Discover and read the best of Twitter Threads about #GSTcouncil

Most recents (9)

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 ЁЯз╡]

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

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

Keep scrolling down ЁЯСЗ
#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 countryтАЩs most transformational tax reforms since Independence has delivered on its promise!

Read here ЁЯСЗ
moneycontrol.com/news/business/тАж

By: MS Mani тЬНя╕П | #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 тПм
moneycontrol.com/news/opinion/gтАж

@jaising_mahesh тЬНя╕П| #GST #GSTMeet
Read 6 tweets
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
45 рд╡реА @GST_Council рдмреИрдардХ рдЕрд░реНрдердордВрддреНрд░реНрдпрд╛рдВрдЪреНрдпрд╛ рдЕрдзреНрдпрдХреНрд╖рддреЗрдЦрд╛рд▓реА рд╣реЛрдд рдЖрд╣реЗ

@nsitharaman рдмреИрдардХреАрдирдВрддрд░ рд╕рдВрдзреНрдпрд╛рдХрд╛рд│реА 6 рдЪреНрдпрд╛ рд╕реБрдорд╛рд░рд╛рд╕ рдкрддреНрд░рдХрд╛рд░ рдкрд░рд┐рд╖рдж рдШреЗрддреАрд▓

рд▓рд╛рдИрд╡реНрд╣ рдЕрдкрдбреЗрдЯреНрд╕ рдорд┐рд│рд╡рд╛ @PIBMumbai рд╡рд░

@airnews_mumbai
тЦ╢я╕П@GST_Council рдмреИрдардХреАрдирдВрддрд░ рдЕрд░реНрдердордВрддреНрд░реА @nsitharaman рдпрд╛рдВрдЪреА рдкрддреНрд░рдХрд╛рд░ рдкрд░рд┐рд╖рдж рдкрд╛рд╣рд╛

рд▓рд╛рдЗрд╡ рдереЛрдбреНрдпрд╛рдЪ рд╡реЗрд│рд╛рдд
рдиреБрдХрддреНрдпрд╛рдЪ рд╕рдВрдкрд▓реЗрд▓реНрдпрд╛ 45 рд╡реНрдпрд╛ @GST_Council рдЪреНрдпрд╛ рдмреИрдардХреАрдЪреЗ рдкрд░рд┐рдгрд╛рдо рдХрд╛рдп ?

рдереЗрдЯ рдЕрджреНрдпрддрдирд╛рдВрд╕рд╛рдареА рдкрд╛рд╣рд╛ @nsitharaman рдпрд╛рдВрдЪреА рдкрддреНрд░рдХрд╛рд░ рдкрд░рд┐рд╖рдж

рд▓рд╛рдЗрд╡ рд╕реБрд░реБ
Read 21 tweets
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 тП░6 PM

Catch LIVE updates on @PIBMumbai, in this tweet threadЁЯз╡

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

Live fromтП░6:30 PM

Stay Tuned for Updates ЁЯСЗ

ЁЯОе
ЁЯУбLive NowЁЯУб

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

Read more: bit.ly/3oWNwKC twitter.com/i/broadcasts/1тАж
@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 Image
Finance Minister Nirmala Sitharaman briefs on #GSTCouncilMeet decisions.

