SC issues notices on plea challenging anti-profiteering provisions
Posted Date : 20-Apr-2024 , 06:47:11 am | Posted By CASANSAAR
The Supreme Court on Friday issued notices to the central government, the Central Board of Indirect Taxes and Customs (CBIC), the Goods and Services (GST) Council and the National Anti-Profiteering Authority (its functions have been taken over by the Competition Commission of India) on a petition ch...
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Malabar Parota to attract 5% GST and not 18%, rules Kerala HC
Posted Date : 18-Apr-2024 , 11:18:55 am | Posted By CASANSAAR
The delectable Malabar Parota will taste even better with the Kerala High Court ruling that the popular flatbread will attract GST at 5 per cent and not 18 per cent. With this the court has turned down order by the State’s Authority of Advance Ruling (AAR) and Appellate Authority for Advance R...
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GST |
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Businessman arrested in Rs.15,000 Cr GST fraud case, Claimed ITC through 35 fake Companies
Posted Date : 13-Apr-2024 , 08:40:47 am | Posted By CASANSAAR
A businessman from Delhi was taken into custody by the Noida police for his alleged involvement in a massive Rs 15,000 crore GST fraud that was exposed last year, TOI reported. Tushar Gupta, aged 39 and residing in Tilak Nagar, was arrested as the 33rd suspect in this case.
The police revealed th...
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GST |
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Govt extends implementation of special registration, return filing for pan masala, gutkha companies
Posted Date : 12-Apr-2024 , 07:56:31 am | Posted By CASANSAAR
The government has extended the deadline for implementation of special procedure for registration and monthly return filing of manufacturers of pan masala, gutkha and similar tobacco products till May 15.
Earlier in January, the Central Board of Indirect Taxes and Customs (CBIC) had announced the...
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GST |
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GSTN Advisory for Self Enablement For e-Invoicing
Posted Date : 04-Apr-2024 , 06:35:54 am | Posted By CASANSAAR
1. If your turnover exceeds INR 5 crores in the financial year 2023-2024, you will be required to start e-Invoicing from the next financial year, i.e., from 1st April 2024 onwards
2. For those who meet the notification criteria but have not yet been enabled on the po...
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March 24 GST collection grows 11.5% to Rs 1.78 trillion - FinMin
Posted Date : 01-Apr-2024 , 08:05:45 pm | Posted By CASANSAAR
The Gross Goods and Services Tax (GST) collection in March registered a 11.5 per cent year-on-year growth at Rs 1.78 trillion, the Finance Ministry informed on Monday.
Driven by significant increase in tax collections from domestic transactions, it was the second-highest GST collection ever...
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CBI books 3 GST officials for demanding Rs 22 lakh bribe
Posted Date : 27-Mar-2024 , 04:12:07 pm | Posted By CASANSAAR
The CBI has booked two superintendents of central GST along with another official for allegedly demanding a sum of Rs 22 lakh from a bullion trader to settle a dispute.
The accused individuals have been identified as Satish Sharma and Ankur Godyan, both serving as superintendents of central GST a...
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GST |
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Two Multimillionaires Masterminds arrested in Rs. 10,000 Cr GST fraud case
Posted Date : 22-Mar-2024 , 07:36:27 am | Posted By CASANSAAR
The two suspects are multimillionaires, owning metal and scrap factories. Over the last three years, they have caused huge loss to the government by availing of ITCs fraudulently.
With the arrest of two Haryana-based businessmen, the Noida Police on Wednesday evening claimed to have nabbed the &l...
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GST |
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GSTN Advisory on GSTR-1/IFF - Introduction of New 14A and 15A tables
Posted Date : 12-Mar-2024 , 09:06:33 pm | Posted By CASANSAAR
It is informed to all taxpayers that as per Notification No. 26/2022 – Central Tax dated 26th December 2022 two new Table 14A and Table 15A have been introduced in GSTR-1 to capture the amendment details of the supplies made through e-commerce operators (ECO) on which e-commerce operators are ...
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GST |
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Pay 6% Interest for delayed GST Refund - HC directs GST Department
Posted Date : 10-Mar-2024 , 08:06:27 am | Posted By CASANSAAR
The Delhi High Court has directed the GST department to pay 6% interest on delayed IGST refund.
The bench of Justice Sanjeev Sachdeva and Justice Ravinder Dudeja has observed that Section 56 of the CGST/DGST Act deals with the interest on delayed refunds. It provides that if any tax ordered to be...
