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Tax Audit due date extension AY 2019-20

    

GST Council 37th Meeting Update

    

Corporate tax rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies and other fiscal reliefs

    

Fake Input and refund of IGST on exports - crackdown by DGGI and DRI

    

GST Council may Scrap GSTR-9 and GSTR-9C for FY 17-18 for small taxpayers upto 5 crore turnover

    

Changes in 36th GST Council Meeting held on 27th July 2019

    

CMP-08 due date for quarter April 2019 to June 2019 extended till 31st July 2019

    

Press Release restricting the last date for availing ITC for FY 2017-18 is illegal : Gujarat High Court

    

Budget 2019 Highlights - 05 July 2019

    

Transfer of GST amount from one head to other head (Form GST PMT - 09)

    

DGGST arrests one person for availing and passing fake ITC of Rs.16 Crore.

    

Notification issued to extend the date of blocking and unblocking on e-way bill facility to 21.08.2019.

    

Press Release of 35th GST Council Meeting held on 21st June 2019

    

Issues reported in filing Form GSTR 9C by the taxpayers : Advisory by Team GSTN

    

Issues reported in filing Form GSTR 9 by the taxpayers: Advisory by Team GSTN

    

New GST Return Transition Phase applicable from Oct 2019

    

Latest amendments in GST enacted on 07.03.2019

    

Recommendations of the 33rd GST Council meeting held on 24.02.2019

    

GSTR-3B due date for January 2019 has been extended upto 22.02.2019

    

New GST Input-Output Set off Rules w.e.f. 01.02.2019

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Major decisions taken in 32nd GST Council Meeting
 
Effective date for various GST Amendments Act:
Changes made by CGST (Amendment) Act,2018, IGST (Amendment) Act, 2018, UTGST (Amendment) Act, 2018 and GST (Compensation to States) Amendment Act, 2018 would be notified w.e.f. 01.02.2019.
 
GST Registration Limit:
There will be two exemption limits: Rs 40 lakh will apply to major states while the same has been capped at Rs 20 lakh for hilly states including those in the northeast.
 
New Composition Scheme for Service Sector to be introduced:
The composition rate for services sector has been fixed at 6 per cent while the composition limit has been set at Rs 50 lakh.
 
Composition Scheme limit enhancement for Traders and manufactures:
From April 1, 2019, the composition scheme limit will be increased to 1.5 crores. 
 
Composition Scheme Return to be filed on annual basis only:
Those who come under the composition scheme will pay tax quarterly, but the return will be filed only once a year. 
 
Calamity Cess to be levied in Kerela:
The Council also approved recommendations pertaining to calamity cess in Kerala. The state government will now levy 1 per cent calamity cess for a period of two years on products and services to fund rehabilitation in the state.
 
Official Notifications to be followed soon.


ID: 483 | Date 10-01-2019 | Posted By:

CA Mohit Jain

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Comment By: Chandrashekhar S N | Date: 10-01-2019
It's really nice and gud news for the small scale business,who file their return once in year and tax deposit caluse will be same

Comment By: Yash Paul | Date: 11-01-2019


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