GST news and updates should be followed by each business for ensuring timely and 100 percent compliances. Read on to get the most recent developments & advancements from CBIC, GST Council and GST Network/Portal on GST returns and compliances, e-way bills and e-invoicing systems.
Latest GST News
1. GST Updates 2024 –
Dated- 22 June 2024
The 52nd GST Council meeting occurred at Sushma Swaraj Bhawan, New Delhi on 7th October 2023 and was led by the Association Finance Minister Smt. Nirmala Sitharaman. Read the complete update here.
2. GST Updates 2023 –
Dated- 07-10-2023
The 51st GST Chamber meeting was held on Wednesday, 2nd August 2023 through video conferencing. The Board discussed and endorsed the rules to implement the 28% GST levy on club, race courses and web based gaming.
Dated- 11-07-2023
50th GST Chamber meeting was held on 11th July 2023. Decision was taken to send intimations for excess ITC claims in GSTR-3B compared with GSTR-2B over a specific limit through DRC-01C to look for response. Further, GST on Online gaming was fixed at 28% on full face worth.
Dated- 15-06-2023
50th Council Meetings was supposed to be happening on 11th July 2023 . Read the latest new and top results here.
Dated- 12-06-2023
The NIC has made it required for taxpayers with turnover more than Rs.100 Crore to login using the Two-factor Authentication from 15th July 2023 for both the e-invoicing and e-way bill systems.
Dated- 26-05-2023
CBIC has given a new guidance on online scrutiny for FY 2019-20 onwards, in continuation with recently gave SOP for FY 2017-18 and 18-19.
Dated- 16th May 2023
GSTR-9 and GSTR-9C filing for FY 2022-23 has gone live on the Government portal.
Dated- 11th May 2023
The department has sent off the automated return examination module in May 2023 from FY 2019-20 onwards. The move intends to smooth out the communication between GST officials and taxpayers, saving a lot of time and efforts for the clients in question.
Dated- 10th May 2023
CBIC released the notification the sixth phase of e-invoicing. Subsequently, taxpayers with ₹5 Cr+ turnover in any financial year from 2017-18 will give e-invoices w.e.f first August 2023.
Dated- 6th May 2023
The GST department has conceded the automated return scrutiny module of 7 days to report the old e-invoices IRP portals by 90 days. Further, the division is yet to report the new execution date.
Dated- 13th April 2023
According to the GST Organization’s advisories dated 12th April 2023 and 13th April 2023, taxpayers with yearly turnover equivalent to or more than Rs.100 crore should report tax invoices and credit-debit notes to IRP in the period of 7 days of invoice date from 1st May 2023.
Dated- 31st March 2023
CGST notifications 02/2023 to 08/2023 gave on 31st March 2023 brings GST Chamber recommendations into effect as follows-
(1) Absolution plans valid up to 30th June 2023 are presented for late filers of GSTR-4, GSTR-9, GSTR-10, defaulters drawing in section 62 of the CGST Act (Best Judgment assessment) and for applying revocation of cancelled GST enlistment in REG-21.
(2) Risk based biometric aadhaar verification for Gujarat is advised through CGST notice 05/2023 with effect from 26th December 2022.
(3) The extension of limitation period under Section 168A to issue orders under Section 79 (recovery procedures) is reached out for previous years-
For FY 2017-18 – up to 31st December 2023
For FY 2018-19 – up to 31st March 2024
For FY 2019-20 – up to 30th June 2024
1st February 2023
Updates from Budget 2023-
The decriminalization of offenses and expansion of the composition scheme to e-tailors are a couple of key features from the Budget 2023. For complete GST features, read our Budget 2023 highlights.
Dated- 12th January 2023
A automated drop procedures facility is accessible on the GST Portal to revoke cancelled GSTINs where taxpayers file pending GST returns.
Dated- 4th January 2023
CGST Notification 01/2023 was given on 4th January 2023 to assign more powers vested with an Superintendent of Central Tax to the Additional Assistant Directors in DGGI, DGGST and DG Audit.
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