How to reply to the GST Dept Notices on ITC
Posted Date : 14-Feb-2020 , 10:54:28 am | Posted By CASANSAAR
How to reply to the GST Dept Notices on ITC explained by CA. Mohit Gupta.
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Govt to raise Rs.46,000 Cr as late GST payment interest
Posted Date : 13-Feb-2020 , 08:41:12 am | Posted By CASANSAAR
The government has discovered a new revenue stream to make up for the shortfall in GST collection and is looking to collect Rs.46,000 crore as interest on late payment of tax.
Tax experts disputed the number saying government had promised to hand-hold the taxpayers at the time of migration to the...
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GST |
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Regulation of irregularities in GST claims
Posted Date : 11-Feb-2020 , 06:22:37 pm | Posted By CASANSAAR
To identify cases of fraudulent claims under Goods & Services Tax (GST), the Government of India has taken measures to apply stringent risk parameters-based checks driven by rigorous data analytics and Artificial Intelligence (AI) tools based on which certain taxpayers are taken up for further v...
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SC directs Centre to resolve technical difficulties In GST Portal
Posted Date : 11-Feb-2020 , 09:40:08 am | Posted By CASANSAAR
The Supreme Court on Monday directed the Central Government to resolve the technical glitches in the online filing of returns of Goods and Services Tax.
A bench comprising Justices Rohinton Fali Nariman and S Ravindra Bhat passed the direction while allowing the Centre's application for stayi...
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GST |
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GST on Notice Pay Recovery
Posted Date : 10-Feb-2020 , 10:25:11 am | Posted By CASANSAAR
GST on Notice Pay Recovery explained by CA. Bhavesh Mittal.
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GSTN sets up panel to improve IT system
Posted Date : 10-Feb-2020 , 10:16:04 am | Posted By CASANSAAR
The Goods and Services Tax Network (GSTN) has announced setting up of a consultative committee to suggest ways to improve the functioning of its info-tech system.
The Committee will provide feedback and suggestions on new functionalities in the GST system and adoption of new IT tools. Members wil...
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GST |
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GST collection for last 3-months amounted to over Rs 1 lakh Cr each month
Posted Date : 10-Feb-2020 , 10:09:23 am | Posted By CASANSAAR
Union Finance Minister Nirmala Sitharaman has said that GST collection all through the country for the last three months amounted to more than a lakh crore rupees each month.
Speaking to reporters in Chennai today, she told that no state was sidelined when it came to sharing of revenue from...
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GST |
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CBIC extend the time limit for submitting Tran 01 till 31.03.2020
Posted Date : 08-Feb-2020 , 03:50:54 pm | Posted By CASANSAAR
CBIC vide Order No. 01/2020–GST dated 07.02.2020, extends the time limit for submitting Tran 01 till 31.03.2020 for registered person who could not submit the form due to technical difficulties
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SLP Filed before SC against the order of Rajasthan HC
Posted Date : 07-Feb-2020 , 10:24:05 am | Posted By CASANSAAR
SLP has been Filed before Supreme Court of India against the order of Rajasthan HC regarding acceptance of GSTR-9 and GSTR-9C without late fees till February 12, in the matter of Tax Bar Association Vs UOI.
The Jodhpur bench of the Rajasthan High Court has directed the Revenue department to ...
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GST |
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Govt likely to introduce lottery system to boost GST compliance soon
Posted Date : 05-Feb-2020 , 09:43:52 am | Posted By CASANSAAR
In a bid to encourage customers to ask for bills while making a purchase, the government is planning to introduce a lottery system, offering between Rs 10 lakh-one crore under the Goods and Services Tax (GST). Interim chairman of the Central Board of Indirect Taxes (CBIC) John Joseph said the govern...
