The Indian Goods and Services Tax Council (GSTN) is considering bringing fuel into the GST net. Since the implementation of GST in 2017, it has been excluded and left to local states to tax. The GSTN is reviewing a single India-wide rate. This would require
Higher recent tax take gives green light for simplification of GST With India’s Goods and Services Tax fast approaching its July 2022 fifth anniversary, draft proposals are being drawn up for review by the supervising GST Council. These would aim to reduce the number of
India introduced mandatory B2B government pre-clearance electronic invoicing from 1 October 2020, completing the phased implementation by 1 April 2021. The latest Indian e-invoice threshold is ₹20 crore since April 2022 but will drop to ₹10 crore in October 2022. There are plans with the
5% GST on gig and sharing economy platform aggregators 1 January 2022 The Indian Goods and Services Tax Council (GST council) has extended the GST net to providers and online platforms offering the following services on their own account or via third-party merchants on their
The Indian Central Board of Indirect Taxes and Customs has extended the penalty amnesty on late Goods and Services Tax returns from 31 August until 30 November 2021. This gives some relief for businesses suffering from COVID-19 health and economic crisis. This covers the late
India celebrated the fourth anniversary 2017 implementation of Goods & Services Tax this month. It has proved a huge milestone in providing a business-friendly tax system which held back many parts of the economy. GST replaced a swath of Centre (Delhi federal govt) and States’
The Indian Goods and Services Tax latest filings deadlines have been extend in light of the emergency COVID-19 situation. Indian GST was introduced in 2017. The following extensions were provided by Central Board of Indirect Taxes and Customs (CBIC): May GSTR-1 deadline extended to 26
Update; The India e-invoice threshold was lowered to 20 Core 1 April 2022. The Indian Central Board of Indirect Taxes and Customs has lowered the annual sales threshold for mandatory GST e-invoices. Check VAT Calc’s global live VAT invoice transaction and e-invoice reporting tracker to see where else
The Indian Central Board of Indirect Taxes and Customs has lowered the annual sales threshold for mandatory GST e-invoices. Check VAT Calc’s global live VAT invoice transaction and e-invoice reporting tracker to see where else real-time submissions of invoices is being implemented. With effect from 1 April 2021,
GSTR 3B transaction draft report now available from tax authorities India is to introduce pre-filled Goods & Services transaction report, GSTR 3B, will now be pre-completed for taxpayers from 1 January 202. This is based on India e-invoice submissions and of all its suppliers filed
