GST News

GSTN Releases Additional FAQs on IMS

18 October 2024 at 09:09

Invoice Management System (IMS) is now available to taxpayers. This new system shall facilitate taxpayers in matching their records/invoices vis a vis issued by their suppliers for availing the correct Input Tax Credit (ITC).

Posted in GST | 909 Views

GSTN to Implement Hard Locking of Auto-Populated GSTR-3B Values by January 2025

17 October 2024 at 15:05

In order to assist taxpayers in filing their returns and minimizing human errors, GSTN has continuously improved the GST return filing process and in this endeavor the GST Portal now provides a pre-filled GSTR-3B form

Posted in GST | 2448 Views

ITC Reversals Under Rule 37A in September GSTR-2B Due to Non-Filing of GSTR-3B by Vendors

17 October 2024 at 08:56

Taxpayers are now seeing reversals required under Rule 37A reflected in their September GSTR-2B, showing the Input Tax Credit (ITC) that must be reversed due to the non-filing of GSTR-3B by suppliers for FY 2023-24.

Posted in GST | 11322 Views

CBIC Issues Clarification on Implementation of Section 16(5) & 16(6) of CGST Act 2017

16 October 2024 at 09:11

The Central Board of Indirect Taxes and Customs (CBIC) has issued a significant clarification concerning the implementation of sub-section (5) and sub-section (6) of Section 16 of the Central Goods and Services Tax (CGST) Act, 2017.

Posted in GST | 1 comments | 4515 Views

CBIC Issues Clarification of various doubts related to Section 128A of the CGST Act 2017

16 October 2024 at 09:06

The Central Board of Indirect Taxes and Customs (CBIC) has issued an important clarification regarding various doubts related to Section 128A of the Central Goods and Services Tax (CGST) Act, 2017.

Posted in GST | 1 comments | 2616 Views

New 'GSTN e-Services' App Launches on Play Store to Simplify GST Transaction Tracking for Traders and Businesses

16 October 2024 at 09:05

The Goods and Services Tax Network (GSTN) has introduced a new 'GSTN e-Services' app, now available on the Play Store, aimed at simplifying tax compliance for traders, businesspersons, and merchants.

Posted in GST | 2085 Views

Carmakers Face Rs 10,000 Crore GST Compensation Cess Notices for Utility Vehicles

16 October 2024 at 09:04

Several top automakers, including Mahindra, Tata Motors, Hyundai, and Maruti, have received tax notices for unpaid compensation cess on utility vehicles sold prior to 2022.

Posted in GST | 618 Views

DGGI Nears Completion of Pre-GST Tax Evasion Probes, to Disband Dedicated Unit Soon

16 October 2024 at 09:03

The Directorate General of GST Intelligence (DGGI) is set to wrap up its investigations into pre-GST tax evasion cases, which predominantly pertain to service tax and central excise.

Posted in GST | 462 Views

CBIC Urges App-Based Ride-Hailing Firms to Clarify GST Applicability on Booked Rides

16 October 2024 at 09:03

The Central Board of Indirect Taxes & Customs (CBIC) has given app-based ride-hailing companies one week to submit their written views regarding the applicability of GST on rides booked through their platforms.

Posted in GST | 510 Views

GST Portal Introduces Auto-Populated ITC in GSTR-9 for FY 2023-24

15 October 2024 at 15:19

Starting FY 2023-24, GST system will auto-populate eligible ITC for domestic supplies (excluding reverse charge and imports ITC) from table 3(I) of GSTR-2B to table 8A of GSTR-9.

Posted in GST | 1632 Views