GST

  GST stands for Goods and Services Tax, which is a unified indirect tax system implemented in India from 1st July 2017. GST is levied on the supply of goods and services across the country and has replaced multiple indirect taxes like excise duty, service tax, VAT, and others. Under GST, all goods and services are categorized into five tax slabs - 0%, 5%, 12%, 18%, and 28%, based on their nature and usage. In addition to these tax slabs, certain goods and services are also exempted from GST. GST is a destination-based tax system, which means that the tax revenue is collected by the state where the goods or services are consumed, rather than the state where they are produced. GST is administered by the GST Council, which is chaired by the Union Finance Minister and comprises representatives from all the states and union territories. To comply with GST regulations, businesses need to register for a GST identification number (GSTIN) and file regular GST returns. GST has simplified th...

  1. How to opt for the Composition Scheme in GST? You can opt for the Composition Levy under GST if you are a regular taxpayer with an aggregate annual domestic PAN-based turnover as specified from time to time. However, you cannot opt for the Composition Levy if you are/you make:

  G.S.R.....(E).— In exercise of the powers conferred by the first proviso to sub-rule (3) of rule 61 of the Central Goods and Services Tax Rules, 2017, the Commissioner, on the recommendations of the Council, hereby extends the due date for depositing the tax due under proviso to sub-section (7) of section 39 of the Central Goods and Services Tax Act, 2017 in FORM GST PMT-06 for the month of April, 2022 till the 27th day of May, 2022.

 Dear Friends You should be happy as due date of APRIL 22 is extended for GSTR 3B as old due date was 20 the may 2022 but now new date is 24th may 2022. here i am sharing you notification copy for record purpose and study purspos