Author: Chandan Tiwari

GST Council recommends relief in GST on Circus, Dance and Theatrical Performances

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Threshold Exemption under GST for admission to such cultural and sports events in the country increased from Rs. 250 to Rs. 500 per person In its Meeting held on 18th January, 2018, the GST Council has recommended that for the purpose of GST exemption, the threshold price limit of Admission Ticket for circus, dance,theatrical performances including…

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GST, Media

Resident Welfare Associations (RWA) are liable to pay GST if monthly subscription from its members is more than Rs.7500 Per Month

Posted on By Chandan Tiwari 3 Comments on Resident Welfare Associations (RWA) are liable to pay GST if monthly subscription from its members is more than Rs.7500 Per Month

GST Council recommends granting relief from GST on services provided by the Resident Welfare Associations (RWAs) to their Members. Threshold Exemption Limit under GST for monthly contributions made by members for services provided by RWAs raised from Rs. 5,000 to Rs. 7,500 per month per person. n its 25th Meeting held on 18th January, 2018, the…

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GST, Media

Planning to Invest in Bitcoin? – Finance Ministry & RBI cautioned people of India to do at their own risk – Bitcoin is not a Legal Tender

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There has been a phenomenal increase in recent times in the price of Virtual ‘Currencies’ (VCs) including Bitcoin, in India and globally. The VCs don’t have any intrinsic value and are not backed by any kind of assets.Government Cautions People Against Risks in Investing in Virtual ‘Currencies’ –  Says VCs are like “Ponzi Schemes”. The…

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Media

Impact of GST on the Prices of Goods and Services

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Since GST bill has been introduced in the Parliament, economists across the country have started analyzing its impact on the economy. Recommended as the biggest reform of Indian economy, GST has a distinctive impact on every touch point from manufacturer and trader to buyer. Since it is about to proceed in the next couple of…

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GST

Inter-State E-Way Bill compulsory from 1st February 2018 – GST Council Decided in its 24th Meeting

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The 24th GST Council Meeting held on 16th December 2017, through video conferencing decides that Inter-State e-way Bill to be made compulsory from 1st of February, 2018. The System to be ready by 16th of January, 2018; The Uniform System of e-way Bill for Inter-State as well as Intra-State movement will be implemented across the…

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GST

Frequently Asked Questions (FAQs) with answers on GST

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Question 1. What is GST? How does it work? Answer: GST is one indirect tax for the whole nation, which will make India one unified common market. GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will…

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GST

Understanding the GST E-Way Bill – How Will It Work?

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Under the newly introduced GST regime, the transporters are required to carry an electronic or e-way bill at the time of moving the goods from one location to another. It is a mandatory requirement and the transporters, consignors, and consignees must comply with it. This is an online version of the earlier accepted Way Bill…

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GST, GST Advance Ruling Authority, GST E-Way Bill, GST Filing, GST Intelligence, GST On Trust, GST Rates, GST Registration, GST Revenue Collection, GSTR-1, GSTR-3B, ICSI, IGST, Marketing, Media

What is the Impact of GST on the Export of Services and Goods?

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Previously, the export of services and goods was subject to a levy of indirect taxes. Excise tax, customs duty, VAT, service tax, etc. was standard taxes charged from an exporter. Under the GST regime, all these taxes are subsumed into one. However, customs duty is an exemption and still levied on importers as usual. Currently,…

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CGST, GST, GST Advance Ruling Authority, GST Filing, GST Intelligence, GST On Trust, GST Rates, GST Registration, GST Revenue Collection, GSTR-1, GSTR-3B, IGST, SGST

Who Can Be Taxable And Liable for Registration Under GST?

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With the introduction of GST, there has been a lot of confusion about the different aspects of this tax regime that combined nine existing taxes into one. Here, we will discuss the taxable person who is liable to register under this law. Any person who carries any business at any location in India and is…

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CGST, GST, GST Advance Ruling Authority, GST Filing, GST Intelligence, GST On Trust, GST Rates, GST Registration, GST Revenue Collection, GSTR-1, GSTR-3B, IGST, Marketing, MCA, Media, SGST

GST Collection for the Period till 25th December 2017

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Gross collection of GST for the month of December 2017 has been Rs. 80,808 crores till 25th December 2017 Total Revenue Collection under GST: The total collection under GST for the month of December 2017 has been Rs. 80,808 crores till 25thDecember 2017. 99.01 lakh taxpayers have been registered under GST so far till 25th…

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GST, GST Advance Ruling Authority, GST Filing, GST Intelligence, GST On Trust, GST Rates, GST Registration, GST Revenue Collection, GSTR-1, GSTR-3B, IGST, SGST