Clarification on Implementation of 16(5)/(6), CGST Act, 2017
The CBIC issued clarifications on implementing Sections 16(5) and 16(6) of the CGST Act, which retrospectively extend the time limits for claiming ITC from 01.07.2017
Clarification of Various Doubts Related to Section 128A of CGST Act, 2017
The CBIC issued clarifications on the waiver of interest or penalties under Section 128A of the CGST Act, introduced by Finance Act (No. 2), 2024.
GSTN Enhances Return Filing with Pre-filled GSTR-3B, Amendments, and IMS Tools
The GST Portal now auto-populates tax liability from GSTR-1/ GSTR-1A/ IFF and Input Tax Credit (ITC) from GSTR-2B
Income-tax (Ninth Amendment) Rules, 2024: Key Changes and Implications
The Income-tax (Ninth Amendment) Rules, 2024 make changes to two critical rules—Rule 31AA, Rule 37-I and Form 27EQ
No TCS on Payments from RBI
The notification specifies that no TCS will be collected under section 206C (1F) on any payment received from the RBI
Advisory on Invoice Management System (IMS)
Invoice Management System (IMS) is made available to taxpayers from 14th October, 2024.
Advisory by GST for GSTR-9 and GSTR-9C
GST system is equipped to auto-populate eligible ITC for domestic supplies (excluding reverse charge and imports ITC) from table 3(I) of GSTR-2B to table 8A of GSTR-9.
Compliance by Businesses dealing with Metal Scrap
Deduction and Deposit of TDS under Section 51 of GST Act, 2017
Amendment in Earlier Notification Regarding Reverse Charge on Specified Goods Under Section 5(3)
This amendment introduces a new S. No. 8 in the notification’s table, specifying that metal scrap falling under chapters 72 to 81 can now be supplied by any unregistered person to any registered person
Amendment in Earlier Notification Regarding CGST Rate Schedule Effective from 10.10.2024
The Ministry of Finance has issued Notification No. 05/2024-Central Tax (Rate), effective from October 10, 2024
