23.5 C
Saturday, February 4, 2023

Popular Articles

Swiggy, Zomato, Uber to collect 5% GST Beginning today

From today, food aggregators such as Swiggy and Zomato will be required to collect and deposit GST at a rate of 5%, broadening the tax base by exposing food merchants who are now outside the GST threshold to GST while providing services through these online platforms. Restaurants that are GST-registered are currently collecting and submitting the tax. Furthermore, beginning today, taxi aggregators such as Uber and Ola will be required to collect a 5% Goods and Services Tax (GST) when hiring 2 and 3 wheeler vehicles. From today, every pair of footwear, regardless of price, will be subject to a 12% tax.

- Advertisement -

The GST law has been changed to specify that the input tax credit would only be accessible after it appears in the taxpayer’s GSTR 2B (buy return). The 5% provisional credit, which was previously available under GST regulations, will no longer be allowed as of today. Other anti-evasion measures that will take effect in the new year include requiring Aadhaar authentication when seeking GST refunds and banning the GSTR-1 filing facility.

GSTR-3B, which is used by businesses to pay taxes, is filed in a staggered fashion between the 20th and 24th of the following month. the amendment is likely to curb the malpractice of passing the input tax credit through GSTR-1 without paying taxes on GSTR 3B, Also, the GST officers can now visit premises to recover tax dues without any prior show-cause notice.

The e-commerce operators are now liable to pay GST in place of the restaurants, and the tax base of the government may increase due to the above. E-com operators may be asked to obtain registration in each state where restaurants are located, even if they don’t have a presence, and undertake all the regular GST compliance. This practice of laying the burden on E-Commerce operators for supplies made through them is putting an additional burden on a platform that is just facilitating the supply.

- Advertisement -


Please enter your comment!
Please enter your name here


Recent Articles

Cold wave and rising viral fever in Dakshina Kannada

In response to the chilly weather that is currently in effect, the health department has started a health awareness campaign in the area. The...

India’s first Gold ATM in Hyderabad now

India: People tend to head over to an automated teller machine (ATM) if they're in need of a cash withdrawal. Nonetheless, anyone can now...

A whirlwind swept across Karkala’s Gandhi Maidan, leaving residents awed and terrified

On Saturday, January 28, there was a whirlwind at Gandhi Maidan, which terrified and surprised everyone. When the whirlwind, which spiralled into the sky and...