Addition of Goods and Services Tax Network (GSTN) under Prevention of Money-laundering Act
The scope of the PML Act to include GSTN through Notification F. No. P.12011/2/2009-ES Cell-DOR, has expanded. By bringing GSTN within the ambit of the PML Act, the government seeks to strengthen the existing framework for combating money laundering and illicit activities related to GST. The inclusion of GSTN enables the ED, a specialized financial […]
Geocoding Functionality Now Live for All States and Union Territories
GSTN is pleased to inform that the functionality for geocoding the principal place of business address is now live for all States and Union territories. This feature, which converts an address or description of a location into geographic coordinates, has been introduced to ensure the accuracy of address details in GSTN records and streamline the […]
CGST Delhi West Commissionerate busts nexus of more than 30 fake firms and arrests a person in special drive against fake registrations
The CGST Delhi West Commissionerate under CGST Delhi Zone, upon analysis of an entity under investigation as part of Special Drive against fake registrations, found multiple entities registered on the same address wherein the said address was found existent during verification but the owner of the said premises denied any knowledge about existence of any […]
Online Compliance Pertaining to Liability / Difference Appearing in R1 – R3B (DRC-01B)
GSTN has developed a functionality to enable the taxpayer to explain the difference in GSTR-1 & 3B return online as directed by the GST Council. This feature is now live on the GST portal. The functionality compares the liability declared in GSTR-1/IFF with the liability paid in GSTR-3B/3BQ for each return period. If the declared […]
GST Registration Guidelines: Strengthening the process of verification of applications
Introduction: To address problem of fake registration and fake input tax credit action on a mission mode by Central and State tax authorities in the form of a Special All-India Drive against fake registrations. In this context, it is further felt that verification of applications for registration by the proper officers is one of the […]
2- Factor Authentication for e-Way Bill and e-Invoice System
To enhance the security of e-Way Bill/e-Invoice System, NIC is introducing 2- Factor Authentication for logging in to e-Way Bill/e-Invoice system. In addition to username and password, OTP will also be authenticated for login.There are 3 different ways of receiving the OTP. You may enter any of the OTP and login to system. The various […]
Entitled to take ITC on Work Contract Services availed for construction Services
The Hon’ble Tripura High Court in M/s. SR Constructions v. The Union of India and Ors. held that the assesses is entitled to take Input Tax Credit (“ITC”) on taxable work contract services availed for the supply of construction of an immovable property. SUMMARY OF CASE LAW RELEVANT PROVISION FOR THE CASE Section 17(5)(c) of the […]
Calcutta High Court Rules Cash-Credit Facility Not Provisionally Attachable in GST
In the case of J. L. Enterprises v. Assistant Commissioner, State Tax [W.P.A. No. 12132 of 2023 dated May 25, 2023], the Hon’ble Calcutta High Court delivered a significant judgment regarding the attachability of cash-credit facilities in Goods and Services Tax (GST) cases. The court held that cash-credit facilities are not considered as debts and, […]
CBIC issues circular for Pre-import Condition & Implications on IGST & Compensation Cess
The Central Board of Indirect Taxes and Customs (CBIC) has notified guidelines on the pre-import condition in the Advance Authorization Scheme (AAS) pursuant to a Supreme Court decision. The Supreme Court has upheld the requirement of the pre-import condition to claim IGST and GST compensation cess on imports made under the AAS. The Gujarat High […]
NEW FEATURES IN E-Waybill System for the Enrolled Transporters & Common Enrolled Taxpayers
The e-Waybill Portal has introduced new features to enhance convenience for transporters and taxpayers. Transporters who no longer wish to be part of the e-waybill system can now de-register themselves, ensuring that their Transporter ID cannot be used in e-waybills. Additionally, taxpayers who have opted for common enrollment but want to cancel it can now […]