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GST Updates

GST Updates

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GST News Updates | 24-12-2023

GST News Updates | 23-12-2023

GST News Updates | 22-12-2023

GST News Updates | 21-12-2023

GST News Updates | 20-12-2023

GST News Updates | 19-12-2023

GST News Updates | 18-12-2023

GST News Updates | 17-12-2023

Major Developments:

  • Central Goods and Services Tax (Second Amendment) Bill, 2023: This bill, passed by Rajya Sabha, expands the eligibility for GST Appellate Tribunal members, allowing advocates with 10 years of experience in indirect taxes to join, and raises the upper age limit for the Chairman from 65 to 67 years.
  • GST Compendium December 2023: This report by Grant Thornton Bharat discusses ongoing GST issues, insights from experts on valuations under customs law and judicial precedents, and recent judicial rulings impacting GST.
  • Budget 2023 GST Changes: Some key changes include allowing composite dealers to supply goods through e-commerce operators without restrictions (except for services), penalizing e-commerce operators who allow out-of-state sales by composite dealers, and correcting minor language inconsistencies in Section 16(2) of the CGST Act.

Other News:

  • High courts granting stay orders on contentious GST demands: This includes stays on recovery proceedings related to GST demands on the gaming industry.
  • Government allowing non-SEZ IT/ITeS units to operate from demarcated non-processing areas of IT/ITeS SEZ: This move is seen as beneficial for the IT sector.
  • Supreme Court ruling on by-products/waste products and ITC: The court held that by-products or waste generated during manufacturing cannot be treated as exempted goods to restrict Input Tax Credit (ITC), potentially impacting GST calculations for such products.

GST News Updates | 16-12-2023

1. Search for new GST portal technology partner: The Central Board of Indirect Taxes and Customs (CBIC) announced it was searching for a new technology partner to build and maintain the GST portal. This comes after years of issues with the current portal, causing frustration for taxpayers.

2. CBIC instructs GST officers not to issue notices mechanically: The CBIC issued instructions to GST officers, asking them to avoid issuing notices mechanically without considering the facts and circumstances of each case. This aims to reduce unnecessary harassment of taxpayers.

3. GST threshold limit increase under consideration: Finance Minister Nirmala Sitharaman hinted at the possibility of increasing the GST threshold limit from ₹40 lakhs to ₹60 lakhs. This would benefit small businesses by reducing their compliance burden.

4. GSTR-3B due date extension for Tamil Nadu districts: Due to Cyclone Mandous, the CBIC extended the due date for filing GSTR-3B returns for certain districts in Tamil Nadu.

5. GST Compendium December 2023: The Grant Thornton Bharat released its December 2023 GST compendium, discussing ongoing GST issues and expert commentary on valuations under customs law and judicial precedence.

GST News Updates | 15-12-2023

Major GST update that took effect on 15, 2023 was the mandatory inclusion of a minimum 6-digit Harmonized System of Nomenclature (HSN) code in e-invoices for taxpayers with an Annual Aggregate Turnover (AATO) of Rs. 5 crores and above. This means:

  • Businesses with an AATO exceeding Rs. 5 crore must now include a 6-digit HSN code on all their e-invoices issued from December 15th onwards.
  • This requirement aligns with the existing mandate for e-Waybills, where 6-digit HSN codes were already mandatory for businesses with an AATO above Rs. 5 crore.
  • The goal of this update is to improve tax administration and data analysis by providing more granular information about goods and services being traded.

It’s important to note that there were no other major GST updates on December 15th, 2023. Any information you might have come across about other changes is likely outdated or inaccurate.

GST News Updates | 14-12-2023

On December 14th, 2023, there were several key developments in the realm of GST:

1. Introduction of the GST Bill to Raise Age Limit: Finance Minister Nirmala Sitharaman introduced a bill in the Lok Sabha seeking to raise the age limit for the President and members of the Goods and Services Tax Appellate Tribunal (GSTAT). The proposed amendments will extend the upper age limit for the GSTAT Chairman to 67 years from 65 and introduce eligibility for advocates with 10 years of experience specializing in indirect taxes to become tribunal members. This aims to address the issue of vacancies and expedite dispute resolution.

2. Setting Up of State-Level Benches of GSTAT: The government notified the setting up of 31 benches of the GSTAT across various states and Union Territories. This move decentralizes the appellate process and brings faster resolution for taxpayers facing disputes with tax authorities. States like Uttar Pradesh, Karnataka, and Maharashtra will have multiple benches, while smaller states and UTs will share benches.

3. Other News:

  • The Supreme Court ruled that by-products generated during manufacturing are not automatically exempt from GST and can be taxed under the Goods and Services Tax regime. This has implications for various industries.
  • High courts granted stay orders on some significant GST demands, including those related to the gaming industry, providing temporary relief to affected businesses.
  • The government allowed non-SEZ units involved only in IT/ITeS businesses to operate from demarcated non-processing areas of IT/ITeS SEZs, boosting ease of doing business for such enterprises.

GST News Updates | 13-12-2023

GST news developments on December 13, 2023:

GST on Secondment of Expats: The Central Board of Indirect Taxes and Customs (CBIC) issued Instruction No. 05/2023-GST dated December 13, 2023, providing guidelines for assessing Goods and Services Tax (GST) on the secondment/deputation/loaning of employees/expats. This addresses a burning issue that has led to show-cause notices to several multinational companies in India following a Supreme Court judgement in May 2022.

The instructions provide observations, guidance, and instructions for GST authorities to investigate and adjudicate matters related to the taxability of secondment transactions. This aims to bring clarity and consistency to the treatment of such transactions under GST.

GST News Updates | 12-12-2023

  • Finance Minister clarifies: No pending GST dues for any state, but some haven’t submitted AG’s report for fund release. Finance Minister Nirmala Sitharaman addressed concerns about GST dues in the Rajya Sabha, stating that no dues are pending from any state. However, some states haven’t provided the necessary certificates for releasing their share of funds. (Source: Deccan Herald)
  • MNCs challenge GST notices on services received from expats. Over a dozen multinational companies are contesting show-cause notices issued by the Directorate of GST Intelligence regarding services received from expatriates. The dispute revolves around whether services provided by expatriates reimbursed by Indian companies attract GST under “supply of manpower.” (Source: The Economic Times)
  • Sri Lanka president justifies planned VAT hike by citing India’s 18% GST on IT sector. President Ranil Wickremesinghe, defending the proposed increase in Sri Lanka’s VAT to 18%, mentioned that India also charges the same rate on the IT sector. This suggests India’s GST system might influence other countries’ tax policies. (Source: Daily Mirror)
  • Tata Power Green Energy seeks compensation for change in GST rate on solar projects. The company filed a petition with the Karnataka Electricity Regulatory Commission requesting compensation for a GST rate increase on solar projects. This case highlights the potential impact of future rate changes on renewable energy projects. (Source: SolarQuarter)
  • Rs. 344.57 crore GST evasion detected against lottery distributors, Rs. 621.56 crore recovered. The government announced successful recovery of over Rs. 621 crore from lottery distributors who evaded GST totalling Rs. 344.57 crore. This showcases the government’s ongoing efforts to curb tax evasion in various sectors. (Source: Taxmann)

Additional points of interest:

  • These are just some of the prominent GST news stories from December 12th. Several other developments might have occurred beyond this list.
  • Some news sources might have a regional focus, so staying updated with local news outlets could provide further insights.
  • If you have a specific area of interest within GST, like a particular industry or rate change, searching for news tailored to those keywords might be beneficial.

