GST News

GST Council to Discuss Online Gaming Taxation and Fake GST Registrations in 54th Meeting

05 September 2024 at 09:09

The upcoming 54th GST Council meeting on September 9, 2024, will focus on key issues such as the taxation of online gaming, ongoing efforts against fake GST registrations, and amendments under the Finance Act, 2024.

Posted in GST | 1311 Views

Unemployed Man Duped in Rs 250 Crore GST Fraud After Falling for Job Scam

04 September 2024 at 09:08

IntroductionAshwani Kumar, a young man from Barsu village in Muzaffarnagar, Uttar Pradesh, was struggling to find employment when he received what seemed to be a lifeline - a job offer through a WhatsApp call.

Posted in GST | 2706 Views

Nitin Gadkari Urges GST Reduction on Flex Fuel Vehicles to 12% to Boost Bioenergy Adoption

04 September 2024 at 09:07

Union Minister for Road Transport and Highways, Nitin Gadkari, has made a compelling case for reducing the Goods and Services Tax (GST) on flex-fuel vehicles to 12%, down from the current 28% levied on internal combustion engine (ICE) vehicles.

Posted in GST | 1803 Views

GSTN issues Advisory on Reporting of supplies to unregistered dealers in GSTR1/GSTR 5

04 September 2024 at 09:05

Govt has reduced the threshold limit for reporting of invoice-wise details of inter-state taxable outward supplies made to unregistered dealers from 2.5 Lakh to 1 Lakh

Posted in GST | 999 Views

GSTN Introduces New Invoice Management System (IMS) for Invoice Corrections

03 September 2024 at 13:34

To enable taxpayers to efficiently address invoice corrections/amendments with their suppliers through the portal, a new communication process called the Invoice Management System (IMS) is being brought up at portal.

Posted in GST | 3639 Views

GSTN Updates "Bank Accounts" Section Interface in Non-Core Fields Amendment on GST Portal

03 September 2024 at 09:13

The Goods and Services Tax Network (GSTN) has recently rolled out an update to the "Bank Accounts" section within the "Amendment of Registration Non-Core Fields" on the GST portal.

Posted in GST | 780 Views

Vodafone Idea Hit with Nine GST Notices Demanding Rs 73 Crore

03 September 2024 at 09:10

Debt-laden telecom giant Vodafone Idea is facing fresh challenges as it has been hit with Goods and Services Tax (GST) demand notices totalling Rs 73 crore from various tax offices across India.

Posted in GST | 1716 Views

Infosys Hit with Rs 3 Crore Tax Penalty Over Alleged Discrepancies in ITC and Payments

02 September 2024 at 08:59

Infosys has been issued a penalty notice exceeding Rs 3 crores by the Deputy Commissioner of Commercial Taxes in Bengaluru. The penalty, which pertains to alleged discrepancies in tax payments and the excessive use of ITC for the financial year 2019-20

Posted in GST | 3324 Views

GST Collections Surge 10% in August to Rs 1.75 Lakh Crore

02 September 2024 at 08:56

Gross and Net GST revenue collections for the month of Aug, 2024

Posted in GST | 1686 Views

Shipping Corporation Faces Rs 160 Crore GST Demand for FY20 Due to Input Credit Mismatch

31 August 2024 at 09:13

On Thursday, August 29, 2024, state-owned Shipping Corporation of India Ltd (SCI) announced it had received a significant demand order from the Deputy Commissioner of State Tax in Mumbai, amounting to ₹160.37 crore.

Posted in GST | 660 Views