GST News

GST Panel Likely to Consider Insurance Relief Plea

14 August 2024 at 09:12

The GST Council could lower the rates of health and life insurance premiums at its meeting later this month if it accepts a recommendation made by a rate rationalisation committee, officials said on Thursday.

Posted in GST | 1854 Views

CBIC Launches Guidelines for Second All-India Drive to Combat Fake GST Registrations

13 August 2024 at 09:17

The Central Board of Indirect Taxes and Customs (CBIC) has announced the launch of its second special All-India Drive to tackle fake GST registrations.

Posted in GST | 4917 Views

Form GSTR-1A Now Available on GST Portal

13 August 2024 at 09:07

GSTN has rolled out the GSTR-1A form, a significant update that allows taxpayers to make necessary changes, corrections, and amendments to the data filled in their GSTR-1 for the same month.

Posted in GST | 1 comments | 1293 Views

GSTN Introduces New Feature to Add or Amend Bank Account Details on Portal

10 August 2024 at 09:00

The Goods and Services Tax Network (GSTN) has rolled out a new functionality on the GST portal, allowing taxpayers to easily add or amend their bank account details.

Posted in GST | 4098 Views

FM Nirmala Sitharaman Rejects Calls to Reduce GST on Health Insurance Premiums

08 August 2024 at 09:20

The opposition had been demanding that the GST on health and life insurance premiums be scrapped but Union Finance Minister Nirmala Sitharaman has rebuffed such calls.

Posted in GST | 1 comments | 3417 Views

BCCI Paid Rs 2038 Crore in GST for FY23 and FY24

08 August 2024 at 09:16

According to the information given in Parliament on Tuesday, gross GST revenue collection from BCCI during FY 2022-23 and FY 2023-24 was Rs 2,038.55 crore.

Posted in GST | 2706 Views

Kerala GST Department Implements New Software for Filing Returns and Tax Payments Under Legacy Acts

08 August 2024 at 09:14

On August 3, 2024, the Kerala GST Department issued Trade Circular No. 14/2024-Kerala GST, announcing the implementation of new software for filing returns and payment of taxes under legacy acts.

Posted in GST | 2343 Views

FM Nirmala Sitharaman Clarifies GST Compensation Cess Extension in Lok Sabha

07 August 2024 at 09:05

During a lively Question Hour session in Parliament, Tamil Nadu MP D. Ravikumar raised a critical issue regarding the continuation of the GST compensation cess, even though direct payments to states have ceased.

Posted in GST | 2952 Views

Government Collects Rs 8,263 Crore GST on Health Insurance Premiums in FY 2023-24

07 August 2024 at 09:04

In the fiscal year 2023-24, the Indian government has collected Rs 8,263 crore as GST on health insurance premiums, as informed by the Minister of State for Finance, Pankaj Chaudhary, in Parliament on Monday.

Posted in GST | 1 comments | 2214 Views

Self-Invoicing Sparks GST Compliance Challenges for Indian Corporates

06 August 2024 at 08:52

Indian corporates are currently navigating a complex landscape of GST compliance, particularly concerning self-invoicing and the reverse charge mechanism (RCM) for services received from foreign entities.

Posted in GST | 5373 Views