GST News

CBIC unveils 'Samay' app to expedite tax appeal resolution and reduce litigation time

12 January 2024 at 09:11

In a significant move to enhance efficiency and reduce the time taken for tax appeals, the Central Board of Indirect Taxes & Customs (CBIC) is set to roll out a new mobile application named 'Samay.'

Posted in GST | 5040 Views

Withdrawal of E-Way Bill Generation Restriction Without e-Invoice/IRN

10 January 2024 at 16:33

As of January 10, 2023, the earlier decision to restrict the creation of E-Way Bills exclusively to those accompanied by e-Invoice/IRN has been reversed, as per the recent update in the GST E-way bill system.

Posted in GST | 24843 Views

CBIC Seeks Stakeholder Insights on Harmonizing GST Rate Schedule and Service Classification

10 January 2024 at 08:53

As per Notification No. 12/2017-Central Tax dated June 28, 2017, as amended by Notification No. 78/2020-Central Tax dated October 15, 2020, taxpayers having turnover up to Rs. 5 Crore

Posted in GST | 2982 Views

Resolve GSTR-1 Errors with Updated E-commerce Data in Table 8 for Error-Free Summaries

10 January 2024 at 08:53

Goods and Services Tax Return (GSTR) process undergoes a significant enhancement with the redesign of Table 8, specifically addressing the declaration of e-commerce data.

Posted in GST | 6195 Views

Study Reveals Uneven GST Collections Among States: 8 Regions Propel Revenue Growth

10 January 2024 at 08:52

Even as the overall Goods and Services Tax (GST) collections surpassed Rs 1.6 lakh crore in most months of the fiscal year, a recent study has brought attention to the uneven growth in consumption demand among Indian states.

Posted in GST | 2844 Views

GST Authorities Issue Rs 1.45 Lakh Crore in Notices for FY18 in December

09 January 2024 at 08:34

In a sweeping move, Goods and Services Tax (GST) authorities have issued demand notices totaling ₹1.45 lakh crore to approximately 1,500 businesses in December.

Posted in GST | 3432 Views

Supreme Court Seeks Centre's Response on 28% GST for Online Gaming

09 January 2024 at 08:34

The Supreme Court of India has issued a notice to the Union government, demanding a response to a plea filed by online gaming companies challenging tax demands amounting to ₹1.5 lakh crore.

Posted in GST | 2691 Views

LIC Faces Rs 663 Crore GST Demand Notice

08 January 2024 at 08:56

Life Insurance Corporation of India (LIC) encountered a significant setback as tax authorities issued a demand notice amounting to approximately Rs 663.45 crore.

Posted in GST | 3267 Views

Vodafone Idea Challenges Rs 10.7 Crore CGST Penalty, Seeks Reversal

08 January 2024 at 08:55

Vodafone Idea Challenges Rs 10.76 Crore Penalty Under GST Act; Seeks Rectification and Reversal

Posted in GST | 5148 Views

29,273 Bogus Firms Involved in Rs. 44,015 Crore ITC Scam - 121 Individuals Apprehended

08 January 2024 at 08:53

29,273 bogus firms involved in suspected Input Tax Credit (ITC) evasion of Rs. 44,015 crore detected in a sustained drive against non-existent taxpayers by GST formations across the country since May 2023; 121 arrested

Posted in GST | 3423 Views