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News Category : GST

Canteen supplies provided by outside vendors to attract 18% GST - AAR
Posted Date : 22-May-2018 , 08:40:34 am | Posted By CASANSAAR

The Authority of Advanced Ruling (AAR) for the goods and services tax (GST) has ruled that firms supplying food and beverages to canteens of other organisations are ‘outdoor caterers’ and the service would attract an 18% GST. The ruling was delivered by Gujarat AAR on an application f...

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Category : GST | Comments : 0 | Hits : 13

Damages paid for cancellation contract to attract 18% GST - AAR
Posted Date : 22-May-2018 , 07:42:32 am | Posted By CASANSAAR

The Authority for Advance Rulings (AAR) has ruled that payments in respect to nonperformance of a contract would be liable to goods and services tax (GST). This has made multinational companies, especially those executing infrastructure projects, and the mining sector jittery, and it could have impl...

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Category : GST | Comments : 0 | Hits : 13

GST Council asks Centre, states to quickly set up appellate authorities
Posted Date : 21-May-2018 , 09:10:45 am | Posted By CASANSAAR

The GST Council has asked the Centre and states to expedite setting up of appellate authorities for aggrieved entities to appeal against orders of the Authority for Advance Rulings (AAR). With AARs in different states started giving rulings since March, it has become imperative for the Centre as ...

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Category : GST | Comments : 0 | Hits : 121

Coaching centres for entrance exams liable to 18% GST - AAR
Posted Date : 19-May-2018 , 11:12:18 am | Posted By CASANSAAR

Coaching centres providing tuition to prepare students for entrance examination are liable to pay 18 percent GST, according to the Authority for Advance Rulings (AAR). An application was filed before the Maharashtra bench of the AAR to seek advance ruling on whether the services related to provid...

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Category : GST | Comments : 0 | Hits : 187

GSTR-3B due date extended till 22nd May 2018
Posted Date : 18-May-2018 , 11:24:09 am | Posted By CASANSAAR

In the interest of taxpayers, it has been decided to extend the last date for filing of return in FORM GSTR-3B for the month of April, 2018 for two days, i.e., till 22nd May, 2018. The notification in this regard shall be published shortly. Earlier it was brought to the notice of the competent au...

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Category : GST | Comments : 0 | Hits : 370

Free banking services out of GST Net - FinMin
Posted Date : 16-May-2018 , 09:18:51 am | Posted By CASANSAAR

Free banking services like cheque book issuance and ATM withdrawals are likely to remain out of the ambit of the Goods and Services Tax, a senior finance ministry official said. The Department of Financial Services had approached its revenue counterpart to clear the confusion over the levy of GST...

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Category : GST | Comments : 0 | Hits : 591

Roll out of e-Way Bill system for intra-State movement of goods in the States of Assam & Rajasthan
Posted Date : 15-May-2018 , 10:13:48 am | Posted By CASANSAAR

As per the decision of the GST Council, e-Way Bill system for inter-State movement of goods has been rolled out from 01st April, 2018. As on 13th May, 2018, e-Way Bill system for intra-State movement of goods has been rolled out in the States/ Union Territory of Andhra Pradesh, Arunachal Pradesh, Bi...

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Category : GST | Comments : 0 | Hits : 419

28% GST to be levied on e-rickshaw tyres - AAR
Posted Date : 14-May-2018 , 08:51:43 am | Posted By CASANSAAR

E-rickshaw tyres will attract GST at the highest slab of 28 per cent as they are registered as 'motor vehicles' under the Motor Vehicle Act, according to the order of the Authority for Advance Rulings (AAR). The Maharastra-bench of the AAR passed the order on an application filed by tyre-...

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Category : GST | Comments : 0 | Hits : 522

No consensus on GST concession for digital payments
Posted Date : 12-May-2018 , 09:10:30 am | Posted By CASANSAAR

The Group of State Finance Ministers, which met here on Friday to decide on providing a 2 percentage point concession in the GST rate for digital payments, could not reach a consensus. “We need some more data to arrive at a decision,” Sushil Kumar Modi, Deputy Chief Minister of Bihar ...

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Category : GST | Comments : 0 | Hits : 307

Banks under taxman scanner for GST refund on ATM transactions
Posted Date : 11-May-2018 , 10:20:27 am | Posted By CASANSAAR

 The indirect tax department’s investigation arm is scrutinising the GST credit availed by banks on taxes paid by their ATM vendors and could soon ask banks to cut the credit availed by them, two people with direct knowledge of the matter said.  The taxmen are examining whether ba...

