Electronic Credit Reversal and Reclaimed statement
GST Portal GSTN issued an advisory on 31.08.2023 introducing ‘Electronic Credit Reversal and Reclaimed Statement’ in the GST Portal. The…
Month: November 2023
GST DAILY – 124
Refund of unutilised ITC is permissible even if there are multiple inputs and output supplies
GST DAILY – 123
CBIC has been Notified the Amnesty Scheme for filing appeals against demand orders in specific cases
Serving of the summary of notice in DRC-01 and uploading of summary of order in DRC-07 – reg.
CBIC has issued an Instruction on ‘Serving of the summary of notice in FORM GST DRC-01 and uploading of summary…
Industry renews its demand for overhaul of taxes on capital gains
With the interim Budget to be presented in February, industry bodies and tax experts are learnt to have approached the government for…
Fake invoice scam busted in Bengaluru after tax officials raid scrap dealers
An Input Tax Credit (ITC) scam making use of bogus invoices was busted by the Karnataka Commercial Taxes Department. According…
Govt looking at simplified GST processes for e-commerce, travel industries to ease compliance
The central government is working on a simplified Goods and Services Tax (GST) regime for services industries, including e-commerce and travel, which…
Punjab govt gets Rs 3,670 cr of GST compensation after it lodged new claim
Punjab Finance Minister Harpal Singh Cheema on Tuesday informed the House that the state government has received Rs 3,670 crore…
FM Reassures Global Firms Of Certainty in GST Regime
Finance Minister Nirmala Sitharaman assured on Monday that the GST regime is transitioning from ambiguity to clarity on certain matters,…