GST News
Nitin Gadkari Urges GST Reduction on Flex Fuel Vehicles to 12% to Boost Bioenergy Adoption
04 September 2024 at 09:07Union 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.
GSTN issues Advisory on Reporting of supplies to unregistered dealers in GSTR1/GSTR 5
04 September 2024 at 09:05Govt 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
GSTN Introduces New Invoice Management System (IMS) for Invoice Corrections
03 September 2024 at 13:34To 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.
GSTN Updates "Bank Accounts" Section Interface in Non-Core Fields Amendment on GST Portal
03 September 2024 at 09:13The 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.
Vodafone Idea Hit with Nine GST Notices Demanding Rs 73 Crore
03 September 2024 at 09:10Debt-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.
Infosys Hit with Rs 3 Crore Tax Penalty Over Alleged Discrepancies in ITC and Payments
02 September 2024 at 08:59Infosys 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
GST Collections Surge 10% in August to Rs 1.75 Lakh Crore
02 September 2024 at 08:56Gross and Net GST revenue collections for the month of Aug, 2024
Shipping Corporation Faces Rs 160 Crore GST Demand for FY20 Due to Input Credit Mismatch
31 August 2024 at 09:13On 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.
CBIC to Notify GST Provisions Under Finance Act 2024 Post 54th GST Council Meeting on 9th September
31 August 2024 at 09:09The Central Board of Indirect Taxes and Customs (CBIC) has announced that the provisions of the Finance (No.2) Act, 2024, related to Goods and Services Tax (GST) will not come into effect until after the 54th GST Council Meeting.
LIC Receives Rs 605.5 Crore GST Demand Order for FY20
30 August 2024 at 09:30Life Insurance Corporation (LIC) of India has been hit with a GST demand and penalty order totalling Rs 605.5 crore for the fiscal year 2019-20 (FY20).
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