New GST Circular 226/2024: Mechanism for IGST Refund on Export Price Revisions

Introduction The Central Board of Indirect Taxes and Customs (CBIC) has issued Circular No. 226/2024-GST, dated July 11, 2024. This introduces a new mechanism for exporters to claim refunds on the additional Integrated Goods and Services Tax (IGST) paid following an upward revision in the prices of goods post-export. Overview of the New Mechanism Filing […]

Simplifying GST Refund Process for Canteen Stores Department A Step-by-Step Guide

Simplifying GST Refund Process for Canteen Stores Department: A Step-by-Step Guide

Navigating through the GST refund process can often be complex, especially for entities like the Canteen Stores Department (CSD). The recent Circular No. 227/21/2024-GST aims to streamline this process by introducing a new electronic submission method. This blog will guide you through the updated procedure, ensuring a smooth and efficient refund claim experience. Understanding the […]

Ensuring Compliance with GST Recovery of Outstanding Dues

Ensuring Compliance with GST: Recovery of Outstanding Dues

Navigating the Goods and Services Tax (GST) landscape can be challenging for businesses. Recently, the Central Board of Indirect Taxes and Customs (CBIC) issued Circular No. 224/18/2024. This circular provides crucial guidelines on recovering outstanding dues when the first appeal has been resolved, and the GST Appellate Tribunal is not yet operational. Understanding the Context […]

Understanding-the-Recent-Clarifications-on-Input-Tax-Credit-ITC-under-RCM

Understanding the Recent Clarifications on Input Tax Credit (ITC) under RCM

The Central Board of Indirect Taxes and Customs (CBIC) issued Circular No. 211/5/2024-GST on June 26, 2024. This circular provides essential clarifications regarding the time limit for availing Input Tax Credit (ITC) under the Reverse Charge Mechanism (RCM). This blog covers all the key points from the circular and its implications for businesses. Key Points […]

Important Update: GST Document Upload Size Increased to 500 KB

We are excited to share a significant GST update for all taxpayers regarding the upload of documents for GST registration and amendment. In response to feedback and grievances from the trade community, changes have been made to the size limits for uploading documents related to the Principal Place of Business and Additional Place of Business. […]

Clarification on Input Tax Credit for Optical Fiber Cable Network Components

The Ministry of Finance recently issued a crucial circular. This circular clarifies the availability of Input Tax Credit (ITC) for ducts and manholes used in optical fiber cable (OFC) networks. This update is essential for the telecommunications sector. It aims to ensure uniform implementation of the law and to prevent unnecessary litigation. Background The Cellular […]

Enhancements to Address-Related Fields in GST Registration Functionalities

The Goods and Services Tax Network (GSTN) has introduced several enhancements to address-related fields in the GST registration functionalities. These changes aim to improve the GST registration process for taxpayers by incorporating user feedback and analyzing tickets. Here are the details of these enhancements: 1. Update in Validations for Address Fields a. Address is in […]

GST Reconciliation Made Easy Compliance Tips for Businesses

GST Reconciliation Made Easy: Compliance Tips for Businesses

Introduction Navigating the complexities of Goods and Services Tax (GST) compliance can be a daunting task for businesses of all sizes. Ensuring accurate GST reconciliation is essential for maintaining compliance and avoiding penalties. This blog will outline the key aspects of GST reconciliation and provide a comprehensive GST compliance checklist to help businesses streamline their […]