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It was discovered by the GST officers that nearly 18,000 bogus companies have been evading taxes of around Rs 25,000 crore. By claiming the tax benefits without performing the real business these companies were being made merely to cheat the Goods and Services Tax (GST) system. This investigation which ran from August 16 to the […]
On the GST portal, an updated feature called IMS (Invoice Management System) has been introduced. As it isn’t feasible to approve every invoice or take action after reconciliation with the records on the portal, SAG Infotech has implemented the new IMS dashboard feature in Gen GST Software for registered taxpayers to ease compliance. The receiver […]
An important advisory has been issued by the Goods and Services Tax Network (GSTN) on the updated introduced Form GST DRC-03A. It was introduced for demand adjustments in the electronic obligation register for the assessee. What is the New GST DRC-03A Form? The amendment has arrived in answer to the instances where the assesses used […]
Businesses with Aggregate Annual Turnover (AATO) greater than Rs 10 crore from April 1, 2025, will not be permitted to report e-invoices older than 30 days on the reporting date under the goods and services tax (GST). The same reform will ensure the GST payment within time and shall govern the delays in the reporting […]
On 25th September (Wednesday) the Gujarat High Court said that the applicable Goods and Services Tax (GST) to fly ash bricks and blocks with less than 90% fly ash content. It was carried by the court that the products entitled to a lower GST rate of 5% than the 18% GST rate on products that […]
The Goods and Services Tax (GST) portal has activated Form DRC-03A which allows the taxpayers to adjust or set off the voluntary payments against the order of demand. The same new form is been introduced Under Notification 12/2024, which is an addition to the GST compliance process. The DRC-03A form acts as a continuation of […]
Amendments have been introduced by the Central Government to the Central Goods and Services Tax Act, 2017, under the Finance (No. 2) Act, 2024, which has the objective of improving tax compliance and facilitating the load on taxpayers. the Gujarat government has furnished an ordinance revising the state GST act to extend these relaxations in […]
Customers who replace electricity meters for a three-phase electricity connection, after damage or disconnection, will not be required to pay 18% GST on replacement charges of 1,610 to Tamil Nadu Power Distribution Corporation Ltd (TNPDCL), permitting them to save 290. GST on 25 services has been removed by TNPCDL on all consumers from households to […]
An advisory has been released by the Goods and Services Tax Network (GSTN) which notifies the taxpayers that the GST portal shall introduce a filing limitation on specific GST returns more than three years past their due date. GSTN has also confirmed that these changes, which restrict GST return submissions after a three-year duration, will […]
