Latest update 29.11.2024

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A. Amendment

Notification no. 28/2024 – Central Tax dated 27.11.2024

CBIC issued Notification no. 28/2024 – Central Tax dated 27.11.2024 seeking to appoint common adjudicating authority for Show cause notices issued by DGGI

Rule 8 of the CGST Rules, 2017 provides that an applicant can be identified on the common portal, based on data analysis and risk parameters for Biometric-based Aadhaar Authentication and taking a photograph of the applicant along with the verification of the original copy of the documents uploaded with the application. The said functionality has been developed by GSTN. It has been rolled out in Madhya Pradesh on 27th November 2024.

The GST and Customs Pavilion by the Central Board of Indirect Taxes and Customs (CBIC) has been awarded the Bronze Medal for its exceptional contribution to Public Communication and Outreach at the India International Trade Fair (IITF) 2024. This recognition underscores the CBIC’s Pavilion’s unwavering commitment to promoting taxpayer awareness and ensuring seamless information dissemination.

CBDT issued notification no. 122/2024 dated 27.11.2024 the Central Government hereby notifies the transfer of capital asset from NLC India Limited (“NLCIL”), being transferor public sector company, to NLC India Renewables Ltd (“NIRL”), being transferee public sector company, under the plan approved by the Central Government on 1st day of August, 2024, for the purposes of clause (viiaf) of section 47 of the Income-tax Act, 1961 (43 of 1961)

The central government has clarified that it is completely optional for taxpayers to get the new PAN 2.0 if they already have a valid Permanent Account Number (PAN). However, if you happen to find that you have a duplicate PAN then do not panic, immediately surrender it to avoid violating the law. Having said that, if you are not sure whether you have a duplicate PAN issued using your documents, then it might be a good idea to check right now. This is because the government has made clear its intention of removing duplicate PANs from the system and of using technology to catch offenders.

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B. Notes/PPT

PPT-Filing of Annual GST Returns An Overview

Directorate General of Taxpayer Services (DGTS), Central Board of Indirect Taxes & Customs Bengaluru Zonal Unit conducted a session on topic “Filing of Annual GST Returns An Overview”.

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C. Tax in Media

LIC appeals GST demand of ₹104.90 crore for FY20

Life Insurance Corporation of India (LIC) said it has filed an appeal before the GST Appellate Authority, Tamil Nadu, against an Order demanding GST of ₹104.90 crore for FY 2019-20.

The petroleum and natural gas ministry has recommended the inclusion of natural gas in the goods and services tax (GST) framework to the finance ministry, an official aware of the development said on Thursday.

Employees must activate their Universal Account Number (UAN) and link Aadhaar to their bank accounts by November 30, 2024 to be eligible for the Employment Linked Incentive (ELI) scheme.

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