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New functionality for biometric-based Aadhaar authentication and document verification for GST registration applicants in Madhya Pradesh, w.e.f November 27, 2024, has been introduced under the GST Network (GSTN). The very change is as per Rule 8 of the CGST Rules, 2017, which allows the applicants to be identified on the GST portal via data analysis […]
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 Delhi High Court ruled that the amount of debt to be disallowed from the Electronic Credit Ledger (ECL) must not surpass the amount of the Input tax credit (ITC), which is regarded to have been taken by taxpayers wrongly. The High Court explained that Rule 86A of CGST Rules 2017 is an emergent measure […]
GST Network mentioned the monthly returns data for July and August 2017, the start of the Goods and Services tax incorporation has been restored on the portal. The GSTN mentioned that it is executing its data policy, under which the data for the assessments would be retained for 7 years. Therefore the GST returns data […]
Karnataka, the second-highest state in India for Goods and Services Tax (GST) collection, launched a new initiative aimed at improving GST collection by removing fraudulent taxpayers. According to Commercial Taxes Commissioner C. Shikha, a pilot study revealed that the new system successfully removed approximately 30 per cent of fraudulent taxpayers. Once the taxpayers were identified […]
The Comptroller and Auditor General (CAG) has urged the Finance Ministry to periodically specify high-risk taxpayers within the GST composition scheme and validate their reported sales figures through external sources, including third parties, to declare their sales to combat tax evasion. After scrutinizing 8.66 lakh composition taxpayers under central jurisdiction in the fiscal years 2019-20 […]
New functionality has been incorporated by the GST portal that permits the users to monitor the status of return filing of the enrolled assessees financial year-wise. The same rise has the motive to furnish effective clarity and simplicity of access to historical information for businesses and tax professionals. Key Highlight of New Functionality Track the […]
There has been a tremendous 134% rise in the number of new taxpayers, since the incorporation of the GST 7 years ago. As per the information from the state commercial tax department, currently, the number of active taxpayers has increased from 5.08 lakh on 1st July to 11.95 lakh. The same rise is due to […]
The Central Board of Indirect Taxes and Customs (CBIC) chairman Sanjay Kumar Agarwal inaugurated the GST Bhawan, an official complex of CGST Rohtak Commissionerate at Rohtak, Haryana, the Ministry of Finance. To assist the Goods and Services Tax assessees the newly inaugurated GST Bhawan is easily accessible and is at the centre of connectivity to […]
