Summary of New GST Section 74A
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Summary of New GST Section 74A
The Central Goods and Services Tax (CGST) Act has introduced a new section 128A, to decrease the tax loads and proposes relief for the assessees towards tax obligations made between July 1, 2017, and March 31, 2020. This amendment permits people with tax obligations to settle their debts without facing extra interest or penalties, as […]
GST Network CEO Manish Kumar Sinha said, the design framework for the implementation of GST e-invoicing for retailers is mostly complete and is currently undergoing review by industry specialists. In the B2B sector e-invoicing is already present. Earlier this month GST Council in its meeting wished to extend e-invoice to the B2C sector on a […]
Acknowledging the hardship being faced by the exporters as of restriction concerning the refund on exports, the 54th GST Council Meeting as a trade facilitation measure, recommended omission of Rule 96(10), rule 89(4A) & rule 89(4B) from CGST Rules, 2017 prospectively, where the advantage of the specified concessional/ exemption notifications is taken on the inputs. […]
On August 29, 2024, the Tamil Nadu GST Department issued Circular No. 08/2024 furnishing the essential norms for the adjudication proceedings under the Goods and Services Tax (GST) along with the drafting of the GST notices, orders, personal hearing, etc. It said that the qualities and contents required for the order, the notices, and the […]
The blog discusses the way the new GST registration regulations affect startups, emphasizing the benefits along with the hardships. Goods and Services Tax (GST) execution was an influential event in the economic history of India. Specifically for startups the GST has facilitated the business operation by conducting a complex network of indirect taxes into a […]
Good and services tax (GST) collections in August surged to 10% from the same period of the previous year to Rs 1,74,962 crore, according to the government’s official statement. The same rise was noted in all categories- Central GST (CGST), State GST (SGST), Integrated GST (IGST), and cess. In the previous year, the gross GST […]
The Ministry of Finance is anticipated to issue a circular for the much-expected GST Amnesty Scheme, which was suggested in the Budget 2024, sources said. The motive of the scheme is to furnish relief to the assesses by exempting the interest and penalties as per the specified conditions for the tax matters that emerged between […]
The Madras High Court has quashed the suspension order of a commercial tax officer who issued refunds to bogus exporters without verification. The bench of Justice N. Anand Venkatesh remarked that as a quasi-judicial authority if the applicant has satisfied all the needs that are furnished under the pertinent act and the circular that by […]
