GST News

CBIC Issues Clarifications on GST Applicability for Specific Services

14 October 2024 at 09:08

The Central Board of Indirect Taxes and Customs (CBIC) has released crucial clarifications on the applicability of Goods and Services Tax (GST) on certain services through Circular No. 234/28/2024-GST

Posted in GST | 9213 Views

CBIC Issues Clarification on "As Is / As Is, Where Is Basis" mentioned in GST Circulars

14 October 2024 at 09:08

The Central Board of Indirect Taxes and Customs (CBIC) has provided crucial clarification regarding the scope of the "as is / as is, where is basis" terminology used in previous GST circulars. Issued on October 11, 2024, Circular No. 236/30/2024-GST

Posted in GST | 5046 Views

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 | 3195 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 | 1554 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 | 1719 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 | 465 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 | 1554 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 | 651 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 | 804 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 | 9036 Views