Gst Council Updates

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Gst council updates download. The genesis of the introduction of GST in the country was laid down in the historic Budget Speech of 28th Februarywherein the then Finance Minister laid down 1st April, as the date for the introduction of GST in the country. Thereafter, there has been a constant endeavor for the introduction of the GST in the country whose culmination has been the introduction of the Constitution. GST council meet live updates The Centre and Opposition-ruled states are in dispute over GST shortfall.

The GST Council meet to be held today promises to be stormy affair. AGENDA Covered in the Minutes of the 39th GST COUNCIL MEETI NG and Updates The implementation of the new GST return system has been postponed to 1st October the implementation of e-invoicing and the QR code has been postponed to 1st October The present return system (GSTR-1, GSTR-2A & GSTR-3B) will be continued until September GST COUNCIL UPDATES. Ma. GST Council Meeting updates-latest & last meeting. GST Council Meeting updates as per the last and latest meeting held in India.

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GST Council Meeting Highlights: Single rate of 28% on both state-run and private lotteries, effective from Mar 1, Track this space for the latest updates on the GST Council meet on December The 39th GST Council meeting will be held on 14th March at Vigyan Bhawan, New Delhi. The Finance Minister Smt. Nirmala Sitharaman will chair & update the GST Council meetings recommendations to decide the future path of GST. Since the last few months, the government has seen the steep in the monthly revenue collection.

Following are the key decisions that took place in the 39th GST Council Meeting held on 14th March’ GST rates on mobile phones and notified parts was raised from 12% to 18%. GST rate on all kinds of matches (handmade and other than handmade) was uniformly fixed to 12%. Highlights of 38th GST Council Meeting - GSTR-9 and GSTR-9C due date for FY was extended. The GST Council decided to levy 28% tax on all lotteries.

Find more updates from the 38th GST Council Meeting Highlights. Blog on GST to keep you updated on latest Information related GST (Goods and Services Tax) and GST council meeting,e way bill and more. Peridot Version (Beta) is live now which offers bundle of new features like Search GSTIN by Name/PAN, Scan QR Code, Create watchlist and many more.

On the 18 th of January,the GST Council conducted its silver jubilee meeting. The 25th meeting was a much awaited one, as it was being held days before the annual budget, and many were expecting some major GST Council updates in terms of returns being simplified, introduction of some sectors into GST and most importantly further rate cuts.

GST Council Meet Approves Extension of Compensation Cess BeyondSay Sources. The GST Council will also take up a proposal to extend the GST compensation cess by two years to and set up a committee to look at the changes needed.

October 5,IST explore: Business. 42nd GST Council Meeting Updates 42nd GST Council Meeting was held on Monday,05th October The virtual meeting was held under the chairmanship of Finance Minister Nirmala Sitharaman. The last GST Council Meeting i.e 41st GST Council Meeting which was held on 27th August   GST Portal Grievances: Work will continue with regards to redressing the grievances caused to taxpayers, due to the IT glitches at the GST portal, as per the GST Council meeting updates.

The GST implementation committee has been tasked with the work of expediting such complaints and take measures to bring in the necessary corrections. 42nd GST Council Meeting Updates “GSTR1 and GSTR3B which is to be filed quarterly by the taxpayer whose turnover is less than Rs 5 crores from 1st Januaryalthough challan is the medium by which payment is to be made.”. Updates: GST Council meeting ends without any conclusion.

This comes after a long-drawn feud between state governments and the Centre that remain at loggerheads regarding GST compensation.!1 New Update Click here for latest updates.

PM. Wrap Up: All you need to know about the news that matter. Updates On The 42nd GST Council Meeting Octo The 42nd GST Council Meeting was held in New Delhi on 5 th October The meeting was chaired by the Union Finance Minister Smt.

Nirmala Sitharaman. 41st GST Council Meeting Updates: Centre presents 2 options of GST Compensation to States According to the Finance Minister, the compensation gap has risen this year due to the COVID Sangeeta Nair. Read Also: All Updates of 42nd GST Council Meeting on Returns and Compensation There is a 42nd GST Council meeting scheduled in the first week of October The meeting will be mainly focused to review the options provided.

Read more “We are open to anyone who wants us to facilitate any loan. A lot of people have chosen Option 1, and some. 30th GST Council Meeting update. The 30 th GST Council meeting date is today i.e 28 th September through Video Conferencing.

31st GST Council Meeting update. The 31st GST Council meeting date is 22nd December You must read the below updates of this meeting. This is very important update as far GST is concern. The GST Council also decided that the interest for delay in payment of GST will now be charged on the net cash tax liability instead of gross with effect from July 1, The law will be amended for this retrospectively. Highlights and updates from 37th GST Council Meeting | Keval Shah The article provides for an insight with respect to GST updates made on account of various announcements made by GST Council in its 37th meeting held on The amendments/changes are made by issuing various Notifications on and The GST Council will conduct the 38th GST Council Meeting on Wednesday, 18 December The important points to be focused in the meeting are; changes in GST rate, simplification of the upcoming new GST return system and relook into the cases of the inverted tax structure.

