New GST rule from April 1, 2025: ISD mandatory for input tax credit; not following will lead to ITR denial, minimum penalty of Rs 10,000
The government has made the ISD mechanism mandatory, effective April 1, 2025. This means that the distribution of common ...
RetailBiz22h
Does my business need to register for GST?
Businesses with a turnover of less than $75,000 are given the choice of registering for GST because if a business is spending ...
Tax Guru12d
Search and Seizure: GST vs. Income Tax Key Differences
Key Difference: GST searches are business-centric, focusing on transactional compliance, while Income Tax searches are more intrusive, aiming at personal and undisclosed income. Governed by Section 67 ...
GST-ITC fraud cases surged 41%, amount detected jumped 28% in Apr-Jan over full FY24
Increase in ITC fraud cases and amount detected in current fiscal, with measures taken to prevent tax evasion.
Govt may ease norms to allow 2-month window for ITC on credit notes
In a major relief to goods and services tax (GST) payers, the government is likely to amend Central GST (CGST) Rules, allowing recipients of goods and services up to two months to accept or reject a ...
LiveLaw1d
Proceedings U/S 129 Of GST Act Are Summary Proceedings, Burden To Prove Actual Movement Of Goods Lies On Assesee: Allahabad High Court
The Allahabad High Court has held that proceedings under section 129 of the GST Act are summary proceedings where the burden ...
Kashmir Life2d
GST Officials Recover Rs 6.31 Lakh from Traders Transporting Battery Scrap Illegally
SRINAGAR: The Jammu and Kashmir State Taxes Department has detected a Goods and Services Tax (GST) evasion of Rs 6.31 lakh in ...
Press Trust of India on MSN9d
Congress pushes for ‘GST 2.0,’ calls for radical tax reform beyond mere rate cuts
Congress general secretary in-charge communications Jairam Ramesh said his party had envisaged a GST 2.0 -- a truly Good and ...