GST News

Biocon Faces Rs 3 Crore Penalty Over GST Reporting Errors

24 February 2024 at 09:00

Biocon Ltd, a leading biopharmaceutical company, disclosed in a regulatory filing that it has been served with an order of adjudication, imposing a penalty of Rs 3,03,78,465.

Posted in GST | 4569 Views

GSTN to Share Data with RBI's Public Tech Platform for Frictionless Credit

24 February 2024 at 08:59

In a significant development aimed at facilitating smoother access to credit for businesses, the Government of India has granted permission to the GSTN to share data of GST-registered entities with RBI 'Public Tech Platform for Frictionless Credit'.

Posted in GST | 4428 Views

GSTN launches revamped e-invoice master information portal

21 February 2024 at 09:03

Advisory: Enhanced E-Invoicing Initiatives & Launch of Enhanced https://einvoice.gst.gov.in portal

Posted in GST | 19368 Views

GST's Impact: Officer Affirms Nearly Resolved Tax Avoidance Issue

20 February 2024 at 09:08

Assistant Commissioner of Commercial Tax, Mahesh Patil, lauded the Goods and Services Tax (GST) as a monumental achievement in India's tax history, asserting its transformative impact on tax collection mechanisms.

Posted in GST | 2259 Views

MSME Minister Launches Rs 20 Lakh Scheme for GST-Exempted Micro Units Under CGTMSE

19 February 2024 at 09:02

MSME Minister Narayan Rane has initiated a transformative scheme tailored for Informal Micro Enterprises (IMEs), aiming to enhance their access to credit facilities and alleviate financial constraints.

Posted in GST | 1 comments | 42657 Views

CBIC Releases Revised Guidelines and Formats for Arrest and Incident Reports

17 February 2024 at 08:53

In a proactive move to bolster anti-smuggling measures, the CBIC has issued Instruction No. 02/2024-Customs, dated February 15, 2024.

Posted in GST | 3948 Views

Builders Under GST Scrutiny: Notices Issued to Reverse ITC

16 February 2024 at 08:58

In a significant development, the Goods and Services Tax (GST) department has initiated action against numerous builders, issuing notices to reverse Input Tax Credit (ITC) claimed for the fiscal years 2017-18 and 2018-19.

Posted in GST | 1 comments | 18486 Views

Star Health Faces Rs 170 Crore GST Demand, Rs 8.7 Crore Penalty Notice

16 February 2024 at 08:58

In a recent development, Star Health and Allied Insurance Company Ltd disclosed receiving a significant tax demand order amounting to Rs 170 crore

Posted in GST | 2604 Views

GST Department Intensifies Efforts to Meet FY24 Targets

15 February 2024 at 09:08

Despite a robust increase in monthly GST collections, the Revenue department is intensifying efforts to ensure it meets the collection targets for the fiscal year.

Posted in GST | 8256 Views

GST Council Set to Clarify Expat Salary Taxation Amidst Controversy

14 February 2024 at 09:02

The Goods and Services Tax (GST) Council is deliberating on issuing a circular to resolve the recent controversy surrounding notices sent to Indian subsidiaries of foreign companies regarding the taxation of salaries paid to expatriates.

Posted in GST | 2868 Views