Latest Updates on Goods and Services Tax (GST) in India

The government has been continuously updating and amending the provisions related to Goods and Services Tax (GST) to make it easier for taxpayers. The latest updates related to GST in India include various changes and amendments that have been implemented to streamline the tax system.

One of the recent updates includes the Uttar Pradesh GST circular, which addresses the tax jurisdictions for traders registered in corporate circles across the state. This circular aims to streamline jurisdictional matters for traders based on their location.

Another update from the Assam GST Department introduces a new registration procedure for registered rent deeds under the GST Act. This update is aimed at simplifying the registration process for taxpayers in Assam.

In terms of revenue collection, the government has reported the highest ever GST revenue collection for April 2024, totaling Rs 2.10 lakh crore. This record-breaking collection reflects the growth and compliance in the GST system.

Additionally, the GSTN has announced the launch of an enhanced version of the GST portal, which aims to improve user experience and navigation. The new version of the portal is set to be launched on 3rd May 2024.

Furthermore, the GST department has extended the due date for filing GSTR 1 to 12th April for March 2024 due to technical issues faced by taxpayers. This extension provides relief to taxpayers who were facing challenges in filing their returns.

Overall, these updates reflect the government’s commitment to improving the GST system and ensuring smooth compliance for taxpayers. Stay tuned for more updates on GST as the government continues to make changes to the tax system for the benefit of all stakeholders.