GST News
Yes Bank Slapped with Rs 3 Crore Penalty by Tamil Nadu GST Department
03 January 2024 at 09:14Yes Bank, a prominent private sector lender, found itself at the center of attention as it received a tax receipt amounting to Rs 3 crore from the Tamil Nadu Goods and Services Tax (GST) department on December 31, 2023.
UltraTech Cement Faces GST Demand Orders Totaling Rs 72.06 Lakh
03 January 2024 at 09:12UltraTech 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.
LIC Receives Rs 806 Crore GST Notice
02 January 2024 at 11:44Life 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.
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 09:07Posting a growth rate of 12% Y-o-Y, Rs 14.97 lakh crore gross GST collection during April-December 2023 period
GSTN Issues Advisory on Functionalities available on the portal for GTA Taxpayers
01 January 2024 at 08:13Functionalities made available on the portal for the GTA Taxpayers
ICICI Bank and Kotak Mahindra Bank Face Hefty GST Demand Notices
30 December 2023 at 09:15ICICI 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
GST Council Grants Tax Officials Additional Time for FY19 and FY20 Dues Recovery
30 December 2023 at 09:13In 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).
GSTN | Date extended for reporting opening balance for ITC reversal
30 December 2023 at 09:12Advisory: 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
Year in Review 2023: CBIC's Pivotal GST System Upgrades
29 December 2023 at 09:30The 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.
Mahindra & Mahindra Fined Over Rs 56 Lakh for GST Credit Transfer Error in Two-Wheeler Business
29 December 2023 at 09:23Mahindra & 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.
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