Summary of the GST Instruction on Fake Registration – Guidelines for second special all india drive against fake registration: On Aug 12, 2024 – The Government issued GST Instruction on Fake Registration comprising Guidelines for second special all-India drive against fake registration. The Government issued original nationwide guidelines on 04-05-2023 to identify and verify fake … Read more
Summary of GST Notification No 16/2024 – CT dated 06-08-2024: This Notification GST No 16/2024-CT dated 06-08-2024 provides updates related to Input service distributors and the Penalty under section 122A for non-registration of Machines under the special procedure for tobacco manufacturers. The Changes regarding input service distributors are outlined in sections 11 and 12 of … Read more
Summary of Rate of TCS under GST for E-commerce operator reduced to 0.5%: With effect from 10-07-2024 ,the GST Council has decided to reduced rate of TCS under GST from 1% (0.5% CGST+0.5% SGST/UTGST, or 1% IGST) to 0.5% (0.25% CGST & 0.25% SGST/UTGST, or 0.5% IGST) as per Notification No.15/2024 dated 10-07-2024.Additionally,some taxpayers have … Read more
Summary of the GST Advisory on aadhaar authentication and document verification for registration in Jammu kashmir and west bengal. Government has issued GST Advisory on aadhaar authentiacation and document verification for GST Registation applicants of Jammu and Kashmir and west bengal on 02-08-2024. A new functionality for GST Registration process regarding biometric based aadhar authentication … Read more
Introduction of GST Budget 2024 This article contains all the recent amendments proposed in Finance Bill 2024.Clauses 110 to 153 of this Finance Bill represents gst changes in Budget 2024. All the clauses will come into force on enactment of finance bill in parliament. This article has been prepared topic wise with our detailed analysis … Read more
Government has issued New GST Advisory on GST Refund of tax paid on Inward supply of goods by Canteen Store Department (FORM GST RFD 10A). In reference to Circular No. 227/21/2024-GST issued by GST policy wing, CBIC on 11th July, 2024 for online processing of refund applications filed by Canteen Stores Department (CSD), GSTN has developed an … Read more
GSTN wish to inform that NIC is releasing the integrated services from e-invoice-1 and e-invoice-2 portals on 18th July 2024 on sandbox portals and 1st Aug 2024 on the production portals. These portals run in parallel and now allow for seamlessly inter-operations. The highlights of the portal are as follows: (https://einvoice1.gst.gov.in and https://einvoice2.gst.gov.in) i. Both the portals (NIC-IRP 1 & … Read more
Summary of Clarification regarding applicability of GST on certain services through Circular No 228-22-2024 Circular No 228/22/2024 provides Clarification regarding applicability of GST on certain services. It is based on the recommendations of 53rd GST Council Meeting which was held on 22-06-2024. This circular mainly consist of following: Keypoints of the Circular No 228-22-2024 1. … Read more
The Government has issued New GST Advisory on Refund of additional IGST paid on account of upward revision in prices of goods subsequent to exports dated 14-07-2024.GST Council has approved that application of refund of additional IGST paid on account of upward revision in prices of goods subsequent to exports may also be processed by … Read more
Summary of the IGST Refund Process For Price Revisions After Export Goverment has annouced IGST Refund Process For Price Revisions After Export through the Circular No 226/20/2024.Trade and industry representative have asked the government to create system for refunding the extra IGST paid when the price of exported goods increases after they have already been exported. … Read more