GST News

CBIC announces interest rate reduction for late tax payment & wrongly availed ITC

06 July 2023 at 08:46

CBIC issued a clarification on July 1, 2023, to reduce the interest rate on wrongly availed and utilized ITC from 24% to 18%.

Posted in GST | 16482 Views

CBIC waives GSTR-9 & GSTR-9C Filing for turnover up to Rs 2 crores and 5 crores

05 July 2023 at 08:28

Central Board of Indirect Taxes and Customs (CBIC) has waived the filing of annual returns through Form GSTR-9 and GSTR-9C for turnover up to 2 crores and 5 crores respectively

Posted in GST | 18120 Views

Delhi Govt provides relief to taxpayers by waiving late fee for annual returns

05 July 2023 at 08:27

Delhi Government has waived the late fee for filing Annual Returns of registered taxpayers.

Posted in GST | 6867 Views

GST Authorities turn their focus on Credit Card and E-tail Partnerships

04 July 2023 at 08:47

In a move aimed at enhancing tax compliance and revenue generation, the Goods and Services Tax (GST) authorities are closely scrutinizing credit card and e-tail (electronic retail) partnerships.

Posted in GST | 5994 Views

FM hails 'Exemplar' GST regime for lightening tax burden on people

04 July 2023 at 08:46

Finance Minister Nirmala Sitharaman has said that the Goods and Services Tax (GST) regime has reduced the tax burden on people and created an efficient federal institution with high revenue buoyancy for states.

Posted in GST | 2685 Views

Centre to introduce new rules for GST Appellate Tribunals

04 July 2023 at 08:44

The Centre is expected to soon notify rules for setting up GST appellate tribunals. This was announced by a senior CBIC official on Monday, July 3, 2023.

Posted in GST | 6693 Views

CBIC to implement Biometric Authentication and Geo-Tagging to curb GST Fraud

03 July 2023 at 15:59

The Central Board of Indirect Taxes and Customs (CBIC) has identified over 12,000 fake entities in GST registration. These entities were used to claim fake Input Tax Credit (ITC) and defraud the exchequer.

Posted in GST | 8547 Views