How GST Budget Reforms Could Shape the Future of India's MSME
The GST reform holds immense potential to bolster India's MSME sector, but its current framework requires critical ...
File GSTR-9C by March 31 to get late fee waive-off and avoid GST notice
GSTR-9C is a reconciliation statement between the annual returns filed in GSTR-9 and the audited annual financial statements ...
No GST on penal charges levied by banks, NBFCs: CBIC
GST will not be charged on penal charges levied by banks and NBFCs, as clarified by the CBIC. This exemption is due to such ...
Union Budget: Tax Relief, Lower Import Duties, Rationalizing GST Rates To Boost FMCG Consumption
With consumption accounting for over 60 percent of India's GDP, boosting disposable income is critical to reviving demand ...
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Finance Ministry warns taxpayers about fake GST violation notices; How to verify
The Central Board of Indirect Taxes and Customs (CBIC) confirmed that some fraudsters are sending counterfeit GST summons, ...
Adani Power Slapped With GST Demand Of ₹31.20 Crore By Tax Authority
Adani Power; private power generation player; has been slapped with GST demand of over Rs 31 crore, according to company's ...
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No GST on Bank, NBFC Penal Charges: CBIC
The Central Board of Indirect Taxes and Customs (CBIC) has clarified that GST will not be applicable on penal charges levied ...
CBIC Confirms No GST Applicability on Penal Charges Imposed by Banks and NBFCs
The CBIC confirms that GST is not applicable on penal charges by banks and NBFCs, clarifying the tax implications for ...
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Section 75(7) of GST Act Prohibits Demand Confirmation on Unspecified Grounds
Ltd., challenging the GST assessment order issued by the State Tax Officer. The company, a non-vessel operating common carrier, was under scrutiny for various tax-related discrepancies in the ...
Budget 2025 Expectations Highlights: Income tax slabs, capex allocation and GST rationalisation on wishlist
As we near Finance Minister Nirmala Sitharaman's eighth Budget speech on February 1, 2025, stakeholders share their wishlist ...
No GST on penal fees for loan non-compliance, says finance ministry
The RBI in its circular had directed regulated entities to replace "penal interest" with "penal charges" for borrowers who fail to comply with loan terms ...