GST News

CAG Report Flags Rs 755.49 Crore GST Revenue Loss in Commercial Tax Department

16 December 2024 at 09:11

A Comptroller and Auditor General (CAG) report tabled in the Assembly on Thursday has highlighted significant revenue lapses within the Goods and Services Tax (GST) and Stamps and Registrations Departments.

Posted in GST | 2 comments | 13701 Views

GST Registration Advisory: Biometric Aadhaar Authentication and Document Verification Rolled Out in Chhattisgarh, Goa & Mizoram

16 December 2024 at 09:01

Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Chhattisgarh, Goa and Mizoram

Posted in GST | 336 Views

Retailers Oppose 35% GST Slab, Urge Finance Minister and Council to Reconsider

14 December 2024 at 09:11

The Indian Sellers Collective, a coalition of trade associations and sellers across India, has strongly opposed the proposal for a fifth GST slab with a 35% rate on demerit goods like aerated beverages, cigarettes, and tobacco.

Posted in GST | 1620 Views

West Bengal Passes GST Amendment Bill 2024 Aligned with Council Recommendations

14 December 2024 at 09:10

West Bengal Finance Minister Chandrima Bhattacharya on Wednesday presented the West Bengal Goods and Services Tax (Amendment) Bill, 2024, aligning the state’s GST framework with recommendations ratified by the GST Council.

Posted in GST | 522 Views

States Express Mixed Reactions to Proposed GST Rate Rationalisation Ahead of 55th GST Council Meeting

13 December 2024 at 06:25

The GoM tasked with GST rate rationalisation has presented proposals that have elicited a mixed response from states, with many expressing concerns about the timing and economic implications of the changes.

Posted in GST | 564 Views

Payment Gateways Push for GST Waiver on Small-Value Transactions

13 December 2024 at 06:25

Ahead of the GST Council meeting on December 21, payment gateway operators have submitted representations to the finance ministry opposing the proposed 18% GST on commissions earned on digital payments below ₹2,000.

Posted in GST | 612 Views

Rs 824 Crore GST Evasion Uncovered in India's Cryptocurrency Sector

12 December 2024 at 09:13

The Indian government has identified Goods and Services Tax (GST) evasion worth ₹824.14 crore across 17 cryptocurrency exchanges, as revealed by Minister of State for Finance Pankaj Chaudhary.

Posted in GST | 744 Views

CBIC Extends GSTR-3B Filing Deadline for Murshidabad, West Bengal

11 December 2024 at 09:08

In a relief to taxpayers in Murshidabad, West Bengal, the Central Board of Indirect Taxes and Customs (CBIC) has extended the deadline for filing GSTR-3B returns for October 2024.

Posted in GST | 630 Views

GST Fraud: Rs 35,132 Crore ITC Evasion Detected, Over 17000 Fake Firms Exposed

11 December 2024 at 09:08

In a significant crackdown on Goods and Services Tax (GST) evasion, authorities have identified fraudulent Input Tax Credit (ITC) claims worth ₹35,132 crore, involving 17,818 fake firms, between April and October 2024.

Posted in GST | 1 comments | 1401 Views

Pre-Budget 2025: MSME Stakeholders Demand GST Cuts, Tech Upgrades and PLI Expansion

10 December 2024 at 09:12

Micro, Small, and Medium Enterprise (MSME) stakeholders urged the government to implement GST reductions, technology upgrades, and extend Production-Linked Incentive (PLI) benefits to various sectors during a pre-Budget meeting with Finance Minister

Posted in GST | 1587 Views