Ministry of Home Affairs (MHA) has announced an extension of financial support, providing a 50% subsidy on Goods and Services Tax (GST) for purchases made from Kendriya Police Kalyan Bhandar.
50% GST Subsidy for CAPF Members at Kendriya Police Kalyan Bhandar
Ministry of Home Affairs (MHA) has announced an extension of financial support, providing a 50% subsidy on Goods and Services Tax (GST) for purchases made from Kendriya Police Kalyan Bhandar.
Effective from April 1, 2024, this initiative aims to support the welfare of CAPF members and their families.
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Date : 13/03/2024
GSTN Advisory on GSTR-1/IFF: Introduction of New 14A and 15A tables
This notification, No. 26/2022 Cle 14A and Table 15A, in the GSTR-1 form.
These tables are designed to capture the details of amendments to supplies made through e-commerce operators (ECO). E-commerce operators are required to collect tax under section 52 or pay tax under section 9(5) of the CGST Act, 2017.
These new tables are now live on the GST common portal and will be available in the GSTR-1/IFF from the tax period of February 2024 onwards.
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Date : 12/03/2024
GSTN Advisory on Integration of E-Waybill system with New IRP Portals
The Goods and Services Tax Network (GSTN) has successfully integrated E-Waybill services with four additional Invoice Registration Portals (IRPs) through the National Informatics Centre (NIC). This enhancement expands the existing services available on the NIC-IRP portal, ensuring that E-Waybill services, E-Invoicing, are now accessible across all six IRPs. Below are the websites for all six IRP portals:
1. https://einvoice1.gst.gov.ine1.gst.gov.ine1.gst.gov.ine1.gst.gov.ine1.gst.gov.ine1.gst.gov.ine1.gst.gov.ine1.gst.gov.in
2. https://einvoice2.gst.gov.in
3. https://einvoice3.gst.gov.in
4. https://einvoice4.gst.gov.in
5. https://einvoice5.gst.gov.in
6. https://einvoice6.gst.gov.in
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Date : 08/03/2024
Guidelines for Rectification of Demand Orders under DGST Act, 2017
The rectification powers are provided in Section 161 of the GST Act for rectification of errors on the face of record
The power of rectification is confined to only errors on the face of record and not for submission of further orders / details including the submissions not considered while passing the order.
For initiating motu rectification the reasons to be recorded in writing by the proper Officer.
In case the Registered person wants to invoke rectification, he has to submit the application in the prescribed format within 3 months from the date of passing of the Original Order and the rectification order in Form DRC 08 should be passed within 6 months from the date of original order
The rectification may not be done if an appeal has been preferred before Appellate authority by the Registered person
The following type of scenarios can be considered for invoking rectification.
a) The amount paid and intimated to Authority vide DRC 03 not considered by the Authority while confirming the demand in the order
b) Arithmetical error like calculation error or error in tax type i.e IGST, CGST or DGST
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Date : 01/03/2024
Taxpayer Delays in Registration Post Successful Aadhar Authentication: CGST Rule 8 & 9 Compliance
If Aadhaar authentication is completed (Rule 8(4A)), but further verification is needed based on risk profile (Rule 9(aa)), processing will occur within 30 days of submission.
Online tracking module updates will reflect processing status changes for registration applications.
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Date : 28/02/2024
CBIC - CGST Notification of Public Tech Platform for Frictionless Credit Sharing - 22/02/2024
This notification notifies the "Public Tech Platform for Frictionless Credit" (an open architecture information technology platform, conceptualised by the Reserve Bank of India) as the designated system for sharing information through the common portal based on consent, to facilitate credit-related processes or transactions under sub-section (2) of Section 158A of the Central Goods and Services Tax Act, 2017
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Date : 23/02/2024
GSTN Advisory on Enhanced E-Invoicing Initiatives and Portal Launch
New Features of the revamped E-Invoice Master Information Portal are as follows:
New features include PAN-based search, automatic e-invoice exemption list, global search bar, enhanced local search, revamped advisory and FAQ section, daily IRN count statistics, dedicated mobile app section, improved accessibility compliance, and updated website policy.
Introduction of internal e-invoice comprehensive health dashboard for better monitoring.
Accessibility of e-invoicing reporting for eligible taxpayers via online, APIs, and mobile app, free of cost.
Launch of e-invoice QR code verifier app for verification and search IRN functionality.
