@abhishekrajaram's Latest Twitter Threads

📢 Update: Supreme Court Examines Anti-Profiteering Norms In a significant development, the Supreme Court has issued notices to the Union Finance Ministry, the CBIC, the GST Council, and the National Anti-Profiteering Authority (now part of the Competition Commission of India).

📣 Simplifying GST: A Call for Change by Vijay Kelkar! 📣 Former Finance Secretary, Vijay Kelkar, has made a renewed call for the simplification of India’s Goods and Services Tax (GST) structure, which he describes as “unnecessarily complex” 🏦.

📢 𝗕𝗿𝗲𝗮𝗸𝗶𝗻𝗴 𝗡𝗲𝘄𝘀! 𝗩𝗲𝗱𝗮𝗻𝘁𝗮 𝗟𝘁𝗱. 𝗥𝗲𝗰𝗲𝗶𝘃𝗲𝘀 𝗚𝗦𝗧 𝗣𝗲𝗻𝗮𝗹𝘁𝘆 𝗢𝗿𝗱𝗲𝗿 #Vedanta #GST #TaxLaw #BusinessNews Mining conglomerate Vedanta Ltd. has received a GST penalty order of Rs. 27.97 crore for the period of FY 2018-19 to FY2020-211.

📣 𝗥𝗲𝗳𝗼𝗿𝗺𝗶𝗻𝗴 𝗚𝗦𝗧: 𝗔 𝗖𝗮𝗹𝗹 𝗳𝗼𝗿 𝗚𝗦𝗧 𝟮.𝟬 The implementation of the Goods and Services Tax (GST) has been one of the most significant economic reforms in India over the last decade.

📢 Big News for Tobacco Industry! 🚬 The government has e𝘅𝘁𝗲𝗻𝗱𝗲𝗱 𝘁𝗵𝗲 𝗱𝗲𝗮𝗱𝗹𝗶𝗻𝗲 for the special procedure for registration and monthly return filing for manufacturers of pan masala, gutkha, and similar tobacco products till 𝗠𝗮𝘆 𝟭𝟱 🗓️

🔥 “𝗡𝗮𝘁𝘂𝗿𝗮𝗹 𝗚𝗮𝘀 𝘂𝗻𝗱𝗲𝗿 𝗚𝗦𝗧: 𝗔 𝗚𝗮𝗺𝗲 𝗖𝗵𝗮𝗻𝗴𝗲𝗿?” 🔥 GAIL Chairman, Sandeep Kumar Gupta, has made a compelling case for bringing natural gas under the GST regime. Here are the key takeaways:

📢 GST on Related Party Corporate Guarantees: Awaiting Clarification The Ministry of Finance is expected to issue a clarification on the taxability of corporate guarantees under the GST law between related parties. Here are the key points:

Streamlining GST Compliance: Auto-Population of HSN Summary in GSTR-1

ITC reflected in GSTR-2A and claimed through GSTR-9 allowed by the Madras High Court. 🔍 Case Spotlight: Sri Shanmuga Hardwares Electricals vs. The State Tax Officer

Delay in auto population of e-invoicing for March on GST portal hits return filing reports The Economic Times. 𝗜𝘀𝘀𝘂𝗲 𝗜𝗱𝗲𝗻𝘁𝗶𝗳𝗶𝗲𝗱: Taxpayers are facing delays in the auto-population of e-invoicing for March on the GST portal.