Major GST Updates Key GST Changes Effective from November 1, 2024

Major GST Updates: Key GST Changes Effective from November 1, 2024

On November 1, 2024, significant changes to the Indian GST system took effect. These updates focus on simplifying tax compliance, increasing transparency, and providing relief to taxpayers. Here’s a breakdown of the key changes that can help businesses stay compliant and avoid penalties. Overview of Key GST Changes for Businesses The government’s recent GST updates […]

New Three-Year Limit for GST Return Filing What You Need to Know

New Three-Year Limit for GST Returns Filing: What You Need to Know

Introduction The Finance Act, 2023, has introduced a new rule that limits the time taxpayers have to file their GST returns. Starting from October 1, 2023, taxpayers must file their returns within three years from the due date. This blog will explain this change, its impact, and the steps you should take to stay compliant. […]

Advisory on Waiver Scheme Under Section 128A of the CGST Act

Advisory on Waiver Scheme Under Section 128A of the CGST Act

The GST Council’s recent decision to waive interest and penalties under Section 128A of the CGST Act, 2017, offers welcome relief for many taxpayers. Announced at the Council’s 53rd meeting on June 22, 2024, the waiver applies to cases where no fraud is involved, helping reduce tax disputes and simplifying compliance. Key Points About the […]

C:\Users\BAPS\RMPS & Co\RMPS Contents - RMPS GST\Pooja\GST\Form GST DRC-03A A Guide for Taxpayers to Ensure Accurate Payment Adjustment

Form GST DRC-03A: A Guide for Taxpayers to Ensure Accurate Payment Adjustment

The Goods and Services Tax (GST) system recently introduced Form GST DRC-03A to help taxpayers link their demand payments accurately to outstanding demand orders. This update addresses issues where payments made via Form GST DRC-03 do not close the demand in the electronic liability register. This blog provides a step-by-step guide to using Form DRC-03A, […]

Understanding the Waiver of Interest and Penalty under Section 128A of the CGST Act

Understanding the Waiver of Interest and Penalty under Section 128A of the CGST Act

On October 15, 2024, the Indian government introduced Circular No. 238/32/2024-GST. This circular explains Section 128A of the CGST Act, 2017, which aims to help businesses reduce their tax burden. By using this waiver, businesses can avoid penalties and interest charges on specific tax demands. However, to take full advantage, businesses must meet certain conditions […]

Important Advisory for GSTR-99C Key Changes Starting FY 2023-24

Important Advisory for GSTR-9/9C: Key Changes Starting FY 2023-24

As of October 15, 2024, important changes have been made to the GSTR-9 and GSTR-9C forms for the financial year 2023-24. These changes are meant to make the filing process easier and help taxpayers report Input Tax Credit (ITC) more accurately. Automatic ITC Population in GSTR-9 One major update is the automatic filling of eligible […]