GST News

Payment Firms Hit with GST Demand for Transactions Under Rs 2000: Report

09 September 2024 at 09:15

Various payment vendors including BillDesk and CCAvenue have been issued GST demand notice relating to the fee charged to merchants for digital transactions of less than Rs 2000 as per a certain report on 7th September.

Posted in GST | 3615 Views

FM Urges Industry to Leverage PLI Schemes for Accelerated Investments

09 September 2024 at 09:12

Finance Minister Nirmala Sitharaman, addressing the Southern India Chamber of Commerce and Industry in Chennai on Thursday, called on Indian industries to invest in expanding their capacity to meet India's growing needs.

Posted in GST | 1563 Views

Lower GST on Insurance May Not Benefit Buyers, Experts Warn

09 September 2024 at 09:10

States have been asked to proceed with the implementation of the measures to cut GST on health and life insurance; however, there is now a worry that, without an anti-profiteering authority to oversee it, insurers may not pass the savings from the lo

Posted in GST | 453 Views

Ahmedabad Businessman Denied Bail in Rs 175.93 Crore GST Refund Scam

09 September 2024 at 09:08

In a significant development, the Ahmedabad Sessions Court has rejected the bail plea of 43-year-old businessman Anilkumar Babulal Runthala, arrested for his alleged involvement in a Rs 175.93 crore GST refund scam.

Posted in GST | 1839 Views

54th GST Council Meet to Discuss Extending E-Invoicing Mandate to B2C Transactions

07 September 2024 at 09:06

Introducing massive change for business on aggregate across India, the GST Council is all set to talk about the expansion of e-invoicing norms to business-to-consumer (B2C) sales in the GST Council meeting on Monday.

Posted in GST | 5196 Views

FM Sitharaman: No Centre-State Friction on GST, Federal Structure Must Be Respected

07 September 2024 at 09:06

Union Finance Minister Nirmala Sitharaman has dismissed claims of "friction" between the Centre and states over Goods and Services Tax (GST), emphasizing the importance of respecting India's federal structure in economic reforms.

Posted in GST | 1848 Views

New GST Filing Rules to Boost Transparency and Efficiency, Experts Highlight Key Changes

07 September 2024 at 09:04

The recent changes to GST return filing rules, as per Notification No. 12/2024 – Central Tax, dated July 10, 2024, are set to simplify the tax filing process for businesses and enhance transparency.

Posted in GST | 2133 Views

54th GST Council Meeting to Focus on GoM Reports on Rate Rationalization and Real Estate Reforms

07 September 2024 at 09:04

The 54th meeting of the GST Council is set for September 9, 2024, in New Delhi, with a comprehensive agenda that includes updates from two key Groups of Ministers (GoM).

Posted in GST | 1659 Views

GSTN: Biometric-Based Aadhaar Authentication Rolled Out for GST Registration in Bihar, Delhi, Karnataka & Punjab

07 September 2024 at 09:03

Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Bihar, Delhi, Karnataka and Punjab

Posted in GST | 4494 Views

GST Below Revenue Neutral Rate, Easing Taxpayer Burden: FM Nirmala Sitharaman

06 September 2024 at 09:08

Ahead of the GST Council meeting on September 9, Union Finance Minister Nirmala Sitharaman emphasized that the current GST rate of 12.2% is significantly lower than the revenue neutral rate (RNR) of 15.3%.

Posted in GST | 3663 Views