New GST Clarification for Banks Serving FPIs
The Government of West Bengal’s clarification on the place of supply for custodial services provided to FPIs underlines the importance of accurate tax interpretation and compliance.
New GST Clarification on Time of Supply for Spectrum Usage and Similar Services
The Government of West Bengal’s clarification on the time of supply for spectrum usage and similar services under GST provides essential guidance for businesses in the telecom sector and other related fields.
New GST Clarification on Salvage Value in Motor Vehicle Insurance
The Government of West Bengal’s clarification on the taxability of salvage value in motor vehicle insurance claims provides much-needed guidance on GST liabilities. By delineating the conditions under which GST is applicable, this clarification helps streamline the claims process and ensures compliance with GST laws.
New GST Clarifications on Warranty Replacements in West Bengal
The Government of West Bengal’s latest clarification on GST liability and ITC availability for warranty and extended warranty services marks a significant step towards greater clarity and efficiency in tax administration.
New Clarification on ITC and RCM Invoicing for Unregistered Suppliers
This notification provides essential clarity on the time limits and procedures for availing ITC on supplies from unregistered persons under the RCM in Uttar Pradesh. Registered persons must adhere to these guidelines to ensure compliance with the UPGST Act and avoid potential penalties.
Government of Haryana introduces New NET SGST Reimbursement Scheme
The NET SGST Reimbursement Scheme is a testament to Haryana’s commitment to nurturing a robust startup ecosystem. By alleviating financial pressures and encouraging investment, the government is paving the way for a new wave of entrepreneurial success in the state. Startups in Haryana now have a powerful ally in the state government, dedicated to their growth and sustainability.
Rajasthan Government Introduces New TCS Rates
On July 19, 2024, the Government of Rajasthan issued an amendment to its earlier notification .This amendment specifically addresses the rate of Tax Collected at Source (TCS).
The revised notification introduces a reduction in the TCS rate. Previously set at 0.5%, the rate will now be halved to 0.25%.
Understanding the Latest Amendments to the Rajasthan GST Rules: What You Need to Know
The Rajasthan Goods and Services Tax (Amendment) Rules, 2024, introduce crucial updates aimed at enhancing the GST framework in the state. These changes aim to:
Improve Compliance
Enhance Transparency
Streamline Processes.
Delhi Government’s Big Relief: No Annual GST Return for Small Businesses with Turnover up to 2 Crores
The Government of Delhi has decided that if total sales (aggregate turnover) for the financial year 2023-24 for a business is up to Two crore rupees, there is no need to file an annual GST return for that year.
Haryana Government’s Big Relief: No Annual GST Return for Small Businesses with Turnover up to 2 Crores
The Government of Haryana has decided that if total sales (aggregate turnover) for the financial year 2023-24 for a business is up to Two crore rupees, there is no need to file an annual GST return for that year.
