In the context of GST, the phrase “regularized on an as is, where is basis” means that tax payments made at a lower rate, or exemptions claimed by taxpayers, will be accepted. Additionally, no refund will be provided if the …
This Clarification regarding GST rates & classification (goods) is based on the recommendations of the GST Council in its 54th meeting held on 9th September, 2024, at New Delhi. Clarification regarding GST Rates & Classification of certain Goods: Based on …
As per this waiver, the total late fee, as per Section 47 of CGST Act, will not exceed Rs. 1,000 for each delayed GSTR-7 return filing. The Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 23/2024-CT, …
As per the Notification, the Taxpayers against whom an order under sections 73, 74, 107, or 108 of the CGST Act has been passed, confirming the demand for wrong ITC availment in contravention of section 16(4), are eligible to apply …
Taxpayers who transport goods via Indian Railways’ Parcel Management System (PMS) must make the accurate entry of the Parcel Way Bill (PWB) number or RR No. into Part-B of the e-way bill on the EWB portal. Guidelines for Accurate Entry …
GSTN Advisory 528: GSTN e-Services App launched to replace the existing e-Invoice QR Code Verifier App The GSTN (Goods and Services Tax Network) is excited to announce the launch of its new GSTN e-Services App, which will soon replace the …
Notification No. 18 & 19 of 2024 (Central Tax) In a recent update, the Central Government, vide Notification 18/2024-CT, has taken a significant step by empowering the Principal Bench of the Goods and Services Tax Appellate Tribunal (GSTAT) to ensure …
If an Appointment Booking Link is provided after submission of form GST REG 1, the applicant must book an appointment to visit a GST Suvidha Kendra (GSK) for Biometric-Based Aadhaar Authentication and document verification. As per Advisory No. 525 dated …
GoM reached a consensus on the need to provide relief to the common man. If tax rates on essential goods are reduced, alternative measures will be explored to make up for the lost revenue. The Group of Ministers (GoM) on …
Taxpayers can verify the validity of any document issued by tax officers through the GST common portal. The verification can be done both before and after logging in. Concerns have been raised regarding the validity of documents issued by tax …
The Invoice Management System (IMS) is a feature within the GST system where the invoices or records saved or filed by the supplier in GSTR-1/1A/IFF can be accepted, rejected, or kept pending by recipients to accurately avail ITC. With the …
The CGST Act mandates that any order for tax recovery under Section 74 must be issued within 5 years from the due date for filing the annual return for the relevant financial year. Under the Central Goods and Services Tax …
The GST Act, 2017 is a special legislation that holistically deals with procedures, penalties, and offences relating to GST. Authorities cannot bypass these procedures and invoke the IPC In a significant ruling, the Madhya Pradesh High Court has held that …
The court also ordered the respondents to reactivate the GST portal within one week, enabling the petitioner to file returns and pay off all liabilities. However, the court specified that if the petitioner fails to meet the compliance requirements within …
The decision to form the GoM was partly influenced by demands from opposition-ruled states, such as West Bengal, which advocated for a complete exemption of GST on life and health insurance premiums. Several other states suggested lowering the GST rate …
Clarification in respect of advertising services provided to foreign clients The Central Board has issued a clarification in light of queries from trade and industry regarding advertising services provided by Indian companies to foreign clients. These clarifications aim to address …
Section 75(2) of the Act specifies that if any Appellate Authority, Appellate Tribunal, or Court determines that a notice issued under section 74(1) is unsustainable due to the failure to establish fraud, wilful misstatement, or suppression of facts to evade …
Recommendations of 54th GST Council Meeting The 54th GST Council meeting, chaired by the Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman, was held in New Delhi on 9th September 2024. The meeting included Union Minister of State …
These 4 options of GST Relief on Health Insurance stem from a detailed analysis by the Council’s fitment panel, comprising both central and state revenue officials. The Goods and Services Tax (GST) Council is expected to address four crucial options …
Reporting of Inter-State Taxable Supplies to Unregistered Dealers (B2C): The Indian government has introduced a notable amendment on reporting supplies to unregistered dealers under Notification No. 12/2024 – Central Tax, dated 10th July 2024. As per the notification, the threshold …