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Date : 21/02/2024
Press release on Beware of Fake GST Summons: CBIC Caution
Taxpayers can verify the authenticity of any communication, including summons, from the Central Board of Indirect Taxes and Customs (CBIC) through the 'VERIFY CBIC-DIN' window on the CBIC's website
The CBIC has warned against fake GST summons and urged taxpayers to verify any communication received from GST authorities
Taxpayers can also use the DIN Utility Search on the Directorate of Data Management (DDM), CBIC's online portal, to verify the authenticity of communications.
Individuals receiving suspicious or potentially fake summons from DGGI / CBIC formations are encouraged to report them to the respective jurisdictional DGGI / CBIC office for verification and necessary action against the perpetrators.
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Date : 10/02/2024
Budget 2024 Highlights
Interim Budget 2024 Highlights with regard to Taxation
The FM proposes no changes in the existing tax rates for direct and indirect taxes, including import duty.
The government will withdraw old disputed direct tax demands of up to INR 25,000 related to F.Y. 2009-2010. In addition, outstanding direct tax demands of up to INR 10,000 will be withdrawn pertaining to F.Y. 2010-2011 to F.Y. 2014-2015.
The Tax Breaks for start-ups, sovereign wealth investors, and pension funds will be extended until March 31, 2025.
However there are some changes proposed in the Finance Bill 2024 in the GST Act with regard Input distributor and penalty for non-registration of machines used in the manufacture of specified goods as noted hereunder.
Clause 12 seeks to amend in Section 2(61) and Section 20 of the CGST Act to make distribution of credit by ISD mandatory where an office of a supplier receives invoices (including where GST is payable under Reverse Charge) for and on behalf of its distinct person.
Clause 13 seeks to insert Section 122A in the CGST Act to prescribe a penalty for running unregistered machines used in manufacture of specified goods i.e., pan masala, tobacco and related tobacco products as per special procedure notified under Section 148
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Date : 01/02/2024
CBIC - CGST Notification Issued on 30/01/2024
The amendment focuses on Table II of the 02/2017 Central Tax notification, in which changes are being introduced to serial number 83, column (3), clause (ii). The modification involves the insertion of the figure and letter "411069," after the existing "411060."
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Date : 30/01/2024
Mandatory Bank Account Submission Advisory under CGST Rules, 2017 (Rule 10A)
Registered taxpayers must submit their bank account details within 30 days of registration grant or before the due date of filing GSTR-1/IFF, whichever comes earlier.
Taxpayer registration suspension after 30 days with intimation in FORM REG-31
If the taxpayer updates bank account details in response to FORM REG-31, suspension is automatically revoked.
If bank account details aren't updated after 30 days of FORM REG-31 issuance, registration may be considered for cancellation by the Officer.
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Date : 23/01/2024
GSTN Advisory on introduction of new Tables 14 & 15 in GSTR
Notification No. 26/2022 Central Tax, issued on December 26, 2022, introduced two new tables, Table 14 and Table 15, in the GSTR-1 form. These tables are designed to capture detailed information about supplies conducted through e-commerce operators (ECO).
These newly added tables are now active on the GST common portal.
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Date : 15/01/2024
CBIC - CGST Notification Issued on 05/01/2024
|
S.No. |
Notification No. |
Date |
Subject |
|
1. |
05/01/2024 |
Extension of due date for filing of return in FORM GSTR-3B for the month of November, 2023 for the persons registered in certain districts of Tamil Nadu. |
|
|
2. |
05/01/2024 |
Extension of due date for filing FORM GSTR-9 and FORM GSTR-9C for the Financial Year 2022-23 for the persons registered in certain districts of Tamil Nadu. | |
|
3. |
05/01/2024 |
Seeks to rescind Notification No. 30/2023-CT dated 31 st July, 2023 | |
|
4. |
05/01/2024 |
Seeks to notify special procedure to be followed by a registered person engaged in manufacturing of certain goods. |
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Date : 05/01/2024
CGST Notification - Amendments to Schedule I - 2.5% Effective from January 4, 2024
The amendments specified in the notification relate to Schedule I 2.5%. The changes involve replacing certain entries against S. No. 165 and 165A in column (2) with new entries: 2711 12 00, 2711 13 00, 2711 19 10.
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Date : 04/01/2024
IGST Notification - Amendments to Schedule I - 2.5% Effective from January 4, 2024
The amendments specified in the notification relate to Schedule I 2.5%. The changes involve replacing certain entries against S. No. 165 and 165A in column (2) with new entries: 2711 12 00, 2711 13 00, 2711 19 10.
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Date : 04/01/2024