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For Indian taxpayers looking to utilise the GST Amnesty Scheme before the June 30, 2025, deadline, the GSTN has clarified the conditions. According to Section 128A, a full waiver of pending interest and penalty is applicable only if the eligible taxpayer has already paid the disputed tax amount on or before March 31, 2025. On […]
To bring more businesses under GST, the West Bengal Finance Department is initiating a one-year campaign during this financial year. To increase the total tax revenue collection through GST is the main objective, commercial tax officials claim. The GST collection in FY 2024-25 grew by only 2% points more than the national average. In FY […]
In the recent Gujarat state budget, an initiative has been announced that will take effect on Friday, following the completion of administrative processes. “Under the new scheme, a person buying an electric vehicle will be required to pay just 1 per cent as vehicle tax. For instance, a vehicle with a base price of ₹12.49 […]
Starting April 1, 2025, new financial rules will introduce changes to GST, income tax, and banking. Below are the complete details. New Feature to Strengthen GST Security The Goods and Services Tax (GST) structure will undergo updated modifications, and the new security feature, Multi-Factor Authentication (MFA), will become mandatory for taxpayers accessing the GST portal. […]
A one-time tax settlement scheme has been introduced by The Haryana government to furnish tax relief and waivers for small traders. The same initiative is anticipated to simplify the financial burden on businesses stumbling with pending tax disputes. The one-time tax settlement scheme proposes significant exemptions on outstanding tax amounts, aiding a wide range of […]
The Maharashtra Legislative Council in a move to solve the long-standing tax disputes has sanctioned a bill granting an amnesty to Public sector undertakings (PSUs) of the Central and state governments for their tax dues to the Maharashtra government. Amnesty Scheme Expected to Generate ₹8K Crore in Revenue State Finance Minister Ajit Pawar presenting the […]
The Kerala GST Department has provided guidelines via instruction no.6/2025 for the Amnesty Scheme’s implementation under Section 128A of the KSGST Act, which addresses the exemption of interest, penalties, or both concerning demands made under Section 73 of the KGST Act for the fiscal years 2017–18, 2018–19, and 2019–20. To ease the GST Act about […]
In a letter to the chairman of the Central Board of Indirect Taxes & Customs (CBIC), Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers), urged an extension of the GST amnesty scheme and the due date for filing Form 9 (Annual Return) and Form 9C (Reconciliation Statement). The request takes into account the […]
As the end of the financial year approaches, businesses need to ensure that they are complying with their Goods and Services Tax (GST) obligations. The GST system can be complex, with various rules and regulations that need to be followed, which is why having a checklist can be incredibly helpful. In this article, we will […]
