GST News

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 | 18681 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 | 2682 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 | 8466 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 | 2967 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 | 4101 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 | 3513 Views

Taxpayers Can Opt for FY 2024-25 Composition Scheme on GST Portal by 31st March 2024

13 February 2024 at 09:09

GSTN has introduced a significant update, enabling taxpayers to opt for the Composition Scheme for the Financial Year 2024-25.

Posted in GST | 6945 Views

Beware of Fake GST Summons, Verify Authenticity with CBIC Tools

12 February 2024 at 09:16

Caution against fraudsters sending fake and fraudulent Summons for GST violations

Posted in GST | 8208 Views

CGST Recovers Rs 1.25 Crore GST from 10 Garment Traders in Indore

12 February 2024 at 09:15

In a significant move against tax evasion, the Central Goods and Service Tax Department (CGST) has successfully recovered ₹1.25 crore from 10 readymade garments traders in the city of Indore.

Posted in GST | 2979 Views

Centre Owes Gujarat Rs 1,600 Crore in GST Returns

12 February 2024 at 09:15

In a recent development in the Gujarat State Assembly, Finance Minister Kanu Desai disclosed that the state has been pursuing over ₹1,500 crore in Goods and Services Tax (GST) returns from the central government.

Posted in GST | 2385 Views