GST Council may consider modifying the monthly GST payment form

GST Council may consider modifying the monthly GST payment form Officials indicated that the GST Council is likely to take into consideration a suggestion for improvements to the GSTR-3B monthly tax payment form, which would include auto-population of outward supplies from sales returns and a non-editable tax payment table. With this change, the problem of … Read more

GST Council nominated Fitment Committee recommends a new margin scheme for tour operators

GST Council nominated Fitment Committee recommends a new margin scheme for tour operators The majority of tour companies pay GST at a rate of 5% without ITC. The argument made by the tour operators is that their effective GST tax rate is very high. Thus GST Council nominated Fitment Committee has recommended a new margin … Read more

Group of Ministers to Meet & Likely To Discuss GST Rate Rationalization on June 17

GST: Group of Ministers to Meet & Likely To Discuss GST Rate Rationalization on June 17 On June 17, the Karnataka Chief Minister Basavaraj Bommai-led Group of Ministers (GoM) is anticipated to meet. The GoM was established last year by the GST Council to offer suggestions for increasing revenue by rationalizing tax rates and addressing … Read more