This new feature represents a paradigm shift in how businesses view, verify and manage invoices. IMS offers a structured, transparent communication between sellers and buyers under the GST ecosystem.

Additionally, GST on packaged drinking water and bicycles under ₹10,000 is suggested to be reduced to 5%. The Group of Ministers (GoM) on GST rate rationalisation has postponed the submission ...

Also Read: Commercial property rentals now under Reverse Charge Mechanism: GST Council The builders said the move would substantially impact project costs and increase housing prices by ...

The GST Council is deliberating the issue of including Aviation Turbine Fuel (ATF) under the Goods and Services Tax (GST) framework, Business Today TV has learnt from sources. As per the ...

Finance Minister Nirmala Sitharaman said no decision has been taken on bringing ATF under GST umbrella and proposal to tweak rates on insurance products has been deferred. This announcement was ...

Unlike other business activities that have a turnover threshold for mandatory registration, export businesses must register for GST irrespective of their turnover. This is because exports are ...

The objective of the notification is to allow simplified access to GST invoices. The notification will come into effect on 1st April 2020. A GST Invoice is a document showing that a supply taxable ...

Shares of aviation companies like InterGlobe Aviation (IndiGo) and SpiceJet are likely to remain in focus today as the government, in its 55th GST Council meeting, may consider bringing ATF under the ...

It also discussed inclusion of Aviation Turbine Fuel (ATF) under GST, but deferred a decision since most states were not in favour of losing their right to tax it. What, however, caught attention was ...

In order to curb this revenue leakage, the government introduced a restriction under Rule 96(10). The government vide the 21st GST Council Meeting, established a committee to examine export-related ...