22nd GST Council Meeting Top 5 Updates You Must Be Aware Off

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KwikBilling informs us about 22nd GST Council Meeting and the top 5 updates you must be aware off.

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TOPIC: 22nd GST Council Meeting: Top 5 Updates You Must Be Aware Off KwikBilling informs us about 22nd GST Council Meeting and the top 5 updates you must be aware off. KwikBilling SIMPLE EASY GST BILLING AND INVOICING SOFTWARE

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22nd GST Council Meeting: Top 5 Updates You Must Be Aware Off Short for Goods and services tax GST was first proposed in the year 2000 and after a total of 17 years it was implemented. It has been criticized as much as it is appreciated. While the actual Impact of GST is yet to be seen because economy takes time to reflect we can however expect it will bring good yields for all after all it has been proposed implemented and maintained for the benefit of all reducing the burden of tax where it was not required and adding wherever it required to be. The rules and Regulations regarding GST keeps changing in order to be according to the contemporary context and be fruitful. Latest updates –

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 The government understood the challenges faced by small businesses with turnover of within Rs 1.5cr and thus it has delayed their return filing compliance to once a quarter from once a month.  If you are a small business you also need to file monthly returns for three months – July August and September.  You might get exemption from Registration for a service provider if your aggregate turnover is less than Rs. 20Lacs 10 Lacs in special category state except for JK  The meeting also gave some Relief for Exporters and made some Composition Scheme changes. There has been some relief for jewellers as there is no need to furnish PAN card on jewellery purchase of more than Rs 50000.The amount of jewellery purchase for which KYC is needed will be later decided.  TDS/TCS provisions has been postponed till 31.03.2018.

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These are just some of the basic things decided on the meeting. The GST Rules And Regulations often get revisions to make them apt and according to the context. About the Author With KwikBillings software creating invoice is indeed the easiest part of the job. Additionally you are empowered to manage the invoice and expenses and ensure easy reporting collect payments too. With KwikBillings integrated invoice solutions you would feel just hassle free. Contact Now: Company : KwikBilling Website : www.kwikbilling.com Email-Id : kwikbilling.comgmail.com Address : 108 1 st Floor Specialty Business Center Balewadi Pune Maharashtra Phone : +91 9713030021 Pin code : 411045 Social Platform: Reference: https://www.kwikbilling.com/blog/22nd-gst-council-meeting-top-5-updates-you-must-be- aware-off.html

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