GST News Updates | 11-12-2023

  • LIC receives GST demand order with interest and penalty worth ₹183 crore for Telangana. The demand relates to alleged irregularities in availing input tax credit (ITC) on services rendered by its agents.
  • GST annual return update: Table 8A (ITC Details) for GSTR-9 FY 2022-2023 starts downloading. This facilitates easier filing of the annual return by taxpayers, as they can now access invoice-wise details of ITC auto-populated by the GST portal.
  • Punjab appoints separate heads for taxation and excise for the first time. This is expected to streamline administration and improve efficiency in tax collection.
  • Mizoram contractors urged to pay GST. The state’s taxation minister, Lalchamliana, expressed concern about reports of non-compliance among contractors and stressed the need for stricter enforcement.

Other noteworthy news:

  • GST collection in Haryana crosses ₹2000 crore mark in November 2023. This suggests positive economic recovery and higher business activity in the state.
  • CBIC clarifies on GST applicability on services provided by foreign universities to Indian students. The clarification provides much-needed guidance to educational institutions and students.
  • GST council meeting likely to be held in December 2023. The agenda is expected to include discussions on rate rationalization, simplification of procedures, and dispute resolution mechanisms.

GST News Updates | 10-12-2023

  • Karnataka’s GST collection jumps 16.5% during festive season: The Commercial Taxes Department attributes the increase to higher shopping activity and improved enforcement drives.
  • About 33,000 notices sent by CBIC officers for discrepancies in FY18, FY19 returns: This indicates efforts to crack down on tax evasion and ensure compliance.
  • MNCs challenge GST notices on services received from expats: Companies argue that secondment of employees should not be subject to tax.
  • GST revenues soar amid unclear laws: Experts call for clarity in provisions on exports, SEZ units, and deemed exports.

Other noteworthy news:

 

  • Amnesty schemes valid till June 2023 for late filers and defaulters.
  • Risk-based biometric Aadhaar authentication for Gujarat implemented.
  • Assessments for FY 2017-18 nearing completion, taxpayers advised to be prepared.

 

GST News Updates | 09-12-2023

  • GST Amnesty Scheme Extended: The deadline to avail the amnesty scheme for late filing of GSTR-4, GSTR-9, GSTR-10, defaulters under section 62 of CGST Act, and revocation of cancelled GST registration has been extended to 31st March 2024.
  • Biometric Authentication and Document Verification in Andhra Pradesh: From 4th December, Andhra Pradesh has mandated biometric-based Aadhaar authentication and document verification for new GST registrations.
  • ICAI Releases Updated Technical Guide: The Institute of Chartered Accountants of India (ICAI) released an updated technical guide on GSTR-9C and GSTR-9 for FY 2022-23.
  • Computation of ITC: The GST portal has updated the computation of input tax credit (ITC) in taxpayers’ GSTR-9 based on suppliers’ returns filed up to 30th November 2023.

Other Important Dates and Deadlines:

  • 9th December: Due date for filing GSTR-8 for e-commerce operators who deducted TCS under QRMP scheme for October 2023.
  • 20th December: Due date for filing GSTR-3B and GSTR-5A for November 2023 for taxpayers with turnover exceeding Rs. 5 crore.
  • 25th December: Due date for PMT-06 monthly tax payment for November 2023 under the QRMP scheme.
  • 28th December: Due date for filing GSTR-11 for November 2023.
  • 31st December: Last date to file GSTR-9 and GSTR-9C for FY 2022-23.

Additionally:

  • The CBIC is considering expanding e-invoicing to B2C supplies.
  • The High Court ruled that the GST department cannot cancel a taxpayer’s registration in a single line.

GST News Updates | 08-12-2023

GST News for 8 December 2023:

1. Customs Duty and AIDC Removed on Import of Yellow Peas:

  • The Central Board of Indirect Taxes and Customs (CBIC) issued a notification removing customs duty and Additional Import Duty Countervailing Duty (AIDC) on the import of yellow peas, effective from December 8th, 2023.
  • This measure aims to improve the availability of yellow peas, a key ingredient in animal feed, and control the rising prices of poultry and eggs.

2. CBIC Announces Exchange Rates Effective December 8th:

  • The CBIC notified the exchange rates applicable for customs purposes for various currencies, effective December 8th, 2023.
  • These updated rates are crucial for calculating customs duty and other import-related charges.

3. Postponement of Electronic Cash Ledger under Customs:

  • The government postponed the applicability of the Electronic Cash Ledger (ECL) under customs for several deposits.
  • The ECL mandates the electronic maintenance of cash deposits used for customs duties and other charges.
  • The postponement aims to address industry concerns and provide additional time for implementation.

4. Gujarat High Court Rules Against Cryptic Show Cause Notices:

  • The Gujarat High Court ruled that the GST authorities violated natural justice principles by issuing a cryptic show cause notice to a taxpayer.
  • The court emphasized the need for clear and specific allegations in show cause notices to ensure fair opportunity for taxpayers to respond.

5. CESTAT Allows Exemption for External Hard Drives:

  • The Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled in favor of a taxpayer, allowing exemption for external hard drives under Notification 12/2012-CE, irrespective of whether they are removable or not.
  • This decision provides clarity and benefits businesses dealing with computer hardware.

6. Demand of Service Tax on Shipping Space Set Aside:

  • The CESTAT ruled against the demand of service tax on the procurement of space from shipping lines on a principal-to-principal basis.
  • This decision clarifies the tax treatment for such transactions and provides relief to businesses engaged in international trade.

7. Maruti Suzuki Recovers Rs 1.8 Crore GST Demand:

  • Maruti Suzuki received a favorable order from the GST department revoking its earlier demand of Rs 1.8 crore.
  • This positive development comes as a relief to the company and its investors.

GST News Updates | 07-12-2023

Although there weren’t any major announcements specific to December 7th, some relevant news emerged around that time:

1. MNCs challenge GST notices on services received from expats:

  • The Economic Times reported that several MNCs contested show-cause notices issued by the DGGI regarding GST on services received from expats.
  • The issue concerns whether secondment or deputation of expats attracts GST when the Indian company reimburses them.
  • Companies like Kawasaki Motors and Shinhan Bank challenged the department’s claim that such services qualify as “supply of manpower” and attract GST.

