CBIC Chairman Sanjay Kumar Agarwal on Wednesday said the department will soon start sending advisories to businesses that are non-compliant on issuing e-invoices to their B2B customers.
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A detailed examination of money flow to and from online real money gaming firms was recently conducted by top government authorities such as the Enforcement Directorate (ED), Income tax (IT), and GST departments, suggesting that these companies might be involved in illegal activities.
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The Allahabad High Court has held that once rectified/ correct tax invoices and e-way bills are produced before the authorities before passing of the detention/ seizure order, the proceedings under the Goods and Service Tax Act, 2017 ought not to be initiated.
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The tax rates of essential goods and services have comedown since the inception of Goods and Services Tax (GST) in 2016, and consumers are paying “far less” taxes compared to what they used to pay pre-2016, Finance Minister Nirmala Sitharaman said on Tuesday.
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Finance Minister Nirmala Sitharaman said that the finance ministry’s focus is to include all businesses under the Goods and Services Tax (GST) regime and not just increase the revenue from the tax.
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The GST, E-Way bill System issued an Update dated November 06, 2023 regarding the 2 Factor Authentication is mandatory for taxpayers with AATO Rs 20 Crore and above from November 20, 2023. Users are requested to register for 2FA and also create sub-users so that EWB activities are managed without any problem.
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The Directorate General of Systems and Data Management, Central Board of Indirect Taxes and Customs (CBIC), issued Advisory No. 27/2023 dated November 7, 2023, regarding the amendment of Goods and Services Tax Identification Number (GSTIN) in the Bill of Entry after Out of Charge (OOC).
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UltraTech Cement has received an order from the Assistant Commissioner, CGST & C. Ex Division 3, Bhavnagar raising demand for GST of Rs 1.14 crore together with interest and equivalent penalty for alleged non-payment of differential GST on royalty of mined limestone, the company said in a BSE filing.
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Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman today i.e. November 07, 2023, launched 12 Goods and Services Tax (GST) Seva Kendras at Gyandham School, Vapi, in Gujarat.
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The Meerut Zonal Unit of the Directorate General of GST Intelligence (DGGI) has accomplished a major feat by cracking down on a large-scale fake invoicing syndicate that issued invoices with a taxable turnover of Rs. 1,481 crore. The fraud resulted in passing on of fake Input Tax Credit of Rs. 275 crore through 102 fake firms to over 1,000 beneficiary companies.
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E-way bills, or electronic permits, generated by businesses for transporting goods within and across states shot up to an all-time high of Rs 10.3 crore in October, 2023, breaking the previous record of Rs 9.34 crore reported in August. This is mainly on account of festive-driven consumption and improved compliance practices, which are expected to further boost the collection of goods and services tax (GST) in November.
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A month since the 28% goods and services tax (GST) kicked in, online money gaming companies are looking at various models to keep players interested.
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The Bihar government on Monday tabled an amendment bill in the assembly to replace an ordinance to facilitate the imposition of 28 per cent GST on online gaming in the state.
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In a significant breakthrough, the Directorate General of Goods and Services Tax Intelligence (DGGI), Meerut Zonal Unit, has accomplished a major feat by cracking down on a large-scale fake invoicing syndicate that issued invoices with a taxable turnover of Rs. 1,481 crore, resulting in passing on of fraudulent Input Tax Credit of Rs. 275 crore through 102 fake firms to over 1,000 beneficiary companies.
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Justice PS Narasimha, judge of the Supreme Court, recently expressed displeasure at being repeatedly addressed as “Your Lordship” and “My Lord”.
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The clubbing of all cases under the same principle will save Central Board of Indirect Taxes and Customs (CBIC)'s resources and time and facilitate a uniform interpretation of the law in the case of all the companies fighting the case.
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The Ministry of Finance, Department of Revenue, CBIC (Judicial Cell), issued instructions vide F. No. 390/Misc/30/2023-JC dated November 2, 2023, to reduce government litigation, setting monetary limits for filing appeals before CESTAT, High Courts, and the Supreme Court.
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The GSTN issued Advisory No. 611 dated November 04, 2023 for the Pilot Project of Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Gujarat and Puducherry.
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As North Block gears up for budget preparations which will be announced on February 1, 2024, the central board of Indirect Taxes and Customs (CBIC) is aiming at keeping healthy growth targets for GST Collections.
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Consumers would get an opportunity to win cash rewards if they insist on getting a goods and service tax (GST) bill on every purchase they make.
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Gross Goods and Services Tax (GST) revenues hit their second highest monthly tally in October at a little over Rs 1.72 lakh crore, breaking a few long- and short-term trends. To start with, they reflect a 13.4% uptick over last year’s kitty, the highest so far in 2023.
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