The Central Board of Indirect Taxes and Customs (CBIC) is examining the suggestions of the industry and may soon place the issue before the GST Council. The Karnataka High Court has directed the CBIC to hold discussions with stakeholders and submit suggestions.

Difference between Commission and SaaS model

Commission model : Platforms like Uber and Ola charge 5% (without input tax credit) or 12% (with input tax credit) GST on each ride. This tax is collected from the passenger and deposited by the apps.

SaaS model: Platforms like Namma Yatri and Rapido charge drivers a monthly or daily subscription fee, which is subject to 18% GST. But no GST is charged from passengers for the ride.

What is the problem?

This disparity is leading to price hikes in the market. Industry insiders say that both models offer the same service (traffic), but different taxes are making the commission-based apps more expensive. “Rides are cheaper in the SaaS model, but that is because of tax benefits, not better functionality,” said a senior industry official.

What is legal confusion?

Under Section 9(5) of the CGST Act, services like passenger transport are taxable to the e-commerce platform rather than the driver. But it is not clear whether the SaaS model falls under this ambit, as these platforms claim to only connect drivers and passengers. The Karnataka Authority for Advance Rulings has held Namma Yatri and Myn (Multiverse Technologies) to be outside Section 9(5) as they only provide software. But platforms like Uber and Rapido are taxable due to their active role in ride management and customer service.

Given the growing demand for app-based transport services in India, there is a growing need for uniform tax rules. According to sources, the GST Council may amend Section 9(5) or issue clear guidelines for SaaS and commission models. This will bring clarity in taxation, create a level playing field and prevent revenue loss.

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Because the changes in these rules will directly affect your pocket. Although many rules change on the first date of every month. But this time some more rules are changing from the first date. Know about the 10 major changes happening from January 1:

1. Price of LPG cylinder

On the first of every month, oil companies revise the prices of LPG cylinders. This includes both domestic and commercial cylinders. During this period, companies can increase or decrease the price of LPG cylinders. Many times companies do not even make any change in the price.

2. Changes in GST rules

Many rules related to GST are going to change from January 1. This also includes Multi Factor Authentication (MFA). This process will be applicable to all taxpayers who file GST. Its purpose is to make the GST filing process more secure.

3. Pension from any bank

EPFO has made the pension rules easier from January 1. From January 1, employees will be able to withdraw their pension amount from any bank. For this, they will not need any additional verification. With this new rule, withdrawing pension amount will be very easy.

4. Limit increased on UPI 123Pay

Those users who do not use smartphones can also transfer money from their bank account using their basic or feature phones. Its limit was earlier Rs 5,000. From January 1, it has been increased to Rs 10,000. Now people will be able to transact more money.

5. Farmers will get more loans

From January 1, farmers will now be able to get a loan of up to Rs 2 lakh without guarantee. The Reserve Bank had recently announced this. The Reserve Bank had said that the loan limit given to farmers has been increased from Rs 1.60 lakh to Rs 2 lakh.

6. Car prices will increase

Buying a car may become expensive from January 1. Car companies like Maruti Suzuki, Hyundai, Mahindra, Honda, BMW etc. are considering increasing the price. It is believed that the price of a car may increase by up to 3% from January 1.

7. FD rules will also change

If you prefer fixed deposits (FD) for investment, then some changes are going to happen in it from January 1. The Reserve Bank has changed the rules related to FD for NBFCs and HFCs. These changes are related to withdrawing the amount deposited in FD before maturity.

8. Limit set in Amazon Prime membership

Amazon Prime membership is also changing from January 1. Now you can watch Prime Video on only two TVs from one Prime account. If you want to watch Prime Video on a third TV from that account, you will have to take a separate subscription for it. Earlier, videos could be watched on up to five devices (TV or smartphone) from one Prime account.

9. Use of Rupay Credit Card

Some rules related to Rupay credit card are also changing from January 1. NPCI has issued guidelines for this. Under the new rules, not every Rupay credit card user will be able to access the lounge at the airport. This facility will be available on the basis of the amount spent from the credit card.

