GST News
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.
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 21:57CBIC 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").
Zomato Faces Rs 402 Crore GST SCN for Alleged Non-payment on Customer Delivery Charges
28 December 2023 at 09:24On December 28, Zomato Ltd, the popular online food delivery platform, revealed that it received a show cause notice (SCN) from the Goods and Services Tax (GST) office.
GSTN Expands Payment Options: Adds 2 New Banks, Totaling 25 for GST Transactions
28 December 2023 at 09:21The Goods and Services Tax Network ("GSTN") has added 2 new banks Karnataka Bank Limited and RBL Bank Limited, bringing the total number of banks accepting GST payments to 25.
GSTN Unveils Online Filing of Annexure-V for GTAs Opting for Forward Charge
28 December 2023 at 09:20The Goods and Services Tax Network (GSTN) has rolled out a highly anticipated feature, enabling the online filing of Annexure-V on the GST Portal. This feature is specifically tailored for newly registered GTAs choosing to operate under Forward Charge.
ICICI Lombard Receives GST Demand Notice of Over Rs 5.66 crore
28 December 2023 at 09:17ICICI Lombard General Insurance Company, a prominent player in the insurance sector, has encountered a significant setback as it received a demand notice for the alleged short payment of Goods and Services Tax (GST) amounting to over Rs 5.66 crore.
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