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Key Updates to the CGST Rules: 2024 Amendments You Should Know
1. Rule 36 – Input Tax Credit (ITC) Amendment: Input tax credit cannot be availed if tax has been paid in response to an order confirming demand due to fraud, willful misstatement, or suppression of facts under Section 74 of the CGST Act. Impact: ITC is restricted in cases of fraud, ensuring stricter compliance. 2. […]
New GST Rule: Ensure Your Bank Account is Linked to Avoid Filing Issues
Introduction It was proposed that a new rule would come into practice from 1st September 2024, which would change the whole scenario of GST. It said that all the taxpayers under GST have to link the valid bank account with the GSTIN in regard to filing GSTR-1. Without linking, the filing would not be possible. […]
