[ad_1] The Goods and Services Tax Network (GSTN) has introduced an enhancement in biometric authentication for new GST registration applicants. Promoters and Directors of certain businesses can now complete the mandatory biometric verification at any GST Suvidha Kendra (GSK) in their home state, instead of their designated jurisdictional GSK. Index Fund Corner Sponsored Scheme Name […]
Gift vouchers and cards not liable to GST: All you need to know – CNBC TV18
[ad_1] The Central Board of Indirect Taxes and Customs (CBIC) has clarified how the Goods and Services Tax (GST) applies to voucher transactions. Vouchers can be classified into two categories, each with distinct GST implications. Company Value Change %Change Prepaid vouchers: Treated as ‘money’ Prepaid vouchers, such as gift cards and digital wallets, are recognised […]
GST Council: Used EVs bought by companies or modified and sold by sellers to be taxed at 18% on margin value, says FM – CNBC TV18
[ad_1] The 55th GST Council meeting on Saturday (December 21) outlined the Goods and Services Tax (GST) structure for electric vehicles (EVs). Finance Minister Nirmala Sitharaman said that new EVs attract a 5% GST and the Council aims to promote the adoption of electric vehicles. In a key clarification, Sitharaman stated that used EVs will […]
New invoice management system to streamline GST compliance from Oct 1: What this means for taxpayers – CNBC TV18
[ad_1] Starting October 1, 2024, the Goods and Services Tax Network (GSTN) will roll out a new Invoice Management System (IMS) on the GST portal. This new feature aims to streamline how taxpayers manage invoices and claim Input Tax Credit (ITC). The IMS will enable taxpayers to accept, reject, or keep invoices pending directly through […]