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GST |
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Man held for using fake invoices worth Rs 1,200 Cr - Delhi GST Officers
Posted Date : 04-Feb-2020 , 09:01:49 am | Posted By CASANSAAR
A man has been arrested here for allegedly using fake invoices worth over Rs 1,200 crore to get tax benefits, an official statement said on Monday.
Daya Shankar Kushwaha, who was arrested by tax officers recently, used a network of 49 shell firms for defrauding the government, it said.
"T...
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GST |
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CBIC extends GSTR-9 and GSTR-9C filing dates to February 5 and 7
Posted Date : 04-Feb-2020 , 08:49:44 am | Posted By CASANSAAR
The due dates for GSTR9 and 9C has been extended further in a staggered format. In a tweet CBIC says, the due dates for GSTR-9 and GSTR-9C for FY 2017-18 are being extended in a staggered manner for different groups of States to 5th and 7th February 2020.
The new due dates for Chandigarh, Delhi, ...
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GST |
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Govt to release due GST compensation to states in 2 installments
Posted Date : 03-Feb-2020 , 09:34:24 pm | Posted By CASANSAAR
The Centre will release all due GST compensation to states in two instalments, Union Minister Anurag Thakur said in Lok Sabha on Monday.
The reply came after MPs from Telangana and Odisha complained during Question Hour that their states were not getting the share of the Goods and Services Tax (G...
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GST |
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Analysis of GST Proposals under Union Budget 2020
Posted Date : 03-Feb-2020 , 09:27:56 am | Posted By CASANSAAR
Analysis of GST Proposals under Union Budget 2020 explained by CA. Gaurav Gupta with CA. Vivek Khurana.
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Rs.1,10,828 Cr GST Gross Revenue collected for January, 2020
Posted Date : 01-Feb-2020 , 02:41:41 pm | Posted By CASANSAAR
The gross GST revenue collected in the month of January, 2020 is Rs. 1,10,828 crore of which CGST is Rs. 20,944 crore, SGST is Rs. 28,224 crore, IGST is Rs. 53,013 crore (including Rs. 23,481 crore collected on imports) and Cess is&nbs...
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GSTR-9 & GSTR-9C due dates extended in a Staggered manner
Posted Date : 01-Feb-2020 , 07:32:08 am | Posted By CASANSAAR
Considering the difficulties being faced by taxpayers in filing GSTR-9 and GSTR-9C for FY 2017-18 it has been decided to extend the due dates in a staggered manner for different groups of States to 3rd, 5th and 7th February 2020 as under. Notifications will follow.
Group 1: Maharashtra, Karnataka...
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GST |
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FinMin summons Infosys on GST tech glitches
Posted Date : 31-Jan-2020 , 08:56:28 am | Posted By CASANSAAR
With complaints rising against the IT system of Goods & Service Tax (GST), the Finance Ministry has summoned Infosys on Friday to seek an explanation. Infosys is the technology service provider for GST.
According to FinMin sources, the Finance Ministry has called CN Raghupati, Senior Vice-Pre...
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Changes in GST applicable w e f 01st January 2020
Posted Date : 30-Jan-2020 , 10:41:38 am | Posted By CASANSAAR
Changes in GST applicable wef 01st January 2020 eplained by CA Mohit Gupta.
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Simplification of GSTR 9 & GSTR 9C Discussion on tweets by GST Tech
Posted Date : 28-Jan-2020 , 09:51:42 am | Posted By CASANSAAR
Simplification of GSTR-9 & GSTR-9C Discussion on tweets by GST Tech On 27/01/2020 by CA Mohit Gupta.
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Analysis of Rule 86A - Blocking of ITC
Posted Date : 28-Jan-2020 , 09:13:11 am | Posted By CASANSAAR
Fraudulent इनपà¥à¤Ÿ पे सरकार का वार!!! Fake Supplier खबरदार .
Analysis of Rule 86A - Blocking of ITC by CA. Bhavesh Mittal.
