Gst Changes News Today

Lucknow: UP’s finance minister Suresh Khanna has been nominated the convenor of the group of ministers (GoM) responsible for making changes in the GST.

From November 1, many sectors and things associated with day-to-day affairs will see changes. These changes will also affect companies who have to file the Goods and Services (GST) receipts. One of them will be particularly important for people who r

According to an advisory from the National Informatics Centre (NIC), businesses with turnover of Rs 100 crore and above will have to upload GST invoices on the e-invoicing portal within 30 days with effect from November 1.

Accordingly, the due date for availing input tax credit pertaining to the previous financial year has been extended from the due date of filing of GST return for September to 30 November. Also, the due date of issuance of credit notes and declaration in the returns has been extended from 30 September to 30 November.

Customers will have to pay 5 per cent GST on pre-packed, labelled food items like atta, paneer and curd, besides hospital rooms with rent above Rs 5,000 from Monday with the GST Council's decision coming into force.

Services like job work in some sectors have seen a tax hike from 5% to 12%, while work contracts for infra will see a hike to 18%

The GST regime will witness a host of tax rate and procedural changes coming into effect from January 1.