31 Aug 2023 04:53 PM
New

Online Gaming: Implications of GST amendment and retrospective application

Source: https://www.livemint.com/opinion/first-person/online-gaming-implications-of-gst-amendment-and-retrospective-application-11693468432686.html

There has been a lot of discussion surrounding the recent changes to the CGST Act, which will only come into effect once all State GST laws have also been amended. One area of particular concern is the potential retrospective application of these changes to online gaming in India.

31 Aug 2023 04:58 PM
New

This government-backed scheme may turn you into a crorepati. Here is how

Source: https://www.livemint.com/money/personal-finance/how-to-become-rich-this-government-backed-scheme-may-turn-you-into-a-crorepati-here-is-how-11693471482835.html

'Mera Bill Mera Adhikaar' scheme to reward customers with cash prizes for uploading GST bills

31 Aug 2023 05:26 PM
New

CTD Cracks Down on Fake GST Bill Operators

Source: https://taxguru.in/goods-and-service-tax/ctd-cracks-down-fake-gst-bill-operators.html

Introduction: The Commercial Taxes Department (CTD) of Bengaluru’s South Zone recently brought to light a massive fraud scheme involving fake GST bill operations. The operation is one of its kind where fraudulent invoicing in the service sector was unveiled.

31 Aug 2023 05:36 PM

Advisory on Reporting of ITC Reversal opening Balance

Source: https://taxguru.in/goods-and-service-tax/advisory-reporting-itc-reversal-opening-balance.html

Please read the following advisory carefully before proceeding ahead for reporting the ITC Reversal opening balance:

30 Aug 2023 05:58 PM

Solutions for ITC Mismatch in the GST Regime

Source: https://taxguru.in/goods-and-service-tax/solutions-itc-mismatch-gst-regime.html

Introduction

The Goods and Services Tax (GST) regime, now in its seventh year, has undergone various evolutions. Despite its extended tenure, practical challenges like the ITC mismatch persist, affecting both professionals and the business community. Let’s delve deeper into this pressing issue.

30 Aug 2023 05:22 PM

Advisory for Applicants: Biometric-based Aadhaar Authentication for GST Registration

Source: https://taxguru.in/goods-and-service-tax/biometric-based-aadhaar-authentication-gst-registration.html

Introduction: The Goods and Services Tax Network (GSTN) has issued a significant advisory to GST (Goods and Services Tax) applicants regarding the Aadhaar authentication process for registration. The advisory outlines the new biometric-based Aadhaar authentication process and its pilot implementation details.

30 Aug 2023 05:14 PM

G20 Summit: ‘We should address the question of debt distress,’ says Nirmala Sitharaman

Source: https://www.livemint.com/news/india/g20-summit-finance-minister-debt-distress-gst-cryptocurrency-nirmala-sitharaman-banks-11693358613871.html

As India is holding its presidency for the G20 Summit, Union Finance Minister Nirmala Sitharaman said that India given the consideration of things and developments across the world, addressing the question of debt distress is a must.

28 Aug 2023 06:03 PM

Illegal ITC Availment Arrest: CGST Navi Mumbai Cracks Down

Source: https://taxguru.in/goods-and-service-tax/illegal-itc-availment-arrest-cgst-navi-mumbai-cracks-down.html

Introduction: In a significant move against tax evasion, CGST Navi Mumbai apprehended a proprietor/key person involved in illicitly availing and utilizing counterfeit Input Tax Credit (ITC) amounting to Rs. 5.01 Crores. The fraudulent scheme revolved around bogus invoices worth Rs. 30 Crores, leading to a substantial loss in tax revenue. This article delves into the arrest, the investigation, legal implications, and the broader context of such anti-evasion efforts.

28 Aug 2023 05:57 PM

Rahul Gandhi's chocolate-making endeavor at Ooty factory | Watch

Source: https://www.livemint.com/politics/rahul-gandhis-chocolate-making-endeavor-at-ooty-factory-watch-11693156409711.html

Congress MP Rahul Gandhi visited a chocolate-making factory in Ooty and spoke about GST

28 Aug 2023 06:07 PM

CGST Navi Mumbai Cracks Down on Rs 5 Crore ITC Fraud

Source: https://taxguru.in/goods-and-service-tax/cgst-navi-mumbai-cracks-rs-5-crore-itc-fraud.html

On August 25, 2023, CGST Navi Mumbai undertook a significant operation leading to the arrest of the proprietor and key personnel from six firms. They are charged with availing, utilizing, and passing on fabricated Input Tax Credit (ITC), all orchestrated through counterfeit invoices.