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IMS and its significance
With the implementation of the IMS, changes in GSTR-3B format can be expected. Read more
GST Council introduces Reverse Charge Mechanism on metal scraps
Typically the seller charges the buyer for GST, but under the newly introduced RCM provision, the buyer will be responsible for paying the tax directly to the government. Read more
Reconciliations under the GST
Reconciliation under the GST is a critical activity that ensures the accuracy of the tax amounts credited or debited in the accounts of businesses.Read more
GOI to implement equal 5% GST on all aircraft and engine parts to boost industry
The uniform tax rate is expected to reduce operational costs, resolve tax credit issues, and attract investment in the MRO sector.Read more
Induction furnace owners seek GST protection amid complex SC challenges
Represented by the All India Induction Furnaces Association (AIIFA), the owners highlighted that locally sold scrap often lacks the necessary GST framework requirements or compliance, making it challenging to claim input tax credits.Read more
GST reporting window extended to 30 Days for over Rs 100 cr turnover firms
GST assesses will now have an extended period of up to 30 days to report their invoices on the e-invoice portal. These new regulations will take effect starting from November 1.Read more
Budget 2022 - ACMA: Ensure uniform 18% GST on all auto components
Automotive Component Manufacturers Association (ACMA) has recommended enhancement of RoDEPT rates and measures to encourage capital investment in auto component industryRead more
Udyam registration further simplified for unorganised MSME sector
The objective of the portal is to provide a single-page registration.Read more
Four logistics trends that can make supply chains cost-effective
To bring down the logistics cost from 14 per cent of the GDP to 10 per cent by 2022, the Indian supply chain networks need a plan to become an integrated and efficient distribution model that can effectively leverage the GST and other developmental policies, says Aditya Vazirani.Read more
COVID triggers mechanisation of warehouses
India's warehousing sector received institutional investment commitments of $6.5 billion after the GST implementation.Read more