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GST |
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FinMin Sitharaman asks CBIC to settle classification issues
Posted Date : 06-Mar-2024 , 08:55:41 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman has asked enforcement heads of state and central goods and services tax (GST) to settle tax cases linked to classification at its earliest.
In her address at a conference of enforcement chief of the state and the central GST formations in New Delhi, she told of...
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GST |
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GST revenue collected during February 2024 gross Rs. 1,68,337 Cr
Posted Date : 01-Mar-2024 , 09:09:02 pm | Posted By CASANSAAR
Gross Goods and Services Tax (GST) revenue collected for February 2024 is ?1,68,337 crore, marking a robust 12.5% increase compared to that in the same month in 2023. This growth was driven by a 13.9% rise in GST from domestic transactions and 8.5% increase in GST from import of goods...
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GST |
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SC issues notice to central govt on GST anti-profiteering provisions
Posted Date : 14-Feb-2024 , 08:32:40 am | Posted By CASANSAAR
The Supreme Court on Monday issued a notice to the union government in a case relating to the constitutional validity of anti-profiteering provisions under the goods and services tax (GST).
A three-judge bench comprising Chief Justice D Y Chandrachud, Justice J B Pardiwala and Justice Manoj Misra...
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GST |
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CBIC cautions against fake GST summons, asks to check communications
Posted Date : 12-Feb-2024 , 07:35:34 am | Posted By CASANSAAR
The CBIC cautioned against fraudsters issuing fake GST summons and asked taxpayers to check the veracity of any communication received from GST authorities.
In a statement, the Central Board of Indirect Taxes and Customs (CBIC) said the Directorate General of GST Intelligence (DGGI) has recently ...
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GST |
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GST authorities issue notices over input tax credit discrepancies
Posted Date : 08-Feb-2024 , 07:26:30 am | Posted By CASANSAAR
Goods and services tax (GST) authorities have issued notices to several companies for discrepancy in claim of input tax credit, or ITC, people aware of the matter said. This follows close scrutiny of input tax availed by the companies and mismatch with their annual return.
GST authorities have is...
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GST |
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GST Council may consider pan-India rollout of biometric-based authentication for registration - CBIC
Posted Date : 02-Feb-2024 , 09:45:15 pm | Posted By CASANSAAR
The GST Council may take up a proposal to make biometric-based Aadhaar authentication mandatory pan-India for suspicious persons, seeking GST registration, CBIC chief Sanjay Kumar Agarwal said on Friday.
Currently, two states — Gujarat and Andhra Pradesh — and the Union Territory of P...
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GST |
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Rs. 1,72,129 Cr gross GST revenue collected during January 2024
Posted Date : 31-Jan-2024 , 09:31:58 pm | Posted By CASANSAAR
The gross GST revenue collected in the month of January, 2024 (till 05:00 PM of 31.01.2024) is Rs.1,72,129 crore, which shows a 10.4% Year-o-Year (Y-oY) growth over the revenue of Rs.155,922 crore collected in January 2023 (till 05:00 PM on 31.01.2023).
Notably, this is the...
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GST |
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High Court upholds provisions of anti-profiteering under GST
Posted Date : 31-Jan-2024 , 09:05:16 am | Posted By CASANSAAR
The Delhi High Court on Monday upheld the constitutional validity of the provisions related to anti-profiteering under the Central Goods and Services Tax Act and the establishment of National Anti-Profiteering Authority
In a setback to over 100 companies, including Hindustan Unilever (HUL), Nestl...
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GSTN Advisory on Urgent Submission of Bank Details to Avoid GSTIN Suspension
Posted Date : 24-Jan-2024 , 07:16:58 am | Posted By CASANSAAR
Advisory for furnishing bank account details by registered taxpayers under Rule 10A of the Central Goods and Services Tax Rules, 2017.
Mandatory Bank Account Details Submission as per law: All Registered Taxpayers are required under the provisions of CGST Act, 2017 and the corresponding Rules fra...
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GST |
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GSTN Advisory on Payment through Credit Card (CC)/Debit Card (DC) and Unified Payments Interface (UPI)
Posted Date : 20-Jan-2024 , 08:31:23 am | Posted By CASANSAAR
To facilitate the taxpayer registered under GST with more methods of payment, two new facilities of payment have now been provided under e-payment in addition to net-banking.
