The Kerala GST Department issued Order No. SGST/6199/2023-PLC1 dated November 03, 2023, authorizing Joint Commissioners of State Tax in the Taxpayer Services District to exercise powers under the proviso to sub-rule (1) of rule 23 of the Kerala Goods and Services Tax Rules, 2017 (“the KGST Act”). This pertains to Notification S.R.O. No. 1062/2023, dated September 30, 2023.
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Generation and quoting of Document Identification Number (DIN/Reference Number (RFN) on any communication issued by the officers of the Delhi Goods and Services Tax Department to tax payers and other persons concerned.
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The GSTN issued an Advisory No. 612 dated November 28, 2023 for the procedures and provisions related to the amnesty for taxpayers who missed the appeal filing deadline for the orders passed on or before March 31, 2023.
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The mechanism of Authority for Advance Ruling (AAR) was set up under the goods and services tax (GST) to provide tax clarity to companies and other assesses. However, conflicting rulings by the state-level AARs in some cases and the state-specific jurisdiction of these orders have not made them an effective way to address the queries of assessees.
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Finance Minister Nirmala Sitharaman assured on Monday that the GST regime is transitioning from ambiguity to clarity on certain matters, addressing global firms’ anxieties regarding ‘tax certainty’ in the face of ongoing tax demand notices and investigations by revenue authorities.
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Punjab Finance Minister Harpal Singh Cheema on Tuesday informed the House that the state government has received Rs 3,670 crore of Goods and Services Tax (GST) compensation from the Centre after it lodged a new claim of Rs 5,005 crore with it.
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The central government is working on a simplified Goods and Services Tax (GST) regime for services industries, including e-commerce and travel, which may not have physical offices in the states they operate.
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Hotel operators, especially those in the mid-market and upscale segments, are confronting a challenge that threatens to steer diners away to standalone restaurants: an uneven goods and services tax (GST) structure.
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After the fallout of the recent case at public-sector lender UCO Bank involving erroneous money transfers, the Finance Ministry has called for a meeting on Tuesday (November 28) to discuss digital payment frauds, financial crimes and cybersecurity measures required to counter these activities.
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To curb rising instances of online payment frauds, the government is planning to introduce a minimum time for a transaction beyond a particular amount happening for the first time between two persons. The plan likely includes a possible four-hour window for the first transaction between two users for digital payments being processed for all transactions likely above Rs 2,000, government officials told The Indian Express.
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The Kerala GST Department issued Standard Operating Procedure (“SOP”) vide SGST/973/2023-LEGAL3 dated November 21, 2023, for the Insolvency and Bankruptcy Code (IBC), 2016 cases before the National Company Law Tribunal (“NCLT”).
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The finance ministry is aiming to roll out pre-filled goods and services tax (GST) return forms before the next fiscal year, which is expected to resolve the issue of huge data mismatches leading to tax notices, a senior government official said.
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The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) and the National Academy of Direct Taxes (NADT) today i.e. November 24, 2023 signed a Memorandum of Understanding (MoU) for sharing resources, such as best practices, expert faculty, training materials and innovative technologies.
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In order to check the entry of fraudsters in the system, the State Taxes & Excise Department has set a target of hundred per cent approval of GST registrations in manual mode after proper verification of documents attached with the registration application. Further, the department is taking appropriate measures for physical verifications of registrants considered ‘dicey.’
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The Kerala Vyapari Vyavasayi Ekopana Samithi (KVVES) has demanded a separate department for retail trade in the State to enrich the sector, to protect existing jobs and to create new ones.
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The Haryana Government is hoping to partly recover outstanding dues of nearly Rs 30,000 crore from traders by offering a one-time settlement (OTS) scheme for the resolution of pending VAT cases from the pre-GST era.
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The state government has taken several ambitious steps to ensure financial discipline with a motive for improving the economic health of the state. Many new initiatives have been taken in every sector, to curb the wasteful expenditure.
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The 16th Finance Commission will have a tough task, primarily because the mismatch between the resource mobilisation by the Centre and state governments and the rising requirements of spending of public monies on socio-economic development and critical infrastructure creation refuses to go away.
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Increasing the ambit of amnesty scheme in Goods and Services Tax (GST) allowing an additional window to file appeals against demand orders by extending the cut-off date and including more cases will help in doubling the number of beneficiaries, said experts.
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The number of informal micro units (IMEs), which are not covered under the Goods and Services Tax (GST) regime or exempted from the CGST Act, 2017, registering for the Udyam certificate via the government’s Udyam Assist Platform (UAP) to be eligible for priority sector loans (PSL) has crossed the 1-crore mark. At the time of filing this report, 1.01 crore IMEs were Udyam-registered, according to the data from the Udyam portal.
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Another case of Goods and Services Tax (GST) authorities cancelling the registration of a company without allegedly following the rules has come to the fore.
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