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GST Daily Updates

Taxability and valuation of corporate guarantee Services between related persons – Circular No 225/19/2024

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corporate guarantee Services

Summary of the Taxability and valuation of corporate guarantee Services between related persons of the Circular No 225/19/2024. The Government has issued Clarification regarding Taxability and valuation of corporate guarantee Services between related persons through Circular No 225/19/2024 dated 11-07-2024.On the recommendation of GST Council a new rule 28(2) to be added on 26-10-2023 through … Read more

Increase in Document Upload Limits for registrations

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registration

Government has issued GST Advisory for Registration. GSTN is pleased to inform that changes have been made in size of document upload in Principal Place of Business and Additional Place of Business for New Registration and Amendment catering to the grievances received in the matter from trade. Taxpayer can now upload following documents up to maximum … Read more

Amendment in TCS Rate for E-Commerce Operator – Notification No 15/2024

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TCS Rate for E-Commerce Operator

Summary of Amendment in TCS Rate for E-Commerce Operator On Jul 10,2024 – Notification No.15/2024-Central Tax  has issued for amendment in TCS Rate for E-Commerce Operator. These will effective from 10-07-2024. Section 52(1) of the CGST Act,2017 states that every electronic commerce operator who is not acting as an agent, must collect a tax @ … Read more

Notification No 13/2024- Cancellation of Notification No 27/2022

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Notification No 13/2024

Summary of the Notification No 13/2024  The Government has issued Notification No 13/2024 to cancel the Notification No 27/2022-Central Tax issued on 26-12-2022 related to applicability of Biometric Aadhar authentication process based on the data analysis and risk parameters. This cancellation of the Notification No 27/2022 will be effective from 10-07-2024. Sub rule 4A of … Read more

Fixing Monetary Limits for Filing Appeals and Reduction of Government Litigation

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Monetary Limits for Filing Appeals

Summary of Fixing Monetary Limits for Filing Appeals and Reduction of Government Litigation The Government has Fixing Monetary Limits for Filing Appeals and Reduction of Government Litigation by issuing Circular No 207/1/2024 dated 26-06-2024. This Policy mandates that, where the amount of money involved is below a certain limit the appeal should not be filed. This … Read more

New Enhancements to Address-Related Fields in GST Registration Functionalities

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gst registration

The Government has issued GST Advisory related to New Enhancements to Address-Related Fields in GST Registration Functionalities on 04-07-2024. The Following enhancements have been made to address-related fields in the registration functionalities: New Registration, Amendment Application (Core & Non-Core), and Geocoding Business Addresses. These enhancements are based on the analysis of tickets and user feedback. … Read more

New GST Updates June-2024|New GST Updates on Recent Circulars issued in June-2024

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new gst updates june-2024

This articles covers New GST Updates on Recent Circulars issued in June-2024. It contains all the Circulars issued in June-2024 which covers in New GST Updates June-2024. All these amendments have been presented hear topic wise and reference of relevant latest gst circulars have been given at bottom of each topic. As well as, I … Read more

Time of Supply for Spectrum usage services

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Spectrum usage services

Summary of Time of Supply for Spectrum usage services  GST Circular No 222/16/2024 has been issued for Time of Supply for Spectrum usage services on 26-06-2024. Government has received query for when telecom operators should pay GST on Spectrum allocation. it is specially for when operators choose to pay for the spectrum in installments over time … Read more

ITC on Ducts and Manholes for Optical Fiber Cables Network

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ITC on Ducts and Manholes

Summary of ITC on Ducts and Manholes for Optical Fiber Cables Network Clarification has been issued on ITC on Ducts and Manholes for Optical Fiber Cables Network as some of the GST authorities denying ITC on Ducts and Manholes used in Optical Fiber Network based on the arguments that these items are classified as Immovable Property … Read more

ITC on Vehicle repair expense to insurance company in Claim reimbursement

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ITC on Vehicle repair expense

Summary of ITC on Vehicle repair expense to insurance company in Claim reimbursement  The Insurance Company insures the cost of repairs/damages of motor vehicles and settles the claims in two ways. (i) Cashless Mode:- The Insurance company pay the garage directly for the repair work. The Garage issues the invoice in the insurance Company’s name … Read more