Latest update 07.09.2024
A. Amendment
Bihar GST Notification – Facilitation Centre and corresponding address for Biometric-based Aadhaar authentication
Bihar GST dept. issued Notification Date 4 September 2024 to notify the Facilitation Centres and corresponding address for the purpose of biometric based Aadhaar authentication, taking photograph of the applicant and verification of original copy of documents uploaded with the application of registration:
Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Bihar, Delhi, Karnataka and Punjab
This is to inform taxpayers about recent developments concerning the application process for GST registration. It is advised to keep the following key points in mind during the registration process.
B. Article
Bail may be conditionally granted in cases of fraudulent ITC availment through fake invoices
by CA Bimal Jain
The Hon’ble Allahabad High Court in M/s. Pradip Kumar Jain allowed bail to the Assessee, considering nature of offense, punishment, lack of evidence regarding creation of fake firms, and period of jail stay, the Assessee made out case for bail. The bail was granted subject to conditions including non-tampering with evidence and appearing before trial court.
Hostel accommodations are exempt from GST purview
by CA Bimal Jain
The Maharashtra AAR, in the matter of In re., M/s Maharashtra Jain Education Society ruled that hostel accommodations for a duration of 10 months to both old and new students are eligible for exemption
C. Tax in Media
Many states warry of lower GST on health, life covers
As the GST Council readies to discuss lower levies on health and life insurance on Monday, states are seen to be reluctant to agree to cut tax, fearing significant revenue loss, particularly on medical covers.
GST relief on health insurance: Council likely to take up 4 options
The Goods and Services Tax (GST) Council in its meeting on Monday is likely to decide on four options regarding tax treatment of health insurance, with the cost to the exchequer potentially ranging from nearly Rs 650 crore to Rs 3,500 crore.
GST Council may propose scheme to write off recovery of past tax dues on Extra Neutral Alcohol
In a significant move for the spirits industry, GST Council could propose a scheme enabling central and state tax authorities to write off the recovery of past tax dues on Extra Neutral Alcohol (ENA), potentially offering much-needed relief to the sector.
New GST return filing rules to help streamline process, increase transparency, better traceability by govt, say experts
The three changes announced in the GST return filing rules, per the recent notification, will help streamline the tax filing process for taxpayers, increase transparency and also better traceability for the government, said experts.
Income tax: Scores of taxpayers get I-T notices under section 148..
Some income taxpayers have reportedly received notices under section 148, which is related to the reopening of assessments for the assessment years 2014-15, 2015-16, 2016-17 and 2017-18.
Income tax refund delayed? These taxpayers won’t get refund unless they confirm it on ITR Portal
While you may have filed your income tax return (ITR) and verified it also, it may not be sufficient to ensure that you get your tax refund on time as it may depend on many other factors.
Shah Rukh, Salman, Vijay in highest celebrity taxpayers list: Fortune India
Bollywood superstar Shah Rukh Khan topped the list of celebrity taxpayers with advance tax payment of Rs 92 crore in 2023-24, followed by Tamil actor ‘Thalapathy’ Vijay at a distant second, according to a list compiled by Fortune India Magazine.
Joe Biden’s son Hunter pleads guilty in $1.4 million tax evasion case
Hunter Biden, son of U.S. President Joe Biden, pleaded guilty to federal tax charges on Thursday, a surprise move that avoids a potentially embarrassing trial weeks before the U.S. presidential election.
EPS pensioners will be able to get pension from any bank or branch from January 1, 2025
EPS pensioners will be able to get their pensions from any bank, branch, or location in India from January 1, 2025.
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