2. West Bengal Assembly passes bill to tax online gaming and gambling at 28% GST:

  • The West Bengal Assembly passed a bill imposing the highest GST rate of 28% on online gaming, horse racing, and casinos.
  • This decision aims to boost the state’s revenue by taxing these activities at the highest rate.

3. About 33,000 GST notices sent for discrepancies in returns:

  • Central tax officers sent around 33,000 notices to businesses for discrepancies in GST returns filed in FY18 and FY19.
  • These notices addressed under-reporting of income and short payment of taxes.

4. Government plans e-invoice mandate for B2C transactions:

  • An official revealed plans to make e-invoicing mandatory for B2C transactions within 2-3 years.
  • Currently, only businesses with a turnover of Rs 5 crore and above need to generate e-invoices for B2B transactions.

5. Maruti Suzuki receives favorable order in Rs 1.8 crore GST case:

  • The GST department revoked its earlier demand of Rs 1.8 crore against Maruti Suzuki, positively affecting the company’s stock price.


GST News Updates | 06-12-2023

  • Calcutta HC Grants Interim Relief to Delta Corp in Rs 6,384 Crore Tax Demand Case: The Calcutta High Court granted interim relief to Delta Corp’s subsidiary Deltatech Gaming Ltd in a Rs 6,384 crore GST demand case. This means the tax authorities cannot take any action against the company until the court hears the case further.
  • CBIC Sends Notices to 33,000 Taxpayers for Discrepancies in FY18-19 Returns: The Central Board of Indirect Taxes and Customs (CBIC) issued notices to around 33,000 taxpayers for discrepancies found in their GST returns filed for FY18 and FY19. This is part of a larger crackdown on tax evasion.
  • GST Appeals Surge with 3000 New Filings till 31st October 2023: The number of appeals against GST orders filed with the Appellate Authority for Advance Ruling (AAAR) has increased significantly, with nearly 3,000 new filings till October 31st, 2023. This indicates growing concerns among businesses about the interpretation and implementation of GST rules.
  • GSTN Achieves Seamless Integration with Account Aggregators: The GST Network (GSTN) successfully integrated with the Account Aggregator (AA) ecosystem, allowing taxpayers to easily share their financial information with GST authorities for verification and compliance purposes.
  • Simplification of Principal Place of Business Norms Proposed for MSMEs: The government is proposing to simplify the rules for determining the principal place of business for MSMEs under the GST regime. This could reduce compliance burden and administrative costs for small businesses.
  • 71 Show Cause Notices Sent to Online Gaming Firms, Unveiling GST Evasion of Rs 1.12 Lakh Crore: The Directorate General of GST Intelligence (DGGI) issued show cause notices to 71 online gaming companies for alleged GST evasion totaling Rs 1.12 lakh crore. This is a significant development in the government’s efforts to curb tax evasion in the online gaming industry.

GST News Updates | 05-12-2023

  • 21,791 Fake GST Registrations Detected: Finance Minister Nirmala Sitharaman announced that a special drive by GST officers identified 21,791 fake registrations, uncovering suspected tax evasion of over Rs 24,000 crore.
  • Mandatory 6-Digit HSN Code in E-Invoices: From December 15th, 2023, taxpayers with an Aggregate Annual Turnover (AATO) of Rs 5 crore and above must include a minimum of 6 digits of the HSN code in their e-invoices.
  • GSTN Advisory on HSN Code in GSTR-1: The GST Network (GSTN) issued an advisory on October 22nd, 2022, requiring taxpayers to report a minimum of 4 or 6 digits of the HSN code in their GSTR-1 returns.
  • Maharashtra GST Department Releases Board Copy: The Maharashtra GST department released its Board Copy for December 2023, containing information on MSTT categories, hearing schedules, and other relevant updates.
  • JSW Renewable Energy Wins GST Dispute Resolution: The Central Electricity Regulatory Commission (CERC) ruled in favor of JSW Renewable Energy in a dispute concerning GST charges on renewable energy projects.
  • India Pledges to Triple Global Renewable Energy: India joined 116 other countries in pledging to triple global renewable energy capacity by 2030 at the COP27 climate summit.

GST News Updates | 04-12-2023

GSTN implemented Two-factor Authentication on GST Portal from 01 Dec 2023:

The Goods and Services Tax Network (GSTN) has implemented Two-factor Authentication (2FA) for taxpayers to strengthen login security in the GST Portal. The pilot rollout has been done for a state of Haryana and working seamlessly. Currently, 2FA will be rolled out for Punjab, Chandigarh, Uttarakhand, Rajasthan and Delhi in the 1st phase. In the 2nd phase, it is planned to be rolled out all states across India.

GST Biometric Authentication and Document Verification in Andhra Pradesh from 4th Dec 2023:

The above-said functionality has been developed by GSTN. It was launched in Puducherry on 30th August 2023 & in Gujarat on 7th November 2023. It will be rolled out in Andhra Pradesh on 4th December, 2023 (Monday).

GST Officers to buy goods posing as customers to check possible tax evasion:

The Central Board of Indirect Taxes and Customs (CBIC) has directed GST officers to conduct surprise checks by purchasing goods posing as customers. The objective is to check possible tax evasion by traders and businesses. The CBIC has also directed officers to use their discretion while conducting such checks and avoid causing any inconvenience to the public.

Himachal Pradesh to verify ‘dicey’ GST registrations:

In a proactive move to secure the Goods and Services Tax (GST) system from fraudulent activities, the State Taxes & Excise Department has unveiled a comprehensive verification plan to identify and scrutinize ‘dicey’ GST registrations.

GST News Updates | 03-12-2023

GSTN extends deadline for filing GSTR-3B for November 2023 to December 15, 2023: The Goods and Services Tax Network (GSTN) has extended the deadline for filing GSTR-3B for November 2023 from December 7, 2023, to December 15, 2023. The extension has been granted due to technical glitches on the GST portal.

GSTN rolls out 2FA in Punjab, Chandigarh, Uttarakhand, Rajasthan, and Delhi: The Goods and Services Tax Network (GSTN) has rolled out two-factor authentication (2FA) for taxpayers in Punjab, Chandigarh, Uttarakhand, Rajasthan, and Delhi. This means that taxpayers in these states will now need to authenticate their logins using two factors, such as a password and a one-time code sent to their mobile phone.

GSTN issues advisory for filing GSTR-9 and GSTR-9C for FY 2022-23: The Goods and Services Tax Network (GSTN) has issued an advisory for filing GSTR-9 and GSTR-9C for the financial year 2022-23. The advisory provides taxpayers with information on the filing process, the due date for filing, and the penalties for late filing.

