Simplified Explanation of Notification No. 11/2024-Central Tax Purpose of the Notification: The notification is an amendment to the earlier Notification No. 2/2017-Central Tax dated June 19, 2017. It modifies certain details regarding the appointment of officers and the areas they cover under the Central Goods and Services Tax (CGST) Act, …
Explanation and Simplification of Amendments in Central Goods and Services Tax (Amendment) Rules, 2024 1. Application Process and Aadhaar Verification Amendment: Rule 8(4A) now requires individuals or entities not opting for Aadhaar authentication to get their photographs taken and documents verified at Facilitation Centers. The application will only be considered …
Simplified Explanation of Notification No. 13/2024-Central Tax **1. Notification Overview: This notification rescinds (cancels) a previous notification related to the procedure for GST registration in certain states or Union Territories (UTs). **2. Key Provision: **A. Rescission of Previous Notification: Previous Notification: Notification No. 27/2022-Central Tax dated December 26, 2022, which …
Simplified Explanation of Notification No. 14/2024-Central Tax **1. Notification Overview: This notification provides an exemption for certain registered persons from filing their annual GST return for the financial year 2023-24. **2. Key Provision: **A. Exemption Criteria: Turnover Limit: Registered persons whose aggregate turnover for the financial year 2023-24 is up …
Simplified Explanation of Notification No. 15/2024-Central Tax **1. Notification Overview: This notification updates the earlier notification (No. 52/2018-Central Tax) regarding the tax collection at source (TCS) by electronic commerce operators. **2. Key Amendment: **A. Reduction in TCS Rate: Previous Rate: The earlier notification required electronic commerce operators to collect 0.5% …
Simplified Explanation of Notification No. 2/2024-Central Tax (Rate) **1. Notification Overview: This notification updates the GST rates on certain goods by amending the earlier notification (No. 1/2017-Central Tax (Rate)). **2. Key Amendments: **A. Amendments in Schedule II – 6% GST Rate: Addition of New Items: Serial Number 121A: Cartons, boxes, …
Simplified Explanation of Notification No. 3/2024–Central Tax (Rate) **1. Notification Overview: This notification updates the rules regarding the GST exemption on certain goods, specifically addressing how agricultural farm produce is treated under GST regulations. **2. Key Amendment: **A. Clarification on Agricultural Farm Produce Packaging: Current Rule: Previously, agricultural farm produce …
Simplified Explanation of Notification No. 4/2024–Central Tax (Rate) **1. Notification Overview: This notification updates the rules related to GST exemptions for certain services. It amends the existing notification (No. 12/2017-Central Tax (Rate)) which details which services are exempt from GST. **2. Key Changes in the Notification: **A. New Exempt Services …
Simplified Explanation of Notification S.O. 3048(E) **1. Notification Overview: This notification sets up the Goods and Services Tax Appellate Tribunal (GSTAT), specifies its principal and state benches, and supersedes earlier notifications related to GSTAT’s constitution. **2. Effective Date: The GSTAT is established starting from September 1, 2023. **3. Principal and …
Simplified Explanation of Notification No. 16/2024–Central Tax **1. Notification Overview: This notification details when specific sections of the Finance Act, 2024, will start to be enforced. **2. Effective Dates: Section 13 will be enforced starting October 1, 2024. Sections 11 and 12 will be enforced starting April 1, 2025. **3. …
