Amendment of Notification relating to GST Rates under the Puducherry GST Act, 2017
The Government of Puducherry, through the Lieutenant Governor, Puducherry has issued a notification inserting entries under the ‘Specified Actionable Claim’. Originally, Schedule III of the Puducherry GST Act, 2017 dealt with the actionable claims and excluded the lottery, betting and gambling but through the present notification such entries will be entered under Schedule IV which deals with in Specified Actionable Claims.
West Bengal Govt. extends tax exemption for High Speed Diesel and Petrol
The amendment, effective immediately, pertains to a date change. In the existing notification, the date mentioned for specific actions was “30th day of September, 2023.” However, with the newly issued amendment, this date has been revised to “30th day of June, 2024.”
Directions for E-commerce operators under Goa GST Act, 2017
The persons making supplies of goods through an electronic commerce operator who is required to collect tax at source are exempted from obtaining registration under the Goa GST Act 2017.
CBIC declares the revised rate of exchange of conversion
CBIC declares the revised the rate of exchange of conversion w.e.f 22 September, 2023.
CBIC directions for import of Linear Alkyl Benzene
In addition to the prescribed documents required to be submitted with the bill of entry, the importer shall also produce — (i) Test Certificate of the product; (ii) Manufacturer’s Invoice; (iii) Purchase Order or Contract; and (iv) manufacturing process from the manufacturer.
Central Goods and Services Tax (Third Amendment) Rules, 2023
The amendment provides that the value of supply of online gaming, including supply of actionable claims involved in online money gaming, shall be the total amount paid or payable to or deposited with the supplier by way of money or money’s worth, including virtual digital assets, by or on behalf of the player, provided that any amount returned or refunded by the supplier to the player for any reasons whatsoever, including player not using the amount paid or deposited with the supplier for participating in any event, shall not be deductible from the value of supply of online money gaming.
Puducherry Goods and Services Tax (Second Amendment) Rules, 2023
These amendments aim to enhance the authentication and validation procedures within the tax system, ensuring greater accuracy and compliance with tax regulations. The Puducherry Goods and Services Tax (Second Amendment) Rules, 2023, also contain provisions related to the manner of dealing with differences in input tax credit, information for intra-State movement of gold and precious stones, intimation of amounts liable for recovery under section 79, consent-based information sharing, and notices to return defaulters for failing to file annual returns.
CBDT releases fifth annual Advance Pricing Agreement report
The BAPAs were signed as a consequence of entering into Mutual Agreements with India’s treaty partners namely Finland, the UK, the US, Denmark, Singapore, and Japan.
Clarifications regarding applicability of GST on certain services
It is clarified that services supplied by a director of a company or body corporate to the company or body corporate in his private or personal capacity such as services supplied by way of renting of immovable property to the company or body corporate are not taxable under Reverse Charge Mechanism.
CBIC Instructions for streamlining of Customs Post Clearance Audit (PCA)
It must be ensured that every entity selected should be subjected to the full audit cycle starting from Desk Review, Audit Plan, Audit Verification and preparation of Audit Report.
