GST News

Gujarat's GST Departments Launch Drive Against Bogus Registrations Amid Tax Evasion Concerns

21 September 2024 at 06:49

In a decisive move to combat the rising tide of tax evasion through bogus billing scams, the state and central Goods and Services Tax (GST) departments in Gujarat have initiated a comprehensive drive to identify and cancel fraudulent GST registrations.

Posted in GST | 1644 Views

IGST Panel Finalizes Action Plan to Resolve 'Negative Balance' Issue

21 September 2024 at 06:47

The Indian government has initiated a comprehensive review of IGST settlement mechanism following complaints from several state governments about revenue shortfalls.

Posted in GST | 1923 Views

Food Processing Ministry to Address Industry's GST Concerns with GST Council: Chirag Paswan

21 September 2024 at 06:35

In a strategic move to enhance the food processing sector, the Centre organized a high-level CEO roundtable on September 19, 2024, as part of the World Food India 2024 event.

Posted in GST | 1449 Views

Sun Pharma Faces Rs 35.43 Lakh GST Penalty for Unpaid Taxes on Recoveries from July 2017 to March 2020

20 September 2024 at 09:19

Sun Pharmaceutical Industries Limited has been penalized by the Assistant Commissioner, Goods & Service Tax, Division, Mohali-I, Punjab, according to a recent stock exchange filing.

Posted in GST | 606 Views

SpiceJet Discloses Rs 427 Crore Unpaid GST, TDS and PF Dues Since 2020

20 September 2024 at 09:16

Budget airline SpiceJet disclosed on Tuesday that it has not paid statutory dues totalling Rs 427 crore from April 2020 to August 2024 due to severe financial constraints.

Posted in GST | 1626 Views

E-Way Bill Generation Hits Record 10.54 Crore in August

20 September 2024 at 09:14

Improved compliance and stricter enforcement by GST field formations have led to a surge in e-way bill generation, reaching an all-time high of 10.54 crore in August 2024, according to data from the Goods and Services Tax Network (GSTN).

Posted in GST | 486 Views

Zomato Hit with Rs 17.7 Crore GST Demand Order

19 September 2024 at 09:08

Online food delivery platform Zomato has received a GST demand order totaling Rs 17.7 crore from the Assistant Commissioner of Revenue, West Bengal.

Posted in GST | 621 Views

CBDT Issues SOP for Handling Internal Audit Objections

18 September 2024 at 09:20

The Central Board of Direct Taxes (CBDT) has issued Instruction No. 2/2024 on September 09, 2024, revising the Standard Operating Procedure (SOP) for handling internal audit objections in tax assessments.

Posted in GST | 4374 Views

FM Sitharaman Hints at GST Rate Rationalisation to Simplify Tax Structure

18 September 2024 at 09:12

On September 16th, Monday, Union Finance Minister Nirmala Sitharaman said that the Narendra Modi government is keen on the process of rationalising the GST rates to make them hassle-free and there is also the likelihood of a reduction of rates.

Posted in GST | 2607 Views

GSTN Releases Draft Manual on Invoice Management System

18 September 2024 at 09:10

In a significant leap forward in the Goods and Services Tax (GST) ecosystem, the GST Common Portal has unveiled a ground breaking new facility, the Invoice Management System (IMS), revolutionizing the way recipient taxpayers interact with invoices.

Posted in GST | 3645 Views