Till today several GST frauds disclosed. The trend of India’s monthly goods and services tax revenue reaching Rs 1.5 lakh crore and becoming the “new normal” has been applauded by the North Block. The Central Board of Indirect Taxes and Customs’ Vivek Johri professed confidence in breaking beyond this barrier in the upcoming fiscal year, … Read more
This article covers all recommendations of 49th GST Council Meeting held on 18th February, 2023 at New Delhi. The GST Council has met 49 times since its constitution, and many important decisions were taken in this 49th GST Council meeting. Last GST council meeting held in new Delhi on 17th December,2022. This 49th GST Council … Read more
FM Says : No AG certificate has been received from Kerala in a year. The lack of authenticated certificates from the Accountant General (AG), according to Union Finance Minister Nirmala Sitharaman, is to blame for the delay in the payment of Goods and Services Tax (GST) compensation to several states The process for the AG’s … Read more
The proposal to raise the rate of GST compensation cess applicable to MUVs, at par with SUVs falling under the same criteria of car length, engine capacity, among others, is likely to be deferred at the upcoming GST Council meeting, scheduled to take place on February 18. This will provide auto manufacturers with a temporary … Read more
Wednesday, Finance Minister Nirmala Sitharaman warned that petroleum goods may soon be subject to GST. The comments were made only a few months after Petroleum and Natural Gas Minister Hardeep Singh Puri stated that the central government was prepared to include gasoline and diesel in the GST. It might be accomplished if there was an … Read more
According to Karnataka’s Chief Minister Basavaraj Bommai, the state collected a record-breaking GST revenue of January 2023 for Rs 6,085 crore. The Chief Minister also credited the changes, vigilance, and better tax compliance by taxpayers who made it possible in a series of tweets. “GST collections reached a record high of 6,085 crore this month. … Read more
As per new e invoice updates 2023, with reference to the circular No.184/16/2022 a new validation has been incorporated. For all B2B transactions, section of POS state code as “96”- ‘Other Country’ is enabled for HSN related to the services by way of transportation of goods, including by mail or courier. The list of items … Read more
Sitharaman stated in front of the House of Representatives that West Bengal has not filed its audited data since 2017 for GST Compensation. The West Bengal government on Friday night said the Centre owes it Rs 2,409.96 crore, responding to Union Finance Minister Nirmala Sitharaman’s statement that the state has not sent GST compensation cess claim with accountant general … Read more
News related to GST Compensation. The AG office closes out the books at the end of the financial year, so at first the pay is based on gross revenue, not net revenue The state government said it “does not agree” with Union finance minister Nirmala Sitharaman’s Lok Sabha statement about West Bengal and provided the … Read more
Those tax payers, who have submitted their TRAN Forms but have not filed it, are not able for GSTR-3B filling. GSTN Advisory issued for tax payers facing issue in filling GSTR-3B They are advised to raise a Grievance on the portal. According to Hon’ble Supreme Court’s directive filing of TRAN forms was made available for … Read more