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GST News


CBIC Issues Clarification on GST Rates and Classification of Goods Following 54th GST Council Meeting

   14 October 2024 at 09:07

The Central Board of Indirect Taxes and Customs (CBIC) has released a significant clarification on GST rates and classification of goods through Circular No. 235/29/2024-GST, dated October 11, 2024.

Posted in GST |   2655 Views


GSTN Issues Advisory for Taxpayers: New GST Provision for Metal Scrap Transactions

   14 October 2024 at 09:05

The government has issued Notification 25/2024-Central Tax, on October 9, 2024 under GST Section 51 of the CGST Act, 2017 mandating compliance by businesses dealing with Metal Scrap.

Posted in GST |   990 Views


Fake ITC Fraud Worth Rs 48 Crore Uncovered by CGST in Mumbai

   12 October 2024 at 09:11

In a significant crackdown on tax fraud, the anti-evasion team of Thane Central Excise & CGST Commissionerate Mumbai Zone uncovered a massive fake Input Tax Credit (ITC) racket worth ₹48 crores.

Posted in GST |   1041 Views


Record E-Way Bill Surge in September Signals Festival Season Boost

   12 October 2024 at 09:06

India's supply chain activity reached a new peak in September, with e-way bill generation hitting 109 million, an 18% increase compared to the same period last year, according to data from GSTN.

Posted in GST |   255 Views


DGGI Arrests Two Masterminds in Rs 700 Crore Fake Billing GST Fraud

   12 October 2024 at 09:00

In a major crackdown on GST fraud, the Directorate General of GST Intelligence (DGGI) has arrested two key players, Manish and Amit, residents of Gurmukh Singh Colony, Mandi Gobindgarh, in connection with a fake billing scheme worth over ₹700 crores.

Posted in GST  1 comments |   969 Views


Union Minister Pankaj Chaudhary Inaugurates GST Bhawan in Delhi, Highlights Simplified Tax Compliance Initiatives

   11 October 2024 at 09:17

Union Minister of State for Finance Shri Pankaj Chaudhary inaugurated the state-of-the-art Goods and Services Tax (GST) office building in Nangal Raya, Delhi

Posted in GST |   252 Views


CBIC Updates Penal Provisions in Form GST INS-01 in Line with Bharatiya Nyaya Sanhita, 2023

   11 October 2024 at 09:01

In a major update to the penal provisions for inspection and search operations under the GST regime, the CBIC, through Notification No. 20/2024 - Central Tax dated October 08, 2024, has made a crucial substitution in FORM GST INS-01.

Posted in GST |   558 Views


CBIC Notifies Prohibiting Consolidated Invoices for Supplies Under RCM

   11 October 2024 at 08:59

CBIC has introduced a significant update under the Central Goods and Services Tax (Second Amendment) Rules, 2024, which restricts the issuance of consolidated invoices for supplies covered under the RCM.

Posted in GST |   8118 Views


CBIC Notifies New GST Forms for Cancellation and Suspension of GST Registration

   10 October 2024 at 14:35

The Central Board of Indirect Taxes and Customs (CBIC), through the Central Goods and Services Tax (Second Amendment) Rules, 2024, has introduced key changes in procedures related to the cancellation and suspension of GST registration.

Posted in GST |   3420 Views


CBIC Updates Form GSTR-9: ITC as per GSTR-2A Replaced with GSTR-2B

   10 October 2024 at 14:34

The Central Board of Indirect Taxes and Customs (CBIC), through Notification No. 20/2024 – Central Tax issued on October 8, 2024, has implemented a key amendment to FORM GSTR-9 under the Central Goods and Services Tax (CGST) Rules, 2017.

Posted in GST |   8016 Views