IMPORTANT GST UPDATES |
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GST has become an indispensible aspect of Indian Business Thus, it has become more and more important day by day to remain updated on various changes made by Government in GST. Some of important major changes of GST are as follows:
Central Board of Indirect Taxes and Custom (CBIC) prescribes procedures for arrears recovery / inadmissible ITC reversal, detention & release of goods
CBIC prescribes detailed procedure for inspection, release & confiscation of goods / conveyances
Clarification regarding GST on supply of food and drinks in educational institutions
Clarification on issues related to furnishing of Bond/Letter of Undertaking (‘LUT’) for exports
Government sets up an IT Grievance Redressal Mechanism to address the grievances of taxpayers due to technical glitches on GST Portal
No IGST on overseas trading absent importation of goods into India
Recovery of canteen expenses from employees taxable under GST regime
5% Uniform rate of GST to apply in all railway catering services in trains or on stations
For any queries/clarification you may contact
Bharat Poplani
B.Com, FCA, LLB
+91-9646380245