GST News
IGST Panel Finalizes Action Plan to Resolve 'Negative Balance' Issue
21 September 2024 at 06:47The Indian government has initiated a comprehensive review of IGST settlement mechanism following complaints from several state governments about revenue shortfalls.
Food Processing Ministry to Address Industry's GST Concerns with GST Council: Chirag Paswan
21 September 2024 at 06:35In a strategic move to enhance the food processing sector, the Centre organized a high-level CEO roundtable on September 19, 2024, as part of the World Food India 2024 event.
Sun Pharma Faces Rs 35.43 Lakh GST Penalty for Unpaid Taxes on Recoveries from July 2017 to March 2020
20 September 2024 at 09:19Sun Pharmaceutical Industries Limited has been penalized by the Assistant Commissioner, Goods & Service Tax, Division, Mohali-I, Punjab, according to a recent stock exchange filing.
SpiceJet Discloses Rs 427 Crore Unpaid GST, TDS and PF Dues Since 2020
20 September 2024 at 09:16Budget airline SpiceJet disclosed on Tuesday that it has not paid statutory dues totalling Rs 427 crore from April 2020 to August 2024 due to severe financial constraints.
E-Way Bill Generation Hits Record 10.54 Crore in August
20 September 2024 at 09:14Improved compliance and stricter enforcement by GST field formations have led to a surge in e-way bill generation, reaching an all-time high of 10.54 crore in August 2024, according to data from the Goods and Services Tax Network (GSTN).
Zomato Hit with Rs 17.7 Crore GST Demand Order
19 September 2024 at 09:08Online food delivery platform Zomato has received a GST demand order totaling Rs 17.7 crore from the Assistant Commissioner of Revenue, West Bengal.
CBDT Issues SOP for Handling Internal Audit Objections
18 September 2024 at 09:20The Central Board of Direct Taxes (CBDT) has issued Instruction No. 2/2024 on September 09, 2024, revising the Standard Operating Procedure (SOP) for handling internal audit objections in tax assessments.
FM Sitharaman Hints at GST Rate Rationalisation to Simplify Tax Structure
18 September 2024 at 09:12On September 16th, Monday, Union Finance Minister Nirmala Sitharaman said that the Narendra Modi government is keen on the process of rationalising the GST rates to make them hassle-free and there is also the likelihood of a reduction of rates.
GSTN Issues Advisory On Re-opening of Reporting ITC Reversal Opening Balance
18 September 2024 at 09:07Vide Notification No. 14/2022 - Central Tax dated 05th July, 2022 (read with circular 170/02/2022-GST, Dated 6th July,2022), the Government introduced certain changes in Table 4 of Form GSTR-3B
GSTN Releases Draft Manual on Invoice Management System
18 September 2024 at 09:10In a significant leap forward in the Goods and Services Tax (GST) ecosystem, the GST Common Portal has unveiled a ground breaking new facility, the Invoice Management System (IMS), revolutionizing the way recipient taxpayers interact with invoices.
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