GSTN releases updated FAQs on GST Compensation Cess: The Goods and Services Tax Network (GSTN) has released updated frequently asked questions (FAQs) on GST Compensation Cess. The FAQs provide taxpayers with information on the eligibility criteria for claiming compensation cess, the calculation of compensation cess, and the procedure for claiming compensation cess.

GSTN launches new portal for GST grievance redressal: The Goods and Services Tax Network (GSTN) has launched a new portal for GST grievance redressal. The portal allows taxpayers to file their grievances electronically and track their progress.

GSTN extends deadline for filing GSTR-1, GSTR-5, and GSTR-8 for October 2023 to December 15, 2023: The Goods and Services Tax Network (GSTN) has extended the deadline for filing GSTR-1, GSTR-5, and GSTR-8 for October 2023 from November 30, 2023, to December 15, 2023. The extension has been granted due to technical glitches on the GST portal.

GSTN issues advisory for correction of GSTR-1 and GSTR-3B returns for October 2023: The Goods and Services Tax Network (GSTN) has issued an advisory for the correction of GSTR-1 and GSTR-3B returns for October 2023. Taxpayers can make corrections to their returns on the GST portal until December 15, 2023.

GSTN releases updated Frequently Asked Questions (FAQs) on GST Return Filing: The Goods and Services Tax Network (GSTN) has released updated Frequently Asked Questions (FAQs) on GST return filing. The FAQs provide taxpayers with information on the filing process, the due dates for filing, and the penalties for late filing.

GSTN issues advisory for taxpayers to withdraw their appeals filed before the Appellate Authority for Advance Rulings (AAAR) and the Appellate Tribunal, Central Excise, Customs and Service Tax (CESTAT): The Goods and Services Tax Network (GSTN) has issued an advisory for taxpayers to withdraw their appeals filed before the Appellate Authority for Advance Rulings (AAAR) and the Appellate Tribunal, Central Excise, Customs and Service Tax (CESTAT). The advisory provides taxpayers with information on the withdrawal process, the due date for withdrawal, and the penalties for late withdrawal.

GST News Updates | 02-12-2023

GSTN implements Two-factor Authentication for Taxpayers to strengthen login security in GST Portal

The Goods and Services Tax Network (GSTN) has implemented Two-factor Authentication (2FA) for taxpayers to strengthen login security in the GST Portal. The pilot rollout has been done for a state of Haryana and working seamlessly. Currently, 2FA will be rolled out for Punjab, Chandigarh, Uttarakhand, Rajasthan and Delhi in the first phase. In the second phase, it is planned to be rolled out all states across India.

GSTR-9 Table 8A ITC Computation Reflects Supplier Filings Until 30th Nov 2023

The GSTR-9 Annual Return Table 8A ITC Computation has been updated with supplier filings until November 30, 2023. This means that the ITC claimed in Table 8A of GSTR-9 is now based on the actual ITC availed by the supplier in GSTR-3B for the month of November 2023. This change will help taxpayers to accurately calculate their ITC and avoid any discrepancies.

CBIC Urged to Clarify GST on NBFCs’ Co-lending Models

The Federation of Indian Credit Co-operatives (FICCO) has urged the Central Board of Indirect Taxes and Customs (CBIC) to provide clarification on the Goods and Services Tax (GST) treatment of co-lending models adopted by non-banking financial companies (NBFCs). The federation has raised concerns about the potential for double taxation under the GST regime.

GSTN Issues Advisory for the Procedures and Provisions for Time Barred Appeals Amnesty Scheme

The Goods and Services Tax Network (GSTN) has issued an advisory for taxpayers who wish to avail of the amnesty scheme for time-barred appeals under GST. The scheme allows taxpayers to withdraw their appeals filed before the Appellate Authority for Advance Rulings (AAAR) and the Appellate Tribunal, Central Excise, Customs and Service Tax (CESTAT) without any penalty or interest.

GST Officers to Buy Goods Posing as Customers to Check Possible Tax Evasion

The Central Board of Indirect Taxes and Customs (CBIC) has directed GST officers to conduct surprise checks by purchasing goods posing as customers. The objective is to check possible tax evasion by traders and businesses. The CBIC has also directed officers to use their discretion while conducting such checks and avoid causing any inconvenience to the public.

Biometric Aadhaar Authentication Pilot Project Unveiled for GST Applicants in Andhra Pradesh

The GST Department of Andhra Pradesh has launched a pilot project to integrate biometric Aadhaar authentication for GST applicants. The project is aimed at streamlining the registration process and reducing fraud. Applicants will be required to provide their Aadhaar number and biometric information to register for a GSTIN. The data will be stored securely and only accessed for the purpose of verifying the identity of applicants.

GST Portal Unveils Mechanism for Appeals under GST Amnesty Scheme

The GST Portal has unveiled a mechanism for taxpayers to file appeals under the amnesty scheme for time-barred appeals under GST. The mechanism allows taxpayers to submit their appeals electronically and track their progress. The scheme is open to taxpayers who have filed appeals before the Appellate Authority for Advance Rulings (AAAR) and the Appellate Tribunal, Central Excise, Customs and Service Tax (CESTAT) on or before March 31, 2023.

GST News Updates | 01-12-2023

GST collections for November 2023 hit Rs 1.68 lakh crore; see highest growth rate of 15% YoY

The government has announced that GST collections for November 2023 hit Rs 1.68 lakh crore, registering a growth rate of 15% year-on-year (YoY). This is the highest growth rate in GST collections ever recorded. The previous highest growth rate was recorded in October 2023, when GST collections grew by 14% YoY.

The strong growth in GST collections is being attributed to the festive season, increased economic activity, and the government’s efforts to improve tax compliance.

GST mop-up rises 15% in Nov, crosses Rs 1.6 lakh cr mark for 6th time in FY24

The Economic Times has reported that GST mop-up rose 15% in November to reach Rs 1.67 lakh crore. This is the sixth time that the gross GST collection has crossed the Rs 1.60 lakh crore mark in FY 2023-24.

The Press Information Bureau (PIB) has announced that the GST revenue collection for November 2023 stood at ₹1,67929 lakh crore, recording the highest growth rate of 15% YoY.

The PIB also stated that the gross GST collection for the FY 2023-24 ending November 2023 is ₹13,32,440 crore, averaging ₹1.66 lakh per month. This is 11.9% higher than the gross GST collection for the FY 2022-23 ending November 2022 at ₹11,90,920 crore and averages ₹1.49 lakh crore per month.

GSTN issues advisory for procedures related to the amnesty scheme for appeals under GST

The Goods and Services Tax Network (GSTN) has issued an advisory for the procedures related to the amnesty scheme for appeals under GST. The scheme provides a one-time opportunity for taxpayers to withdraw their appeals filed before the Appellate Authority for Advance Rulings (AAAR) and the Appellate Tribunal, Central Excise, Customs and Service Tax (CESTAT).

