India’s GST revenue for November 2024 recorded a significant growth of 8.5% compared to November 2023, reaching a total of ₹1,82,269 crore. This steady rise underscores robust economic activity and improved compliance under the indirect tax regime Key Highlights of November 2024 GST Revenue Gross Revenue: CGST: ₹34,141 crore (up …
The Kerala GST Department, through Circular No. 21/2024-Kerala SGST issued on November 18, 2024, has introduced a revised framework for adjudicating show cause notices (SCNs) under the Kerala SGST Act, 2017. This update aims to streamline the adjudication process, ensuring consistency and efficiency in handling SCNs. Adjudication …
Kerala’s houseboat owners facing uncertainty as the GST office demands 18% GST from houseboat owners with a retrospective effect from 2017, causing uncertainty for owners in Alappuzha, Kochi, and Kumarakom Houseboat owners have been paying 5% GST based on Central GST office assurance since 2017. A …
The upcoming GST Council meeting in Rajasthan on December 21-22, 2024, may bring potential tax relief for insurance policyholders. According to a report, the Council is expected to evaluate proposals to eliminate the 18% GST on term and health insurance premiums, particularly targeting relief for senior …
India recorded significant growth in its Goods and Services Tax (GST) collections for October 2024, showcasing a strong economic momentum. According to the latest data, the total gross GST revenue surged to ₹1,87,346 crore, marking an 8.9% increase from October 2023. Year-to-date (YTD) collections have reached …
The Goods and Services Tax (GST) framework has introduced new guidelines regarding the handling of records on the Invoice Matching System (IMS) dashboard, aiming to improve clarity and streamline the GSTR-2B reconciliation process. Key Highlights of the New Guidelines Deemed Acceptance: Any IMS record where no …
In a bold move advocating for mental health affordability and transparency, 17-year-old Delhi student Anvi Kumar, founder of The Mind Canvas and a student at The Shriram School Aravali, Gurgaon, has filed a Public Interest Litigation (PIL) with the Supreme Court of India. The petition challenges …
Chief Justice of India (CJI) D Y Chandrachud emphasized the significance of cooperative federalism in the governance of India, calling the introduction of the Goods and Services Tax (GST) a “classical example” of this system. Speaking at an inaugural annual lecture series on “Understanding Federalism and Its …
Barring of GST Return on expiry of three years As per the Finance Act,2023 (8 of 2023), dt. 31-03-2023, implemented w.e.f 01-10-2023 vide Notification No. 28/2023 – Central Tax dated 31st July, 2023, the taxpayers shall not be allowed file their GST returns after the expiry …
In a landmark decision, the Ministry of Finance has issued a clarification regarding the Goods and Services Tax (GST) applicable to film distribution before October 2021, providing significant relief to the Indian film industry. This long-awaited announcement addresses years of uncertainty faced by production houses, distributors, …
