The 54th GST Council meeting, held recently, brought several significant changes aimed at simplifying the Goods and Services Tax (GST) regime, making it more industry-friendly, and addressing specific sectoral needs. With continuous efforts to refine the GST system, the council’s decisions span various industries, from healthcare to transportation and metal scrap trading. Here’s a detailed […]

Attention is invited to the Instruction No. 01/2023-GST dated 04.05.2023 vide which guidelines were issued for conducting a special All-India drive during the period from 16th May 2023 to 15th July 2023 (which was further extended till 14th August 2023), for verification and detection of suspicious/ fake registrations and for taking timely remedial action to

The Government, vide notification No. 12/2024 – Central Tax dated 10.07.2024, has introduced FORM GSTR-1A as an optional form/facility. This is provided to taxpayers to add or amend particulars of a supply of the current tax period, which was missed out or wrongly reported in FORM GSTR-1 of the said tax period, before filing the

There are various provisions of Tax Deduction at Source (TDS) with different thresholds and multiple rates between 0.1%, 1%, 2%, 5%, 10%, 20%, 30% and above. To improve ease of doing business and better compliance by taxpayers, the TDS rates are proposed to be reduced. However, no change would occur with respect to sections such

The new GST Return Form GSTR-1A will soon be available on the GST portal. This form allows taxpayers to make changes, corrections, and amendments to the data filled in GSTR-1 for the same month before filing GSTR-3B of that month or quarter. This new form has been notified through an amendment in Rule 59, which