Latest update 29.09.2024

A. Update

1. GST Portal downtime 29.09.24: GST Portal services will not be available until 29th Sep’24 07:30 AM

B. Article

Whether issuance of notice in Form ASMT-10 is mandatory before issuing SCN u/s 73/74?

by CA Ritesh Arora

No, the Honorable Madras High Court in the case of Mandarina Apartment Owners Welfare Association (MAOWA) set aside the assessment order stating that a close examination of sections 61 and 73 shows that scrutiny of returns and issuance of notice in form ASMT-10 do not constitute essential steps for adjudication.

C. Tax in Media

GoM for GST cut on educational items, hike for high-value apparel

The Group of Ministers (GoM) on GST rate rationalisation is understood to be in favour of reducing the tax rate on many items including ”education materials” to 5% from 12% to provide relief to large sections of people.

GST relief: No need to pay interest and penalty on GST tax demand; conditional waiver from November 1, 2024

The Ministry of Finance has notified various sections including 128A of the Goods and Services (GST) Act with effect from November 1, 2024.

Finance ministry’s pre-Budget meetings to commence from October 10

The finance ministry will commence from October 10 its pre-Budget meetings with review of six ministries and departments, including new & renewable energy and skill development & entrepreneurship.

Webinar Videos Watch here

Follow us at Twitter

Support us contribute

Subscribe Newsletter