GST News

GoM Proposes GST Cut on Educational Materials, Hike for High-Value Apparel

27 September 2024 at 09:15

The Group of Ministers (GoM) on GST rate rationalisation, in its meeting held in Goa on Wednesday, expressed support for reducing the GST rate on education materials from 12% to 5% to provide relief to a broad section of the population.

Posted in GST | 378 Views

GoM Fails to Reach Consensus on GST Rate Rationalisation, Over 100 Items Reviewed

27 September 2024 at 09:11

The Group of Ministers (GoM) on GST rate rationalisation, which convened in Goa on Wednesday, reviewed GST rates for over 100 items, including textiles, handloom goods, agricultural products, fertilisers, and educational materials.

Posted in GST | 855 Views

GoM Meeting: No Final Decision on GST Rate Cut for Life and Health Insurance

27 September 2024 at 09:09

The GoM meeting held on 25th September 2024, ended without a final decision on the proposal to reduce GST rates on life and health insurance.

Posted in GST | 885 Views

GoM Meeting in Goa Decides No Further GST Exemptions for Long-Term Land Leases

27 September 2024 at 09:07

The fourth meeting of the Group of Ministers (GoM) on boosting the real estate sector, hosted by Goa Chief Minister Pramod Sawant on September 24, 2024, concluded with a key decision to maintain the existing Goods and Services Tax (GST) regime.

Posted in GST | 453 Views

GSTN Issues Advisory on Issuance of Notices/Orders without Digital Signatures of the Issuing Authorities

27 September 2024 at 09:04

Doubts have been created regarding the validity of documents issued by the tax officers on the common portal viz. Show cause Notices

Posted in GST | 3228 Views

GSTN CEO Confirms Completion of Design Architecture for B2C E-Invoicing for Retailers

26 September 2024 at 09:20

The design architecture for implementing GST e-invoicing for retailers is nearly finalized and undergoing expert review, according to GST Network CEO Manish Kumar Sinha.

Posted in GST | 5067 Views

CBIC Official: Data Discrepancies Behind Most GST Show-Cause Notices in 2023-24

26 September 2024 at 09:16

A significant number of the show-cause notices issued to taxpayers under the GST regime in 2023-24 stemmed from data discrepancies in tax return filings, a senior indirect tax official said on Tuesday.

Posted in GST | 8616 Views

Infosys May Get Full Relief on Reverse-Charge GST as CBIC Considers Key Modifications

26 September 2024 at 09:13

CBIC is considering amending its June 26, 2024, circular to quash Goods and Services Tax (GST) liabilities for Infosys and similar companies facing tax demands on fund transfers to their overseas branches.

Posted in GST | 1416 Views

GoM Unlikely to Offer Relief to Real Estate Sector on Joint Development Agreements

26 September 2024 at 09:12

Most members of the Group of Ministers (GoM) of the Goods and Services Tax (GST) Council have indicated they are not in favor of providing any tax relief to the real estate sector concerning Joint Development Agreements (JDAs).

Posted in GST | 546 Views

7 Arrested for Rs 900 Crore GST Scam Involving 48 Shell Companies

26 September 2024 at 09:10

In a major breakthrough, Uttar Pradesh police uncovered a large-scale GST fraud syndicate, arresting seven individuals in Muzaffarnagar on Tuesday.

Posted in GST | 2 comments | 1410 Views