BharatPe Ex-CEO Ashneer Grover, Family Made Fake Multi-Crore Invoices - Sources
Posted Date : 16-Nov-2023 , 07:44:11 am | Posted By CASANSAAR
The Economic Offences Wing's (EOW) investigation into the alleged fraud at payments firm BharatPe has found a host of unexplained payments made to allegedly fake human resource consultancies by co-founder Ashneer Grover, his wife and the company's former head of controls Madhuri Jain Grover ...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1405
|
 |
GSTN Advisory for Online Compliance Pertaining to ITC mismatch -GST DRC-01C
Posted Date : 16-Nov-2023 , 07:36:32 am | Posted By CASANSAAR
Difference in Input Tax Credit (ITC) available in GSTR-2B & ITC claimed in the GSTR-R3B
Dear Taxpayers,
1. It is informed that GSTN has developed a functionality to generate automated intimation in Form GST DRC-01C which enables the taxpayer to explain the difference in Input tax credi...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 623
|
|
Over 100,000 small and mid-sized businesses flout GST e-invoicing rules
Posted Date : 10-Nov-2023 , 09:02:59 am | Posted By CASANSAAR
Over 100,000 small and medium-sized businesses are non-compliant with e-invoicing norms under the goods and services tax (GST) regime, a mandatory requirement for businesses with an annual turnover of over Rs 5 crore.
E-invoicing provides real-time access to invoices that are prepared by the supp...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 699
|
|
CBIC clarifies on GST implications for electricity charges
Posted Date : 07-Nov-2023 , 09:04:29 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) has clarified that when electricity charges are bundled with renting of immovable property and/or maintenance of premises, it will be considered a composite supply and subject to Goods and Services Tax (GST) at 18%. This is applicable even if th...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 753
|
|
FinMin launches GST Amnesty Scheme for filing appeals against demand orders
Posted Date : 04-Nov-2023 , 10:25:05 am | Posted By CASANSAAR
The finance ministry has come out with an amnesty scheme for filing appeals against Goods and Services Tax (GST) demand orders.
The scheme, which will be open till January 31, 2024, will be available for entities that were unable to submit their appeals against orders issued by the tax officer on...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1182
|
|
GST revenue collection for Oct. 2023 is second highest ever, records increase of 13% Y-o-Y
Posted Date : 01-Nov-2023 , 08:13:06 pm | Posted By CASANSAAR
The gross GST revenue collected in the month of October, 2023 is ? 1,72,003 crore out of which ? 30,062 crore is CGST, ? 38,171 crore is SGST, ? 91,315 crore (including ? 42,127 crore collected on import of goods) is IGST and ? 12,456 crore (includin...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 620
|
|
Remuneration to a director for providing corporate guarantee to be taxed under GST - CBIC
Posted Date : 31-Oct-2023 , 07:23:58 am | Posted By CASANSAAR
Remuneration or consideration received, directly/indirectly by a serving or separated director, for providing corporate guarantee will be treated as taxable value for GST, the Central Board of Indirect Taxes & Customs (CBIC) has said. This is part of a clarificatory circular, sent by CBIC to its...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 431
|
|
GSTN Advisory related to changes in GSTR-5A
Posted Date : 30-Oct-2023 , 08:13:49 am | Posted By CASANSAAR
"Notification 51/2023 dated 29.09.2023 has introduced Table 5B in GSTR 5A w. e. f 01.10.2023. In this notification, Table 5B has been introduced to report supplies made to Registered GSTINs (B2B supplies). This would be implemented shortly at GSTN and till such time, OIDARs are advised to file ...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 326
|
|
Finance Ministry Notifies Prospective 18% GST on Corporate Guarantees
Posted Date : 28-Oct-2023 , 08:07:06 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) has said that Goods and Services Tax (GST) will apply to corporate guarantees between related entities such as parent firms and subsidiaries from Thursday, 26 October. The order gives effect to the decision announced by the GST Council on 8 Octo...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 744
|
|
GST Evasion of Rs 1.36 lakh Cr Detected so Far in FY24 - DGGI
Posted Date : 20-Oct-2023 , 09:51:33 am | Posted By CASANSAAR
The Directorate General of GST Intelligence (DGGI) has detected GST evasion of Rs 1.36 lakh crore so far during the current financial year involving “voluntary payment” of Rs 14,108 crores. The investigation agency under Goods and Services Tax (GST) regime has been working on identifying...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 429
|
|
