) council Thursday fixed tax rates on 1211 items, most of which will likely become cheaper. The Goods and Services Tax (GST) council on Thursday fixed tax rates on 1211 items, most of which will likely become cheaper as the new rates will be lower than the current effective levies. Here is the final list of GST rates for 98 categories of goods. Get the list here for download………. GST_chapter-wise-rate Follow more Directly in CBEC Follow us in :- Facebook

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‘Operation Clean Money’ Website Launched, Tax Defaulters To Be Rated

Finance Minister Arun Jaitley launched the Operation Clean Money website today on which the Income Tax department will put up reports of raids.           May 16, 2017 18:00 IST Operation Clean Money website will give details on process by which tax defaulters are identified. NEW DELHI: In its new campaign against black or untaxed money, the government will put up reports of raids on a website and also rate defaulters in various categories from high risk to very low risk. Finance Minister Arun Jaitley launched the Operation Clean Money website today. “We want to change habit from non-tax compliant to tax compliant,” said Sushil Chandra, chairman… Read More

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GST enrolment to restart in a few weeks: Finance Minister

  GST enrolment to restart in a few weeks: Finance Minister  May 09, 2017, 08.15 PM IST Economic Times NEW DELHI: The process to enroll taxpayers on the Goods and Services Tax Network (GSTN) portal, which was suspended on April 30, will start again in a few weeks, the revenue department said today. More than 60 lakh taxpayers enrolled on the GST portal between November 8, 2016 and April 30, 2017. The enrolment process closed with effect from May 1 and the data of all those signed the enrolment form would be migrated to the new GST system. The portal said the enrollment window will reopen at a later date for taxpayers… Read More

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GST – Goods and Services Tax

Here we have tried to give almost all details of GST available in CBEC follow this to have a concise Knowledge in GST. GST LAWS & RULES CGST ACT  :- Download  IGST ACT  :- Download UTGST ACT :- Download GST (Compensation to the States) Act :- Download   OVER VIEW OF GST   We are committed at FINCALE to provide you all updates given in CBEC time to time . Subscribe to our Blogs and Newsletter’s below to get updated. 11/05/2017 at 1307 IST Update From NDTV on 11/05/2017 13.07 IST    

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