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Summary of GST notifications issued on 9th Oct, 2019
Contents
1. Due date of furnishing FORM GSTR 3B (Notification No. 44/2019 – Central Tax dated 09.10.2019)
3. Relaxation in filing of annual returns (Notification No. 47/2019 Central Tax dated 09.10.2019)
4. Waiver of late filing fee (Notification No. 48/2019 Central Tax dated 09.10.2019).... 4
5. Amendments to CGST Rules, 2017 (Notification No. 49/2019 Central Tax...
Read moreRate of tax for hotel accommodation – after 37th GST Council’s recommendation
Sep ‘19 The rate of tax for the accommodation services up to 30th Sep ’19 is as below: Old rate
|
Transaction value per unit per day |
GST (new rate of tax) |
|
Less than INR 1,000 (per unit) |
Nil |
|
INR 1,000 to INR 2,499 |
12 percent |
|
INR 2,500 to INR 7,499 |
18 percent |
|
INR 7,500 and more |
28... |
Professional Services- Billing Dilemma
It is common even among the older firms that the clients pay the dues in a delayed manner. At times it takes years for the fees to be paid!! The practice of billing only when payment is expected would lead to non-compliance under the GST law leading to interest and penalty. It may also lead to further delays as well as incentivise clients to delay. The other age old lump sum fee concept was probably needed 2 decades back other than form small clients. However, today with the plethora of...
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