The GST Council, in its 55th meeting held on Saturday, decided to delay reducing the tax rate on premiums for life and health insurance policies. Officials stated that more technical aspects need to be resolved before a decision can be made. The task has been assigned to a Group of Ministers (GoM) for further discussions. … Read more
The GST Council announced on December 21 that an 18% GST will now be applied to the sale of all old vehicles, including electric ones. Earlier, this rate was only applicable to petrol vehicles with engines of 1200 cc or more and length 4000 mm or more, diesel vehicles with engines of 500 cc or … Read more
Big news has arrived for GST traders, especially those with higher turnovers. Starting from 2025, Multi-Factor Authentication (MFA) will be mandatory for businesses with a turnover exceeding ₹20 crore. Here’s everything you need to know about the upcoming changes. Key Changes Effective from 2025 MFA for E-Way Bills and E-Invoicing Beginning January 1, 2025, MFA … Read more
On July 23, 2024, Finance Minister Nirmala Sitharaman announced a significant relief for the middle class in the budget for the financial year 2024-25. The government increased the standard deduction limit from Rs 50,000 to Rs 75,000, providing tax relief in the New Tax Regime. However, many salaried individuals have been requesting relief under the … Read more
How to File GSTR-1 for Free: GSTR-1 is the first number in the process of filing GST returns. It is not only the first, it is also the foundation of all the forms that come forward. Once you know the method of filling it, then you will not face much problem in filling any GST … Read more