The two new methods are Cards and Unified Payments Interface (UPI). Cards facility includes Credit Card (CC) and Debit C...
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GST |
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GST authorities drop plans to enforce stricter e-way bill norms
Posted Date : 11-Jan-2024 , 06:46:07 pm | Posted By CASANSAAR
Goods and Services Tax (GST) authorities have dropped a plan to block generation of goods transportation permits, or e-way bills, from 1 March for companies that fail to produce 'e-invoices' for their wholesale transactions through designated portals. These portals aid in more accurate data ...
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GST |
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29,273 bogus firms, GST evasion of Rs 44,015 Cr detected since May 2023
Posted Date : 08-Jan-2024 , 07:54:56 am | Posted By CASANSAAR
Goods and Services Tax (GST) authorities have detected 4,153 bogus firms involved in suspected evasion of input tax credit (ITC) worth around Rs 12,036 crore during October-December 2023, the Ministry of Finance said in a statement Sunday. While Maharashtra is in the top spot among 36 states and uni...
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GSTN Advisory on the functionalities available on the portal for the GTA taxpayers
Posted Date : 03-Jan-2024 , 08:27:08 am | Posted By CASANSAAR
Dear Taxpayers,
The following Functionalities are made available on the portal for the GTA Taxpayers.
To Access: Post login on the FO portal-Click YES on the pop up message on post login (or) Navigate to Services>>User Services>>GTA>>Opting Forwa...
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GST |
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Zomato receives Rs. 402 Cr show cause notice for unpiad GST on delivery charges collected from customers
Posted Date : 28-Dec-2023 , 08:50:41 am | Posted By CASANSAAR
Online delivering platform Zomato Ltd, on December 28, announced that it has received show cause notice (SCN) from theGoods and Services Tax (GST) office for supposed tax liability of ?401.7 crore, in addition to interest and penalty on the delivery fee collection from its customer from the period o...
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GST |
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GST Amnesty Scheme appeals applicable till 31st January 2024
Posted Date : 27-Dec-2023 , 08:10:23 am | Posted By CASANSAAR
In a bid to assist taxpayers grappling with Goods and Services Tax (GST) issues, the Central Board of Indirect Taxes and Customs (CBIC) has introduced a significant amnesty scheme. This initiative allows specified GST taxpayers to lodge appeals against GST tax demand orders until January 31, 2024.
...
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GST |
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GST Act amendments to strengthen tribunals passed by Parliament
Posted Date : 21-Dec-2023 , 08:29:50 am | Posted By CASANSAAR
The Rajya Sabha on Wednesday passed the Central Goods and Services Tax (Second Amendment) Bill, 2023, which seeks to increase the upper age limit of president and members of the GST Appellate Tribunal and allows advocates with 10 years of experience to be eligible to become a member of the tribunal....
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Supreme Court quashes GST department's plea against HC order on input tax credit
Posted Date : 19-Dec-2023 , 08:38:39 am | Posted By CASANSAAR
The Supreme Court has quashed a petition filed by the authorities against a Calcutta High Court ruling that said that input tax credit (ITC) to a buyer cannot be denied on the ground that a seller has not paid tax under the goods and services tax (GST) regime unless there was a proper investigation....
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GST |
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21,791 fake GST registrations, suspected tax evasion of Rs 24,000 Cr detected in special drive
Posted Date : 06-Dec-2023 , 08:33:50 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman on December 5 said GST officers have detected 21,791 fake GST registrations and over Rs 24,000 crore of suspected tax evasion during a two-month-long special drive. In a written reply to a question in Rajya Sabha, the minister said to safeguard the interest of hon...
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GST |
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GSTN Advisory for the procedures and provisions related to the GST Amnesty Scheme
Posted Date : 30-Nov-2023 , 07:35:33 am | Posted By CASANSAAR
Advisory for the procedures and provisions related to the amnesty for taxpayers who missed the appeal filing deadline for the orders passed on or before March 31, 2023.
1. Amnesty for Taxpayers: The GST Council, in its 52nd meeting, recommended granting amnesty to taxpayers who...
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Faceless scrutiny assessment under GST may take some time - GSTN
Posted Date : 23-Nov-2023 , 07:09:48 am | Posted By CASANSAAR
GST authorities may take some time to introduce faceless scrutiny assessment of tax returns filed under Goods and Services Tax (GST), a senior official said on Wednesday. The faceless assessment — under which there is no physical interaction between the tax officer and the assessee and no phys...
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