GST Advisory on Updates to E-Way Bill and E-Invoice Systems
Posted Date : 18-Dec-2024 , 10:47:57 am | Posted By CASANSAAR
Dec 17th, 2024
GSTN is pleased to announce that NIC will be rolling out updated versions of the E-Way Bill and E-Invoice Systems effective from 1st January 2025. These updates are aimed at enhancing the security of the portals, in line with best practices and government guidelines.
2. Mul...
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GST On Articles by Cooperative Societies
Posted Date : 17-Dec-2024 , 07:37:26 am | Posted By CASANSAAR
GST On Articles by Cooperative Societies
Since its inception on 6th July 2021, it is endevaour of Ministry of Cooperation to encourage states/UTs & cooperative societies to submit their proposals including those related to tax, which are not in parity with the benefits available to other bu...
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Tax Panel May Consider Lowering GST On Online Food Delivery Fees
Posted Date : 17-Dec-2024 , 06:36:15 pm | Posted By CASANSAAR
Tax Panel May Consider Lowering GST On Online Food Delivery Fees
The GST Council, chaired by India’s finance minister, may reduce the tax on food delivery charges by e-commerce platforms from 18% to 5%, effective January 1, 2024, according to sources. However, food delivery platforms like...
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Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Chhattisgarh, Goa and Mizoram
Posted Date : 16-Dec-2024 , 11:35:17 am | Posted By CASANSAAR
Dec 15th, 2024
Dear Taxpayers,
This is to inform taxpayers about recent developments concerning the application process for GST registration. It is advised to keep the following key points in mind during the registration process.
1. Rule 8 of the CGST Rules, 2017 has been amended to provide...
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Compensation cess: GoM may seek more time to Submit Report
Posted Date : 14-Dec-2024 , 04:15:45 pm | Posted By CASANSAAR
Compensation cess: GoM may seek more time to Submit Report
The group of ministers (GoM) on compensation cess will likely approach the GST Council, seeking an extension beyond the December 31 deadline to firm up its report, a person aware of the matter said
The 10-member GoM under Uni...
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Punjab GST dept uncovers bogus billing scam involving fraudulent transactions worth Rs 163 Cr
Posted Date : 14-Dec-2024 , 10:54:46 am | Posted By CASANSAAR
The Punjab GST Department has unearthed a bogus billing scam in Ludhiana, involving fraudulent transactions worth Rs 163 crore over the past two years.
Announcing this here on Friday, Finance Minister Harpal Cheema said the investigation revealed that M/s Monga Brothers (Unit-II), Buddewal Road, ...
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GSTN Advisory on difference in value of Table 8A and 8C of Annual Returns FY 23-24
Posted Date : 10-Dec-2024 , 12:20:46 am | Posted By CASANSAAR
As per the Notification No 12/2024 Central Tax dated 10th July 2024 read with Notification No.20/2024-Central Tax Dated 8th October 2024, for FY 2023-24 onwards, the total credit available for inwards supplies shall be auto-populated in the table 8A of Form GSTR 9 from GSTR-2B of the FY 23-24. Furth...
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GST Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration
Posted Date : 09-Dec-2024 , 08:29:33 am | Posted By CASANSAAR
Dec 8th, 2024
Dear Taxpayers,
This is to inform taxpayers about recent developments concerning the application process for GST registration. It is advised to keep the following key points in mind during the registration process.
1.Rule 8 of the CGST Rules, 2017 has been amended to provide t...
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Mandatory Sequential Filing of GSTR-7 Returns as per Notification No. 17/2024
Posted Date : 05-Dec-2024 , 11:01:28 am | Posted By CASANSAAR
Advisory on mandatory Sequential Filing of GSTR-7 Returns as per Notification No. 17/2024
Dec 4th, 2024
Multiple tickets have been received regarding sequential filing of return in Form GSTR-7. Taxpayers are referencing FAQs for the same, wherein “it is not mandatory” is mentioned....
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GSTN Advisory on mandatory Sequential Filing of GSTR-7 Returns
Posted Date : 04-Dec-2024 , 08:48:56 pm | Posted By CASANSAAR
Multiple tickets have been received regarding sequential filing of return in Form GSTR-7. Taxpayers are referencing FAQs for the same, wherein “it is not mandatory” is mentioned.
To clarify, It is to inform that following changes have been introduced in the return filing process for...
