GST News

CBIC Waives Late Fees for TDS Filers u/s 51 of CGST Act on Delayed GSTR-7 Filings Since June 2021

09 October 2024 at 09:33

In a relief for taxpayers required to deduct tax at source (TDS) under section 51 of the CGST Act, 2017, the Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 23/2024, dated October 8, 2024

Posted in GST | 2631 Views

CBIC Notifies Special Mechanism for Rectification of Orders on Wrong ITC Availment u/s 16 of CGST Act

09 October 2024 at 09:32

In a crucial update aimed at streamlining GST compliance, the CBIC has issued Notification No. 22/2024-Central Tax dated October 8, 2024, to notify the mechanism for implementing newly inserted sub-sections (5) and (6) in Section 16

Posted in GST | 16251 Views

CBIC Introduces RCM for Renting Commercial Property by Unregistered Persons to Registered Entities to Curb Revenue Leakage

09 October 2024 at 09:30

In a significant move to tighten GST compliance and prevent revenue leakage, the Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 09/2024-Central Tax (Rate), dated October 8, 2024.

Posted in GST | 5 comments | 34482 Views

CBIC Notifies GST Exemptions for Vocational Education and Power Utility Services - Effective October 2024

09 October 2024 at 09:29

The Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 08/2024 dated October 8, 2024, introducing crucial amendments to the Goods and Services Tax (GST) framework.

Posted in GST | 2856 Views

AIFs and Govt in Talks Over Taxation of 'Carry Income' Amid GST Concerns

08 October 2024 at 08:51

Recently, the Indian government has requested private equity and venture capital industry to explain how other countries tax fund managers, particularly in relation to the application of GST to 'carry earnings'

Posted in GST | 1443 Views

J&K High Court Slams GST Authorities for Wrongfully Withholding Entrepreneur's Tax Refund

08 October 2024 at 08:37

The Jammu and Kashmir High Court recently penalized the Union Territory's GST Department with a Rs 30,000 fine for unjustly withholding a tax refund owed to M/s Hallmark, a garment manufacturer based in Jammu.

Posted in GST | 426 Views

Businessman Stages Semi-Naked Protest at Ghaziabad GST Office, Alleges Bribery and Harassment

07 October 2024 at 09:08

In a dramatic protest, Meerut-based iron trader Akshay Jain stripped down to his underwear at the Mohan Nagar GST office in Ghaziabad, alleging persistent harassment by officials of the department.

Posted in GST | 2466 Views

SpiceJet Clears Four-Month Pending Salaries, Settles GST Dues and Deposits 10-Month PF Contributions

07 October 2024 at 09:00

SpiceJet announced on Friday that it has cleared all pending salary and GST dues, following the recent infusion of ₹3,000 crore through a Qualified Institutional Placement (QIP) of shares on September 23.

Posted in GST | 1653 Views

Tax Commissioner Conducts Surprise Inspection, Warns Traders on GST Evasion

07 October 2024 at 09:00

On Thursday, State Financial Commissioner (Taxation) Krishan Kumar conducted a surprise inspection in the old market area near Rainak Bazaar, uncovering a common practice of shop owners selling items without issuing bills to evade GST.

Posted in GST | 2 comments | 1959 Views

GSTN Issues Advisory for Biometric Aadhaar Authentication for GST Applicants in Kerala, Nagaland & Telangana

07 October 2024 at 08:53

Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Kerala, Nagaland and Telangana

Posted in GST | 498 Views