The recent update of GSTN portal with Simplified Returns suggests GST team ’s earnestness towards simplification of tax filing. The simplified taxation forms are need of the hour, especially for small taxpayers.
GST Council in the 34th meeting held on 19th March, 2019 at New Delhi discussed the operational details for implementation of the recommendations made by the council in its 33rd meeting for lower effective GST rate of 1% in case of affordable houses and 5% on construction of houses other than affordable house.
While the 27th GST Council Meeting approved Simplified Returns, the 28th GST Council Meet laid down the rules on Return Simplification.
TDS under GST is reported with the help of Form GSTR 7. Read the rate, penalties applicability, GSTR 7A etc here.
CBIC has recently announced many updates to the existing GST rules in various meetings and through notifications. These are going to be in effect within 15 days from 1st April 2019. We have brought a compilation of all the updates for our users: