GST

Updates On The 40th GST Council Meeting

40th GST Council Meeting

The 40th GST Council Meeting was conducted in Delhi on 12th June 2020 chaired by Union Finance & Corporate Minister Smt. Nirmala Sitaraman. This is the first video conference council meeting held after the country was under lockdown due to the COVID-19 pandemic. Whilst the industry expectations were on in relation to relief in terms …

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Updates on GST Notifications Issued By Government on 3rd April 2020

Read the article to know about the special relief provided by the government to the taxpayers in India in view of spread of Corona Virus.

This article contains the special relief provided by the government to the taxpayers in view of the spread of Corona Virus (COVID-19). The spread of Novel Corona Virus (COVID-19) across many countries of the world, including India, has caused immense loss to the lives of people and resultantly impacted the trade and industry. In view …

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Updates On Notifications Issued On 23rd March 2020

GST Updates on Notifications Issued on 23rd March 2020

This article contains the understanding and implications of the notifications issued on 23rd March to give the effect of the council decisions taken on 14th March 2020. Notification No. 10/2020 – Central Tax, Dated – 23-03-2020 Download Notification PDF:- Applicable to taxpayers in Dadra and Nagar Haveli and Daman and Diu. The transition date shall be 31st …

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Know Your Supplier

Know your supplier through Cygnet GRC Score

The GST Council held its 39th Council Meeting on 14th March 2020 in New Delhi headed by the Union Finance Minister Nirmala Sitharaman who had some new announcements under GST.  According to the GST Council Meeting, the implementation of e-invoicing and QR Code generation has been extended to 1st Oct 2020 for companies with a …

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A Guide On New GST Returns

A Guide On New GST Returns

In this article, we will discuss the wave of developments in the GST regime  proposed under new returns and as reemphasized in the Union Budget of FY 2020-21. This article will help the taxpayer in understanding the implications of new returns and key areas impacting compliances under the GST regime. In this article, we shall …

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How Businesses Can Use Automation To Improve Their Tax Processes In 2020?

How businesses can use automation to improve their tax processes in 2020?

Before entering in the Year 2020, automation was already the talk of tax town. In fact, approximately 112 countries across the globe are already using some form of electronic invoicing, but in India e-invoicing has just been introduced. People and businesses have saved a lot in processing cost itself. Automation has been in businesses in …

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GST Returns Compliance Score By Cygnet

GST Returns Compliance Score by Cygnet

According to a recent RBI Financial Stability Report, the gross non-performing asset ratio of banks may increase to 9.9 percent by September 2020 from 9.3 percent in September 2019. This is not a good sign as banks are the custodians of people’s money and need to follow astute practices in the choice of the investments …

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Highlights of the 38th GST Council Meeting Held in Delhi

38th GST Council Meeting

GST’s 38th Council Meeting was held on 18th Dec 2019, Delhi was chaired by Honorable Finance Minister Nirmala Sitharaman. Other attendees of the meeting were Union Minister of State Finance & Corporate Affairs Shri Anurag Thakur, Finance Minister of States & UT and Senior Officers of Ministry of Finance. This meeting was concluded with some …

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