CBIC vide Circular No. 201/13/2023-GST dated August 01, 2023 has issued clarifications regarding the applicability of GST on certain services based on the recommendations of the GST Council in its 50th meeting held on July 11, 2023.
The CBIC vide Circular No. 200/12/2023-GST dated August 01, 2023 has issued clarification regarding GST rates and classification of certain goods based on the recommendations of the GST Council in its 50th meeting held on July 11, 2023.
₹1,65,105 crore gross GST revenue collected for July 2023; records 11% Year-on-Year growth
In a written reply to the Lok Sabha on Monday, Finance Minister Nirmala Sitharaman said that GST evasion of Rs 14,302 crore was detected in the first two months of the current fiscal year, April-May 2023.
The Mandatory 2 Factor Authentication (2FA) requirement for taxpayers with an Aggregate Annual Turnover (AATO) above 100 Crores has been extended until August 20, 2023
As of August 1, there will be a significant change in the mandatory e-invoicing requirements in India. The aggregate annual turnover threshold for issuing e-invoices will be lowered from ₹10 crore to ₹5 crore.
GSTN has introduced new tabs in the 'State Specific Information' section of the GST registration form to collect Consumer Agreement (CA) or Electricity Consumer (EC) numbers.
Union government has accepted the recommendation to set up an online audit mechanism under the Goods and Services Tax (GST) to streamline the process.
GSTN has introduced a new tab, Rule-86B, which restricts the use of the amount available in the Electronic Credit Ledger.
The GSTN has recently announced that it will be collecting metadata of the Principal Place of Business (PPOB) for all registered taxpayers
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