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GoM proposes hike in GST on aerated drinks, cigarettes & tobacco to 35%
Posted Date : 03-Dec-2024 , 08:40:39 am | Posted By CASANSAAR
A step that would mark the first major restructuring of tax rates under the Goods and Services Tax (GST) seven years after its rollout, a special rate of 35 per cent could be carved out for demerit (sin) goods such as aerated beverages, cigarettes, tobacco and related products.
At a meeting on Mo...
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Gross and Net GST revenue collections for the month of Nov, 2024
Posted Date : 02-Dec-2024 , 10:51:01 am | Posted By CASANSAAR
Gross and Net GST revenue collections for the month of Nov, 2024
Dec 1st, 2024
Please click on the link below to view the gross and net GST revenue collections for the month of November, 2024.
(https://tutorial.gst.gov.in/downloads/news/approved_monthly_gst_data_for_publishing_nov_2024.pdf&...
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GST Advisory - E-Invoice Glossary and Steps
Posted Date : 29-Nov-2024 , 07:47:33 am | Posted By CASANSAAR
Advisory: E-Invoice Glossary and Steps
Nov 29th, 2024
Dear Taxpayers,
GSTN has prepared an informative resource in the form of an e-invoice glossary and a step-by-step guide for your reference.
You can access and download the PDF document by clicking on the link below:
1. E-Invoice Gl...
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GSTN Advisory for Authorised e-Invoice Verification Apps
Posted Date : 28-Nov-2024 , 08:00:04 am | Posted By CASANSAAR
Dear Taxpayers,
1.GSTN has prepared a consolidated document on authorized B2B e-Invoice verification apps available for download. The said document would serve as a reference to ensure that taxpayers have the most up-to-date information regarding approved B2B e-Invoice verification apps.
2.Tax...
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GST Advisory on IMS on Supplier View
Posted Date : 13-Nov-2024 , 12:46:31 pm | Posted By CASANSAAR
Advisory on IMS on Supplier View
Nov 13th, 2024
1. Invoice Management System (IMS) has been made available on the GST Portal from 14th October, 2024 wherein the recipient taxpayer can accept, reject or keep the invoices pending which are saved/filed by their suppliers in their respe...
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GST Advisory regarding IMS during initial phase of its implementation
Posted Date : 12-Nov-2024 , 07:38:54 pm | Posted By CASANSAAR
Advisory regarding IMS during initial phase of its implementation
Nov 12th, 2024
Invoice Management System (IMS) is an optional facility introduced from October 2024 on GST Portal, on which the invoices/records saved/furnished by the supplier in GSTR-1/1A/IFF, can be accepted, rejected or kept...
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GST ADVISORY FOR WAIVER SCHEME UNDER SECTION 128A
Posted Date : 08-Nov-2024 , 07:04:28 pm | Posted By CASANSAAR
ADVISORY FOR WAIVER SCHEME UNDER SECTION 128A
Nov 8th, 2024
For reducing the tax disputes and to provide a big relief to the taxpayers, GST Council in its 53rd meeting held on 22nd June, 2024 had recommended for waiver of interest and penalties in the demand notices or orders issued under Sectio...
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GST Advisory for Form GST DRC-03A
Posted Date : 06-Nov-2024 , 06:32:17 pm | Posted By CASANSAAR
Advisory for Form GST DRC-03A
Nov 5th, 2024
1. It has been observed that some taxpayers have paid the demanded amount vide DRC 07/DRC 08/MOV 09/MOV 11/APL 04 through DRC-03 instead of using payment facility ‘Payment towards demand’ available on GST portal. This led to a situation whe...
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Time Limit for Reporting e-Invoice on the IRP Portal
Posted Date : 05-Nov-2024 , 09:22:11 pm | Posted By CASANSAAR
Advisory: Time Limit for Reporting e-Invoice on the IRP Portal – Lowering of Threshold to AATO 10 Crores and Above
Nov 5th, 2024
Dear Taxpayers,
1. With reference to the earlier advisory dated 13th September 2023 (https://einvoice.gst.gov.in/einvoice/newsandupdates/read-602), where ...
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Tax Authorities uncover massive GST Fraud worth Rs 25,000 Cr
Posted Date : 05-Nov-2024 , 09:21:39 pm | Posted By CASANSAAR
Tax officers have detected about 18,000 fake companies registered under GST which have been involved in tax evasion of about Rs 25,000 crore, an official said.