Good news for advocates: New bill in winter session to appoint advocates as judicial members in GSTAT

The government is likely to introduce a bill in the winter session of Parliament to appoint advocates as judicial members in the GST Appellate Tribunal (GSTAT). This will help in reducing the backlog of cases in the tribunal.

GST News Updates | 30-11-2023

  • GSTN extends deadline for filing GSTR-1, GSTR-5, and GSTR-8 for October 2023: The Goods and Services Tax Network (GSTN) has extended the deadline for filing GSTR-1, GSTR-5, and GSTR-8 for October 2023 from November 30, 2023, to December 15, 2023. The extension has been granted due to technical glitches on the GST portal.

  • GST collections for November 2023 cross Rs 1.68 lakh crore: The gross GST collections for November 2023 have crossed Rs 1.68 lakh crore, marking a 15% increase from the same month last year. This is the highest growth rate recorded for any month since the implementation of GST in July 2017.

  • GSTN issues advisory for correction of GSTR-1 and GSTR-3B returns for October 2023: The Goods and Services Tax Network (GSTN) has issued an advisory for the correction of GSTR-1 and GSTR-3B returns for October 2023. Taxpayers can make corrections to their returns on the GST portal until December 15, 2023.

  • GSTN releases updated Frequently Asked Questions (FAQs) on GST Compensation Cess: The Goods and Services Tax Network (GSTN) has released updated Frequently Asked Questions (FAQs) on GST Compensation Cess. The FAQs provide information on the eligibility criteria for claiming compensation cess, the calculation of compensation cess, and the procedure for claiming compensation cess.

  • GST authorities conduct raids on businesses in Delhi: GST authorities conducted raids on several businesses in Delhi on November 30, 2023. The raids were conducted based on suspicion of tax evasion. The authorities seized documents and cash during the raids.

  • GST Council to discuss rate rationalization and other issues in December 2023 meeting: The GST Council is scheduled to meet in December 2023 to discuss rate rationalization, the inverted duty structure, and other issues related to GST.

GST News Updates | 29-11-2023

GSTN issues advisory for procedures related to the amnesty scheme for appeals under GST

The Goods and Services Tax Network (GSTN) has issued an advisory for the procedures related to the amnesty scheme for appeals under GST. The scheme provides a one-time opportunity for taxpayers to withdraw their appeals filed before the Appellate Authority for Advance Rulings (AAAR) and the Appellate Tribunal, Central Excise, Customs and Service Tax (CESTAT).

GST officers to buy goods posing as customers to check possible tax evasion

The Central Board of Indirect Taxes and Customs (CBIC) has directed GST officers to conduct surprise checks by purchasing goods posing as customers. The objective is to check possible tax evasion by traders and businesses.

GSTN warns against manual issue and upload of notices and orders by GST officers

The GST Network (GSTN) has warned GST officers against manually issuing and uploading notices and orders on the GST portal. The agency has advised officers to use the e-filing facility for these purposes.

GSTN releases GSTR-9 & 9C Comparison Manual for FY 2022-23 & FY 2021-22

The GST Network (GSTN) has released the GSTR-9 & 9C Comparison Manual for the financial years 2022-23 and 2021-22. The manual provides a detailed comparison of the two forms and helps taxpayers in filling them correctly.

Good news for advocates: New bill in winter session to appoint advocates as judicial members in GSTAT

The government is likely to introduce a bill in the winter session of Parliament to appoint advocates as judicial members in the GST Appellate Tribunal (GSTAT). This will help in reducing the backlog of cases in the tribunal.

Many small and mid-sized firms neglect e-invoicing rules in GST

According to a report by Taxmann, a large number of small and mid-sized firms are not complying with the e-invoicing rules under GST. The report found that only 20% of taxpayers had fully migrated to e-invoicing, while the remaining 80% were still using the old manual system.

GSTN to launch new online portal for GST grievance redressal

The GST Network (GSTN) is planning to launch a new online portal for GST grievance redressal. The portal will allow taxpayers to file their grievances electronically and track their progress.

GST News Updates | 28-11-2023

Here are some of the top GST news headlines from November 28, 2023:

GST collections for November 2023 hit Rs 1.68 lakh crore; see highest growth rate of 15% YoY

The government has announced that GST collections for November 2023 hit Rs 1.68 lakh crore, registering a growth rate of 15% year-on-year (YoY). This is the highest growth rate in GST collections ever recorded. The previous highest growth rate was recorded in October 2023, when GST collections grew by 14% YoY.

The strong growth in GST collections is being attributed to the festive season, increased economic activity, and the government’s efforts to improve tax compliance.

Govt to release Rs 37,878 crore to CGST and Rs 31,557 crore to SGST from IGST

The government has announced that it will release Rs 37,878 crore to the Central Goods and Services Tax (CGST) and Rs 31,557 crore to the State Goods and Services Tax (SGST) from the Integrated Goods and Services Tax (IGST). This will bring the total revenue of the Centre and the states in the month of November to Rs 68,297 crore for CGST and Rs 69,783 crore for SGST.

The release of funds from the IGST will help the Centre and the states meet their financial obligations.

GST collection at Rs 1,67,929 lakh crore in November 2023, highest growth of 15% y-o-y

The government has announced that GST collection in November 2023 stood at Rs 1,67,929 lakh crore, marking a growth of 15% year-on-year (y-o-y). This is the highest growth rate recorded in any month since the implementation of GST in July 2017.

The strong growth in GST collection is being attributed to the festive season, increased economic activity, and the government’s efforts to improve tax compliance.

GST revenue collection for November 2023, at ₹1,67929 lakh crore records highest growth rate of 15% YoY

The Press Information Bureau (PIB) has announced that the GST revenue collection for November 2023 stood at ₹1,67929 lakh crore, recording the highest growth rate of 15% YoY.

The PIB also stated that the gross GST collection for the FY 2023-24 ending November 2023 is ₹13,32,440 crore, averaging ₹1.66 lakh per month. This is 11.9% higher than the gross GST collection for the FY 2022-23 ending November 2022 at ₹11,90,920 crore and averages ₹1.49 lakh crore per month.

GST mop-up rises 15% in Nov, crosses Rs 1.6 lakh cr mark for 6th time in FY24

The Economic Times has reported that GST mop-up rose 15% in November to reach Rs 1.67 lakh crore. This is the sixth time that the gross GST collection has crossed the Rs 1.60 lakh crore mark in FY 2023-24.

GST News Updates | 27-11-2023

Here are some of the top GST news headlines from November 27, 2023:

  • Centre Gears Up to Strengthen Online Gaming Rules Amid Growing Betting Concerns: The government is set to strengthen online gaming regulations in India to address concerns over money laundering and offshore betting. The Group of Ministers (GoM) on online gaming is expected to finalize its recommendations soon, which could include stricter licensing norms, mandatory KYC verification, and a ban on betting and wagering.

