GST Update: Reverse Charge on Commercial Property Rent from Unregistered Persons October 9, 2024October 9, 2024by Pooja Gupta Rate this post In a significant move to tighten revenue leakage and enhance compliance within the Goods and Services Tax (GST) framework, the Central Board of Indirect Taxes and Customs (CBIC) has [...]

New GST Exemption on Skill Development Programs Effective from October 2024 October 9, 2024by Pooja Gupta Rate this post In a move to promote and streamline skill development initiatives across the country, the Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 08/2024 – Central Tax (Rate) on [...]

GST Exemption on Affiliation Services for Government Schools: Notification No. 08/2024 October 9, 2024by Pooja Gupta Rate this post In a significant move to support government educational institutions and reduce the tax burden on affiliation services, the Central Board of Indirect Taxes and Customs (CBIC), through Notification No. 08/2024 – [...]

GST Exemption on Research and Development Services and Electricity Distribution Charges: Notification No. 08/2024 October 9, 2024by Pooja Gupta Rate this post In its ongoing efforts to simplify the Goods and Services Tax (GST) framework and reduce tax burdens in key sectors, the Central Board of Indirect Taxes and Customs [...]

CBIC Introduces Reduced GST Rate for Helicopter Passenger Transport Services October 9, 2024by Pooja Gupta Rate this post In line with the decisions made during the 54th GST Council Meeting on September 9, 2024, the Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 07/2024 – Central Tax [...]

GST Late Fee Waiver for TDS Filers (GSTR-7): Notification No. 23/2024 October 9, 2024by Pooja Gupta Rate this post Date: October 8, 2024Effective From: November 1, 2024 In a major relief to registered persons required to deduct tax at source (TDS) under section 51 of the Central Goods and Services [...]

Rectification of ITC Orders: Detailed Procedure for Taxpayers Under GST Section 16 Amendments October 9, 2024by Pooja Gupta Rate this post The Goods and Services Tax (GST) Council, in its 54th meeting on September 9, 2024, recommended that Sections 118 and 150 of the Finance (No. 2) Act, 2024, which [...]

New Procedure for Waiver of Interest and Penalty under GST October 9, 2024by Pooja Gupta Rate this post The introduction of Rule 164 in the CGST Rules, 2017, marks a significant development for taxpayers dealing with old tax liabilities. In its 54th meeting on September 9, 2024, the GST Council [...]

Notification No. 06/2024-Central Tax (Rate): RCM on Metal Scrap October 9, 2024by Pooja Gupta Rate this post Notification No. 06/2024-Central Tax (Rate): Amendments to GST on Metal Scrap Date of Notification: October 8, 2024Notification No.: 06/2024-Central Tax (Rate)Effective Date: October 10, 2024Issued by: Ministry of Finance (Department of Revenue), Government [...]

Notification No. 05/2024-Central Tax (Rate): Amendments in GST Rates for Specific Goods October 9, 2024by Pooja Gupta Rate this post Notification No. 05/2024-Central Tax (Rate): Amendments in GST Rates for Specific Goods Date of Notification: October 8, 2024Notification No.: 05/2024-Central Tax (Rate)Effective Date: October 10, 2024Issued by: Ministry of Finance [...]