Viewing posts tagged GST Council Meeting Updates
Since the advent of GST, one aspect of EWB not contested much is its correlation to the data reported in the GSTR1. While GSTR1 is essentially a detailed report on all of your outward supplies, EWB is a sub-set to the GSTR 1 carrying details of only those outward supplies where there is movement of goods over and above a threshold limit. Also, there can be a scenario where EWB needs to be generated for movement of goods on delivery challans, but these supplies do not find their way directly in terms of “value reported” in GSTR1.
The 31st GST council Meeting was held on 22 December 2018. Following recommendations and rate cuts have been agreed upon in the meeting:
Find out what the new simplified return forms; Sahaj & Sugam are and how they will affect return filing for small taxpayers.
The 28th GST council meeting was held on 21 July 2018. In the meeting, the new return formats and process were approved. Single monthly return for most of the taxpayers will be a reality.