Food aggregators like Swiggy and Zomato will have to collect and then deposit tax at the rate of 5 percent from Saturday (January 1, 2022) i.e. today. This is a move that will widen the ambit of the tax base. Because food sellers are currently outside the GST range and will be liable for GST through these online platforms. At present, restaurants registered under GST are collecting tax.
Also, cab aggregators like Uber and Ola will collect 5 percent GST for booking of 2 and 3 wheeler vehicles with effect from January 1. Apart from this, footwear will also be taxed at 12 percent from Saturday. These are among the many changes made regarding GST, which have come into effect in this new year 2022.
Further, to tackle evasion, the GST law has been amended to provide that input tax credit will now be available only when the credit appears in the GSTR 2B (Purchase Return) of the taxpayer. The five percent provisional credit, which was earlier allowed in the GST rules, will not be allowed after January 1, 2022.
Bipin Sapra, Tax Partner, EY India, said, “This change will have an immediate impact on the working capital of taxpayers who are currently availing credit of 105 percent of the matched credit. This change will require the industry to verify this. It will also mandate that the purchase is genuine."
Other anti-theft measures that will come into effect from the new year include mandatory Aadhaar authentication for claiming GST refund and in cases where the business has not paid tax and has filed GSTR-3B in the preceding month immediately. Blocking the facility of filing GSTR-1 for
While economists around the world are expressing the possibility of a global recession, on the ot
Speaker Nancy Pelosi's visit to Taiwan, the lower house of the US Parliament, has created a stir
Fiscal Deficit: The government got Rs 5.96 lakh crore from tax, and spent Rs 9.48 lakh crore
The fiscal deficit has increased to Rs 3.51 lakh crore in the first quarter of April-June. This i
There is anger in the country after the terrorist attack in Pulwama, Jammu, and Kashmir. Security
Ajith Kumar's much-awaited film 'Vidaamuyarchy' is now in the final stages of post-production. Me
As per the pre-announced program of emergency warning system and rescue and relief operations, mo
At this time, a video of Norway-based chess player and five-time champion Magnus Carlsen is going
Light rain in Delhi-NCR, now cold will knock; Schools closed after IMD alert in Tamil Nadu
The weather pattern seems to be changing once again in the national capital Delhi. The sky remain
Railway Minister Ashwini Vaishnav on Monday said that the government is giving top priority to sa
The schedule of IPL 2025 has been revealed. The 17th season of IPL is to start on 22 March 2025,