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Category : GST | Comments : 0 | Hits : 550

CBIC releases the list of e-way bill system grievance redressal officers
Posted Date : 10-May-2018 , 11:51:01 am | Posted By CASANSAAR

Central Board for Indirect Taxes and Custom (CBIC) has released list of grievance redressal Officers and their contact numbers for e-way bill system under rule 138D of Central/ State GST Rules, 2017. The list include, name of the concerned officer, designation, email id and contact landline numbe...

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Category : GST | Comments : 0 | Hits : 432

Food items served on train to attract full GST rate - AAR
Posted Date : 09-May-2018 , 08:41:17 am | Posted By CASANSAAR

Supply of food and beverages in trains will face goods and services tax as applicable on such items and not the concessional rate of 5% as specified by the government through a circular, Authority for Advance Rulings (AAR) said on Tuesday.  A train is a medium of transport and cannot be term...

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Category : GST | Comments : 0 | Hits : 404

Govt may seek explanations for discrepancy in Income Tax, GST returns
Posted Date : 08-May-2018 , 10:17:22 pm | Posted By CASANSAAR

In a bid to boost measures against tax evasion, the government may ask taxpayers to explain any discrepancies between their income tax and GST returns. For this, the authority is looking to add a section in annual GSTR 9 form, reported Mint. GSTR 9 is a return to be filed once a year by registere...

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Category : GST | Comments : 0 | Hits : 472

GSTN to rope in private entities for tax payer profiling, fraud analytics
Posted Date : 08-May-2018 , 10:32:42 am | Posted By CASANSAAR

GST Network has invited bids from private entities for "360-degree" profiling of taxpayers for early detection of fraud as it seeks to transform into an end-to-end platform for checking GST evasion, from being just a tax collection portal. The analytics company to be roped in will have ...

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Category : GST | Comments : 0 | Hits : 228

Coaching Classes are liable to 18% GST - AAR
Posted Date : 07-May-2018 , 10:52:33 am | Posted By CASANSAAR

A coaching class that helps students prepare for engineering and medical entrance exams is not exempt from the ambit of Goods and Service Tax (GST), according to a ruling given by the Maharashtra Authority for Advance Rulings (AAR). The ruling points out that a GST levy of 18% would apply on its fee...

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Category : GST | Comments : 0 | Hits : 520

Companies get scrutiny notices for mismatch in GST returns
Posted Date : 07-May-2018 , 10:28:47 am | Posted By CASANSAAR

GST officers have started sending scrutiny notices to companies whose tax payment did not match the final sales return, after revenue authorities detected underpayment of GST by about 34 per cent, a source said.  Besides, companies whose final sales return GSTR-1 did not match GSTR-2A, which...

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Category : GST | Comments : 0 | Hits : 1184

Change in GST rate for digital transactions and imposition of Sugar Cess
Posted Date : 04-May-2018 , 11:23:25 pm | Posted By CASANSAAR

 Incentive to promote Digital Transactions:   1.        Keeping in view the need to move towards a less cash economy, the Council has discussed in detail the proposal of a concession of 2% in GST rate [where the GST rate is 3% or more, 1% each from applicable CGST and...

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Category : GST | Comments : 0 | Hits : 669

​GST Council approves principles for filing of new return design
Posted Date : 04-May-2018 , 11:22:00 pm | Posted By CASANSAAR

GST Council today in its 27th meeting approved principles for filing of new return design based on the recommendations of the Group of Ministers on IT simplification. The key elements of the new return design are as follows –  Onemonthly Return:All taxpayers excluding a few exceptions ...

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Category : GST | Comments : 0 | Hits : 934

Change in the shareholding pattern of GSTN
Posted Date : 04-May-2018 , 04:33:31 pm | Posted By CASANSAAR

The Goods and Services Tax Network - Special Purpose Vehicle (GSTN-SPV) was created as a private limited, not-for-profit company under Section 25 of the Companies Act, 1956 (Section 8 of the Companies Act, 2013) by Govt. of India on 28th March, 2013 with an objective to provide shared IT infrastruct...

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Category : GST | Comments : 0 | Hits : 396

GST Council meet to decide on easing return filing
Posted Date : 04-May-2018 , 09:29:22 am | Posted By CASANSAAR

The main item on the agenda for the GST Council meeting on Friday is likely to be the simplification of the return filing system into a single form and a decision on whether businesses can avail of provision credit or not, according to tax analysts. According to the GST law, the return filing pro...

