Category: Indirect Tax

Staying informed about GST updates is essential for businesses. Recently, the government introduced important updates to Form GSTR-9 and GSTR-9C for the Financial Year 2023-24 through Notification No. 12/2024 – C.T. dated 10.07.2024. These changes aim to simplify the reporting process and enhance accuracy. 1. New Entries in GSTR-9 The GSTR-9 form now includes new […]

The Goods and Services Tax Network (GSTN) has introduced a new update that makes paying GST easier for taxpayers. Starting August 6th, 2024, taxpayers in 17 states and Union Territories (UTs) can now pay their GST using Unified Payments Interface (UPI) and Debit/Credit cards. This change is part of GSTN’s ongoing effort to simplify the […]

Introduction Staying compliant with GST regulations is crucial for every registered taxpayer. Keeping your bank details up-to-date on the GST portal is a vital part of this process. Recently, a new feature has been introduced on the GST portal that allows registered taxpayers to update their bank account details quickly and efficiently. This guide will […]

The Central Board of Indirect Taxes and Customs (CBIC) has recently issued Instruction No. 03/2024-GST. This new guideline, dated 14th August 2024, impacts how GST audit are conducted in India. It focuses on maintaining uniformity and caution during audits, especially when there are different interpretations of the CGST Act. Key Takeaways from Instruction No. 03/2024-GST […]

Introduction Filing accurate GST returns is essential for every business. Recently, the GST portal introduced the GSTR-1A feature, making it easier to amend your outward supplies for the current tax period. This blog will explain what GSTR-1A is, why it’s important, and how you can use it effectively. What is GSTR-1A? GSTR-1A is a tool […]

The Central Board of Indirect Taxes and Customs (CBIC) has recently issued Guidelines for the Second Special All-India Drive Against Fake Registrations as per Instruction No. 02/2024 dated 12th August 2024. This initiative, running from 16th August 2024 to 30th September 2024, aims to practices in the GST ecosystem and strengthen the integrity of the […]

In an effort to reduce compliance burdens on small businesses, the Government of India has issued a significant update under the GST regime. On July 10, 2024, the Ministry of Finance released Notification No. 14/2024 – Central Tax, which provides much-needed relief by exempting small enterprises from filing annual GST returns for the financial year […]

The Indian government recently issued Notification No. 12/2024 – Central Tax. This notification introduces changes to the Central Goods and Services Tax (CGST) Rules, 2017. These updates, effective from July 10, 2024, are important for businesses to understand. By knowing these changes, companies can stay compliant and make the most of their tax strategies. Let’s […]

GST Taxpayers Must Register as ISD for Common ITC Distribution Introduction Starting April 1, 2025, GST taxpayers registered in multiple states must register as Input Service Distributors (ISD) to distribute common Input Tax Credit (ITC). This requirement, outlined in Notification No. 16/2024 – Central Tax and The Finance Act, 2024, aims to streamline ITC distribution […]