GST News

UltraTech Cement Faces GST Demand Orders Totaling Rs 72.06 Lakh

03 January 2024 at 09:12

UltraTech Cement, a leading cement manufacturer, has received two demand orders from the Goods and Services Tax (GST) authorities, amounting to Rs 72.06 lakh in total.

Posted in GST | 2307 Views

LIC Receives Rs 806 Crore GST Notice

02 January 2024 at 11:44

Life Insurance Corporation of India (LIC) has been slapped with a Goods and Services Tax (GST) demand notice totaling Rs 806 crore, including penalty and interest.

Posted in GST | 3576 Views

Gross GST Collection Soars to Rs 14.97 Lakh Crore, Registers 12% Y-o-Y Growth from April to Dec 2023

02 January 2024 at 09:07

Posting a growth rate of 12% Y-o-Y, Rs 14.97 lakh crore gross GST collection during April-December 2023 period

Posted in GST | 5058 Views

GSTN Issues Advisory on Functionalities available on the portal for GTA Taxpayers

01 January 2024 at 08:13

Functionalities made available on the portal for the GTA Taxpayers

Posted in GST | 5808 Views

ICICI Bank and Kotak Mahindra Bank Face Hefty GST Demand Notices

30 December 2023 at 09:15

ICICI Bank Challenges ₹24.37 Crore Demand Notice with ₹2.43 Crore Penalty in Tamil Nadu. Kotak Mahindra Bank Faces ₹57.20 Lakh Demand Notice with ₹5.1 Lakh Penalty in Odisha

Posted in GST | 2571 Views

GST Council Grants Tax Officials Additional Time for FY19 and FY20 Dues Recovery

30 December 2023 at 09:13

In a recent development, the Goods and Services Tax (GST) Council has taken a significant step by extending the deadline for tax officials to pursue and recover outstanding tax dues from businesses for the financial years 2019 (FY19) and 2020 (FY20).

Posted in GST | 5385 Views

GSTN | Date extended for reporting opening balance for ITC reversal

30 December 2023 at 09:12

Advisory: Date extension for reporting opening balance for ITC reversal1. In order to facilitate the taxpayers in correct and accurate reporting of ITC reversal and reclaim thereof and to avoid clerical mistakes, a new ledger namely Electronic Credi

Posted in GST | 9342 Views

Year in Review 2023: CBIC's Pivotal GST System Upgrades

29 December 2023 at 09:30

The Central Board of Indirect Taxes and Customs (CBIC), Department of Revenue, Ministry of Finance, has achieved significant milestones in enhancing the efficiency and integrity of the Goods and Services Tax (GST) system.

Posted in GST | 6969 Views

Mahindra & Mahindra Fined Over Rs 56 Lakh for GST Credit Transfer Error in Two-Wheeler Business

29 December 2023 at 09:23

Mahindra & Mahindra Ltd has disclosed that it is facing a penalty of over Rs 56 lakh for a procedural lapse related to the transfer of Input Service Distributor (ISD) credit from the pre-GST to the GST regime.

Posted in GST | 2343 Views

CBIC Extends Time Limit for Issuance of SCN and Order Passing in Non-Fraud Cases for FY 2018-19 and 2019-20

28 December 2023 at 21:57

CBIC has taken a proactive step by issuing Notification No. 56/2023–Central Tax on December 28, 2023. This notification aims to extend the time limit prescribed under Section 73(10) of the Central Goods and Services Tax Act, 2017 ("the CGST Act").

Posted in GST | 25569 Views