GST News

CBIC Amends GST Rules to Enhance Compliance for Composition Taxpayers via FORM GST CMP-02

24 January 2025 at 09:14

CBIC introduces amendments to GST Rules, 2025, enabling composition taxpayers to furnish key information in FORM GST CMP-02. These changes aim to simplify compliance and improve transparency in the GST framework.

Posted in GST | 10839 Views

CBIC Introduces Temporary Identification Number in GST Rules 2025

24 January 2025 at 09:12

The Central Board of Indirect Taxes and Customs (CBIC) has amended GST Rules, 2025, introducing a Temporary Identification Number (TIN) for individuals or entities not liable for GST registration but required to make payments under the Act.

Posted in GST | 6417 Views

GSTN Resolves Duplicate Entry Issue in GSTR-2B: Advisory for Taxpayers Filing GSTR-3B

23 January 2025 at 09:12

The Goods and Services Tax Network (GSTN) has addressed and resolved an issue concerning duplicate entries in GSTR-2B for certain taxpayers. A corrected GSTR-2B has now been generated.

Posted in GST | 2769 Views

GSTN Rolls Out Phase-III Changes to Table 12 of GSTR-1 & GSTR-1A Effective February 2025

23 January 2025 at 09:09

Implementation of mandatory mentioning of HSN codes in GSTR-1 & GSTR 1AAfter successful implementation of Phase-I & Phase-II now Phase-III regarding Table 12 of GSTR-1 & 1A is being implemented, from return period February 2025.

Posted in GST | 3345 Views

DGGI Busts Rs 11 Crore GST Input Tax Credit Fraud

20 January 2025 at 08:48

In a significant breakthrough, the Directorate General of GST Intelligence (DGGI), Bhubaneswar Zone, has unearthed a massive GST fraud involving bogus input tax credit (ITC) transactions worth Rs 11 crore.

Posted in GST | 23556 Views

US-India Tax Forum Proposes Key Tax Reforms Ahead of Union Budget 2025

18 January 2025 at 07:55

Ahead of the Union Budget 2025, the US-India Tax Forum, under the US-India Strategic Partnership Forum (USISPF), has put forth recommendations aimed at simplifying India's tax framework and boosting investor confidence.

Posted in GST | 750 Views

CBIC Clarifies GST Rules on Pre-Packaged Goods and Gene Therapy

18 January 2025 at 07:55

In a significant update, the Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 02/2025-Central Tax (Rate) on January 16, 2025, amending the Central Goods and Services Tax Act, 2017 (CGST Act).

Posted in GST | 2274 Views

CBIC Amends Customs Duty Exemptions for LRSAM Equipment

18 January 2025 at 07:54

In a move to strengthen India's defense capabilities, the Central Government has issued Notification G.S.R. 64(E), making further amendments to the Notification No. 19/2019-Customs, dated July 6, 2019.

Posted in GST | 747 Views

CBIC Notifies GST Exemption for Exports at Concessional Rate of 0.1%

18 January 2025 at 07:54

In a significant move to boost exports, the Central Government has issued Notification G.S.R. 62(E) under the Central Goods and Services Tax Act, 2017, Goods and Services Tax (Compensation to States) Act, 2017,

Posted in GST | 2187 Views

CBIC Revises GST Rates for Key Supplies Under Public Interest Mandate

18 January 2025 at 07:54

In a major move aimed at aligning tax rates with public welfare initiatives, the Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 04/2025-Central Tax (Rate) on January 16, 2025.

Posted in GST | 741 Views