Most recents (9)

Taxology India

@taxologyin

In the light of several changes in Reverse Charge Mechanism (RCM) like RCM on Residential Flat or RCM on renting of vehicle by corporate.

Lets understand the basic about RCM [ A 🧵]

#RCM #gst #incometax #gstcouncil @PratibhaGoyal @TaxationUpdates @caanuragwriter #company

Reverse charge is a mechanism where the recipient (buyer) of the goods or services is liable to pay GST to the government instead of the supplier.

Typically, the supplier of goods or services pays the GST on supply.

Under the reverse charge mechanism (RCM), the recipient of goods or services becomes liable to pay the GST, i.e., the chargeability gets reversed.

Read 6 tweets

CA Rohit kapoor

@whorohitkapoor

47th #GSTCouncil meeting updates

1) GST Council has agreed to allow e-commerce sellers in the composition scheme

2) GST Council allows amendments in GSTR-3B (monthly GST return to be filed by taxpayers)

#Gst

3) GST Council accepts to adopt GoM recommendations for e-way Bill generation for gold, gold jewellery and precious stones.

4) Annual return forms for FY22 to continue with some relaxations/ modifications

5) GSTN to take necessary steps to make available info related to all bank accounts Vs a particular PAN

Read 3 tweets

Moneycontrol

@moneycontrolcom

#GSTAt5: The Goods and Services Tax regime is set to complete five years on June 30. 🙌

On the run-up to its fifth anniversary, here's a 🧵of our best stories to bring you up to date with everything related to #GST.

Keep scrolling down 👇

#GSTAt5: It has been almost five years since the GST was introduced in India and it is now time to review whether one of the country’s most transformational tax reforms since Independence has delivered on its promise!

Read here 👇
moneycontrol.com/news/business/…

By: MS Mani ✍️ | #GST

#GSTAt5: All eyes are set on the 47th meeting of the all-powerful #GSTCouncil scheduled to be held over two days on June 28 and 29.

Here is a list of key announcements that are hoped for, and expected ⏬
moneycontrol.com/news/opinion/g…

@jaising_mahesh ✍️| #GST #GSTMeet

Read 6 tweets

Arvind Virmani, PhD

@dravirmani

An efficient #GST with high boyancy, needs uniform 15% rate on 3/4th of Goods & services, exemption(0%) on basic food, drugs, health services & education(~1/10 of G&S), & higher rates (avg 30% inclusive of cess) on cigarettes & Autos(~1/10th). Drop higher revenue/rate obsession

2/gst The #GSTcouncil's obsession with immediate revenue raising by increasing rates, is damaging macro economy, by negatively impacting MSME/informal employment, income & consumption, and doing long term damage to inclusive growth and sustained higher revenues for development

3/gst Though in normal circumstances I recommend revenue neutral reform, in current depressed environment, revenue negative reform of GST is preferable to revenue positive GST reform, because it will provide a demand stimulus which will quickly recover the short term revenue loss

Read 5 tweets

PIB in Maharashtra 🇮🇳

@PIBMumbai

45 वी @GST_Council बैठक अर्थमंत्र्यांच्या अध्यक्षतेखाली होत आहे

@nsitharaman बैठकीनंतर संध्याकाळी 6 च्या सुमारास पत्रकार परिषद घेतील

लाईव्ह अपडेट्स मिळवा @PIBMumbai वर

@airnews_mumbai

▶️@GST_Council बैठकीनंतर अर्थमंत्री @nsitharaman यांची पत्रकार परिषद पाहा

लाइव थोड्याच वेळात

नुकत्याच संपलेल्या 45 व्या @GST_Council च्या बैठकीचे परिणाम काय ?

थेट अद्यतनांसाठी पाहा @nsitharaman यांची पत्रकार परिषद

लाइव सुरु

Read 21 tweets

PIB in Maharashtra 🇮🇳

@PIBMumbai

45th @GST_Council meeting is being held, under the chairpersonship of Finance Minister @nsitharaman

FM will address a press conference after the meeting, tentatively at ⏰6 PM

Catch LIVE updates on @PIBMumbai, in this tweet thread🧵

@airnews_mumbai

Finance Minister @nsitharaman to address the media on the outcome of 45th #GSTCouncilMeeting, in an hour

Live from⏰6:30 PM

Stay Tuned for Updates 👇

🎥

📡Live Now📡

What are the outcomes of the just-concluded 45th @GST_Council meeting?

Stay tuned, for LIVE updates from the media conference by Union Finance Minister @nsitharaman

Read 37 tweets

BloombergQuint

@BloombergQuint

Finance Minister Nirmala Sitharaman (@nsitharaman) briefs the media after the 43rd #GSTCouncilMeeting. #BQLive

Read more: bit.ly/3oWNwKC twitter.com/i/broadcasts/1…

@nsitharaman Finance Minister assures states of discussion on compensation period under #GST, says Punjab Finance Minister Manpreet Badal (@MSBADAL). #GSTCouncilMeet

Live blog: bit.ly/3oWNwKC

Finance Minister Nirmala Sitharaman briefs on #GSTCouncilMeet decisions.

Live blog: bit.ly/3oWNwKC
Watch live: bit.ly/34sLuIE

Read 10 tweets

वसुसेन🔥

@realkunal7

मा.निर्मला सितारामनजी..देशाला खर्या अर्थाने दिशा देणारे जे ठराविक सर्वोच्च मंत्रीपदं आहेत त्यातल्या एका पदावर आपण विराजमान आहात..पण ज्यादिवशी पासुन आपण अर्थमंत्री पद धारण केले तेव्हापासून नेहमीच media समोर आपल्याला ऐकताना आपण मंत्री कमी आणि पक्षाच्या

प्रवक्त्या असल्याचा भास झाला..आणि माझ्या मताला बळकटी द्यायला आपल्या सभोवतालची मंडळी तेव्हढीच जबाबदार आहे..उदाहरणं देतो त्याशिवाय माझ्या thread ला आणि मताला बळकटी येणार नाही..
१)जेव्हा वाहनक्षेत्रात तीव्र मंदी कशामुळे चालुय अस विचारलं गेल तेव्हा आपण निरागसपणे म्हणालात,"ओला,उबर

मुळे वाहनांचा खप कमी झालाय,त्यांचा वापर वाढलाय म्हणुन कोणी गाड्या विकत घेईना"..मला वैयक्तिक वाटत की देशातल्या मेट्रो सिटी आणि महत्त्वाची शहर सोडली तर ओला,उबर दुसरीकडे कुठे अस्तित्वात नाही..मग त्याचा एव्हढा परिणाम कसा झाला?(माझ चुक असेल तर दुरूस्त करावे🙏)
२)देशात मंदी आलीय अस

Read 10 tweets

JayEnAar

@GorwayGlobal

A tweet thread on #India's #Government #Finances
1. They are in a deep mess. The #Punjab #FinanceMinister came out of a #GSTCouncil meeting to suggest that the #UnionGovt may be close to a #SovereignDefault, because it is unable to p[ay out to the States's their share of GST.

See this clip here:

https://twitter.com/CNBCTV18News/status/1207324856452186113?s=20

That may be hyperbole. A sovereign default is when the Govt is so cash strapped that it is unable to service its debt. I'm not sure India is anywhere near that dire situation as yet.
But that does not mean that the Public finances are rosy. In fact they are dire in the extreme!

Read 14 tweets

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