GST News
CBIC Notifies Amendments to GST Rules with New Procedure for Waiver of Interest and Penalty u/s 128A
10 October 2024 at 09:16On October 8, 2024, the Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 20/2024 – Central Tax, introducing amendments to the Central Goods and Services Tax (CGST) Rules, 2017, under Rule 164.
Senior Journalist Among 6 Arrested in Gujarat GST Scam: Raids Uncover 200 Fake Firms
10 October 2024 at 09:15Following a complaint regarding GST evasion, the Ahmedabad Crime Branch has taken significant action across the state, conducting raids at 14 locations, including Ahmedabad, Junagadh, Surat, Kheda, and Bhavnagar.
28% GST Review: Online Gaming Industry's Top Priority One Year On
10 October 2024 at 09:15It has been one year since the implementation of the 28% GST on online gaming in India. While both companies and consumers have adjusted to the higher tax rate, a review of this levy remains a top priority for industry stakeholders.
CBIC Notifies Waiver Procedure for Interest and Penalty on Tax Demands u/s 73 of CGST Act for FY 2017-2020
09 October 2024 at 09:34In a significant relief for taxpayers facing tax demands from prior financial years, the CBIC has issued Notification No. 21/2024–Central Tax outlining the procedure and conditions for the waiver of interest, penalty, or both
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 09:33In 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
CBIC Notifies Special Mechanism for Rectification of Orders on Wrong ITC Availment u/s 16 of CGST Act
09 October 2024 at 09:32In 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
CBIC Introduces RCM for Renting Commercial Property by Unregistered Persons to Registered Entities to Curb Revenue Leakage
09 October 2024 at 09:30In 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.
CBIC Notifies GST Exemptions for Vocational Education and Power Utility Services - Effective October 2024
09 October 2024 at 09:29The 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.
AIFs and Govt in Talks Over Taxation of 'Carry Income' Amid GST Concerns
08 October 2024 at 08:51Recently, 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'
J&K High Court Slams GST Authorities for Wrongfully Withholding Entrepreneur's Tax Refund
08 October 2024 at 08:37The 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.
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