Summary of Notification No 27/2024 Notification No 27/2024 has been issued for Authority of Additional and Joint Commissioners to decide DGGI Cases. The Additional Commissioner or Joint Commissioner of Central Tax has the authority to pass the orders or make decisions on cases where notices have been issued by officers of the Directorate General of … Read more
Summary of Extension of Due date of GSTR-3B of October-2024 The Government has issued Notification No 26/2024 for Extension of Due date of GSTR-3B of October-2024 in the state of Maharastra and Jharkhand. Type of Return Tax Period Due date Extended due date Whose principal place of business in the State of GSTR-3B October-2024 20-11-2024 … Read more
Summary of Introduction of RCM and GST TDS on Metal scrap supplies GST Notification No 24/2024 & 25/2024 of Central tax is related to Introduction of RCM and GST TDS on Metal scrap supplies. The Government has introduced RCM in case of supply of metal scrap by unregistered person to registered person with effect from 10-10-2024. … Read more
Summary of GST Notification No 20/2024 – Changes in CGST Rules,2017 GST Notification No 20/2024 – Changes in CGST Rules,2017 contains the following Keypoints: 1. The option to issue a consolidated invoice is no longer available 2. Timelimit provided to issue an invoice in case of RCM and purchase from URD 3. Mandatory Electronic Filing … Read more
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
Summary of Waiver of Interest and Penalties for Tax demands under section 128A of CGST Act. Government has issued Notification No 21/2024 -Central Tax to Waiver of Interest and Penalties for Tax demands under section 128A of CGST Act. On the recommendation of the 54th GST Council meeting, a specific date for payment of Tax Liability … 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 the Notification No 17/2024 Notification No 17/2024 specifies the applicability of the sections that are either newly inserted or amended as proposed in Finance (No.2) Act 2024. The Government has specified the dates on which the provisions of these sections,proposed in Finance (No.2) Act 2024, will come in to effect. Section of Finance (No. … Read more
Summary for Turnover limit to file GSTR-9 for the FY 2023-24- Notification No 14/2024 Government has issued Notification No 14/2024 to inform turnover limit to file GSTR-9 for the FY 2023-24. The GST Council has recommended that the business with an aggregate turnover of up to 2 Crore for the Financial year 2023-24 be exempted … Read more