31 Aug 2023 05:36 PM
New

Advisory on Reporting of ITC Reversal opening Balance

Source: https://taxguru.in/goods-and-service-tax/advisory-reporting-itc-reversal-opening-balance.html

Please read the following advisory carefully before proceeding ahead for reporting the ITC Reversal opening balance:

30 Aug 2023 05:14 PM
New

G20 Summit: ‘We should address the question of debt distress,’ says Nirmala Sitharaman

Source: https://www.livemint.com/news/india/g20-summit-finance-minister-debt-distress-gst-cryptocurrency-nirmala-sitharaman-banks-11693358613871.html

As India is holding its presidency for the G20 Summit, Union Finance Minister Nirmala Sitharaman said that India given the consideration of things and developments across the world, addressing the question of debt distress is a must.

30 Aug 2023 05:22 PM
New

Advisory for Applicants: Biometric-based Aadhaar Authentication for GST Registration

Source: https://taxguru.in/goods-and-service-tax/biometric-based-aadhaar-authentication-gst-registration.html

Introduction: The Goods and Services Tax Network (GSTN) has issued a significant advisory to GST (Goods and Services Tax) applicants regarding the Aadhaar authentication process for registration. The advisory outlines the new biometric-based Aadhaar authentication process and its pilot implementation details.

30 Aug 2023 05:58 PM

Solutions for ITC Mismatch in the GST Regime

Source: https://taxguru.in/goods-and-service-tax/solutions-itc-mismatch-gst-regime.html

Introduction

The Goods and Services Tax (GST) regime, now in its seventh year, has undergone various evolutions. Despite its extended tenure, practical challenges like the ITC mismatch persist, affecting both professionals and the business community. Let’s delve deeper into this pressing issue.

28 Aug 2023 05:57 PM

Rahul Gandhi's chocolate-making endeavor at Ooty factory | Watch

Source: https://www.livemint.com/politics/rahul-gandhis-chocolate-making-endeavor-at-ooty-factory-watch-11693156409711.html

Congress MP Rahul Gandhi visited a chocolate-making factory in Ooty and spoke about GST

28 Aug 2023 06:03 PM

Illegal ITC Availment Arrest: CGST Navi Mumbai Cracks Down

Source: https://taxguru.in/goods-and-service-tax/illegal-itc-availment-arrest-cgst-navi-mumbai-cracks-down.html

Introduction: In a significant move against tax evasion, CGST Navi Mumbai apprehended a proprietor/key person involved in illicitly availing and utilizing counterfeit Input Tax Credit (ITC) amounting to Rs. 5.01 Crores. The fraudulent scheme revolved around bogus invoices worth Rs. 30 Crores, leading to a substantial loss in tax revenue. This article delves into the arrest, the investigation, legal implications, and the broader context of such anti-evasion efforts.

28 Aug 2023 06:07 PM

CGST Navi Mumbai Cracks Down on Rs 5 Crore ITC Fraud

Source: https://taxguru.in/goods-and-service-tax/cgst-navi-mumbai-cracks-rs-5-crore-itc-fraud.html

On August 25, 2023, CGST Navi Mumbai undertook a significant operation leading to the arrest of the proprietor and key personnel from six firms. They are charged with availing, utilizing, and passing on fabricated Input Tax Credit (ITC), all orchestrated through counterfeit invoices.

25 Aug 2023 05:43 PM

Pros & Cons of GST Billing Software

Source: https://www.livemint.com/brand-stories/pros-cons-of-gst-billing-software-11688565955993.html

GST billing software has become a cornerstone in the financial landscape, transforming how businesses manage invoicing, taxation, and compliance processes. As with any technology, there are both advantages and disadvantages associated with using GST billing software. This article comprehensively explores the pros and cons to understand its impact on businesses.

25 Aug 2023 05:47 PM

Zee mired in legal disputes in run-up to merger with Sony

Source: https://www.livemint.com/companies/zee-mired-in-legal-disputes-in-run-up-to-merger-with-sony-11692901441552.html

MUMBAI : Even as Zee Entertainment Enterprises Ltd (ZEEL) founder Subhash Chandra and his son Punit Goenka await clean chit from the market regulator over financial irregularities in the media house, the company itself is entangled in a series of legal disputes, including tax claims, regulatory filings showed.

25 Aug 2023 05:53 PM

Amnesty Schemes 2023: Revive Your Registration and Clear Late Fees

Source: https://taxguru.in/goods-and-service-tax/amnesty-schemes-2023-revive-your-registration-and-clear-late-fees.html

Introduction: The year 2023 brings a ray of hope for taxpayers with the extension of multiple tax amnesty schemes. These schemes offer a chance to rectify past non-compliance and clear late fees. Let’s delve into the details of these schemes and the benefits they bring.