GST News
Softy Ice-Cream Mix Classified as Sugar-Based, Will Attract 18% GST: AAR Ruling
22 October 2024 at 08:45In a recent ruling, the Rajasthan bench of the GST AAR determined that the softy ice-cream mix, sold by VRB Consumer Products, is primarily sugar-based, and not a milk product. As a result, it will attract a Goods and Services Tax (GST) rate of 18%.
GST Scam Exposes 35 Accused, Chartered Accountants in the Spotlight
22 October 2024 at 08:41In a rapidly unfolding investigation into a multi-crore GST scam, 35 individuals have been named as accused, including Siddharth Barad, nephew of BJP MLA Bhaga Barad.
GST Panels Propose Major Rate Changes for 100+ Products
22 October 2024 at 08:41The GoM will submit its recommendations to the GST Council by October-end, which will make the final decision. Additionally, the panel also addressed the GST on around 100 products.
GoM Proposes GST Exemption on Life and Health Insurance Premiums for Senior Citizens
21 October 2024 at 08:42In a significant development for the insurance sector, the Group of Ministers (GoM) has proposed exempting Goods and Services Tax (GST) on term life insurance premiums and health insurance premiums paid by senior citizens.
GoM Proposes Lower GST on Water Bottles and Bicycles; Higher Taxes on Luxury Shoes and Watches
21 October 2024 at 08:42The Group of Ministers (GoM) on Goods and Services Tax (GST) rate rationalisation met on Saturday to discuss significant tax adjustments aimed at easing the financial burden on consumers.
GoM Discusses Merger of GST Compensation Cess into Main Tax Structure
19 October 2024 at 08:05The Group of Ministers (GoM) on GST Compensation Cess, led by Minister of State for Finance Pankaj Chaudhary, convened on October 16 to explore the potential merger of the compensation cess into the broader Goods and Services Tax (GST) framework.
Accountant Accused of Rs 5 Crore GST Scam Using Defunct Factory's GST Number
19 October 2024 at 08:05In a shocking incident from Jamnagar, a local accountant has been accused of scamming a factory owner by fraudulently reactivating a defunct GST number.
GST Fraud Crackdown: Commissioner Unveils New Tactics, Biometric Tech to Catch Masterminds
18 October 2024 at 09:10Since the introduction of the Goods and Services Tax (GST) in 2017, a sophisticated scam has flourished, exploiting systemic loopholes and siphoning thousands of crores from the exchequer each year.
Finance Ministry Amends GST Recruitment Rules 2024: OBC Inclusion & Qualification Relaxation
18 October 2024 at 09:09Ministry of Finance has issued Notification No. 109 (F. No. A-50050/2/2024-Ad.I) dated October 16, 2024, amending the Goods and Services Tax (GST) Council Secretariat, Group ‘A’ Executive Posts Recruitment Rules, 2018
GSTN Releases Additional FAQs on IMS
18 October 2024 at 09:09Invoice 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).
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