GST Council Meet Live Updates: The all-powerful GST Council decided to extend the tenure of National Anti-profiteering Authority (NAA) for a period of.

Here are the latest updates, for the GST Council meeting: Decisions taken: Levy of Compensation Cess to be extended beyond the transition period of five years i.e.

beyond Junefor such. GST Council Meeting LIVE Updates: Finance Minister Nirmala Sitharaman is chairing the meeting, which began at 11 am. The 41st GST Council will be chaired by Finance Minister Nirmala Sitharaman. The. GST Council meet live updates: The Goods and Services Tax (GST) Council meeting on Friday was held under the chairmanship of Finance Minister Nirmala their first meeting since a nationwide lockdown was implemented to prevent the spread of coronavirus, the members of the GST Council discussed issues over videoconference.

The GST Council further made the following suggestions after due discussions-Shri Nandan Nilekani would attend the next 3 meetings of the GST Council and update the council of the status of implementation of the decisions taken by the Council and assist the Council in taking appropriate decisions on technology-related issues. The 43 rd one-agenda, GST Council meeting was held on 12 th October The meeting was chaired by the Union Finance Minister Smt.

Nirmala Sitharaman. In continuation of the 42 nd meeting, the single point agenda for this meeting was the discussion of GST compensation cess.

While the Centre has already extended the tenure of GST compensation cess beyond June till such. GST Council Meeting Live Updates: Revenue collection severely impacted due to Covid, shortfall at Rs lakh crore The Goods and Services Tax (GST) Council on Thursday discussed states. GST council meeting updates gst council meeting lockdown Nirmala Sitharaman gst Indirect taxes (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily Market Updates &.

Goods and Services Tax News: Get latest GST news, GST announcement news, GST council meeting news, GST return news, GST bill updates, GST statutes, GST tariff and Goods and Services Tax Act news at Business Standard. Updates from 38th meeting of GST Council: Non-BJP ruled states said the union government may be headed for a sovereign default as it has refused to assure them of paying on time the GST dues. GST Council Meeting Updates: Divakar Vijayasarathy, Founder & Managing Partner, DVS Advisors LLP, said: "It was widely expected that the GST council.

Latest Updates on GST Council Meetings. As on 20th August 41st GST Council meeting will be held on 27th August via VC with the key item on agenda being the ways to compensate for the GST revenue shortfall to the states. As on 12th June 40th GST Council Meeting was held on Friday, 12th June via video conferencing. GST Council Meeting updates | Centre gives two options to States on GST compensation The Hindu Net Desk Aug IST Updated: Aug ISTAuthor: The Hindu Net Desk. GST Portal Grievances: Work will continue with regards to redressing the grievances caused to taxpayers, due to the IT glitches at the GST portal, as per the GST Council meeting updates.

The GST implementation committee has been tasked with the work of expediting such complaints and take measures to bring in the necessary Pramit Pratim Ghosh. 28 th GST Council Meeting: Updates.

Recommendation for changes related to Composition Scheme, RCM, Thresh hold Exemption, ITC, Supply Etc. Composition Dealers:; Upper limit of turnover for opting for GST Composition scheme to be raised from Rs. 1 crore to Rs. crore. The GST Council was unable to come to a consensus on the compensation borrowing options as no final decision was taken at the 42nd meet held on October 5. The next meeting has been scheduled for October However, in a relief to small taxpayers, the Council decided that the small taxpayers will be required to file returns quarterly.

The number of returns of small taxpayers will also. The GST Council took up the long-pending issue of Integrated Goods and Services Tax and decided to disburse Rs crore to all the states Author: Sangeeta Nair.

26th GST Council Meeting Updates. The 26th GST Council Meeting held on 10th MarchMajor recommendations were about E way bill implementation and GSTR 3B deadline extension. 25th GST Council Meeting Updates. 25th GST Council Meeting held on 18th January in Vigyan Bhawan, New Delhi. Major recommendations are. GST Council may rationalise tax rates on five sectors, including mobile phones, footwear and textiles, and defer implementation of the new return filing system and e-invoicing.

GST Registration process to be changed: GST Council Law Commitee Meeting update The Centre and states are looking to further tighten the GST registration process and legal measures to deal with the rising cases of fake invoicing. GST Council Meeting Highlights: The government announced relief for small taxpayers and also said that there will be no late fee for GSTR 3B return, which has no.

The latest tweets from @GST_COUNCIL. The GST Council's law committee has suggested that a fresh registrant must go for compulsory physical verification and personal identification in case opting for non-Aadhaar authentication based registration process and he or she does not have income-tax return supported adequate financial capability Get more India News and Business News on Zee Business.

Here are the highlights of GST Council meeting: #1) The GST shortfall in FY21 is expected to be around Rs lakh crore. This shortfall is due to Covid as well. Shortfall in compensation due to implementation of GST has been estimated to be Rs 97, crore.

GST Council Meeting Updates: The 41st meeting of the GST Council comes at a time when many states have complained of not receiving adequate funds as GST compensation. - Gst Council Updates Free Download © 2011-2021