- 19 Apr 2025 05:34 PM
- New
Penalise officers demanding unnecessary documents for GST registration: CBIC
The apex authority for indirect taxes issues instructions to reduce the compliance burden on taxpayers
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- 19 Apr 2025 05:38 PM
- New
GST rate rationalisation: Is there a second wind coming?
The Indian government is contemplating Goods and Services Tax (GST) rate rationalisation, aiming to simplify the existing four-slab structure. While discussions involve consolidating rates and potentially eliminating the 12% slab, challenges persist in balancing revenue collection and minimising the tax burden on essential goods.
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- 19 Apr 2025 05:27 PM
- New
‘Completely false, misleading…’: Modi govt denies levying GST on UPI transactions above THIS amount
GST on UPI payments? Denying media reports that the government is considering levying a tax on UPI transactions over ₹2,000, the finance ministry said they are completely false, misleading, and without any basis.
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- 18 Apr 2025 05:58 PM
ICICI Prudential receives ₹3.67 crore tax order from GST authorities
ICICI Prudential Life Insurance on Friday said it has received an order from GST Commissioner (Appeals) upholding tax demand of about ₹3.67 crore.
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- 18 Apr 2025 05:55 PM
GST on UPI transactions over ₹2,000? Here’s what you need to know
GST on UPI payments: GST on UPI transactions over ₹2,000? Here's what you need to know
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- 18 Apr 2025 05:52 PM
Service charge returns as menu price hike, diners fear double hit
The ban on service charge won’t make eating out cheaper — leading restaurant chains are looking to raise prices to compensate for the loss. Some customers feel the final charges may be even higher than before, including tips for the waiting staff.
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- 16 Apr 2025 06:19 PM
Ajay Bhushan Pandey joins AIIB as Vice President
Ajay Bhushan Pandey has been appointed as vice president of investment solutions at the Asian Infrastructure Investment Bank. He will oversee various departments and is based in Beijing. Pandey, a former finance secretary, played a key role in India's financial reforms and digital initiatives.
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- 15 Apr 2025 06:23 PM
Betting ads mushroom in regulatory grey zone
Banned betting sites are piggybacking on popular platforms again, as India's taxmen and regulators play whack-a-mole with shady operators from distant shores.
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- 15 Apr 2025 06:29 PM
GSTN Implements Phase-III Changes to Table-12 of GSTR-1 & 1A from April 2025
Summary: The GST Network (GSTN) has introduced Phase-III changes to Table-12 of GSTR-1 and GSTR-1A to enhance HSN-wise summary reporting and minimize errors in GST filings. Starting from the February 2025 return period (April 2025 onward), the key changes include mandatory dropdown selection for HSN codes, with no manual entry allowed. Taxpayers must now select HSN codes from a predefined list, with descriptions auto-populated for consistency. Additionally, Table-12 has been split into two distinct tabs: one for B2B (business-to-business) supplies and another for B2C (business-to-consumer) supplies, requiring separate HSN reporting for each. To further ensure accuracy, an auto-validation feature has been introduced (currently in warning mode), checking the consistency of HSN totals against other GSTR-1 tables. While mismatches will only trigger alerts, they will not block return filing. Other improvements include the ability to download the full HSN list and enhanced search features for faster reporting. These changes are mandatory for businesses with annual turnover over ₹5 crore, requiring 6-digit HSN codes. Business owners and tax consultants are advised to update their accounting software, train staff on new reporting requirements, and ensure alignment with the GSTN HSN dropdown list. As the system evolves, future phases (Phase-IV) will likely enforce mandatory validations, so early preparation is key to ensure smooth compliance.
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- 15 Apr 2025 06:20 PM
Jaipur resort files FIR against OYO after getting ₹2.66 crore ‘wrong’ GST notice - Report
The FIR was filed on basis of a complaint by Madan Jain at the Ashok Nagar police station of Jaipur. Jain, who is associated with Samskara Resorts, said his hotel was served a show cause notice of ₹2.66 crore from the GST (Goods and Service Tax) office.
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