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The Rajasthan GST Department in a recent development has issued a notification dated 8th February 2024 presenting the much expected Amnesty Scheme-2024. The same scheme has the objective of furnishing substantial advantages to dealers and individuals by offering rebates on taxes and facilitating the settlement of outstanding demands and disputed amounts under the Goods and […]
Following a series of GST demand notifications, the business sector is eager for the inclusion of an amnesty scheme in the upcoming interim budget. However, opinions among experts are divided on this matter. In the previous year, reports indicated that authorities responsible for goods and services tax (GST) issued notices totalling around Rs 1.45 lakh […]
The notice intimating the payment of the agreed-upon instalment sum of tax, which was due as the assessee failed to fulfil the Goods and Service Tax (GST) liability under the Amnesty Scheme, has been upheld by the Kerala High Court. The petitioner in this case is Farooque Construction, a partnership firm registered under the Central […]
The finance ministry introducing an amnesty scheme streamlines the filing of appeals against Goods and Services Tax (GST) demand orders. The scheme will be open until January 31, 2024, and it applies to entities that were unable to submit their appeals against orders issued by the tax officer on or before March 31, 2023, announced […]
One time amnesty scheme has been expected by the exporters in order to deal with the problems caused by a provision in the Goods and Services Tax (GST) rules that expects to safeguard government revenue from traders who demanded credit under Integrated GST (IGST) through what authorities have termed ‘irrelevant’ products. Sanjay Kumar Aggarwal, Chairman […]
The most awaited GSTR-9 and 9C amnesty scheme has been released by the CBIC. Also, they released the Central Tax Notification 07.2023 on 31st March 2023, to advise on two resolutions that advantage GST annual return filers. Note: 50th GST Council Meeting: In accordance with Section 62 of the CGST Act, 2017, the amnesty schemes […]
State Finance Minister Devendra Fadnavis has extended the Maha Vikas Aghadi (MVA) government’s amnesty scheme for the payment of tax, interest, penalty, and late fee arrears that existed before the Goods and Services Tax was put into effect. In his first budget speech, Fadnavis referred to the legislation as the Maharashtra Settlement of Arrears of […]
Under the Chairpersonship of Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman, the 49th GST council meeting would have launched different suggestions concerning the GST compensation, GST Appellate Tribunal, approval of the Report of Group of Ministers (GoM) on Capacity Based Taxation and Special Composition Scheme in specific Sectors on GST, recommendations relating […]
Finance Minister Nirmala Sitharaman, while presenting Union Budget 2021 referenced Rabindranath Tagore and stated that ‘faith is the bird that senses the light and sings while the morning is still black’. As another union budget release approaches, the market and residents remain hopeful and await budget pronouncements with bated breath, under the shadow of another […]