  • FM Sitharaman Dismisses Kerala’s Fund Allocation Negligence Charge on GST Compensation Cess: Union Finance Minister Nirmala Sitharaman has dismissed Kerala’s allegations that the central government has been negligent in allocating funds under the GST Compensation Cess. She said that the central government has released all the funds due to Kerala under the cess and that the state government has not been able to utilize the funds properly.

  • GST Officials Conduct Raid At Businessman’s House in Talcher: GST officials conducted a raid at the residence of a businessman in Talcher, Odisha, on November 27, 2023. The raid was conducted based on suspicion of tax evasion. The officials seized documents and cash during the raid.

  • Himachal Pradesh to verify ‘dicey’ GST registrations: In a proactive move to secure the Goods and Services Tax (GST) system from fraudulent activities, the State Taxes & Excise Department has unveiled a comprehensive verification plan to identify and scrutinize ‘dicey’ GST registrations.

GST News Updates | 26-11-2023

Here are some of the top GST news headlines from November 26, 2023:

  • GST Portal Services Unavailable Until November 26, 2023, at 11 AM: The GST Portal Services were unavailable from 8:00 PM on November 25, 2023, until 11:00 AM on November 26, 2023, due to a major upgrade activity. The upgrade was intended to enhance the services available on the portal.

  • GST Collections for November 2023: State Wise Break-up of GST Collections in November 2023: The gross GST collection for November 2023 stood at Rs. 1,68,297 crore, marking a 15% increase from the same month last year. The highest growth was seen in the domestic revenue (including import of services), which grew by 20%.

  • GST Collections for November 2023 Hit Rs 1.68 Lakh Crore; See Highest Growth Rate of 15% YoY: The Goods and Services Tax (GST) collections for November 2023 hit Rs 1.68 lakh crore, registering the highest growth rate of 15% year-on-year (YoY). This is the sixth consecutive month in FY24 that GST collections have crossed Rs 1.60 lakh crore.

  • Summary of Latest GST Changes Effective from 1st Oct 2023: The Ministry of Finance has notified several changes to the GST rules and regulations effective from October 1, 2023. These changes include new penalty provisions for e-commerce operators, limitations on filing belated GST returns, and changes to the GSTN portal.

GST News Updates | 25-11-2023

GST Council Decisions

 

  • The 48th GST Council meeting took place on November 23, 2023, and was chaired by Union Finance Minister Nirmala Sitharaman.
  • The Council discussed and approved several important decisions, including:
  • The extension of the deadline for filing GSTR-9 and GSTR-9C for FY 2019-20 to December 31, 2023.
  • The waiver of the penalty imposed on non-compliance of dynamic QR code provisions for B2C invoices between February 1, 2023, and March 31, 2023, provided the eligible registered person complies with these provisions from April 1, 2023.
  • The extension of the due date to file ITC-04 for the period October-November 2023 to December 31, 2023.
  • The notification of the due dates for filing GSTR-1 for the periods January 2023 to March 2023 for monthly return filers:

     

    • January 2023 – April 13, 2023
    • February 2023 – May 10, 2023
    • March 2023 – June 10, 2023

Notifications and Orders

 

  • The Central Board of Indirect Taxes and Customs (CBIC) has issued a notification seeking to waive the penalty imposed on non-compliance of dynamic QR code provisions for B2C invoices between February 1, 2023, and March 31, 2023, provided the eligible registered person complies with these provisions from April 1, 2023.
  • The CBIC has also issued a notification extending the deadline for filing GSTR-9 and GSTR-9C for FY 2019-20 to December 31, 2023.
  • The CBIC has issued a circular prescribing the manner and procedure for filing of refund applications by unregistered persons in certain circumstances.
  • The CBIC has issued an instruction prescribing the manner for processing and sanction of IGST refunds, which were withheld on account of exporters being flagged as risky on the basis of risk parameters and data analytics.

Other Updates

 

  • The CBIC has made available a new functionality on the GST common portal which allows unregistered persons to take a temporary registration and apply for a refund.
  • The CBIC has amended the CGST Rules, 2017 to do away with the requirement of the presence of the applicant for the physical verification of business premises and also to provide for physical verification in high-risk cases even where the applicant has not been selected for physical verification.

Some other important GST news items from November 25, 2023:

 

  • The CBIC has launched a new online portal for taxpayers to track their GST refunds.
  • The CBIC has also issued a notification clarifying the procedure for filing GST returns for businesses that have opted for the composition scheme.
  • The GST Appellate Tribunal has ruled that the input tax credit (ITC) on goods used for construction of a residential dwelling is not available if the dwelling is not used for taxable purposes.

 

GST News Updates | 24-11-2023

  • Reduced GST rate on footwear: The GST Council has reduced the GST rate on footwear from 18% to 5% with effect from November 24, 2023. This decision is expected to provide relief to the footwear industry and consumers.

  • Updated 23 E-Brochures under GST: The Central Board of Indirect Taxes & Customs (“CBIC”), Department of Revenue, Ministry of Finance has released an updated 23 E-Brochures under GST as on November 2023. These brochures provide information on various GST topics, such as registration, filing of returns, input tax credit, and refunds.

  • Special procedure for unregistered persons supplying goods through ECOs: The CBIC has notified a special procedure to be followed by electronic commerce operators (ECOs) in respect of supplies of goods through them by unregistered persons. This procedure is aimed at simplifying the GST compliance for unregistered persons selling goods online.

  • Waiver of registration for certain suppliers of goods through ECOs: The CBIC has waived the requirement of mandatory registration under section 24(ix) of the CGST Act for persons supplying goods through ECOs, subject to certain conditions. This waiver is expected to benefit small suppliers who sell goods through online marketplaces.

  • Appointment of common adjudicating authority: The CBIC has appointed a common adjudicating authority in respect of show cause notices in favor of or against M/s BSH Household Appliances Manufacturing Pvt Ltd. This appointment is aimed at streamlining the GST adjudication process.

  • Notification of “Account Aggregator”: The CBIC has notified “Account Aggregator” as the systems with which information may be shared by the common portal under section 158A of the CGST Act, 2017. Account aggregators are entities that collect and provide financial information to individuals and businesses.

  • Exemption from filing annual return for certain taxpayers: The CBIC has exempted registered persons whose aggregate turnover in the financial year 2022-23 is up to two crore rupees, from filing annual return for the said financial year. This exemption is expected to reduce the compliance burden on small taxpayers.

  • Special procedure for manufacturers of certain goods: The CBIC has notified a special procedure to be followed by a registered person engaged in manufacturing of certain goods. This procedure is aimed at simplifying the GST compliance for manufacturers of these goods.

