HSN Reporting in GSTR-1 Table 12: Implementation Date Extended January 23, 2025by Pooja Gupta Rate this post In a significant update for taxpayers, the GST portal has issued a new advisory on the mandatory mentioning of HSN (Harmonized System of Nomenclature) codes in GSTR-1 and GSTR-1A. Initially announced on January [...]

Duplicate Entries in GSTR-2B Resolved, Cross-Check Your ITC Claims: GST Advisory on GSTR-2B and GSTR-3B January 23, 2025by Pooja Gupta Rate this post The GST portal has issued a crucial advisory addressing concerns regarding discrepancies in Input Tax Credit (ITC) reflected in GSTR-2B and GSTR-3B filings. This advisory aims to [...]

GST Update: Late Fee Waiver for GSTR-9C for FYs 2017-18 to 2022-23 January 24, 2025by Pooja Gupta Rate this post Waiver of Late Fee for Filing FORM GSTR-9C as per Notification No. 08/2025 The Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 08/2025 – Central Tax, dated [...]

Temporary Identification Number (TIN) Introduced Under GST: Notification No 07/2025 January 24, 2025January 24, 2025by Pooja Gupta Rate this post Key Amendments to the Central Goods and Services Tax (CGST) Rules, 2017 – Notification No. 07/2025 The Central Board of Indirect Taxes and Customs (CBIC) issuedNotification No. 07/2025 – Central [...]

CBIC removes 18% GST on rent from property owners not registered under GST January 24, 2025by Pooja Gupta Rate this post In a significant development for small taxpayers under the composition scheme, the Central Board of Indirect Taxes and Customs (CBIC) eliminated 18% GST on rent when they lease premises [...]

Life insurance companies challenge GST exemption for term policies January 24, 2025by Pooja Gupta Rate this post Life insurance companies are opposing a proposed Goods and Services Tax (GST) exemption on term insurance policies. They argue that losing input tax credits (ITCs) on their expenses would increase costs, ultimately raising [...]

Budget 2025: Halwa ceremony to be held today; know more about the customary ritual to mark lock-in of Budget documents January 24, 2025by Pooja Gupta Rate this post Budget 2025: The customary Halwa ceremony, which marks the final stage of the Union Budget preparation process, is scheduled to be held [...]

Budget 2025 income tax: Top tax reliefs FM Sitharaman should consider in Union Budget January 24, 2025by Pooja Gupta Rate this post Budget 2025 income tax expectations: While the Union Budget 2025 is anticipated to provide further impetus on simplifications of existing tax provisions, there are heightened expectations for economic [...]

Ensuring Business Continuity for e-Invoice and e-Waybill Systems: Advisory from GSTN January 25, 2025by Pooja Gupta Rate this post On January 24, 2025, GSTN issued an important advisory to taxpayers emphasizing the need to implement alternate mechanisms and redundancies for seamless operations of e-Invoice and e-Waybill systems. The advisory provides [...]

Mandatory EWB for Intrastate Gold Transport in Kerala Effective January 2025 : GST Advisory January 27, 2025by Pooja Gupta Rate this post Effective Date: January 20, 2025 The Goods and Services Tax Network (GSTN) has announced the implementation of a new feature in the E-Way Bill (EWB) system to facilitate [...]