10. Train timings will change

The timings of many trains are also changing from January 1. Many trains of North Central Railway are included in the new timetable. A total of 15 trains including Vande Bharat running between Agra-Varanasi have been included in this. On the other hand, more trains of other routes are also included in it. Apart from this, the numbers of trains which were run with special numbers during the time of Corona will also change.

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The post New Rules From 1st January 2025: From LPG to UPI… these 10 rules will change from January 1, know all About Details first appeared on Rightsofemployees.com.

National Informatics Center (NIC) has said that this rule will be applicable only for taxpayers eligible for e-challan. NIC has clarified that e-challan will not be required to generate e-way bills for customers and other types of transactions. In such a situation, these e-way bills will continue to be issued as before. The government has changed the rules to bring transparency in tax payment.

Therefore, the rule has been changed.

NIC, based on the analysis, has found that some eligible taxpayers for e-invoice are generating e-way bills for B2B (firm to firm) and B2E (companies to exporters) transactions without linking them to e-invoice. Making it. In some of these cases, the challan details recorded separately under e-way bill and e-challan are not matching in some parameters. Due to this, there is no matching between e-way bill and e-challan details.

That is why now NIC has told GST taxpayers that to avoid such situations, they will not be allowed to generate e-way bills without e-challan details from March 1, 2024. This e-invoice is applicable for competent taxpayers and transactions related to supplies under trade and export.

GST collection last month was Rs 1.64 lakh crore.

The total GST collection in the last month i.e. December 2023 was Rs 1.64 lakh crore. There was a 10 percent increase in GST collection on annual basis. The special thing is that December is the seventh month of this year in which GST collection of more than Rs 1.60 lakh crore has been done. The increasing figures of GST clearly show that industrial and business activities are increasing rapidly in the country.

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ITC returned with interest

Sources said the law committee comprising tax officers from the Center and states is of the view that where the ITC claimed in GSTR-3B return exceeds a certain threshold from the amount reported in GSTR-B generated, the registered person should be liable to pay tax through the portal. This information should be given through Along with this, he should be directed to explain the reason for this difference or return the excess ITC with interest.

On which amount the provision will be applicable

The committee has suggested that if the difference is more than 20 percent and the amount is more than Rs 25 lakh, then this provision should be applicable.

The meeting will be held on July 11.

A final decision can be taken on the recommendations of the committee in the 50th meeting of the GST Council to be held on July 11. Currently, businesses use the tax paid by their suppliers to settle their GST liability in GSTR-3B.

GST Network generates Form GSTR-2B, which is a generated document. This shows the availability or non-availability of ITC in each document submitted by the suppliers. Sources said the Law Committee is of the view that a registered person should not be allowed to file monthly statement of outward supplies or GSTR-1 unless he has satisfied the tax authority about the discrepancy or has not refunded the excess ITC claimed.

Fake GST to be stopped

GST authorities last month took steps to check similar tax evasion in cases of difference in tax liability declared in GSTR-1 and tax paid in GSTR-3B. The purpose of this step is to curb the cases of fake invoices. Fraudsters usually use this route to avail ITC wrongfully without actual supply of goods or services.

2-month campaign launched

GST officials have launched a two-month special campaign to detect fake registrations under GST. Such registrations are done for the purpose of issuing fake bills or invoices and defrauding the government.

1.01 lakh crore GST evasion

The Directorate General of GST Intelligence (DGGI) has detected GST evasion of more than Rs 1.01 lakh crore in the financial year 2022-23, which is double the figure compared to the previous year. Of these, 14,000 cases have been registered by the authorities.

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Charges will be levied if ATM transaction fails

Punjab National Bank (PNB) customers are going to get a big shock. If a PNB customer does not have money in his account and does a transaction from an ATM and it fails, the bank will charge for this transaction. Rs 10 and GST will be charged separately on such transactions. Information in this regard has been given by sending messages to the customers on behalf of the bank. Apart from this, a notice has also been issued on the bank’s website. This rule is coming into force from 1 May 2023.

