Summary of Waiver and Reduction of Late Fees for GSTR-7 Filing Under Section 47 Government has issued Notification for Waiver and Reduction of Late Fees for GSTR-7 Filing Under Section 47. This notification is about waiving late fees for registered taxpayers who are required to deduct TDS under section 51 of the CGST Act,2017, and who failed to … Read more
Summary of Procedure for Rectification of Orders Related to Wrong Availment of ITC GST Notification No 22/2024 issued for Procedure for Rectification of Orders Related to Wrong Availment of ITC dated 08-10-2024. The Government has introduced a special procedure for registered taxpayers who received an order u/s 73,74,107 or 108 of the CGST Act,2017 related to wrongly claiming … Read more
Summary of Waiver of Interest and Penalties for Tax demands under section 128A of CGST Act. Government has issued Notification No 21/2024 -Central Tax to Waiver of Interest and Penalties for Tax demands under section 128A of CGST Act. On the recommendation of the 54th GST Council meeting, a specific date for payment of Tax Liability … Read more
Changes in GST Rate of services,Exemptions and RCM Services Notification No 07/2024, 08/2024 & 09/2024 related to Changes in GST Rate of services ,Exemptions and RCM Services effective from 10-10-2024. Changes in GST Rate of Services (applicable from 10-10-2024) Serial No Description of Service Old Rate New Rate Remarks 8(ivb) Transportation … Read more
Summary of Changes in GST Rate of Goods by Notification No 05/2024 & 06/2024 There is Changes in GST Rate of Goods by Notification No 05/2024 & 06/2024 issued by government on 08-10-2024. This changes is applicable from 10-10-2024. Lets understand it with following table: Serial No HSN Product description Old Rate New Rate 32C … Read more