Skip to main content

Live : Press Conference by Union Finance Minister Nirmala Sitharaman after 53rd GST Council Meeting

 



---------------------------------------------------

   By  GST Info Tamil

   YouTube link for more tax update

   https://www.youtube.com/gstinfotamil?sub_confirmation=1

  WhatsApp update group         

   https://chat.whatsapp.com/ChcVTsYGAns9fvv16qcd8I                                                     


Comments

Popular posts from this blog

Timely Payments to MSMEs: Decoding Section 43B(h) of Income Tax Act , 1961

Introduction:  The Finance Act, 2023, introduces significant changes with the insertion of clause h in section 43B of the Income Tax Act, strengthening the enforcement of MSME payment regulations. This analysis dives into the implications for small businesses, examining the provisions of the Income Tax Act, 1961, and the MSMED Act, 2006. Particularly, section 43B(h) is explored, addressing the disallowance of expenses for payments not made within the specified time limit. The article delves into the definitions of micro, small, and medium enterprises (MSMEs) and the crucial payment periods outlined in the MSMED Act.   Section 43B (h):  “any sum payable by the assessee to a MICRO or SMALL enterprise beyond the time limit specified in 15 of the Micro, Small and Medium Enterprises Development Act, 2006,” The enterprise category as Micro, Small & Medium as described in the Micro, Small and Medium Enterprises Development Act, 2006 is made for your reference: Micro Enterpri...

GST LUT – File Letter of Undertaking (LUT) Online

Letter of Undertaking is commonly known as LUT. The  GST LUT  is prescribed to be furnished in form GST RFD 11 under rule 96A, whereby the exporter declares that he/she would fulfill all the requirements prescribed under  GST  while exporting without making IGST payment. Know more about  exports under GST. Filing Letter of Undertaking is mandatory to export goods or service or both without payment of Integrated Taxes (IGST). If LUT has not been furnished, the export can only be made through payment of IGST or by furnishing an export bond. Initially, only the options of export bond was allowed. However, to improve ease of doing business, the Government introduced LUT. LUT was to be filed offline at the concerned GST office. Now, the Government has made the process of filing GST LUT online. Now, exporters can file LUT online through their respective GST Portal account easily by following the steps below. Eligibility for Export under LUT All GST registered goo...