Summary of GST Advisory on Lowering Threshold of AATO to 10 Crore and above to report e-invoice on IRP Portal. The Government has issued GST Advisory on Lowering Threshold of AATO to 10 Crore and above to report e-invoice on IRP Portal on 05-11-2024. 1. With reference to the earlier advisory dated 13th September 2023 … Read more
GST Collection October 2024 is 1,87,346 Crore. Here the GST revenue Collection 2024 is compared with the same month of last year. That means, it is compared with GST Collection October 2023. GST Revenue Collection Amount ₹ Gross GST Revenue Collection October 2024 1,87,346 Crore Gross GST Revenue Collection October 2023 1,72,003 Crore GST Collection … Read more
Summary of the GST Advisory on Biometric-based Aadhaar authentication, Physical verification for registration Applicants of Ladakh GSTN has issued advisory on Biometric-based Aadhaar authentication, Physical verification for registration in Applicants of Ladakh.The new facility has been provided for booking an appointment to visit a GST Suvidha Kendra (GSK) for Biometric-based aadhaar authentication and physical verification … Read more
Summary of the Deadline for filing GST Returns under Finance Act 2023. As per the Finance Act 2023 (8 of 2023), date 31-03-2023, implemented w.e.f 01-10-2023 vide notification no 28/2023- Central tax dated 31-07-2023 new rule for filing of return are applicable to those taxpayers who have missed filing their GST returns.Once 3 yeras have … Read more
Summary of GST Registration Compliance for Metal Scrap Dealers GST Advisory has been issued for GST Registration Compliance for Metal Scrap Dealers through Form GST REG-07, This Advisory is regarding the New GST provision for Metal Scrap Transactions issued on 13-10-2024. The GST portal has been updated to facilitate registration compliance for buyers of metal … Read more
Summary of New Verification Process for Updating Bank Account Details on GST Portal GSTN has implemented a new validation process for updating Bank Account details on the GST Portal, where taxpayers want to change or add bank account details through Non-Core fields, they must follow specific steps provided by GSTN. It is important for taxpayers … Read more
Summary of Clarification on Section 128A of CGST Act,2017 GST Circular has been issued for Clarification on Section 128A of CGST Act,2017. Section 128A allows the taxpayer to get waiver of Interest, penalty or both for certain tax demands related to section 73. This waiver applies to FY 2017-18, 2018-19 and 2019-20 only if certain … Read more
Summary of GST Advisory on Additional FAQS on Invoice Management System Government has issued GST Advisory on Additional FAQS on Invoice Management System on 17-10-2024. Invoice Management System (IMS) is now available to taxpayers. This new system shall facilitate taxpayers in matching their records/invoices vis a vis issued by their suppliers for availing the correct … Read more
Summary of GST Advisory on Providing Pre-filled GSTR-3B from January 2025 The Government has been issued GST Advisory on Providing Pre-filled GSTR-3B from January 2025. To make return filling easier and reduce mistakes, the GST portal now provides a Pre-filled GSTR-3B from January 2025. The auto population woks like Tax liability is filled in automatically … Read more
Summary of Implementation of Provision of section 16(5) and 16(6) of CGST Act through Circular No 237/31/2024 Government has provide clarification on Implementation of Provision of section 16(5) and 16(6) of CGST Act through Circular No 237/31/2024. Key Points of the Circular No 237/31/2024 1. Section 16(4) of CGST Act is reproduced in this circular. … Read more