Key Findings 1. Underassessment and Revenue Loss The CAG Report No. 7 of 2024, covering the period ending March 2022, identified revenue losses amounting to ₹755.49 crore in the Commercial…
Pre-Deposit Waiver: Rare and Exceptional Cases
The Hon’ble Bombay High Court, in its judgment in the case of Lalit Kulthia & Anr. v. Commissioner of Customs (Appeals) Mumbai III & Ors. [Writ Petitioner No. 476 of…
Biometric-Based Aadhaar Authentication for GST Registration Now Available in 22 States/UTs
Haryana, Manipur, Meghalaya, and Tripura Added to the List The GST Network (GSTN) has expanded the biometric Aadhaar authentication and document verification facility for new GST registrations to Haryana, Manipur,…
States Divided Over GST Rate Rationalisation Amid Economic Concerns
The proposed Goods and Services Tax (GST) rate rationalisation by the Group of Ministers (GoM) has sparked mixed reactions from states, highlighting concerns over economic timing and potential impacts. Key…
Payment Gateways Request GST Waiver on Low-Value Commissions
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)…