SC says restaurants not subject to service tax for take away food orders
Posted Date : 13-Oct-2023 , 12:11:50 pm | Posted By CASANSAAR
The Supreme Court has held that restaurants are not subject to service tax for take away food orders and sharing premises with an associated enterprise. While considering a civil appeal, the Supreme Court upheld the ruling of the Customs Excise Service Tax Appellate Tribunal (CESTAT) and dismissed t...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1270
|
|
Facility for the e- commerce operators through whom unregistered suppliers of goods can supply goods - GSTN
Posted Date : 13-Oct-2023 , 11:56:37 am | Posted By CASANSAAR
GSTN has also provided APIs for ECOs (through whom unregistered persons can supply goods) to integrate with GSTN to obtain the details and facilitate the unregistered suppliers. The APIs are for validating the demographic details of the said suppliers and also for use in tracking and repor...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 531
|
|
Facility of enrolment for supply of goods through e-commerce operators by GST un-registered suppliers - GSTN
Posted Date : 13-Oct-2023 , 11:55:29 am | Posted By CASANSAAR
1.In terms of the recent amendments to the Act and the rules and notification number 34/2023 dated 31.07.2023, persons supplying goods through e-commerce operators shall be exempt from mandatory registration under the CGST Act even if they supply goods through e-commerce operators (ECO) if...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 462
|
|
GSTN Advisory - Geocoding Functionality for the Additional Place of Business
Posted Date : 20-Sep-2023 , 07:36:52 am | Posted By CASANSAAR
Dear Taxpayers,
1.GSTN is pleased to inform that the geocoding functionality for the "Additional Place of Business" address is now active across all States and Union Territories. This builds upon the geocoding functionality earlier implemented for the principal place of busine...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 247
|
|
GSTN Advisory - Time limit for Reporting Invoices on the IRP Portal
Posted Date : 16-Sep-2023 , 03:35:19 pm | Posted By CASANSAAR
Dear Taxpayers,
1.It is to inform you that it has been decided by the Government to impose a time limit on reporting old invoices on the e-invoice IRP portals for taxpayers with AATO greater than 100 crores.
2.To ensure timely compliance, taxpayers in this category will n...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 302
|
|
Government notifies 31 Benches of GST Appellate Tribunal
Posted Date : 16-Sep-2023 , 10:07:29 am | Posted By CASANSAAR
The Finance Ministry notified the constitution of 31 Appellate Tribunals across 28 States and eight Union Territories for the Goods and Services Tax (GST) late on Thursday night, setting the stage to resolve a growing number of taxpayer disputes with the Revenue Department.
The establishment of t...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 376
|
|
Goods in Transit can't be Seized under GST law without inquiry - High Court
Posted Date : 12-Sep-2023 , 08:36:21 am | Posted By CASANSAAR
Court rules the items cannot be confiscated without investigation even if the original supplier does not have GST registration.
The case relates to a trader who bought iron scrap from a company in Vijayawada. The Andhra Pradesh High Court has ruled that the goods and services tax (GST) authoritie...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1068
|
|
Govt notifies valuation methodology for calculating GST on online gaming, casino
Posted Date : 07-Sep-2023 , 08:43:17 am | Posted By CASANSAAR
The government on September 1 notified amendments to GST law in relation to the valuation methodology to be adopted by online gaming companies and casinos for calculating tax.
The Ministry of Finance notified amendments to Central GST law for calculating value of supply in case of online gaming a...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 337
|
|
GST revenue rises 11% to Rs 1.59 lakh Cr in August 23
Posted Date : 02-Sep-2023 , 07:21:42 am | Posted By CASANSAAR
The gross GST revenue collected in August is 1,59,069 crore rupees. This includes CGST of 28,328 crores, SGST of 35,794 crores, and IGST of 83,251 crores.
The government has settled 37,581 crores to CGST and 31,408 crores to SGST from IGST. The total revenue of Centre and the States in Augu...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 656
|
|
CBIC Notifies Common Authority to Adjudicate GST Notices from Multiple States
Posted Date : 22-Aug-2023 , 08:29:47 am | Posted By CASANSAAR
In a move that is likely to help firms struggling with GST notices from different states, the Central Board of Indirect Taxes and Customs has started designating a single common authority to deal with similar matters of an assesses who has different GST numbers across the country.
