Detailed Summary of Recommendations from the 54th GST Council Meeting

Detailed Summary of Recommendations from the 54th GST Council Meeting

Detailed Summary of Recommendations from the 54th GST Council Meeting Date: 9th September 2024Chairperson: Union Minister for Finance & Corporate Affairs Smt. Nirmala SitharamanAttendees: Union Minister of State for Finance Shri Pankaj Chaudhary, Chief Ministers of Goa and Meghalaya, Deputy Chief Ministers of Arunachal Pradesh, Bihar, Madhya Pradesh, and Telangana, Finance Ministers of States & […]

Invoice Management System (IMS) for Efficient GST Input Tax Credit (ITC) Management

Invoice Management System (IMS) for Efficient GST Input Tax Credit (ITC) Management

Invoice Management System (IMS) for Efficient GST Input Tax Credit (ITC) Management To streamline the process of invoice corrections and amendments for taxpayers, the GSTN is introducing a new communication system through the GST portal. This new functionality, called the Invoice Management System (IMS), will help taxpayers manage their invoices more effectively, ensuring accurate matching […]

Clarification on GST Payments Through Form GST DRC-03 and Introduction of Form GST DRC-03A

Clarification on GST Payments Through Form GST DRC-03 and Introduction of Form GST DRC-03A

Clarification on GST Payments Through Form GST DRC-03 and Introduction of Form GST DRC-03A Issue with Payments Through Form GST DRC-03 Many taxpayers mistakenly used Form GST DRC-03 to pay GST liabilities arising from demand orders issued by the Jurisdictional Proper Officer. However, Form GST DRC-03 is meant solely for voluntary payment of taxes, not […]