GST News

GST Council's 50th Meeting Clarifies Goods Classification and Rates

02 August 2023 at 08:52

The CBIC vide Circular No. 200/12/2023-GST dated August 01, 2023 has issued clarification regarding GST rates and classification of certain goods based on the recommendations of the GST Council in its 50th meeting held on July 11, 2023.

Posted in GST | 4215 Views

July 2023 GST Collection Smashes Records at Rs. 1,65,105 Crore, Surges 11% YoY

02 August 2023 at 08:51

₹1,65,105 crore gross GST revenue collected for July 2023; records 11% Year-on-Year growth

Posted in GST | 4347 Views

Massive GST Evasion Unearthed: Rs 14,302 Crore Detected in April-May 2023

01 August 2023 at 14:22

In a written reply to the Lok Sabha on Monday, Finance Minister Nirmala Sitharaman said that GST evasion of Rs 14,302 crore was detected in the first two months of the current fiscal year, April-May 2023.

Posted in GST | 3021 Views

Final Extension of 2FA for Large Taxpayers until 20th Aug 2023

01 August 2023 at 08:52

The Mandatory 2 Factor Authentication (2FA) requirement for taxpayers with an Aggregate Annual Turnover (AATO) above 100 Crores has been extended until August 20, 2023

Posted in GST | 9069 Views

Over 4 Lakh Businesses to Issue E-invoices from 1st Aug 2023

01 August 2023 at 08:50

As of August 1, there will be a significant change in the mandatory e-invoicing requirements in India. The aggregate annual turnover threshold for issuing e-invoices will be lowered from ₹10 crore to ₹5 crore.

Posted in GST | 11355 Views

GSTN Introduces Mandatory CA/EC Number Tabs in State Specific Information Section

31 July 2023 at 08:41

GSTN has introduced new tabs in the 'State Specific Information' section of the GST registration form to collect Consumer Agreement (CA) or Electricity Consumer (EC) numbers.

Posted in GST | 23034 Views

Govt Accepts Panel's Recommendation for Online GST Audit Mechanism

29 July 2023 at 08:58

Union government has accepted the recommendation to set up an online audit mechanism under the Goods and Services Tax (GST) to streamline the process.

Posted in GST | 1 comments | 3882 Views