A. Portal Update
Advisory on difference in value of Table 8A and 8C of Annual Returns FY 23-24
As per the Notification No 12/2024 Central Tax dated 10th July 2024 read with Notification No.20/2024-Central Tax Dated 8th October 2024, for FY 2023-24 onwards, the total credit available for inwards supplies shall be auto-populated in the table 8A of Form GSTR 9 from GSTR-2B of the FY 23-24. Further, in table 8C of Form GSTR-9 total value of ITC on inwards supplies received during the FY but availed in next FY up to specified period, need to be filled manually.
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
Negative blocking is within the scope of provisions of Rule 86A of the CGST Rules
by CA Bimal Jain
The Hon’ble Madras High Court in the case of Tvl. Shanthaguru Innovations Private Limited v. Commercial Tax Officer & Ors. [Writ Petition No. 29872 of 2024 dated November 28, 2024] dismissed the case and held that the negative blocking is well within the scope of provisions of Rule 86A of the Central Goods and Service Tax Rules, 2017 (“the CGST Rules”).
C. Tax in Media
Apparel industry slams proposed GST hike
The apparel industry has expressed serious concerns over the proposed GST rate hike recommended by the Group of Ministers (GoM) on rate rationalisation. Under the new tax structure, garments priced between Rs 1,500 and Rs 10,000 would be taxed at 18 per cent, while apparel above Rs 10,000 would fall under the highest GST slab of 28 per cent. The rate for apparel priced up to Rs 1,500 would remain at 5 per cent.
RSS farmers group demands removal of GST on agriculture equipment and inputs
The Bharatiya Kisan Sangh (BKS) has demanded that the Union government completely remove the Goods and Services Tax (GST) on agricultural equipment and inputs, it said in a statement on Saturday (December 7, 2024). Other items on the RSS-affiliated farmers group’s Budget 2025 wishlist include a hike in the payout under the PM Kisan Samman Nidhi, and a higher allocation for agricultural research and rural development.
66% businesses in India paid bribes to govt officials in last 12 months, claims survey
It seems bribery remains a way of life in India when wanting to get work done at government departments.
GST’s Impact on the Beedi Industry – Seeking a Balanced Approach
GST’s Impact on the Beedi Industry – Seeking a Balanced Approach : The Goods and Services Tax (GST) has deeply impacted the traditional beedi industry, a cornerstone of rural livelihoods in India. Classified under the highest tax slab of 28% since GST’s implementation in 2017, beedis now face significant cost pressures, disrupting a sector that sustains over four million workers, most of whom are women in economically vulnerable regions. This high tax rate has strained small-scale manufacturers, increased production costs, and led to reduced earnings for workers, many of whom rely on piece-rate wages.
More than 60 suspicious GST registration cases flagged
More than 60 suspicious cases of fresh Goods and Services Tax (GST) registrations in Indore district were identified by the system in little over a week and were directed to the newly established biometric-based Aadhar authentication suvidha kendra for in-person verification of the applicant, a mechanism designed to eliminate fraudulent registrations.
Rajasthan set to pioneer faceless GST tax administration
Rajasthan is set to become the first state in the country to implement a system for faceless/ randomised tax administration. The finance department’s new initiative will enable automated scrutiny of tax returns for all 5.50 lakh GST taxpayers, covering 100% of the category.
Chhattisgarh businessman booked for threatening GST officer, claims government influence
A businessman in Chhattisgarh was booked for threatening a woman GST department officer, claiming he had the power to influence the govt. His premises were also searched by the department as he tried to mislead the officer.
Women Income Tax Filers Rise By 25% In India Since AY 2019-20, Maharashtra Has Highest Share
A total of 1.83 crore women in India filed their Income Tax returns in the assessment year 2019-20 and this number has increased by 25 per cent to 2.29 crore women in AY 2023-24, official data analysed by News18 shows.
Defaults under EPFO hit all-time high, rise 69.3%
Defaults under the Employees’ Provident Fund Organisation (EPFO) surged to an all -time high of ₹25,820.88 crore at the end of 2023-24, up 69.3% from ₹15,254.06 crore a year ago, showed official data.
Tax contribution of petroleum sector set to drop rapidly in FY 2024-25
Sluggish collection of excise duty from petroleum and natural gas — even before the windfall tax regime got scrapped in December — shows that the sector’s overall tax contribution to the public exchequer is likely to drop significantly in FY25, said officials.
See Webinar
Videos Watch here
Follow us at Twitter
Support us contribute
Subscribe Newsletter
Share this content:
