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
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
Summary of the GST Liability on Salvage or wreckage in Motor Vehicle Insurance Claims The Circular No 215/9/2024 provides clarification regarding GST Liability on Salvage or wreckage in Motor Vehicle Insurance Claims. The Insurance companies provides general insurance for motor vehicles covers the cost of repairs or damages. These damages are generally of two categories. … Read more
Summary of Systemic improvement for Officer De-mapping on GST Portal GST Instruction No 04/2024 has been issued for Systemic improvement for Officer De-mapping on GST Portal. This Instruction states that when GST officer, who was supposed to be discharged from their duties was not promptly removed or de-mapped from GSTN portal. Hence the officer fraudently … Read more
Summary of GST Advisory on Proper Entry of RR No./Parcel Way Bill (PWB) Numbers in EWB system Post EWB-PMS Integration GST Advisory has been issued for Proper Entry of RR No./Parcel Way Bill (PWB) Numbers in EWB system Post EWB-PMS Integration dated 04-10-2024. It is related to the Parcel Management System (PMS) of Indian Railways … Read more
Summary of Introduction of GSTN e-Services App Government has introduced GSTN e-Services App to replace the e-Invoice QR Code Verifier App Shortly. The Advisory are as under: GSTN is pleased to inform the launch of the new GSTN e-Services app, which replaces the old e-Invoice QR Code Verifier App. This app offers the following features: Verify e-Invoices: Scan … Read more
Summary of Notification No 19/2024 Notification No 19/2024 states that, from 01-04-2025, the authority under section 171(2) will not accept any request for examination as to whether input tax credits availed by any registered person or the reduction in the tax rate have actually resulted in a commensurate reduction in the price of the goods … Read more
Summary of Notification No 18/2024 Notification No 18/2024 Provides that from 01-10-2024, the matters related to anti-profiteering will be examined and adjudicated by the Principal Bench of the GST Appellate Tribunal (GSTAT). Additionally, the government is given the power to notify other types of cases that will be heard exclusively by the Principal Bench of … Read more