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Category : GST | Comments : 0 | Hits : 487

Applicability of GST on Transfer of Tenancy Rights - CBIC
Posted Date : 03-May-2018 , 10:07:41 am | Posted By CASANSAAR

In what has implications for commercial rental space and businesses in general, the government has said transfer of tenancy rights is a service liable to tax. A finance ministry circular has said such activity against consideration in the form of tenancy premium constitutes a “supply of servic...

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Category : GST | Comments : 0 | Hits : 362

Digital copy of E-way bill enough to give transporters right of way - HC
Posted Date : 03-May-2018 , 09:53:00 am | Posted By CASANSAAR

Tax authorities cannot seize goods just because they-’re not accompanied by a physical copy of the electronic way bill (eway bill), the Allahabad High Court said in the first ruling on documents required to transport goods under the goods and services tax (GST) regime, thus setting a precedent...

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Category : GST | Comments : 0 | Hits : 297

GST Revenue collection for April 2018 exceeds Rs 1 lakh crore
Posted Date : 01-May-2018 , 12:12:23 pm | Posted By CASANSAAR

The revenue collection from Goods and Services Tax (GST) exceeded Rs 1 lakh crore in April 2018, the Ministry of Finance said on Tuesday. This is the first occasion that the monthly revenue has breached the Rs 1 trillion milestone. GST Revenue collection for April 2018 exceeds Rs.1 lakh crore. &...

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Category : GST | Comments : 0 | Hits : 550

Unique Identity Number (UIN) on GST invoice is mandatory
Posted Date : 28-Apr-2018 , 07:14:30 am | Posted By CASANSAAR

Quoting of the Unique Identity Number (UIN) allotted to diplomats and multilateral agency officials serving in India is necessary on the sale invoice, the government said on Friday.  A Finance Ministry release here said that complaints had come in from foreign diplomatic missions and UN bodi...

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Category : GST | Comments : 0 | Hits : 2773

Govt collects Rs 7.41 lakh Cr from GST in FY 17-18
Posted Date : 28-Apr-2018 , 07:01:42 am | Posted By CASANSAAR

The government mobilised Rs 7.41 lakh crore from the Goods and Services Tax (GST) during 2017-18, according to the finance ministry. The government rolled out the GST regime from July 1 last year. "During the year 2017-18, total revenue collections under GST in the period between August 2...

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Category : GST | Comments : 0 | Hits : 2202

20 million e-way bills generated in 24 days - GSTN
Posted Date : 25-Apr-2018 , 09:29:13 pm | Posted By CASANSAAR

More than 20 million (two crore) e-way bills have been generated since the beginning of this month, according to GSTN. The 'GST Systems' in a tweet said, "In a span of 24 days, over 2 crore E-Way Bills were generated for the movement of goods". The twitter handle of GST Syste...

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Category : GST | Comments : 0 | Hits : 2037

FinMin to move to cash basis accounting for GST collection
Posted Date : 24-Apr-2018 , 09:43:33 pm | Posted By CASANSAAR

In a bid to bridge the lag in actual revenue accrual, the Finance Ministry will from this fiscal shift to cash basis accounting for the Goods and Services Tax (GST) where monthly collections will be reported on the first working day of the following month. Till now, monthly tax returns under GST,...

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Category : GST | Comments : 0 | Hits : 450

Issues regarding Bill To Ship To for e-Way Bill under CGST Rules, 2017
Posted Date : 23-Apr-2018 , 10:37:12 pm | Posted By CASANSAAR

A number of representations have been received seeking clarifications in relation to requirement of e-Way Bill for “Bill To Ship To” model of supplies. In a typical “Bill To Ship To” model of supply, there are three persons involved in a transaction, namely: ‘A&...

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Category : GST | Comments : 0 | Hits : 1094

E-way bill rollout on 25th April in four states and one union territory
Posted Date : 24-Apr-2018 , 08:30:35 am | Posted By CASANSAAR

The Centre on Monday stated that the e-way bill system for intra-state movement of goods will be rolled out in four more states and one union territory on Wednesday. As per the Ministry of Finance, the e-way bill system is being introduced to four states starting April 25, namely Arunachal Prades...

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Category : GST | Comments : 0 | Hits : 712

Govt advances deadline for GST seller returns for April, May, June
Posted Date : 19-Apr-2018 , 12:00:37 pm | Posted By CASANSAAR

The government has advanced the deadlines for filing of seller forms under the goods and services tax, GSTR-1, for April, May and June, in comparison to those given for previous months. GSTR-1 for the month of April will have to be filed by May 31. Earlier, 40 days were given for filing these, wh...

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Category : GST | Comments : 0 | Hits : 364

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