Tata Motors again increased the prices of cars

In terms of sales, the country’s number-3 car company Tata Motors has announced that it is going to increase the prices of all its cars and their models. The company is increasing the prices of all its models by up to 0.6 percent. Tata has increased the prices for the second time this year. Audi is also going to increase the prices of its vehicles. Luxury SUVs Q3 and Q3 Sportback will see a price hike of up to Rs 1 lakh. The Audi Q8 Celebration, Audi RS5 and the Audi S5 will see a price hike of up to Rs 4 lakh.

Brokers will not be able to take new bank guarantees from customers’ money

Brokers used to keep investors’ funds with the bank for guarantee as per their requirement and in such a situation there was a possibility of misuse of common investors’ money. But from May 1, brokers will not be able to do so. Markets regulator SEBI, in a recent circular, has mandated that stock brokers and clearing members can no longer pledge client money with banks as a guarantee. The existing bank guarantee, which is now, will be canceled by 30 September.

Receipt will have to be uploaded in 7 days

Companies whose total turnover is Rs 100 crore or more will now have to upload the electronic invoice ie receipt on the Invoice Registration Portal ie IRP within 7 days from May 1. Till now there was no such deadline. GST Network said that in order to ensure timely compliance, taxpayers falling within the prescribed turnover limit will not get the facility to report uploading of invoices older than seven days. Those who do not do this will not be able to take advantage of Input Tax Credit ie ITC.

The post ATM Card Holders Alert! New rules have been implemented on ATM, charges will be imposed first appeared on Rightsofemployees.com.

These changes include many things from GST rules to ATM transactions etc. Now the companies will have to upload the electronic invoice on the IRP within seven days of the issue of the electronic invoice. PNB’s ATM transaction failure will also be charged from today. Brokers will not be able to take bank guarantees from clients’ money. At the same time, Tata and Audi increased the prices of their vehicles. Let us tell you about the changes from today.

Charges will be levied if ATM transaction fails

Punjab National Bank (PNB) customers are going to get a big shock. If a PNB customer does not have money in his account and does a transaction from an ATM and it fails, the bank will charge for this transaction. Rs 10 and GST will be charged separately on such transactions. Information in this regard has been given by sending messages to the customers on behalf of the bank. Apart from this, a notice has also been issued on the bank’s website. This rule is coming into force from 1 May 2023.

Tata Motors again increased the prices of cars

In terms of sales, the country’s number-3 car company Tata Motors has announced that it is going to increase the prices of all its cars and their models. The company is increasing the prices of all its models by up to 0.6 percent. Tata has increased the prices for the second time this year. Audi is also going to increase the prices of its vehicles. Luxury SUVs Q3 and Q3 Sportback will see a price hike of up to Rs 1 lakh. The Audi Q8 Celebration, Audi RS5 and the Audi S5 will see a price hike of up to Rs 4 lakh.

Brokers will not be able to take new bank guarantees from customers’ money

Brokers used to keep investors’ funds with the bank for guarantee as per their requirement and in such a situation there was a possibility of misuse of common investors’ money. But from May 1, brokers will not be able to do so. Markets regulator SEBI, in a recent circular, has mandated that stock brokers and clearing members can no longer pledge client money with banks as a guarantee. The existing bank guarantee, which is now, will be canceled by 30 September.

Receipt will have to be uploaded in 7 days

Companies whose total turnover is Rs 100 crore or more will now have to upload the electronic invoice ie receipt on the Invoice Registration Portal ie IRP within 7 days from May 1. Till now there was no such deadline. GST Network said that in order to ensure timely compliance, taxpayers falling within the prescribed turnover limit will not get the facility to report uploading of invoices older than seven days. Those who do not do this will not be able to take advantage of Input Tax Credit ie ITC.

The post ATM Card Holders! Big news! New rules have been implemented on ATM from today, charges will be imposed first appeared on Rightsofemployees.com.

