Taxsol Services

*Key Recommendations made by the 53rd GST Council meeting held today:*

*1. Waiver of Interest and Penalty*
Waiver of interest and penalty on demand notices issued under Section 73 for FY 2017-18, 2018-19, and 2019-20, applicable where tax is paid entirely by March 2025.

*2. Extended Time Limit for ITC*
Time limit to avail ITC u/s 16(4) extended to 30th November instead of October for FY 2017-18, 2018-19, 2019-20, and 2020-21.

*3. Monetary Limits for Appeals*
Monetary limit for filing appeals by the tax department set at ₹20 lakh for the tribunal, ₹1 crore for the High Court, and ₹2 crore for the Supreme Court.

*4. Reduced Pre-Deposit for Appellate Authority*
Maximum amount of pre-deposit for filing an appeal before the appellate authority reduced from ₹25 crore to ₹20 crore each for CGST and SGST.

*5. Reduced Pre-Deposit for Tribunal*
Pre-deposit for filing an appeal before the tribunal reduced to 20% and ₹20 crore each for CGST and SGST.

*6. Amendment in Appeal Time Limits*
Amendment in law to provide that the time limit for filing appeals before the tribunal will start from the date the government notifies it.

*7. Extension of GSTR-4 Filing Deadline*
Extension of time limit to file GSTR-4 till 30th June.

*8. No Interest on Cash Ledger Amount*
Interest will not be charged for the amount available in the cash ledger at the time of filing GSTR-3B.

*9. New Form GSTR-1A*
Insertion of new Form GSTR-1A to allow corrections in GSTR-1, which can be filed before filing GSTR-3B.

*10. Biometric Aadhar Authentication*
Biometric-based Aadhar authentication on a PAN-India basis in a phased manner.

*11. Various Clarifications Issued*
Clarifications issued on various topics, including:
- 12% tax rate for milk cans
- Uniform GST rate of 12% on all carton boxes
- Clarification that all types of sprinklers will attract 12% GST and past practice to be continued
- 12% rate on all solar cases
- Services by railways, platform tickets, and other services are exempt
- Service of hostel accommodation outside educational institutions made exempt with conditions.

https://www.zeebiz.com/hindi/personal-finance/income-tax/how-income-tax-department-identify-fake-rent-receipt-know-hra-related-rules-156130

इन्वेस्टमेंट प्रूफ देते वक्त ना करें ये गलती, जानिए फर्जी Rent Receipt कैसे पकड़ता है Income Tax विभाग | Zee Business इन्वेस्टमेंट प्रूफ देते वक्त अक्सर ज्यादा टैक्स बचाने के लिए कुछ लोग फर्जी रेंट एग्रीमेंट और रेंट रिसीप्ट (Fake Rent Receipt...