GST News

Supreme Court Allows GST ITC on Construction Costs for Buildings Essential for Rental Services

04 October 2024 at 09:12

On October 3, 2024, the Supreme Court ruled that buildings essential for supplying services such as renting may qualify for the "plant" exception under Section 17(5)(d) of the Central Goods and Services Tax (CGST) Act.

Posted in GST | 6138 Views

GST Tribunal Takes Over: No New Anti-Profiteering Cases from FY26

03 October 2024 at 08:58

From April 1, 2025, the anti-profiteering mechanism under the Goods and Services Tax (GST) regime will cease to operate, marking a significant change for businesses and consumers.

Posted in GST | 1119 Views

GST Collections Slow to 6.5% in September, Totaling Rs 1.73 Lakh Crore

02 October 2024 at 09:41

GST revenue growth rate slowed to 6.5% in September, with collections totalling Rs 1.73 lakh crore, according to government data released on Tuesday.

Posted in GST | 1272 Views

Over 150 Suspicious Agencies in Himachal Pradesh Under Investigation for GST Fraud

02 October 2024 at 09:39

The Excise and Taxation Department of Himachal Pradesh is investigating over 150 agencies registered under fraudulent means, as part of a nationwide crackdown on fake GST registrations.

Posted in GST | 486 Views

Insurance Companies Face Rs 20,000 Crore GST Liability for Rule Violations: DGGI

02 October 2024 at 09:36

The DGGI has uncovered significant GST violations by insurance companies, revealing that many have failed to pay GST on services provided to employees in Special Economic Zone (SEZ) units.

Posted in GST | 1494 Views

Infosys GST Case: Decision Pending Reply from IT Company, Says DGGI

02 October 2024 at 09:35

The Directorate General of GST Intelligence (DGGI) has been investigating Infosys since 2020 in connection with tax evasion allegations related to the import of services from its branch offices abroad.

Posted in GST | 1 comments | 1332 Views

New Mechanism to Curb GST Fraud in ITC Claims Expected by November

02 October 2024 at 09:32

The Union Ministry of Finance is advancing efforts to curb fraudulent Input Tax Credit (ITC) claims related to the Goods and Services Tax (GST) paid under the Reverse Charge Mechanism (RCM).

Posted in GST | 1854 Views

GSTN Issues Advisory On e-Services App to Replace e-Invoice QR Code Verifier App

02 October 2024 at 09:31

GSTN is pleased to inform the launch of the new GSTN e-Services app, which replaces the old e-Invoice QR Code Verifier App.

Posted in GST | 351 Views

CBIC Amends Customs Exemptions & Concessions to Align HS Codes with Finance (No. 2) Act 2024

02 October 2024 at 09:30

In a significant move to streamline customs operations, the Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 45/2024-Customs, effective October 1, 2024.

Posted in GST | 1104 Views

GST Officials Arrested for Extortion: Rs 69 Lakh Cash and Gold Recovered

01 October 2024 at 09:08

In a shocking case of corruption, the Organised Crime Division of the police recovered ₹69 lakh in cash and 306 grams of gold from four GST officials arrested earlier in September for allegedly kidnapping and extorting ₹1.5 crore from businessman

Posted in GST | 1866 Views