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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The Central and state Goods and Services Tax authorities have shot off a spate of notices to companies over the last few months. This is likely to only increase in the coming months.
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In yet another case of curbing GST evasion, Directorate General of GST Intelligence (DGGI) Ahmedabad has alleged Rs 1.2 to Rs1.5 lakh crore of tax evasion by shipping liners, sources have told CNBC-TV18.
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There is bad news for entities that availed of input tax credit (ITC) for GST based on bogus invoices without receiving the goods. The Allahabad high court has dismissed a petition and ruled that evidence of payment of toll and freight is required to be submitted to prove genuineness of a transaction.
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Calling revenue theft a national loss, CM Yogi Adityanath advised government officials to use technology to check tax evasion. While reviewing the state’s tax and non-tax revenues in the first two quarters, Yogi said there was a need for increasing special disciplinary units and mobile enforcement units, which have shown success in curbing tax evasion.
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A team of officials from the Central Goods & Services Tax (CGST) department raided a pan masala factory in Nadarganj area of Lucknow on Saturday night. The raids were on till reports last came in.
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It has come to the attention of the GST authorities that several taxpayers, whose GST registrations were previously canceled due to fraudulent practices, continue to operate their businesses and collect taxes unabated.
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