These changes include many things from GST rules to ATM transactions etc. Now the companies will have to upload the electronic invoice on the IRP within seven days of the issue of the electronic invoice. PNB’s ATM transaction failure will also be charged from today. Brokers will not be able to take bank guarantees from clients’ money. At the same time, Tata and Audi increased the prices of their vehicles. Let us tell you about the changes from today.

Charges will be levied if ATM transaction fails

Punjab National Bank (PNB) customers are going to get a big shock. If a PNB customer does not have money in his account and does a transaction from an ATM and it fails, the bank will charge for this transaction. Rs 10 and GST will be charged separately on such transactions. Information in this regard has been given by sending messages to the customers on behalf of the bank. Apart from this, a notice has also been issued on the bank’s website. This rule is coming into force from 1 May 2023.

Tata Motors again increased the prices of cars

In terms of sales, the country’s number-3 car company Tata Motors has announced that it is going to increase the prices of all its cars and their models. The company is increasing the prices of all its models by up to 0.6 percent. Tata has increased the prices for the second time this year. Audi is also going to increase the prices of its vehicles. Luxury SUVs Q3 and Q3 Sportback will see a price hike of up to Rs 1 lakh. The Audi Q8 Celebration, Audi RS5 and the Audi S5 will see a price hike of up to Rs 4 lakh.

Brokers will not be able to take new bank guarantees from customers’ money

Brokers used to keep investors’ funds with the bank for guarantee as per their requirement and in such a situation there was a possibility of misuse of common investors’ money. But from May 1, brokers will not be able to do so. Markets regulator SEBI, in a recent circular, has mandated that stock brokers and clearing members can no longer pledge client money with banks as a guarantee. The existing bank guarantee, which is now, will be canceled by 30 September.

Receipt will have to be uploaded in 7 days

Companies whose total turnover is Rs 100 crore or more will now have to upload the electronic invoice ie receipt on the Invoice Registration Portal ie IRP within 7 days from May 1. Till now there was no such deadline. GST Network said that in order to ensure timely compliance, taxpayers falling within the prescribed turnover limit will not get the facility to report uploading of invoices older than seven days. Those who do not do this will not be able to take advantage of Input Tax Credit ie ITC.

The post ATM Card Holders Alert! New rules have been implemented on ATM from today, charges will be imposed first appeared on Rightsofemployees.com.

These changes include many things from GST rules to ATM transactions etc. Now the companies will have to upload the electronic invoice on the IRP within seven days of the issue of the electronic invoice. PNB’s ATM transaction failure will also be charged from today. Brokers will not be able to take bank guarantees from clients’ money. At the same time, Tata and Audi increased the prices of their vehicles. Let us tell you about the changes from today.

Charges will be levied if ATM transaction fails

Punjab National Bank (PNB) customers are going to get a big shock. If a PNB customer does not have money in his account and does a transaction from an ATM and it fails, the bank will charge for this transaction. Rs 10 and GST will be charged separately on such transactions. Information in this regard has been given by sending messages to the customers on behalf of the bank. Apart from this, a notice has also been issued on the bank’s website. This rule is coming into force from 1 May 2023.

Tata Motors again increased the prices of cars

In terms of sales, the country’s number-3 car company Tata Motors has announced that it is going to increase the prices of all its cars and their models. The company is increasing the prices of all its models by up to 0.6 percent. Tata has increased the prices for the second time this year. Audi is also going to increase the prices of its vehicles. Luxury SUVs Q3 and Q3 Sportback will see a price hike of up to Rs 1 lakh. The Audi Q8 Celebration, Audi RS5 and the Audi S5 will see a price hike of up to Rs 4 lakh.

Brokers will not be able to take new bank guarantees from customers’ money

Brokers used to keep investors’ funds with the bank for guarantee as per their requirement and in such a situation there was a possibility of misuse of common investors’ money. But from May 1, brokers will not be able to do so. Markets regulator SEBI, in a recent circular, has mandated that stock brokers and clearing members can no longer pledge client money with banks as a guarantee. The existing bank guarantee, which is now, will be canceled by 30 September.

