Top GST News for the month of October 2024 October 2024 has been an eventful month for GST updates in India, with significant changes impacting businesses and taxpayers alike. These updates reflect ongoing efforts to modernize the GST framework, improve tax transparency, and ensure smoother processes...
Changes in the 2025 GST Voucher Scheme Eligibility for the GST Voucher is determined by annual value thresholds and other conditions. In 2025, the annual value thresholds will be revised, allowing more Singaporean households to qualify for benefits. Currently, there are two annual value ...
In cases where you have only collected GST at a rate of 8% on supplies made on or after 1 Jan 2024 (for example, due to system update delays), you are still obligated to account for GST at 9% in your GST return. To do this, you can calculate the output tax payable by using the...
The 55th GST Council meeting on 21 December 2024 will bring several important updates and changes in the Goods and Services Tax (GST) regime for 2024-25. The key highlights from this meeting: Ease of Compliance Burden: GSTR-1 Amendments:New GSTR-1A form for current period amendments. ...
On the GST front, there were quite a few changes and updates in the month of November. You can read all the updates here: Top GST News of the Month. Also, we have covered detailed articles for you about the key GST Changes effective from November 1, 2024 and the newly released Supplie...
17th October 2024 Attention taxpayers, the GSTN department has made changes to the auto-populated values in pre-filled GSTR-3B from GSTR-1/1A/IFF or GSTR-2B. View more 15th October 2024 GSTN department issues important advisory regarding the automatic population of eligible input tax credit ...
Stay informed aboutGST rates 2024and changes or updates to HSN codes, for updating your systems and processes accordingly. 6. Incorporate HSN Codes in Invoices Ensure that GST HSN code rates are included on invoices for all goods and services supplied, as this is a mandatory requirement for GST...
Get the latest GST news for December 2024, like deadlines for filing, changes in rules, and important information to help youfile your taxes easily and follow the guidelines. December 26, 2024 How Does the Quick Commerce Business Model Work?
In the Union Budget 2024 held on 23rd July 2024, the Finance Minister announced a reduction in the customs duty on the import of mobile phones and related components by 5%. This move aims to boost the domestic manufacturing industry and make mobile phones more affordable. These changes will co...
GST Rate Changes for Services Life and Health Insurance Group of Ministers (GoM) to be constituted to study GST issues related to life and health insurance. Report expected by October 2024. Transport by Helicopters GST on passenger transport by helicopters (seat share basis) set at 5%; 18% GS...