GST News Updates | 23-11-2023

  • CBIC releases updated 23 E-Brochures under GST as on November 2023: The Central Board of Indirect Taxes & Customs (“CBIC”), Department of Revenue, Ministry of Finance has released an updated 23 E-Brochures under GST as on November 2023. These brochures provide information on various aspects of GST, such as registration, filing returns, payment of taxes, and refunds.

  • Important GST Dates and GST Calendar 2023-24: The due date to file the GSTR-4 return for FY 2022-23 is 30th April 2023. The due date to file the GSTR-9 & GSTR-9C for FY 2019-20 has been extended up to 28th February 2021.

  • GST Changes by Budget 2023: The Finance Bill 2023 has proposed several changes to the GST laws. These changes include:

    • Penalty on e-commerce operators if they allow composite dealers selling their goods outside state
    • Language correction to section 16(2) of CGST Act
    • Removal of restriction of 30 days for filing revocation of cancellation of GST Registration

  • GST Updates for the Month of November 2023: The following are some of the important GST updates for the month of November 2023:

    • A new penalty clause has been inserted in Budget 2023 to penalize the e-commerce operators, if they allow composite dealers selling their goods outside state.
    • There has been a language correction to section 16(2) of CGST Act.
    • The restriction of 30 days for filing revocation of cancellation of GST Registration has been removed.

GST News Updates | 22-11-2023

  1. Extension of Due Dates for GSTR-3B and CMP-08 Filing: The due date for filing GSTR-3B for the period October – November 2023 has been extended to December 25, 2023. Additionally, the due date for filing CMP-08 for the quarter October – December 2023 has been extended to December 31, 2023.

  2. Release of Updated E-Brochures: The Central Board of Indirect Taxes and Customs (CBIC) has released updated versions of 23 E-Brochures under GST. These brochures provide comprehensive information on various aspects of GST, including registration, returns, refunds, and penalties.

  3. Amendments to Form GST DRC-22: The CBIC has amended Form GST DRC-22, which is used to notify the attachment of movable or immovable property in case of non-payment of GST dues. The amendments include the addition of details of interest and late fee payable and paid.

  4. Extension of Concessional Late Fee for GSTR-9, GSTR-9A, and GSTR-9C Filing: The concessional late fee for filing GSTR-9, GSTR-9A, and GSTR-9C for FY 2021-22 has been extended to December 25, 2023. This applies to taxpayers with a turnover of up to Rs.5 crore.

  5. Release of CBIC Circular on GST Refunds for Unregistered Persons: The CBIC has issued Circular no. 188/20/2022-GST, which provides guidance on the filing of refund applications by unregistered persons in certain circumstances. The circular also specifies the manner and procedure for processing and sanction of such refund applications.

GST News Updates | 21-11-2023

  1. GST Officer Conducts Search at Colgate-Palmolive Warehouse in Chennai, Rs 1 Lakh Penalty Imposed: The State Goods and Services Tax Officer (GST Officer) in Chennai conducted a search at the warehouse of FMCG giant Colgate-Palmolive (India) Ltd. on November 16-17, 2023, and imposed a penalty of Rs 1 lakh for “minor non-compliance”. The company stated that the penalty was levied under Section 125 of the Central Goods and Services Tax (CGST) Act and the State Goods and Services Tax (SGST) Act, and it was not related to any suppression or willful misstatement. The company’s business operations continued as usual, and it cooperated fully with the department. The impact of the search on the company’s finances, operations, or other activities is still being assessed pending formal notices.

  2. Helmet Manufacturers Demand Lowering of GST to 5%: Helmet manufacturers in India have requested the government to reduce the Goods and Services Tax (GST) rate on helmets from 18% to 5%. They argue that this would boost demand and encourage more people to wear helmets, leading to reduced road accidents and deaths. The Federation of Indian Motorcycle Accessory Manufacturers (FIMAM) has also supported the demand, stating that a lower GST rate would make helmets more affordable and accessible to a wider range of consumers.

  3. Centre Plans to Appoint Advocates as Judicial Members in GST Appellate Tribunal Benches: The central government is considering appointing advocates as judicial members in the benches of the Goods and Services Tax (GST) Appellate Tribunal. This move is aimed at strengthening the tribunal and ensuring that it has the expertise to handle complex legal matters. The appointments would require amendments to the GST Act and the Tribunals Reforms Act.

  4. Notice To Be Served On Legal Representative In Case Of Demise Of Proprietor – Allahabad High Court: The Allahabad High Court has ruled that in the case of the demise of a proprietor of a firm, a notice for issuance of a GST registration certificate can be served on the legal representative of the deceased proprietor. The court held that the legal representative has the right to represent the deceased proprietor and can apply for the registration certificate on behalf of the firm.

  5. GST Net Widens for Real Estate Firms: The scope of the Goods and Services Tax (GST) has been expanded to include more real estate transactions. This means that developers, builders, and contractors will now have to register for GST and charge GST on their services. The move is expected to increase the tax revenue generated from the real estate sector.

GST News Updates | 20-11-2023

2-factor authentication is mandatory for taxpayers above Rs. 20 crores

Starting from November 20, 2023, it became mandatory for taxpayers with an Annual Aggregate Turnover (AATO) of Rs 20 crore or more to use two-factor authentication (2FA) when accessing the GST e-invoice system. This is a security measure that is being implemented to protect taxpayers’ accounts from unauthorized access.

GST collections in October 2023 hit second highest ever of ₹1.72 lakh crore

GST collections in October 2023 hit the second highest ever of ₹1.72 lakh crore, indicating a strong rebound in economic activity after the slowdown caused by the COVID-19 pandemic.

The GST Council made several changes to the GST rules in November 2023. These changes included:

  • Inserting an additional condition for credit of input tax charged on input services in the same line of business in excess of the tax paid or payable at the rate of 2.5%
  • Substituting the words “licensing a” for the words “totalisator or a license to”
  • Amending the GST DRC-22 form to include details of interest as well as late fee details

These changes were made to simplify the GST regime and make it more taxpayer-friendly.

GST News Updates | 19-11-2023

GST Council Suggests to Increase GST Rate on Pan Masala and Tobacco Products

The GST Council has suggested increasing the GST rate on pan masala and tobacco products from 18% to 28%. The Council has also suggested increasing the GST rate on betel nut from 5% to 18%. These suggestions are aimed at discouraging the consumption of these harmful products.

GST Council Seeks to Extend 5% GST Rate on Hotel Rooms

The GST Council is considering extending the 5% GST rate on hotel rooms with a tariff of less than Rs 1,000 per night. The current 5% GST rate on these rooms is set to expire on March 31, 2024.

GST Council to Review GST Rate on E-cigarettes

The GST Council is considering reviewing the GST rate on e-cigarettes. The current GST rate on e-cigarettes is 28%, but there is a demand to increase it to 40%.

