What is GST Taxguru?

Goods and Services Tax - Importance of Merchant Export Scheme for Exporters after changes in GST Rate w.e.f. 18-7-2022 and Compliances thereon for the manufacturer and for the Exporter GST on Food Grains – The changes relating to the GST rate, in pursuance of recommendations made by the GST Council in its 47th meeting,

What are the new changes in GST 2022?

Amended GST Rates applicable from 18th July 2022

What are the new updates in GST?

(1) The 46th GST Council meeting was held on 31st December 2021 in New Delhi. Union FM Nirmala Sitharaman led meeting has decided to defer the GST rate hike to 12% for textiles. (2) CGST Rule 36(4) is amended to remove 5% additional ITC over and above ITC appearing in GSTR-2B.11-Aug-2022

Is Taxguru free?

https://taxguru.in provides free updates to Chartered Accountants, Company Secretaries, Tax Professional, Cost Accountants and other Account Professional on Amendments in Income Tax, Wealth Tax, MVAT, DVAT, PVAT, Company Law, Service Tax, ICAI Regulation, FEMA, RBI, Custom Duty, Excise, DGFT, SEZ, ICSI Regulation, CMA

How do I register with Taxguru?

Step 1: Go to the e-Filing portal homepage, click Register. Step 2: Select Register as Taxpayer and enter the PAN of the company. Click Validate. In case the PAN is already registered or invalid, an error message is displayed.29-Jun-2021

What are GST benefits?

GST has reduced taxes on certain goods by 2% and others by 7.5%, such as smartphones and cars. GST brings uniformity in the taxation process and allows centralised registration. This gives a chance to small businesses to file their tax returns every quarter via an easy online mechanism.

What are the 4 slabs of GST?

The GST council has fitted over 1300 goods and 500 services under four tax slabs of 5%, 12%, 18% and 28% under GST. This is aside the tax on gold that is kept at 3% and rough precious and semi-precious stones that are placed at a special rate of 0.25% under GST.

Is GST 12% or 18 %?

The GST rates of 5%, 12%, 18% and 28% on goods, were affecting consumers with several pros and cons on services. However, services such as healthcare and educational services were excluded from GST. The passed GST rates slabs from the GST council consists of NIL, 5%, 12%, 18%, 28% rates on different services.22-Jul-2022

What is current GST Rate?

In India GST rate for various goods and services is divided into four slabs: they are 5% GST, 12% GST, 18% GST, & 28% GST.Revision of GST Rates announced in the 37th GST Council Meeting.

What is RCM in GST?

Reverse Charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply.

What is new rule of ITC in GST?

According to the new rule, “20 per cent” ITC for non-invoice returns is now replaced with “10 per cent” ITC, effective from the 1st January, 2020. It means, from 1st January 2020, only 10% ITC shall be available to those taxpayers who fail to upload related invoices on the portal. Earlier this amount was capped at 20%.15-Feb-2022

What are the 3 types of GST?

Currently, the types of GST in India are CGST, SGST, and IGST. This simple division helps distinguish between inter-state and intra-state supplies and mitigates indirect taxes. To learn more, read about these three different types of GST.

How do I become a GST expert?

GST Practitioner – Application Procedure

Step 1: Log on the website.
Step 2: Click on the Register option.
Step 3: Registration Page appears.
Step 4: Select GST Practitioner.
Step 5: Select the State.
Step 6: Enter the Name.
Step 7: Enter the PAN.
Step 8: Enter the Email ID.

Where do I file GST?

www.gst.gov.in

How do I get my article published in Taxguru?

Consent for exclusive publication – It is to be ensured that the article is sent exclusively to TAXGURU.IN for publication on its website. The article must not have been published elsewhere, and must not have been or must not be sent elsewhere for publication, in the same or substantially the same form.25-Nov-2016

What is registration procedure in GST?

Do your KYC. Click on the authentication link received on GST registered email id and mobile numbers of promoters/partners. Select the consent for authentication and enter Aadhar number. Enter the otp received on mobile number and email id of authorized signatory registered at UIDAI and click on validate OTP.25-Aug-2021

How do I set up a company e file?

STEP 1: Get started by logging in. Go to www.sarsefiling.co.za.
STEP 2: Setting Up.
Step 3: Portfolio Management.
Step 4: Adding a portfolio.
Step 5: Going to the Portfolio.
Step 6: Select Organisation.
Step 7: Registration.
Step 8: Final Checks.

How do I register my business on new tax portal?

3. Step-by-Step Guide

Step 1: Go to the e-Filing portal homepage, click Register.
Step 2: Select Register as Taxpayer and enter the PAN of the company.
Step 3: Enter all the mandatory details like Name of Organization, DOI, Type of Company and CIN on the Basic Details page and click Continue.

What is GST concept?

GST, or Goods and Services Tax, is an indirect tax imposed on the supply of goods and services. It is a multi-stage, destination-oriented tax imposed on every value addition, replacing multiple indirect taxes, including VAT, excise duty, service taxes, etc.05-Jan-2021