New Delhi: Maharashtra, Karnataka, Uttar Pradesh, Odisha and Tamil Nadu are leading in collecting Goods and Services Tax (GST) cess levied mainly on sale of cars, helping the Centre pay off the market loans taken to give liquidity to states during the pandemic, showed data available from the GST Council for this fiscal up to January 2024.
Read MoreSource: https://taxguru.in/goods-and-service-tax/advisory-gstr-1-iff-introduction-14a-15a-tables.html
Introduction: The recent advisory on GSTR-1/IFF introduces two new tables, 14A and 15A, aimed at capturing amendments related to supplies made through e-commerce operators. This article delves into the implications of these additions for taxpayers and e-commerce operators.
Read MoreNEW DELHI : Amidst global economic uncertainties and supply chain disruptions, the government has expanded the scope of a scheme designed to make Indian exports more competitive globally by refunding various central, state and other local duties and taxes.
Read MoreSource: https://taxguru.in/goods-and-service-tax/gstn-e-waybill-integration-new-irp-portals.html
Introduction: In a significant development, the Goods and Services Tax Network (GSTN) has successfully integrated E-Waybill services with four new Invoice Registration Portal (IRP) portals via the National Informatics Centre (NIC). This integration expands the scope of E-Waybill generation, aligning it seamlessly with E-Invoicing, and is now accessible across all six IRPs.
Read MoreSource: https://taxguru.in/goods-and-service-tax/meerut-cgst-commissionerate-itc-fraud-bust.html
Introduction: In a significant development, the Anti-Evasion branch of Central Goods and Services Tax (CGST) Commissionerate, Meerut, has successfully uncovered a large syndicate involved in a major Input Tax Credit (ITC) fraud. The investigation, initiated in October 2023, revealed a network of 232 fake firms responsible for fraudulently claiming ITC exceeding Rs. 1,000 crore.
Read MoreBengaluru water crisis: Bengaluru district administration sets fixed rates for water tankers based on distance traveled. Private tankers supplying water in drought-prone areas will be subject to GST. Government prioritizes irrigation and water management projects over other endeavors.
Read MoreISD scheme enables distribution of ITC received at one location across other branches of a company. It ensures that ITC is allocated in adherence to the prescribed documentation and other legal requirements.
Read MoreIntroduction: The Ministry of Finance recently made headlines with the arrest of the Finance Head of a prominent firm for alleged GST evasion amounting to a staggering Rs 88 crore. This incident, which unfolded in Mumbai, has raised significant concerns about tax compliance and the enforcement of GST regulations.
Read MoreNew Delhi: The Delhi state government should get a share of the union government’s taxes devolved to states as per a formula to be set by the Finance Commission, Delhi finance minister Atishi said on Tuesday.
Read MoreNew Delhi: The Union government is considering a demand for reducing taxes on flex-fuel, or dual-fuel, vehicles, a move that could accelerate the push for cleaner transportation.
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