GST News

CBIC Issues Key Notification to Strengthen Central Excise and Service Tax Jurisdiction

24 January 2025 at 09:23

In a significant move to streamline the administration of indirect taxes, the CBIC issued Notification No. 01/2025-Central Excise (N.T.), designating and empowering specific Central Excise Officers with enhanced jurisdiction and authority.

Posted in GST | 1863 Views

CBIC Waives Late Fees for Filing GSTR-9C for FY 2017-18 to FY 2022-23

24 January 2025 at 09:17

The Ministry of Finance waives late fees for delayed filing of GSTR-9C reconciliation statements for FY 2017-18 to FY 2022-23, if filed by March 31, 2025. Learn more about the relief for taxpayers.

Posted in GST | 1 comments | 5820 Views

CBIC Amends GST Rules to Enhance Compliance for Composition Taxpayers via FORM GST CMP-02

24 January 2025 at 09:14

CBIC introduces amendments to GST Rules, 2025, enabling composition taxpayers to furnish key information in FORM GST CMP-02. These changes aim to simplify compliance and improve transparency in the GST framework.

Posted in GST | 10776 Views

CBIC Introduces Temporary Identification Number in GST Rules 2025

24 January 2025 at 09:12

The Central Board of Indirect Taxes and Customs (CBIC) has amended GST Rules, 2025, introducing a Temporary Identification Number (TIN) for individuals or entities not liable for GST registration but required to make payments under the Act.

Posted in GST | 6279 Views

GSTN Resolves Duplicate Entry Issue in GSTR-2B: Advisory for Taxpayers Filing GSTR-3B

23 January 2025 at 09:12

The Goods and Services Tax Network (GSTN) has addressed and resolved an issue concerning duplicate entries in GSTR-2B for certain taxpayers. A corrected GSTR-2B has now been generated.

Posted in GST | 2712 Views

GSTN Rolls Out Phase-III Changes to Table 12 of GSTR-1 & GSTR-1A Effective February 2025

23 January 2025 at 09:09

Implementation of mandatory mentioning of HSN codes in GSTR-1 & GSTR 1AAfter successful implementation of Phase-I & Phase-II now Phase-III regarding Table 12 of GSTR-1 & 1A is being implemented, from return period February 2025.

Posted in GST | 3303 Views

DGGI Busts Rs 11 Crore GST Input Tax Credit Fraud

20 January 2025 at 08:48

In a significant breakthrough, the Directorate General of GST Intelligence (DGGI), Bhubaneswar Zone, has unearthed a massive GST fraud involving bogus input tax credit (ITC) transactions worth Rs 11 crore.

Posted in GST | 23526 Views

US-India Tax Forum Proposes Key Tax Reforms Ahead of Union Budget 2025

18 January 2025 at 07:55

Ahead of the Union Budget 2025, the US-India Tax Forum, under the US-India Strategic Partnership Forum (USISPF), has put forth recommendations aimed at simplifying India's tax framework and boosting investor confidence.

Posted in GST | 696 Views

CBIC Clarifies GST Rules on Pre-Packaged Goods and Gene Therapy

18 January 2025 at 07:55

In a significant update, the Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 02/2025-Central Tax (Rate) on January 16, 2025, amending the Central Goods and Services Tax Act, 2017 (CGST Act).

Posted in GST | 2217 Views

CBIC Amends Customs Duty Exemptions for LRSAM Equipment

18 January 2025 at 07:54

In a move to strengthen India's defense capabilities, the Central Government has issued Notification G.S.R. 64(E), making further amendments to the Notification No. 19/2019-Customs, dated July 6, 2019.

Posted in GST | 699 Views