GST Amnesty Scheme 2024: Waiver of Interest and Penalty – 128A October 12, 2024October 11, 2024by Pooja Gupta Rate this post On October 8, 2024, the Government of India issued two key notifications No.21/2024 & No.20/2024 introducing an Amnesty Scheme for GST taxpayers, based on Section 128A of the Central [...]

TDS under GST: Updated with New Provisions for Metal Scrap and GSTR-7 October 13, 2024October 11, 2024by Pooja Gupta Rate this post Tax Deducted at Source (TDS) under the Goods and Services Tax (GST) is a crucial mechanism for timely tax collection and ensuring tax compliance in supply chains. As [...]

GST Portal Update: Amendment to Rule 61(5) – Adjustment of Negative Liability in GSTR-3B October 12, 2024by Pooja Gupta Rate this post Breaking News: The GST Portal has announced the implementation of an important amendment to Rule 61(5), which allows for the adjustment of negative liability from previous tax periods [...]

GST Exemption of ENA for Alcoholic Beverages Industry October 12, 2024by Pooja Gupta Rate this post The taxability of Extra Neutral Alcohol (ENA), a vital raw material in the alcoholic beverages industry, has long been a subject of contention between the Central Government and the States. While alcoholic liquor for [...]

CBIC Issues Clarification on GST Regularization for Past Periods: No Refund for Higher Rate Payments October 13, 2024by Pooja Gupta Rate this post The CBIC has issued Circular No. 236/30/2024-GST, dated October 11, 2024, providing essential clarifications regarding the scope of the term “as is” or “as is, where is [...]

CBIC Circular No. 234/28/2024-GST, Clarifications on GST Applicability for Various Services October 13, 2024by Pooja Gupta Rate this post The CBIC issued Circular No. 234/28/2024-GST dated October 11, 2024, which provides essential clarifications regarding the applicability of GST on several services. These clarifications are based on the recommendations made during [...]

Circular No. 235/29/2024-GST: CBIC Clarifies GST Applicability for Key Goods Based on GST Council’s 54th Meeting Recommendations October 14, 2024October 13, 2024by Pooja Gupta Rate this post The Central Board of Indirect Taxes and Customs (CBIC), through Circular No. 235/29/2024-GST dated October 11, 2024, issued vital clarifications on the Goods [...]

Advisory for Taxpayers: New TDS & GST Provisions for Metal Scrap Transactions and do this on GST Portal now October 13, 2024by Pooja Gupta Rate this post Date: October 13th, 2024 The government, through Notification No. 25/2024-Central Tax, issued on October 9, 2024, has introduced an important mandate under Section [...]

New IMS System of GST is Live on GST portal to take actions on invoices – Accept, Reject and Pending October 15, 2024by Pooja Gupta Rate this post Attention – Advisory on Invoice Management System (IMS) Date: October 14th, 2024 The Invoice Management System (IMS) has been made available to [...]

GSTR-9 for FY 2023-24: New Offline Tool Launched with Updated ITC Reconciliation October 15, 2024by Pooja Gupta Rate this post After a long wait, taxpayers can now breathe a sigh of relief as the new GSTR-9 Offline Tool for filing GST Annual Returns for the financial year 2023-24 has finally [...]