• Notification Date: 27-01-2024
• Notification No: N/A

ICAI Publishes New GST Act(s) & Rule(s) Bare Law January 2024 Edition

The Institute of Chartered Accountants of India (ICAI) has released the latest Goods and Services Tax Act – GST Acts and Goods and Services Tax Rules – GST Rules, January 2024 Edition (Seventh Edition). In a transformative move towards a simplified tax landscape, the Goods and Services Tax (GST) in India has seen continuous evolution since its implementation.  

The ICAI, particularly through its GST & Indirect Taxes Committee, played a pivotal role in the successful implementation of GST. The committee has consistently provided constructive feedback to the Government, organised various events and courses, and produced detailed publications on GST-related topics. Their commitment to GST awareness and knowledge dissemination is evident through regular updates and technical publications. Excitingly, the committee has recently revised its publication, “GST Act(s) and Rule(s) – Bare Law,” incorporating the latest provisions up to December 2023. CA. Aniket Sunil Talati, President of ICAI, expressed his appreciation for the diligent work of the committee members, especially Chairman CA. Sushil Kumar Goyal and Vice Chairman CA. Umesh Sharma.  

The seventh edition of the publication serves as a valuable resource for practitioners and readers, offering updated legislative information to navigate the complexities of the GST framework effectively. The committee’s proactive approach is reflected in the recently revised publication, “GST Act(s) & Rules(s) – Bare Law,” January 2024 edition. Updated with notifications until December 2023, it encompasses the entire spectrum of GST laws, ensuring readers have access to the latest information. CA. Umesh Sharma and CA. Sushil Kumar Goyal, Vice-Chairman and Chairman of the GST & Indirect Taxes Committee, respectively, express gratitude to CA. Aniket Sunil Talati, President, ICAI, for unwavering support. They also acknowledge the efforts of the committee members and the Secretariat for their vital roles in updating the publication. Designed as a comprehensive, multi-stage, destination-based indirect tax, GST has successfully subsumed various taxes, creating a unified and simplified tax regime. CA. Aniket Sunil Talati, President, ICAI, announced the revision of the “GST Act(s) and Rules(s) – Bare Law” publication, amended until March 31, 2023. Acknowledging the contributions of CA. Sushil Kumar Goyal, Chairman, and CA. Umesh Sharma, Vice-Chairman, along with other committee members, Talati expressed confidence in the publication’s usefulness for professional duties.  

This sixth edition publication serves as a comprehensive resource, covering the entire spectrum of GST laws, including constitutional amendments, acts, rules, and recent amendments. As GST continues to evolve in India, the efforts of professionals like ICAI and its GST & Indirect Taxes Committee remain crucial in providing updated resources and knowledge dissemination. The revised publications stand as valuable tools for practitioners navigating the dynamic landscape of GST, ensuring they are equipped with the latest information for effective compliance. The commitment of these organisations reflects the collaborative effort towards a user-friendly and efficient tax system in the country.