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 ...
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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, ...
No GST on penal charges levied by banks, NBFCs: CBIC
The CBIC also clarified that this GST exemption is limited to payment settlement function only, which involves handling of ...
Tax Guru22h
GST Clarifications on Penal Charges, Exemptions & GST on certain Services
2. Applicability of GST on penal charges being levied by the Regulated Entities (REs) in view of RBI instructions dated 18.08 ...
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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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 ...
Received GST Notice? How to Verify If It's Fake or Genuine and What to Do Next
The CBIC has warned the public about fake GST violation notices. They advise checking any notices from the DGGI or CGST ...
Tax Guru3h
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 ...
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 ...