GOODS AND SERVICES TAX

  Advisory in respect of Changes in GSTR 8 Please refer to the GST Council decision to the effect that TCS rate has been reduced from the current 1% (0.5% CGST + 0.5% SGST/UTGST, or 1% IGST) to 0.5% (0.25% CGST + 0.25% SGST/UTGST, or 0.5% IGST) effective from 10/07/2024 vide Notification No. 15/2024 dated 10.07.2024. Thus, the following important aspects regarding the TCS rates effective from 10.07.2024 are to be noticed: 1.    Period from 1st July to 9th July 2024:      •  During this period, the old TCS rate of  1%  will continue to apply. Taxpayers are required to collect & report TCS at this rate for all transactions happened between these dates. 2.    From 10th July 2024 onwards:      •  A revised TCS rate of  0.5%  will come into effect from 10th July 2024. Taxpayers must ensure their systems and processes are updated to reflect this new rate for all transactions happened f...

  Attention: Increase in size of documents upload in Principal Place of Business and Additional Place of Business for New Registration and Amendment Dear Taxpayer, GSTN  is pleased to inform that changes have been made in size of document upload in Principal Place of Business and Additional Place of Business for New Registration and Amendment catering to the grievances received in the matter from trade. Taxpayer can now upload following documents up to maximum size of 500 kb in the Principal Place of Business tab and Additional Places of Business tab as mentioned below:- Document type Document Name Earlier Document Size Document size increased now Type of Document Proof of Principal Place of Business and Additional Place of Business Municipal Khata Copy,  Electricity Bill,  Consent Letter,  Property Tax Receipt 100 KB 500 KB JPEG/PDF Thanks, Team GSTN

Enhancements to Address-Related Fields in GST Registration Functionalities   Dear Taxpayers, The Following enhancements have been made to address-related fields in the registration functionalities: New Registration, Amendment Application (Core & Non-Core), and Geocoding Business Addresses. These enhancements are based on the analysis of tickets and user feedback. The details are as follows: 1.  Update in Validations applicable while entering the address in address-related fields. a.   Address is in India:       •    The fields PIN Code, State, District, and City/Town/Village are interlinked and must be selected from the autosuggestions.       •    For other fields, taxpayer in addition to alphanumeric values can add limited special characters such as Hyphen (-), Forward Slash (/), Ampersand (&), Comma (,), Apostrophes ('), Hash(#), Period(.), Small Brackets (), Inve...

  Filing of information by manufacturers of Pan Masala and Tobacco taxpayers Please refer to the notification Notification No. 04/2024 – Central Tax dated 05-01-2024 to seek information from taxpayers dealing in the goods mentioned therein. Two forms have been notified vide this notification namely GST SRM-I and GST SRM-II. The former pertains to the registration and disposal of machines while the latter asks for information on inputs and outputs during a month. Form GST SRM-I meant for registration of machines has already been made available on the portal w.e.f. 15-05-2024. Concerned taxpayers are using the same for the registration of machines and other information asked therein. Now, the second form namely, Form GST SRM-II is also available on the portal. Taxpayers dealing in the manufacture of Pan Masala and Tobacco products can now report the details of inputs and outputs procured and consumed for the relevant month.

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Mastering GST: A Comprehensive Online Course for Tax Professionals and Business Owners 🎉 Join us at the Institute of Company Accountants for an enriching ONLINE CLASS session on GST📚 📅 Date: June 10 2024(Weekly three Classes) 🕥 Time: 7:30 PM - 8 PM 📍 Venue: Online 🔥Welcome to the Gateway of GST Excellence! Get ready to unlock the secrets of seamless tax compliance and strategic advantage. Our Goods and Services Tax Online Course is your key to mastering every facet of GST.  From fundamentals to advanced strategies, we're here to guide you every step of the way. Let's embark on this journey to GST mastery together! 💡Unlock the Power of GST: Apply Now and Transform Your Understanding of Taxation! "GST isn't just about numbers; it's about understanding the economic landscape and adapting to change effectively."  Apply now to secure your spot -  https://gstambattur.in/ ✉   Mail id:   icainstituteannanagar@gmail.com 🕻  Contact:  7550095215 / 93...

Advisory on launch of E-Way Bill 2 Portal May 28th, 2024 GSTN  is pleased to inform that NIC is releasing the  E-Way Bill 2 Portal   (https://ewaybill2.gst.gov.in)  on 1st June 2024. This portal ensures high availability and runs in parallel to the e-way Bill main portal  (https://ewaybillgst.gov.in) . The e-way bill 2 portal synchronises the e-way bill details with main portal within a few seconds. The highlights of the portal are as follows: •   Presently, E-Way Bill 2 Portal provides the critical services of E-Way Bill system, and gradually it will be extended with other services of e-way bill system. •   E-Way Bills can be generated and updated on the E-Way Bill 2 Portal independently. •   E-Way Bill 2 portal provides the web and API modes of operations for e-way bill services. •   The taxpayers and logistic operators can use the E-Way Bill 2 portal with the login credentials of the main portal. •...