Refund of the excess TDS amount deducted in GST is allowed if Interstate Works Contract Requires Separate TDS in Each State This case deals with the complexities of Tax Deducted at Source (TDS) under GST when a project spans across two states. Here’s a summary: Background: A joint venture (JV) undertook a construction project in… Read More »
GSTR 1 Filing CHANGE FROM JANUARY 2025 ! GST LATEST UPDATE ! CA SATBIR SINGH
Implementation of mandatory mentioning of HSN codes in GSTR-1 & GSTR 1A Jan 9th, 2025 After successful implementation of Phase-I & Phase-II now Phase-III regarding Table 12 of GSTR-1 & 1A is being implemented, from return period January 2025. In this phase manual entry of HSN has been replaced by choosing correct HSN from given Drop down. Also, Table-12… Read More »
Analysis of Section 16(5) and Section 16(6) of CGST Act 2017 Inserted by the Finance (No. 2) Act, 2024, w.r.e.f. 1-7-2017. [However Notification No. 17/2024(S.O. 4253(E))-Central Tax, dated 27-9-2024 appoints 27-9-2024, as the date of enforcement] Let’s analyze the provisions of Section 16(5) and 16(6) of the CGST Act, as inserted by the Finance (No. 2) Act,… Read More »
Key Summary of Notification No 22/2024–CENTRAL TAX Dated 8th Oct 2024 NOTIFICATION NO. 22/2024–CENTRAL TAX [S.O. 4373(E)/F. NO. CBIC-20006/20/2023-GST], DATED 8-10-2024 This notification outlines a special procedure for rectifying orders issued under Sections 73, 74, 107, or 108 of the Central Goods and Services Tax (CGST) Act, 2017. Key Points: Applies to specific cases: This procedure applies only… Read More »
Sub: Enabling filing of Application for Rectification as per Notn. 22/2024-CT, dtd. 08/10/24, 2024 Jan 7th, 2025 The Central Government, on the recommendations of the 54th GST Council, had issued Notification No. 22/2024 – CT dated 08.10.2024 and notified that any registered person against whom any order confirming demand for wrong availment of ITC, on account of… Read More »
Single, consolidated Show Cause Notice (SCN) can be issued in GST for multiple time periods under the CGST Act. Key Point: The High Court has ruled that there is no legal barrier preventing the issuance of a single, consolidated Show Cause Notice (SCN) for multiple time periods under the CGST Act. Implication: Tax authorities can… Read More »
CIRCULAR NO. 238/32/2024-GST [F. NO. CBIC-20001/6/2024-GST] CLARIFICATION OF VARIOUS DOUBTS RELATED TO SECTION 128A OF THE CGST ACT, 2017 CIRCULAR NO. 238/32/2024-GST [F. NO. CBIC-20001/6/2024-GST], DATED 15-10-2024 Based on the recommendations of the GST Council made in its 53rd meeting, Section 128A has been inserted in the Central Goods and Services Tax Act, 2017 (hereinafter referred to… Read More »
Rule – 164 , Central Goods and Services Tax Rules, 2017 Inserted by the Central Goods and Services Tax (Second Amendment) Rules, 2024, w.e.f. 1-11-2024. 1 [Procedure and conditions for closure of proceedings under section 128A in respect of demands issued under section 73. 164. (1) Any person who is eligible for waiver of interest, or penalty,… Read More »
Section – 128A, Central Goods And Services Tax Act, 2017 Inserted by the Finance (No. 2) Act, 2024, w.e.f. 1-11-2024. [Waiver of interest or penalty or both relating to demands raised under section 73, for certain tax periods. 128A. (1) Notwithstanding anything to the contrary contained in this Act, where any amount of tax is payable by a… Read More »