Payment gateway operators have urged the finance ministry to waive the 18% GST on commissions earned from processing digital transactions under ₹2,000. The proposal will be considered during the upcoming…
Advance Tax Payment on December 16 Due to Holiday on December 15
Taxpayers with an income tax liability exceeding ₹10,000 are required to pay advance tax as per the Income Tax Act's quarterly schedule to avoid penal interest and penalties. For the…
Farmers Demand GST Exemption on Agricultural Inputs at Pre-Budget Consultation
A delegation of farmers met with Union Finance Minister Nirmala Sitharaman during a pre-budget consultation last week to voice their demands, including the removal of GST on agricultural inputs such…
Extension of GSTR-3B Filing Deadline for Murshidabad, West Bengal
The Central Board of Indirect Taxes and Customs (CBIC), through Notification No. 30/2024–Central Tax, dated December 10, 2024, has extended the deadline for filing GSTR-3B returns for October 2024 for…
Rajasthan to Lead India with Faceless GST Tax Administration
Rajasthan will become the first state in India to introduce faceless/randomised tax administration. This initiative aims to improve transparency and efficiency in GST compliance across the state. Key Highlights of…
Proposal to Lower GST on Health Policies Gains Momentum
The Insurance Regulatory and Development Authority of India (IRDAI) and the Department of Financial Services (DFS) have voiced their support for a proposal to reduce Goods and Services Tax (GST)…
GSTN Issues Advisory on Table 8A and 8C Mismatch in GSTR-9 for FY 2023-24
The GST Network (GSTN) issued Advisory No. 557 on December 9, 2024, addressing concerns related to mismatches between Table 8A (auto-populated data from GSTR-2B) and Table 8C (manually filled data)…
No Pending GoM Report on GST Rate Rationalisation: Finance Ministry Clarifies
On December 9, 2024, the Finance Ministry clarified that the Group of Ministers (GoM) on rate rationalisation has not submitted any pending report to the GST Council. Minister of State…
Copper Trader Denied Bail in ₹19 Crore GST Evasion Case
In a significant step against GST evasion, the Additional Metropolitan Magistrate in Surat rejected the bail plea of Sandeep Anwar Virani, a partner at Fortune Copper Industries. The authorities arrested…
Advisory on Mandatory Sequential Filing of GSTR-7 Returns
The GSTN issued Advisory No. 555 on December 4, 2024, regarding the mandatory sequential filing of GSTR-7 returns, effective from November 1, 2024, as per Notification No. 17/2024-Central Tax dated…