Articles

Hers are the Summary of GST Notifications issued on 16.01.2025, that implements the decision taken in the 55th GST Council Meeting.

Summary of GST Notifications issued on 16.01.2025

Judgement

The Bombay High Court verdict delayed again in respect of Income tax rebate under Section 87A issue.

Income Tax Rebate Issue: Bombay High Courts verdict delayed again

Notifications

Notifications – Integrated Tax (Rate)

The Central Board of Indirect Taxes and Customs (CBIC) has notified the margin scheme wherein GST on old and used Vehicles increased to 18%.

Margin Scheme: GST on Old and Used Vehicles increased to 18%

A mutual fund is a company that collects money from investors to buy securities like bonds, stocks, and money market instruments. from 659 equity mutual funds, six equity mutual funds are falling up to 20%.

Investment Alert: 6 Mutual Funds Down Up to 20% from Their 52-Week High NAVs

Investment Alert: 6 Mutual Funds Down Up to 20% From Their 52-Week High NAVs

Notifications – Central Tax (Rate)

The Central Board of Indirect Taxes and Customs (CBIC) has notified the exemption of GST on Gene Therapy via issuing a Notification.

CBIC exempts GST on Gene Therapy [Read Notification]

As recommended by GST Council Meeting, GST Notification has been issued to exclude taxpayers registered under composition levy scheme from reverse charge mechanism.

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Summary of GST Notifications issued on 16.01.2025

Income Tax Rebate Issue: Bombay High Courts verdict delayed again

Margin Scheme: GST on Old and Used Vehicles increased to 18%

Investment Alert: 6 Mutual Funds Down Up to 20% From Their 52-Week High NAVs

CBIC exempts GST on Gene Therapy [Read Notification]

No RCM on Immovable Property if Tenant is Composition taxpayer [GST Notification]