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The Central Board of Indirect Taxes & Customs (CBIC), via Circular No. 245/02/2025-GST incurred the clarifications for the applicability of GST on penal charges being imposed by the Regulated Entities (REs) given RBI instructions on 18.08.2023 asking such Regulated Entities (REs) to assess penal charges in place of penal interest. The clarification was grounded on […]
The Central Board of Indirect Taxes & Customs (CBIC) through the Circular No. 244/01/2025-GST, regularised the GST payment on co-insurance premium apportioned by the lead insurer to the co-insurer and on ceding/ re-insurance commission deducted from the reinsurance premium filed via the insurer to the reinsurer. The circular was furnished via the granted authority by […]
In the case of Kashi Exports vs Union of India & Ors. (2024), the Gujarat HC instructed tax officials to take another look at a request for a refund associated with GST made by Kashi Exports. The matter is towards the computation of the adjusted total turnover under Rule 89(4) of the CGST Rules. Kashi […]
The Central Board of Indirect Taxes and Customs (CBIC) has stated in a recent announcement via circular number 243/37/2024 that gift vouchers and cards will not be charged Goods and Services Tax (GST). It was mentioned by the Central Board of Indirect Taxes and Customs (CBIC) that the way the Goods and Services Tax (GST) […]
It was held by the Jharkhand High Court that the Goods and Services Tax ( GST) Input Tax Credit ( ITC ) is permissible even on the late filing of the Goods and Services Return GSTR-3B for the FY 2017-18 while asking for a Refund of Penalty & Interest to the petitioner. M/s. Ram Constructions, […]
The Central Board of Indirect Taxes and Customs (CBIC) has announced a one-day extension for filing GSTR-3B, moving the deadline to November 21, 2024, for GST-registered taxpayers located in Maharashtra and Jharkhand, which are currently preparing for legislative assembly elections. On November 18, 2024, the CBIC shared via X (formerly Twitter) that the elections in […]
The demand and penalty order passed u/s 129 of the Central Goods and Services Tax Act 2017 against a trader whose GST registration came to be suspended after it found that the goods in transit were accompanied by proper tax invoice and the e-way bill had been set aside by the Allahabad High Court. A […]
Through the Central Goods and Services Tax (Second Amendment) Rules, 2024, the Central Board of Indirect Taxes and Customs (CBIC), has introduced amendments in the process pertinent to the cancellation and suspension of GST registration. Such amendment has the objective of improving compliance and facilitating the procedure for the assessees and authorities. Amendment Highlights Rule […]
Summary of New GST Section 74A
