GST News

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 | 42717 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 | 4038 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 | 18546 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 | 2643 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 | 8298 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 | 2889 Views

Industry Urges Govt for Doubling GST Registration Threshold to Rs 40 Lakh

13 February 2024 at 09:13

During FTCCI event, industry leaders urged the Chief Minister and State Finance Minister to consider raising the GST registration threshold from Rs 20 lakh to Rs 40 lakh annually

Posted in GST | 4059 Views

Supreme Court Issues Notice to Central Govt on GST Anti-Profiteering Provisions

13 February 2024 at 09:12

The Supreme Court has taken a significant step by issuing a notice to the union government regarding the constitutional validity of anti-profiteering provisions under the Goods and Services Tax (GST).

Posted in GST | 3471 Views