5)#GSTR-5:It is submitted by #OIDAR service providers
6)#GSTR-6:It is filed by input service distributors,within 13 days from end of month
7)#GSTR-7:It is filed by #TDS deductors&furnished within 10days after end of month in which tax has been deducted at source #EconomyOnTrack
8)#GSTR-8:Its submitted by E commerce operators who collect tax at source under #Section52
9)#LetterofUndertaking:Its a document that exporters file to export goods/services without having to pay integrated taxes;Any registered person can furnish #LUT in form #GSTRFD11,to export
10)#GSTCMP-02:When dealers wants to opt for Composition Scheme under #GST,they have to intimate govt
This can be done by filing Form CMP-02;Existing ones are not required to apply again
Time limit to opt for #Composition scheme for FY21 in form CMP-02,extended to 31stAug 2020
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#Rupee has fallen far lower Vs #Dollar,comparatively👇
Euro,2 days ago,went below $1 for 1st time in 20yrs,reflecting big weakness in #Euro
Rupee,displaying strength,has risen big time against Euro,Pound &Yen💪
So #Madarsa dentists from Congress should stop lecturing on Rupee
@narendramodi govt in a landmark measure has allowed international trade settlement in #Rupees
Explained👇
When countries import&export goods&services,they have to make payments in foreign currency
Since US Dollar is world’s reserve currency,most trades are entered into in USD
Here,both parties involved have to incur conversion expenses&bear risk of foreign exchange rate fluctuations
This is where trade settlement in Rupee comes in-instead of paying &receiving US Dollars,invoice will be made in Indian Rupees if counterparty has #Rupee Vostro account
Some Business News anchors are saying Rupee has fallen against Dollar because our monthly #TradeDeficit is hitting $20bn&our Current Account Deficit(CAD),will be 3%
Well,$20bn a month Trade Deficit is no big deal for us,given that our Goods+Services Exports are a massive $670bn
2.5-3% CAD for an economy growing at average of 7.5-9.5% is not a big deal either
In fact,in last 8yrs,average CAD under @narendramodi govt has been sub 2%,so we have enough leeway on that count
Why then are major Currencies falling against Dollar?
Industrial growth estimated at 11.8% &Services at 8.2% in FY22 show how Economy under @narendramodi is ready to fire on all cylinders
Most Growth Parameters are back to pre-Pandemic levels,as India heads into #UnionBudget2022
#GDP&GVA growth 1.3%&1.9% over Pre #COVID19 levels
#EconomicSurvey shows,be it Operationalisation of Airports or Spread of Bank Branches, @narendramodi govt has truly transformed India,with financial inclusion getting top priority
India set to be Fastest growing for next 2yrs as per IMF,thx to bold reforms by #PMModi #Modinomics