Monthly Archives: December 2024

Recommendations of the 55th Meeting of the GST Council GST Council recommends reduction in GST rate on Fortified Rice Kernel (FRK), classifiable under 1904, to 5% GST council also recommends to fully exempt GST on gene therapy GST Council recommends exemption of GST on contributions by general insurance companies from third-party motor vehicle premiums for… Read More »

Advisory for Entry of RR No./eT-RRs in EWB system Post EWB-FOIS Integration Dec 18th, 2024 Subject: Guidance for Accurate Entry of RR No./eT-RRs following the Integration of E-Way Bill (EWB) with Freight Operation Information System (FOIS) system of Indian Railways. Dear Taxpayers, This advisory is being issued to inform you that the FOIS of Indian Railways has now… Read More »

Key Updates: Multi-Factor Authentication (MFA): Mandatory MFA rollout in phases: From 1st January 2025: Taxpayers with AATO exceeding ₹20 Crores. From 1st February 2025: Taxpayers with AATO exceeding ₹5 Crores. From 1st April 2025: All taxpayers and users. Encouragement to activate MFA immediately for secure and uninterrupted access. Restricting the Period for E-Way Bill (EWB)… Read More »

Advisory on Updates to E-Way Bill and E-Invoice Systems Dec 17th, 2024 GSTN is pleased to announce that NIC will be rolling out updated versions of the E-Way Bill and E-Invoice Systems effective from 1st January 2025. These updates are aimed at enhancing the security of the portals, in line with best practices and government guidelines.… Read More »