GST News

GoM Discusses Merger of GST Compensation Cess into Main Tax Structure

19 October 2024 at 08:05

The 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.

Posted in GST | 564 Views

Accountant Accused of Rs 5 Crore GST Scam Using Defunct Factory's GST Number

19 October 2024 at 08:05

In a shocking incident from Jamnagar, a local accountant has been accused of scamming a factory owner by fraudulently reactivating a defunct GST number.

Posted in GST | 912 Views

GST Fraud Crackdown: Commissioner Unveils New Tactics, Biometric Tech to Catch Masterminds

18 October 2024 at 09:10

Since 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.

Posted in GST | 1296 Views

Finance Ministry Amends GST Recruitment Rules 2024: OBC Inclusion & Qualification Relaxation

18 October 2024 at 09:09

Ministry 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

Posted in GST | 3714 Views

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 | 1056 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 | 2568 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 | 11481 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 | 4974 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 | 2841 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 | 2202 Views