GST Council to Discuss GST Compensation to States

The GST Council is scheduled to discuss the issue of GST compensation to states at its next meeting. The compensation is paid to states to compensate them for the revenue loss they incurred due to the implementation of GST.

GST Council to Meet in December

The next meeting of the GST Council is scheduled to be held in December. At the meeting, the Council is expected to finalize the GST rate increases on pan masala and tobacco products, as well as the extension of the 5% GST rate on hotel rooms.

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GST News Updates | 18-11-2023

CBIC Notifies Biometric-Based Aadhaar Authentication for GST Registration in Andhra Pradesh

The Central Board of Indirect Taxes and Customs (CBIC) has notified biometric-based Aadhaar authentication for GST registration in the State of Andhra Pradesh. This means that new GST applicants in Andhra Pradesh will be required to undergo Aadhaar authentication as part of the registration process.

GST Appellate Tribunals to Face Tsunami of Appeals Worth ₹1 Lakh Crore

The Goods and Services Tax (GST) Council is likely to face a tsunami of appeals worth ₹1 lakh crore as businesses challenge the decisions of tax authorities. The Council is in the process of setting up GST Appellate Tribunals to adjudicate on these appeals.

Bills for GST Appellate Tribunals, Spending Likely in Winter Session

The government is likely to introduce bills for setting up GST Appellate Tribunals in the upcoming winter session of Parliament. The setting up of these tribunals is expected to expedite the settlement of GST-related disputes.

GST Council Deliberating on Recommendations of GoM on GST Appellate Tribunals

The GST Council is deliberating on the recommendations of a Group of Ministers (GoM) on setting up GST Appellate Tribunals. The GoM has recommended that the tribunals should be set up at the zonal level and that they should have a quasi-judicial status.

GST Refund u/s 54 – Order Fails to Consider Materials Submitted by Petitioner – Revenue Counsel Seeks Withdrawal of Order with Liberty to Issue Fresh SCN and Pass Reasoned Order – Allowed Accordingly: HC

The Bombay High Court has allowed a petition filed by a taxpayer against an order passed by the GST authorities denying a refund under section 54 of the CGST Act. The High Court held that the GST authorities had failed to consider the materials submitted by the petitioner and had not passed a reasoned order.

I-T – AO Shall Pass Speaking Order u/s 148A in Accordance with Law after Giving Opportunity of Hearing to Assessee or His Authorised Representative and after Considering Reply to Notice u/s 148A(b): HC

The Income Tax Appellate Tribunal (ITAT) has held that the Assessing Officer (AO) shall pass a speaking order under section 148A of the Income Tax Act after giving an opportunity of hearing to the assessee or his authorized representative and after considering the reply to notice under section 148A(b).

I-T- As per Settled Position in Law, Deduction on Employee’s Contribution to PF & ESI is Not Allowed Where Contribution Payment is Made after Due Dates Prescribed in Respective Acts: ITAT

The ITAT has held that as per the settled position in law, deduction on an employee’s contribution to the Provident Fund (PF) and Employees’ State Insurance (ESI) is not allowed where the contribution payment is made after the due dates prescribed in the respective Acts.

GST News Updates | 17-11-2023

CBIC Notifies Biometric-Based Aadhaar Authentication for GST Registration in Andhra Pradesh

The Central Board of Indirect Taxes and Customs (CBIC) has notified biometric-based Aadhaar authentication for GST registration in the State of Andhra Pradesh. This means that new GST applicants in Andhra Pradesh will be required to undergo Aadhaar authentication as part of the registration process.

GSTN Issued Comprehensive Guide and Instructions for Direct API Integration with Any of the 6 IRPs for E-Invoice Reporting

The GSTN vide Advisory No. 615 dated November 17, 2023 issued a comprehensive Guide and Instructions for Direct API Integration with Any of the 6 IRPs for E-Invoice Reporting.

GST Collections Rise 13% YoY to Rs 1.72 Lakh Cr in October; Second Highest After April

GST collections rose 13% year-on-year to Rs 1.72 lakh crore in October, the second highest after April. The collections were also higher by 7% compared to the pre-pandemic level of October 2019.

GST News Updates | 16-11-2023

CBIC Releases Updated 23 E-Brochures Under GST as on November 2023

The Central Board of Indirect Taxes & Customs (“CBIC”), Department of Revenue, Ministry of Finance has released an updated 23 E-Brochures under GST as on November 2023. These E-Brochures are designed to provide a comprehensive overview of the GST regime for taxpayers and other stakeholders. The updated E-Brochures cover a wide range of topics, including registration, filing of returns, payment of tax, and input tax credit.

GST Council to Review GST Rate on E-cigarettes

The GST Council is considering reviewing the GST rate on e-cigarettes. The current GST rate on e-cigarettes is 28%, but there is a demand to increase it to 40%. The Council is likely to take a decision on the matter in the upcoming months.

GST Council to Discuss GST Compensation to States

The GST Council is scheduled to discuss the issue of GST compensation to states at its next meeting. The compensation is paid to states to compensate them for the revenue loss they incurred due to the implementation of GST. The Council is likely to take a decision on the matter in the upcoming months.

GST Council to Meet in December

The next meeting of the GST Council is scheduled to be held in December. At the meeting, the Council is expected to discuss a number of important issues, including the review of GST rates, the extension of the 5% GST rate on hotel rooms, and the setting up of GST Appellate Tribunals.

GST News Updates | 15-11-2023

CBIC issues advisory on ITC mismatch Compliance – GST DRC-01C

The Central Board of Indirect Taxes and Customs (CBIC) has issued an advisory on Input Tax Credit (ITC) mismatch compliance. The advisory states that taxpayers are required to reverse the ITC availed on invoices or debit notes the details of which have been furnished by their supplier in their GSTR-1/IFF but the return in FORM GSTR-3B for the said period has not been furnished by their supplier till the 30th day of September following the end of the financial year in which the Input Tax Credit in respect of such invoice or debit note had been availed.

GSTN Advisory on amnesty scheme for filing time-barred appeals

The GSTN has issued an advisory on the amnesty scheme for filing time-barred appeals. The advisory states that taxpayers can file time-barred appeals under the amnesty scheme without payment of any penalty or interest. The scheme is open till December 31, 2023.

Amendment in Bill of Entry after Out of Charge: Govt Advisory

The Government has issued an advisory on the amendment in Bill of Entry (B/E) after Out of Charge (OOC). The advisory states that taxpayers can amend the B/E even after OOC, if the amendment is necessary for correcting errors or omissions.

Two Factor Authentication to be mandatory from 20th November 2023 for taxpayers above Rs.20 crores

The GSTN has announced that Two Factor Authentication (2FA) will be mandatory from 20th November 2023 for taxpayers above Rs.20 crores. 2FA is an additional security measure that helps to protect taxpayer accounts from unauthorized access.