Latest update 28.09.2024

Latest update daily post, latest update Admin 28/09/2024 0 Comments

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A. Amendment

Notification no. 17/2024 – Central Tax dated 28.09.2024

MGST-Notification-Waiving off requirement of e-way bill for motor vehicles for road testing

The Commissioner of State Tax, Maharashtra issued Notification on 12.09.2024 granting permission to M/s. Tata Motors Passenger Vehicles Limited, having principal place of business at Chikhali Road, Chikhali, Pune, Maharashtra 410 501 to waive the requirement of e-way bill for motor vehicles to perform various road tests across India, subject to the condition that he execute a bond sufficient to cover the value of the motor vehicle being cleared.

Notification No. 44/2024-Customs dated 27.09.2024 issued seeking to amend Export Duty on Certain Varieties of rice

Notification No. 63/2024-Customs (N.T.) dated 26.09.2024

CBIC issued Notification no. 63 -customs N.T. dated 26.09.2024 regarding Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Notification No.16/2024-Customs (ADD) dated 27.09.2024

Seeks to impose anti-dumping duty on imports of “Anodized Aluminium Frames for Solar Panels/Modules” originating in or exported from China PR.

Notification No.17/2024-Customs (ADD) dated 27.09.2024

Seeks to impose definitive anti dumping duty on the imports of “Isobutylene-Isoprene Rubber (‘IIR’)” originating in..

B. Article

IMS – Accept, reject and keep invoice on hold

VALIDITY OF GST NOTICES/ORDERS WITHOUT DIGITAL SIGNATURE

Recently GSTN has issued advisory on 25th September 2024 on the Validity of documents issued by the tax officers on the common portal. In this context, this article is set to examine the position of law, relevant provisions & rules and various court decisions on this matter, to throw more light on this matter comprehensively.

A Single Show Cause Notice cannot be issued for multiple tax periods

The Hon’ble High Court of Karnataka in the case of M/s Veremax Technologies Services Limited held that single SCN cannot be issued for multiple tax periods because particular action must be completed within a designated year, and that same is consolidated in section 73(10) of the CGST Act that prescribes a specific time limit for furnishing annual return for the Financial Year to which the tax due relates.

C. Tax in Media

GoM not in favour of GST relief to real estate sector

Most members in the Group of Ministers (GoM) of the Goods and Services Tax (GST) Council are not in favour of any relief to the real estate sector with regard to the tax incidence on collaborative ventures between developers and land owners.

SpiceJet shares rise as airline clears all GST dues after raising Rs 3k cr via QIP

“SpiceJet has cleared all its Goods and Services Tax (GST) dues, demonstrating its commitment to maintaining financial discipline and regulatory compliance,” said the airline in a statement.

Have you taken a backup? Old GST data to be archived from GST portal after September 30, 2024

The Goods and Services Tax Network (GSTN) announced two days ago that after September 30, 2024, taxpayers will no longer be able to access GST return data older than seven years on the GST portal. GSTN, in an advisory, said that the 2017 September data is being archived and removed from the portal.

Retailers Fear Festive Sales Disruption Due To 1 Oct IMS Rollout, Seek Delay

The Goods and Services Tax Network (GSTN) is set to introduce the Invoice Management System (IMS) from 1 October 2024, aimed at streamlining the input tax credit (ITC) process.

6 income tax rules that will before the Union Budget meetings commence

The finance ministry will be initiating its pre-Budget meetings from October 10 which will continue till November 11, reviewing six ministries and departments, including new & renewable energy and skill development & entrepreneursip.

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