The CBIC ...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 621
|
|
CBI arrests CGST official for demanding Rs 30 lakh bribe
Posted Date : 19-Aug-2023 , 08:01:59 am | Posted By CASANSAAR
The CBI has arrested a CGST official in Mumbai for allegedly demanding Rs 30 lakh as bribe for settling tax issues related to a company based in China, officials said on Friday. Hemant Kumar, the Central Goods and Services Tax (CGST) superintendent, posted at Bhiwandi Commissionerate demanded Rs 30 ...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 573
|
|
Parliament passes bills to levy 28% GST on e-gaming making registration mandatory for offshore platforms
Posted Date : 12-Aug-2023 , 08:24:24 am | Posted By CASANSAAR
Parliament on Friday approved amendments to the Central and Integrated GST laws to levy 28 per cent tax on the full face value of bets in online gaming, casinos and horse race clubs.
The Central GST (Amendment) Bill, 2023, and the Integrated GST (Amendment) Bill, 2023, piloted by Finance Minister...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 947
|
|
Recommendations of 51st GST Council Meeting
Posted Date : 03-Aug-2023 , 08:42:50 am | Posted By CASANSAAR
GST Council recommends certain amendments in CGST Act 2017 and IGST Act 2017, including amendment in Schedule III of CGST Act, 2017, to provide clarity on taxation of supplies in casinos, horse racing and online gaming
GST Council also recommends inserting a specific provision in IGST Act, 2017 t...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1210
|
|
Hostel / PG accommodation to attract 12% GST - AAR
Posted Date : 30-Jul-2023 , 08:53:50 am | Posted By CASANSAAR
Students will have to shell out more for hostel accommodation as a 12 per cent GST would be applicable on the rent paid, the Authority of Advance Ruling said in two separate cases.
The Bengaluru bench of the Authority of Advance Ruling (AAR) said hostels are not akin to residential dwelling units...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 681
|
|
E- invoicing under GST mandatory for businesses with aggregate turnover of Rs 5 Cr from August 1
Posted Date : 29-Jul-2023 , 07:19:03 am | Posted By CASANSAAR
Starting August 1, businesses with aggregate turnover of Rs 5 crore or more will have to mandatorily opt for e-invoicing under the Goods and Services Tax (GST).
“GST taxpayers whose aggregate turnover exceeds Rs 5 crore in any financial year ... Generating e-invoices for both supply o...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 476
|
|
Govt to set up online audit mechanism under GST, - arliamentary panel
Posted Date : 28-Jul-2023 , 07:22:10 am | Posted By CASANSAAR
The Union government will set up an online audit mechanism under the Goods and Services Tax (GST) in order to streamline the process, as suggested by a parliamentary panel in its report on ‘anti-competitive practices by the big tech companies’.
“The ministry has accepted the rec...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 347
|
|
GST evasion by nearly 15,000 entities worth Rs 38,000 Cr detected
Posted Date : 26-Jul-2023 , 06:54:32 am | Posted By CASANSAAR
Even as tax authorities plan to plug loopholes to tighten compliance for goods and services tax (GST), they have already identified nearly 15,000 entities and have detected evasion of more than Rs 38,000 crore over the years. This includes fraudulent cases of GST registration by misusing PAN and Aad...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 298
|
|
e-Invoice Exemption Declaration Functionality Now Available - GSTN
Posted Date : 25-Jul-2023 , 07:53:01 am | Posted By CASANSAAR
Dear Taxpayers,
1.GSTN is pleased to inform you that the e-Invoice Exemption Declaration functionality is now live on the e-Invoice portal. This functionality is specifically designed for taxpayers who are by default enabled for e-invoicing but are exempted from implementing it under th...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 569
|
|
Recommendations of 50th Meeting of GST Council
Posted Date : 12-Jul-2023 , 07:03:37 am | Posted By CASANSAAR
In the 50th Meeting of the GST Council, inter-alia the following recommendations relating to changes in GST tax rates, measures for facilitation of trade and measures for streamlining compliances in GST were made:
Changes in GST Tax Rates:
Recommendations relating to GST rate...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 425
|
|
GST Council agrees to levy 28 per cent tax on online gaming on full face value
Posted Date : 11-Jul-2023 , 09:21:32 pm | Posted By CASANSAAR
The GST Council on Tuesday agreed to levy a 28 per cent tax on online gaming, casinos and horse racing and the tax would be levied on full face value.
West Bengal finance minister Chandrima Bhattacharya said the Council has also approved the exemption of GST on import of cancer drug Dinutuximab...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 325
|
|
|
