The CBIC vide Notification No. 52/2023 dated October 26, 2023, has issued Central Goods and Services Tax (Fourth Amendment) Rules, 2023 to further amend the Central Goods and Services Tax Rules, 2017 (“the CGST Rules”) making amendments in Rule 142 of the CGST, Rules.
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The CBIC vide Notification No. 52/2023 Central Tax dated October 26, 2023, has issued Central Goods and Services Tax (Fourth Amendment) Rules, 2023 to interalia amend FORM GST PCT-01.
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The Goods and Services Tax Network (GSTN) has issued important Advisory No. 610 dated October 27, 2023 related to changes in GSTR-5A
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The Directorate General of GST Intelligence (DGGI) is reportedly probing a recent deal between Raymond and Godrej. Earlier this year, Godrej Consumer Products had announced that it entered into an agreement to acquire the FMCG business of Raymond Consumer Care Limited, a leading player in deodorants and sexual wellness categories in India.
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Remuneration or consideration received, directly/indirectly by a serving or separated director, for providing corporate guarantee will be treated as taxable value for GST, the Central Board of Indirect Taxes & Customs (CBIC) has said.
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The ambiguity in product categorisation when it comes to Goods and Services Tax (GST) rates is causing confusion once again—this time it is snacks and namkeens. The snacks industry is now seeking clarity from the government on the status of namkeen, fryums and snacks after a slew of DGGI notices, sources told CNBC-TV18.
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The CBIC issued Circular No. 25/2023-Customs dated October 25, 2023, introducing amendments to Circular No. 11/2013 dated March 6, 2013. These amendments pertain to the inclusion of Surat within the jurisdiction of the Commissioner of Customs, Ahmedabad.
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The CBIC issued Circular No. 26/2023-Customs dated October 26, 2023, regarding the revision of All Industry Rates (AIRs) of Duty Drawback. These revisions were notified in Notification No. 77/2023-Customs (N.T.) dated October 20, 2023, and they will come into force on October 30, 2023.
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The Detailed Agenda and Minutes of the 50th Council meeting held on July 11, 2023 are now available on the GST Council website.
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The Detailed Agenda and Minutes of the 51st Council meeting held on August 02, 2023 are now available on the GST Council website.
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A bench of the Gujarat High Court has stayed GST department notices regarding the imposition of GST on the transfer of leasehold rights over Gujarat Industrial Development Corporation (GIDC) land across the state.
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The Goods and Services Tax (GST) composition scheme is a simplified taxation structure designed to ease the compliance burden for small businesses in India. This scheme is primarily chosen by businesses with specific annual turnovers. Under the GST law, businesses with an annual aggregate turnover of up to Rs1.5 crore (Rs 75 lakh for special category states) can opt for the composition scheme.
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The Supreme Court has recently issued a notice in a Writ Petition seeking the availability of an option for revised returns on the GSTIN Portal to enable GST Dealers to rectify human errors in their return filings and to avoid disputes between the GST Department and GST Registered Persons.
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Around 700 boutiques across Punjab are under scanner of the Punjab Excise and Taxation Department (PETD) as neither these units pay GST, nor issue mandatory bills to customers. There are 40 big boutiques in Patiala, Ludhiana and other districts, which have their annual turnover in lakhs, but are not following the mandatory guidelines of the state government.
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In recent weeks, the central and state GST authorities have issued demand notices to companies spanning a range of sectors — from consumer durables to smart phones, insurance, online gaming and service providers.
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The Ministry of Finance, Department of Revenue issued Notification F. No A-50050/69/2023-CESTAT-DOR dated October 25, 2023, to notify the “Goods and Services Tax Appellate Tribunal (Appointment and Conditions of Service of President and Members) Rules, 2023.”
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Deputy CM Dushyant Chautala on October 24, 2023 issued directives to officials for the development of a robust mechanism aimed at eradicating GST evasion within the state. The move is expected to boost revenue, enabling the government to undertake more initiatives.
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The Calcutta High Court has directed the refund of the penalty in the case where there was a 9-hour time gap between the expiry of the e-way bill and the interception of the vehicle.
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This financial year the Centre is expecting to recover evaded goods and services tax (GST) of over Rs 50,000 crore, more than double compared to FY23, officials have told Business Standard.
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The standoff between the police and the Commissionerate of Central GST, Excise and Customs over an investigation into gold smuggling through the Calicut International Airport took a new turn on Saturday when a police team led by DySP Moosa Vallikkadan raided the house of a GST inspector at Kozhikode.
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India’s GST officials have served notices worth Rs 1 lakh crore to online gaming companies, according to a report by Reuters.
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