Key Recommendations of the 54th GST Council Meeting Held on 09 September 2024
The GST Council has recently introduced a series of
significant recommendations designed to modify GST rates, streamline
compliance, and facilitate trade. Here’s a detailed summary of the key points
- 14th Sep 2024
- Category: Taxation
- views: 122
GST Welcome Letter to New GST Registrants
As a new GST registrant, receiving the GST Welcome
Letter from the tax authorities marks a crucial step in formalizing your GST
registration process. This letter serves as an official confirmation that you
are now registered under the Goods and Services Tax (GST) regime. It contains
key details such as your GSTIN (Goods and Services Tax Identification Number),
login credentials to the GST portal, and guidelines for filing returns and
complying with the GST law.
- 3rd Sep 2024
- Category: Taxation
- views: 105
Missed Filing Your Income Tax Return? Here's What You Can Do After July 31
If you missed the July 31 deadline to file your
income tax return, don't worry—you're not alone, and more importantly, you're
not out of options. The government provides avenues for late filers to still
comply with tax obligations, though there are some important considerations to
keep in mind.
- 20th Aug 2024
- Category: Taxation
- views: 121
Understanding the Composition Scheme under GST: A Simplified Taxation Approach for Small Businesses
The Composition Scheme
under GST is a simplified tax mechanism for small businesses in India. It
allows eligible businesses to pay a fixed percentage of their annual turnover
as tax, instead of regular GST rates, to reduce the compliance burden. This
scheme is designed to make tax payments easier for small businesses by
streamlining the process and minimizing the complexities involved in filing
returns and maintaining records.
- 16th Aug 2024
- Category: Taxation
- views: 118