Receipt will have to be uploaded in 7 days

Companies whose total turnover is Rs 100 crore or more will now have to upload the electronic invoice ie receipt on the Invoice Registration Portal ie IRP within 7 days from May 1. Till now there was no such deadline. GST Network said that in order to ensure timely compliance, taxpayers falling within the prescribed turnover limit will not get the facility to report uploading of invoices older than seven days. Those who do not do this will not be able to take advantage of Input Tax Credit ie ITC.

The post ATM Transaction Rules: New rules have been implemented on ATM from today, charges will be imposed first appeared on Rightsofemployees.com.

These changes include many things from GST rules to ATM transactions etc. Now the companies will have to upload the electronic invoice on the IRP within seven days of the issue of the electronic invoice. PNB’s ATM transaction failure will also be charged from today. Brokers will not be able to take bank guarantees from clients’ money. At the same time, Tata and Audi increased the prices of their vehicles. Let us tell you about the changes from today.

Charges will be levied if ATM transaction fails

Punjab National Bank (PNB) customers are going to get a big shock. If a PNB customer does not have money in his account and does a transaction from an ATM and it fails, the bank will charge for this transaction. Rs 10 and GST will be charged separately on such transactions. Information in this regard has been given by sending messages to the customers on behalf of the bank. Apart from this, a notice has also been issued on the bank’s website. This rule is coming into force from 1 May 2023.

Tata Motors again increased the prices of cars

In terms of sales, the country’s number-3 car company Tata Motors has announced that it is going to increase the prices of all its cars and their models. The company is increasing the prices of all its models by up to 0.6 percent. Tata has increased the prices for the second time this year. Audi is also going to increase the prices of its vehicles. Luxury SUVs Q3 and Q3 Sportback will see a price hike of up to Rs 1 lakh. The Audi Q8 Celebration, Audi RS5 and the Audi S5 will see a price hike of up to Rs 4 lakh.

Brokers will not be able to take new bank guarantees from customers’ money

Brokers used to keep investors’ funds with the bank for guarantee as per their requirement and in such a situation there was a possibility of misuse of common investors’ money. But from May 1, brokers will not be able to do so. Markets regulator SEBI, in a recent circular, has mandated that stock brokers and clearing members can no longer pledge client money with banks as a guarantee. The existing bank guarantee, which is now, will be canceled by 30 September.

Receipt will have to be uploaded in 7 days

Companies whose total turnover is Rs 100 crore or more will now have to upload the electronic invoice ie receipt on the Invoice Registration Portal ie IRP within 7 days from May 1. Till now there was no such deadline. GST Network said that in order to ensure timely compliance, taxpayers falling within the prescribed turnover limit will not get the facility to report uploading of invoices older than seven days. Those who do not do this will not be able to take advantage of Input Tax Credit ie ITC.

The post ATM Withdrawal Rules Changed: New rules have been implemented on ATM from today, charges will be imposed first appeared on Rightsofemployees.com.

Let us see what are the rules applicable from the first of the next month.5 big changes are going to happen from the first date. One of these is the increase in the price of vehicles. Maruti Suzuki, Hyundai Motor, Tata Motors, Mercedes-Benz, Audi, Renault, Kia India and MG Motor will increase the price of their vehicles from January 1, 2023.

The second change is related to the bank locker. You need to ensure that you have signed the new Locker Agreement for using the Bank Locker from 1st date onwards

Apart from this, the rules related to some bank credit cards are also going to change. For example, HDFC Bank will change the rewards point and fee structure of the credit card. Along with this, SBI has also changed some rules for its Simply CLICK card holders.

GST rules will also change from January 1. It will now be necessary for businessmen with an annual turnover of more than 5 crores to generate e-invoices.

It also includes a change related to the phone. From 1st date, registration of IMEI number of every phone will be necessary for every phone manufacturer and its import and export company.

The post Breaking news! These big changes are going to happen from January 1, you will be directly affected, see details first appeared on Rightsofemployees.com.