Download or read book Taxmann's Analysis | Changes Proposed Under GST in the Finance Bill 2024 written by Taxmann and published by Taxmann Publications Private Limited. This book was released on 2024-02-03 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Finance Minister presented the Interim Budget for the fiscal year 2024-25 on February 1, 2024, introducing minimal amendments to the taxation laws. Notably, a couple of significant amendments are proposed in the realm of indirect taxes. This article provides an in-depth analysis of the changes proposed in GST by the Finance Bill 2024, which includes: ‣ Mandating distribution of common ITC on services through the ISD mechanism, which was previously optional. ‣ Additionally, a substantial penalty has been proposed for tobacco manufacturers who fail to register their machines by the specified procedure.