online GST

Updates on GST Portal for August and July 2021

Online Legal India LogoBy Online Legal India Published On 11 Aug 2021 Updated On 06 Jan 2023 Category GST

Goods and Services Tax (GST) is levied after purchasing goods and services in the country. For the first time, GST was introduced in 2017. The benefit of  online GST is all the indirect taxes like VAT (Value Added Tax) have been replaced by GST.
Now, GST can be submitted with an online form as the facility has been started by the Govt. of India. Here one point to be noted is that both Public and Private Limited Company can make GST registration. The GST will come under Public Limited Company Registration

GST Tax Slabs

The GST tax slab has been divided into four categories and these are 5%, 12%, 18%, 28%. The point to be noted about GST is this particular tax can be levied on all products except petroleum, alcohol, and so on.

Now, you can have a look at CGST, IGST, and SGST. 

  • CGST- CGST or Central GST is a tax levied on the intrastate supply of goods and services. Both the Central Government and State Government agree to divide the tax collection and share the revenue in equal ways. 

Section 8 of the GST Act mentions that tax can be levied on the intrastate supply of goods and services without any problem but the tax cannot be more than 14%.

  • SGST- SGST or State GST falls under SGST Act 2017. SGST is levied by the State Government. After SGST is collected, it is deposited on the accounts of the State Government.
    The special feature of SGST is each state of India has its own SGST rule. SGST is not applicable if the turnover per annum is not up to the prescribed limit.
  • IGST- The IGST or Integrated GST is collected and equally divided between Central Government and State Government. IGST is applicable for both the export and import from India.
    The one point to be noticed for IGST is the state which is importing products is bound to avail of the IGST tax benefits.

In brief, this is a brief description of GST, tax slabs associated with GST, and how to make GST apply online. All these GST-related decisions have been taken by the GST council.

Now, you can have a look at what's new and has been included in the GST portal for July 2021. 

Online GST Registration

Updates in the GST portal for July and August 2021 

Have a look at GST portal updates for July and August 2021.

  • 5th August 2021

The CBIC (Central Board of Indirect Taxes and Customs) has removed the eway bill creating facility till the 15th of August for the taxpayers.

  • 3rd August 2021 

The GSTR 9 annual return form is available for e-filing for FY21 on the GST web portal.

  • 28th July 2021

The CBIC (Central Board of Indirect Taxes and Customs) has introduced AATO (Annual Aggregate Turnover) for taxpayers on the GSTN portal.

  • 18th July 2021

Rajasthan High Court, with an official letter to the GST department, has asked the reason for the rejection of SVLDRS 1 (Sabka Vikas Legacy Dispute Resolution Scheme).  

  • 16th July 2021

The central government has offered Seventy-Five Thousand crore rupees to the respective state governments with the intention of economic recovery.

  • 12th July 2021

CBIC arranged webinar for GST return, ledger, and payment on GST portal.

  • 6th July

PIB (Press Information Bureau) has revealed the GST collection report for June 2021. The PIB report states that India’s total GST collection for June is Ninety-Two thousand eight hundred forty-nine crore.

How Online Legal India™ Can Help You In GST-related Matters?

While GST returns have turned mandatory, you can take help from Online Legal India™ experts for GST registration. Interstate business can only be done after making GST registration

Obtaining a GSTIN number will be mandatory whenever your business turnover will exceed Rs. 20 lakh. The Online Legal India™ taxation experts will help you with GST registration verification, GST Filing, or GST Modification. You have to just file the documents and make the minimum payment to make the GST requirements done. The private limited company can also file GST after  Incorporation of Private Company.  

Conclusion   

After the introduction of GST in India, businesspersons have admitted that indeed, GST has done many benefits to them as it has excluded several indirect taxes, like, VAT (Value Added Tax). 

But a business person or a company has to go through the GST registration process, at first, before availing the facility of GST benefits.

 


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