Live blog: bit.ly/3oWNwKC
Watch live: bit.ly/34sLuIE Image
Read 10 tweets
рдорд╛.рдирд┐рд░реНрдорд▓рд╛ рд╕рд┐рддрд╛рд░рд╛рдордирдЬреА..рджреЗрд╢рд╛рд▓рд╛ рдЦрд░реНрдпрд╛ рдЕрд░реНрдерд╛рдиреЗ рджрд┐рд╢рд╛ рджреЗрдгрд╛рд░реЗ рдЬреЗ рдард░рд╛рд╡рд┐рдХ рд╕рд░реНрд╡реЛрдЪреНрдЪ рдордВрддреНрд░реАрдкрджрдВ рдЖрд╣реЗрдд рддреНрдпрд╛рддрд▓реНрдпрд╛ рдПрдХрд╛ рдкрджрд╛рд╡рд░ рдЖрдкрдг рд╡рд┐рд░рд╛рдЬрдорд╛рди рдЖрд╣рд╛рдд..рдкрдг рдЬреНрдпрд╛рджрд┐рд╡рд╢реА рдкрд╛рд╕реБрди рдЖрдкрдг рдЕрд░реНрдердордВрддреНрд░реА рдкрдж рдзрд╛рд░рдг рдХреЗрд▓реЗ рддреЗрд╡реНрд╣рд╛рдкрд╛рд╕реВрди рдиреЗрд╣рдореАрдЪ media рд╕рдореЛрд░ рдЖрдкрд▓реНрдпрд╛рд▓рд╛ рдРрдХрддрд╛рдирд╛ рдЖрдкрдг рдордВрддреНрд░реА рдХрдореА рдЖрдгрд┐ рдкрдХреНрд╖рд╛рдЪреНрдпрд╛ Image
рдкреНрд░рд╡рдХреНрддреНрдпрд╛ рдЕрд╕рд▓реНрдпрд╛рдЪрд╛ рднрд╛рд╕ рдЭрд╛рд▓рд╛..рдЖрдгрд┐ рдорд╛рдЭреНрдпрд╛ рдорддрд╛рд▓рд╛ рдмрд│рдХрдЯреА рджреНрдпрд╛рдпрд▓рд╛ рдЖрдкрд▓реНрдпрд╛ рд╕рднреЛрд╡рддрд╛рд▓рдЪреА рдордВрдбрд│реА рддреЗрд╡реНрд╣рдвреАрдЪ рдЬрдмрд╛рдмрджрд╛рд░ рдЖрд╣реЗ..рдЙрджрд╛рд╣рд░рдгрдВ рджреЗрддреЛ рддреНрдпрд╛рд╢рд┐рд╡рд╛рдп рдорд╛рдЭреНрдпрд╛ thread рд▓рд╛ рдЖрдгрд┐ рдорддрд╛рд▓рд╛ рдмрд│рдХрдЯреА рдпреЗрдгрд╛рд░ рдирд╛рд╣реА..
рез)рдЬреЗрд╡реНрд╣рд╛ рд╡рд╛рд╣рдирдХреНрд╖реЗрддреНрд░рд╛рдд рддреАрд╡реНрд░ рдордВрджреА рдХрд╢рд╛рдореБрд│реЗ рдЪрд╛рд▓реБрдп рдЕрд╕ рд╡рд┐рдЪрд╛рд░рд▓рдВ рдЧреЗрд▓ рддреЗрд╡реНрд╣рд╛ рдЖрдкрдг рдирд┐рд░рд╛рдЧрд╕рдкрдгреЗ рдореНрд╣рдгрд╛рд▓рд╛рдд,"рдУрд▓рд╛,рдЙрдмрд░
рдореБрд│реЗ рд╡рд╛рд╣рдирд╛рдВрдЪрд╛ рдЦрдк рдХрдореА рдЭрд╛рд▓рд╛рдп,рддреНрдпрд╛рдВрдЪрд╛ рд╡рд╛рдкрд░ рд╡рд╛рдврд▓рд╛рдп рдореНрд╣рдгреБрди рдХреЛрдгреА рдЧрд╛рдбреНрдпрд╛ рд╡рд┐рдХрдд рдШреЗрдИрдирд╛"..рдорд▓рд╛ рд╡реИрдпрдХреНрддрд┐рдХ рд╡рд╛рдЯрдд рдХреА рджреЗрд╢рд╛рддрд▓реНрдпрд╛ рдореЗрдЯреНрд░реЛ рд╕рд┐рдЯреА рдЖрдгрд┐ рдорд╣рддреНрддреНрд╡рд╛рдЪреА рд╢рд╣рд░ рд╕реЛрдбрд▓реА рддрд░ рдУрд▓рд╛,рдЙрдмрд░ рджреБрд╕рд░реАрдХрдбреЗ рдХреБрдареЗ рдЕрд╕реНрддрд┐рддреНрд╡рд╛рдд рдирд╛рд╣реА..рдордЧ рддреНрдпрд╛рдЪрд╛ рдПрд╡реНрд╣рдврд╛ рдкрд░рд┐рдгрд╛рдо рдХрд╕рд╛ рдЭрд╛рд▓рд╛?(рдорд╛рдЭ рдЪреБрдХ рдЕрд╕реЗрд▓ рддрд░ рджреБрд░реВрд╕реНрдд рдХрд░рд╛рд╡реЗЁЯЩП)
реи)рджреЗрд╢рд╛рдд рдордВрджреА рдЖрд▓реАрдп рдЕрд╕
Read 10 tweets
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.
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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