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 …
This Invoice Management system (IMS) will be available on the GST portal starting October 1st. This will allow recipient taxpayers to review and either accept, reject, or keep invoices pending for later action. The GST Network (GSTN) is set to …
The Court gave 10 days to the petitioner to file a reply, and the proper officer was instructed to pass a new GST order under Section 73(9) within 4 weeks of the personal hearing. In a significant ruling, in case …
With critical sectors like insurance, petroleum, and online gaming under scrutiny, this GST council meeting could set the course for the future of India’s indirect tax system. The 54th GST Council Meeting is set to take place on September 9, …
The Consignment arrived in Bhubaneswar on Monday by air and was being transported in two vans operated by a Mumbai-based logistics company specializing in jewellery transportation. A large consignment of gold and silver ornaments, seized by state commercial taxes and …
The court emphasizing that taxpayers must present comprehensive evidence, including details of the selling dealer, freight payments, and vehicle information, to prove the physical movement of goods and the genuineness of the transaction. In a landmark ruling in case of …
If no personal gain is proven, such penalties could face constitutional challenges in appellate forums or high courts. Personal Penalties on Executives: The Directorate General of Goods and Services Tax Intelligence (DGGI) has recently issued thousands of notices to various …
The Madras High Court ruled that the department’s refusal to condone the one-day delay and the subsequent issuance of the SCN under Section 73(1) was unfair. In a crucial judgment, the Madras High Court has excused a one-day delay in …
The Council, in its 54th meeting scheduled for September 9, will discuss the GoM’s findings and the next steps in GST slab/rate rationalization efforts. GST Slab & Rate Change: The Group of Ministers (GoM) meeting on Goods and Services Tax …
The conference focused on sector-specific enforcement challenges, emerging evasion tactics, and innovative strategies to strengthen enforcement efforts. The second edition of the National Conference of Enforcement Chiefs from State and Central GST Formations took place in New Delhi on August …
The incident dates back to May 7, when Tripathy intercepted a vehicle in Jajpur Road, Odisha, carrying 22,240 kg of MS scrap worth Rs. 8,89,600 at Ravana in Jajpur. In a significant development, Vigilance officials arrested Binay Bhusan Tripathy, Assistant …
The recent guideline emphasizes that, during the audit process, if a Principal Commissioner of CGST Audit encounters scenarios where taxpayers have followed prevalent trade practices based on specific interpretations of GST laws, which could lead to multiple understandings and potential …
IIT-D has been given a 30-day window to respond to the notice, explaining why the demanded amount and associated penalties should not be collected. The Indian Institute of Technology-Delhi (IIT-D) has received a show-cause notice from the Directorate General of …
The proposals to reduce or eliminate the 18% GST rate on health insurance premiums likely to be considered in the upcoming meeting. The 54th GST Council meeting is expected to be convened in Delhi on September 9 to address key …
CBIC Instruction Dated 12 August 2024: Guidelines for 2nd All-India Drive against Fake GST Registrations The Central Board of Indirect Taxes & Customs (CBIC) has issued new guidelines in preparation for the second All-India drive against fake GST registrations, as …
CBIC uncovered fraudulent Input Tax Credit (ITC) amounting to Rs. 36,374 crore, involving 9,190 cases in the FY 2023-24. The Central Tax formations under the Central Board of Indirect Taxes and Customs (CBIC) uncovered fraudulent Input Tax Credit (ITC) amounting …
Clarification on Time Limits for Input Tax Credit under RCM Supplies from Unregistered Persons- CBIC Circular 211/5/2024-GST Dated 26 June 2024 The Central Board of Indirect Taxes and Customs (CBIC) has issued Circular 211/5/2024-GST to provide clarity regarding the time …
CBIC Circular No. 207/1/2024-GST: Fixing Monetary Limits for Filing Appeals or Applications by the Department before GSTAT, High Courts and Supreme Court Section 120 of the Central Goods and Services Tax Act, 2017 (CGST Act) empowers the Central Board of …
Recommendations of 53rd GST Council Meeting on June 22, 2024 in New Delhi The 53rd GST Council Meeting, chaired by Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman, convened in New Delhi on June 22, 2024. The meeting …