In a sweeping nationwide investigation, Indian tax enforcement officials have identified approximately 18,000 fictitious companies that o...
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GST records second highest collection at Rs. 1.87 lakh Cr in October 2024
Posted Date : 02-Nov-2024 , 08:52:16 am | Posted By CASANSAAR
Gross Goods and Services Tax (GST) collection in October rose 9 percent to over 1.87 lakh crore, the second-highest ever, mainly due to rise in domestic sales and improved compliance.
The Central GST collection stood at 33,821 crore rupees, State GST at 41,864 crore rupees, Integrated IGST ...
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Barring of GST Return on expiry of three years - GSTN
Posted Date : 29-Oct-2024 , 01:06:46 pm | Posted By CASANSAAR
Barring of GST Return on expiry of three years
Oct 29th, 2024
As per the Finance Act,2023 (8 of 2023), dt. 31-03-2023, implemented w.e.f 01-10-2023 vide Notification No. 28/2023 – Central Tax dated 31th July, 2023, the taxpayers shall not be allowed file their GST returns after the...
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Fake Company in Auto Driver
Posted Date : 26-Oct-2024 , 11:34:42 am | Posted By CASANSAAR
Probing into a fake Pune based company registered in the name of an auto rickshaw driver, officials of the Directorate of GST Intelligence (DGGI) have unearthed a major fake GST firm scam to the tune of Rs 5,000 crores to Rs 8,000 crores.
Rushi Prakash (39), an officer at DGGI, Pune Zonal Unit, l...
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GST Advisory - Reg 07
Posted Date : 22-Oct-2024 , 07:00:15 pm | Posted By CASANSAAR
Advisory - Reg 07
Oct 22nd, 2024
Dear Taxpayer,
GSTN has introduced an update to facilitate the registration compliance for buyers of metal scrap through form GST REG-07. This update follows the new GST provisions for metal scrap buyers as outlined in the advisory issued on October 13.
Tax...
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Validation of bank account details while adding bank account as Non Core amendment
Posted Date : 22-Oct-2024 , 06:58:51 pm | Posted By CASANSAAR
Attention: Validation of bank account details while adding bank account as Non Core amendment
Oct 22nd, 2024
Dear Taxpayer,
GSTN has implemented a validation process for cases where a taxpayer attempts a non-core amendment to update bank account details. Taxpayers are requested to follow the ...
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Attention
Posted Date : 18-Oct-2024 , 07:33:19 pm | Posted By CASANSAAR
Attention – Hard - Locking of auto-populated liability in GSTR-3B
Oct 17th, 2024
1. In order to assist taxpayers in filing their returns and minimizing human errors, GSTN has continuously improving the GST return filing process and in this endeavor the GST Portal now provides a ...
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GST Advisory on IMS - GSTN
Posted Date : 15-Oct-2024 , 05:58:06 am | Posted By CASANSAAR
Attention - Advisory on IMS
Oct 14th, 2024
Invoice Management System (IMS) is made available to taxpayers from Today, 14th Oct, 2024. The new system shall facilitate taxpayers in matching their records/invoices vis a vis issued by their suppliers for availing the correct Input Tax Credit (IT...
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GSTN Important advisory for GSTR-9 / 9C
Posted Date : 15-Oct-2024 , 05:57:42 am | Posted By CASANSAAR
Important advisory for GSTR-9/9C
Oct 15th, 2024
Starting FY 2023-24, GST system will auto-populate eligible ITC for domestic supplies (excluding reverse charge and imports ITC) from table 3(I) of GSTR-2B to table 8A of GSTR-9. These changes in GSTR-9 and 9C for the FY 2023-24 will be availab...
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New GST Provision for Metal Scrap Transactions - GSTN Advisory
Posted Date : 14-Oct-2024 , 06:45:19 am | Posted By CASANSAAR
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 the businesses dealing with Metal Scrap.
The GST portal will soon be updated to enable compliance of registration through FORM GST REG-07 by thes...
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No GST on foreign airlines for service imports from offshore branches - CBIC
Posted Date : 10-Oct-2024 , 09:16:28 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) has notified that foreign airline companies in India would be exempt from paying GST on services imported from their offshore branches. The circular follows a recommendation made by GST Council on September 9.
Experts say this would grant rel...
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