Gracian Allen

  The Central Board of Indirect Taxes and Customs has issued a notification dated 26th of May, 2022 stating that businesses registered under composition scheme that couldn’t file their annual return (GSTR-4) for the previous financial year will be exempted from the late fees for two months. The due date of filing GSTR-4 for financial year 2021-22 was 30th of April, 2022. As per the notification, businesses registered under the composition scheme will not have to pay the late fee till 30th June, 2022 for filing of their annual form GSTR-4 for the financial year 2021-22. Read More...

November month brings some good news for the economy. As per the report released by the Finance Ministry on Wednesday, the record GST collection was reported in November 2021, which is 25 percent higher than November 2019 and is the second-highest figure ever since the GST tax was imposed in July 2017. GST collection in November exceeded Rs 1.31 lakh crore. It is the fifth consecutive month where GST collection touched one lakh crore rupees figure. Read More...