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GST |
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Govt blocks Rs 40,000 Cr GST claims on returns mismatch
Posted Date : 28-Jan-2020 , 09:11:09 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) has frozen tax credits of around Rs 40,000 crore as the returns did not match, exposing alleged fraud by close to 2,000 entities, apart from cases where returns were not filed. Last week, the indirect tax wing of the revenue department blocked t...
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GST |
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Stagger dates for filing GSTR 3B
Posted Date : 25-Jan-2020 , 10:27:07 am | Posted By CASANSAAR
Stagger dates for filing GSTR 3B explained by CA.Bhawna Kindra.
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GST authorities to block GST Credit of over 1,000 Taxpayers
Posted Date : 25-Jan-2020 , 10:17:05 am | Posted By CASANSAAR
The government has asked GST authorities to block input tax credit of about 1,000 taxpayers who have allegedly claimed more credit than they were eligible for, according to a senior official.
The Central Board of Indirect Taxes and Customs has asked every commissionerate to identify top 20 taxpay...
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Now the GST Taxpayers can file their GSTR-3B Returns in a Staggered Manner
Posted Date : 22-Jan-2020 , 07:22:16 pm | Posted By CASANSAAR
Considering the difficulties faced by trade and industry in filing of returns, the government has decided to introduce several measures to ease the process. The Finance Ministry today said that now GST taxpayers can file their GSTR-3B returns in a staggered manner.
Presently the last date of fili...
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GST |
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Govt saves Rs 350 Cr fake IGST refund due to untraceable of over 1200 exporters
Posted Date : 15-Jan-2020 , 10:30:02 pm | Posted By CASANSAAR
Revenue Department using its data analytics has discovered a fraud in GST refunds with as many as 1,200 exporters, who have have claimed Rs 350 crore refunds, are now untraceable.
The department has reasons to consider that nefarious elements among the customs broker community may be connected wi...
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GST |
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HC clears confusion over contentious issue of composite supply under GST
Posted Date : 15-Jan-2020 , 09:03:11 am | Posted By CASANSAAR
The Kerala high court has tried to clear the air over the contentious issue of composite supplies under the Goods and Services Tax (GST) which experts say may become guiding principles to decide cases in litigation.
If more than one good or service are supplied by a company, these could be consid...
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GST |
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CBIC extends waiver of GSTR-1 late fee
Posted Date : 11-Jan-2020 , 10:22:55 am | Posted By CASANSAAR
The Central Board of Excise and Customs (CBIC) extended the last date for waiving late fee on filing of output supplies statements through Form GSTR 1 for the period between July 2017 and November 2019, by a week to January 17.
More than 54 lakh filings under goods and services tax (GST) were rec...
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GST |
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Tax authorities step up heat on erring businesses with GST Audit
Posted Date : 09-Jan-2020 , 07:13:30 am | Posted By CASANSAAR
Goods and Services Tax (GST) authorities have started audit of businesses for FY18, the year of the indirect tax reform, indicating that erring assessees will now be held accountable for lapses in tax payment and record keeping. GST audits are being initiated as part of the government’s drive ...
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GST |
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2nd National GST Conference held for streamlining GST system
Posted Date : 08-Jan-2020 , 09:33:36 am | Posted By CASANSAAR
The 2nd National GST Conference of the Commissioners of State Tax and Chief Commissioners of Central Tax was held here today under the chairmanship of Dr Ajay Bhushan Pandey, Revenue Secretary, Ministry of Finance.
The multi-faceted Conference was focused on brainstorming session for strea...
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GST |
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Revenue department unearths IGST refund fraud by top exporters
Posted Date : 07-Jan-2020 , 09:06:20 am | Posted By CASANSAAR
During a crackdown to check the misuse of IGST (Integrated Goods and Service Tax) funds by star exporters, the Central Board of Indirect Taxes (CBIC), through a sample study of 241 cases, has identified at least 9 star export houses that are untraceable and 82 such exporters whose declarations befor...
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