L&T fined Rs 30 Cr in alleged Fake GST invoice case
Posted Date : 26-Feb-2021 , 10:52:00 am | Posted By CASANSAAR
Engineering and construction major L&T had to deposit Rs 30 crore with the GST department after it was found to be allegedly involved in a fake invoicing case, sources in the revenue department told BusinessToday.In. In January, the premises of L&T, Zee Entertainment and some other Mumbai-ba...
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Gujarat High Court reprieve for exporters on GST exemptions
Posted Date : 25-Feb-2021 , 09:45:19 am | Posted By CASANSAAR
Many exporters, who had been issued notices by the Directorate of Revenue Intelligence (DRI) for availing GST exemptions where exports preceded imports, have managed to get a temporary relief from the Gujarat High Court. The high court said that it would be hearing the complaints by the exporters.
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CBIC provides facilitation for exporters having IGST refund issues
Posted Date : 23-Feb-2021 , 07:38:56 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) has extended the time limit for sanction of pending IGST refunds in such cases where records have not been transmitted to ICEGATE due to GSTR1 and GSTR3B mismatch error. This overcomes the problem of refund blockage by allowing refunds subject t...
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SC asks Centre to file affidavit on technical glitches in GSTN
Posted Date : 19-Feb-2021 , 07:29:16 am | Posted By CASANSAAR
The Supreme Court has asked the Centre to file an affidavit on technical glitches faced by taxpayers while filing forms for transferring their input tax credit in the pre-goods and services tax (GST) period to the current GST system.
In 2019, the Punjab and Haryana High Court held that the taxpay...
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GST Council may take up rationalising tax rates, slab merger in next meet
Posted Date : 19-Feb-2021 , 07:27:06 am | Posted By CASANSAAR
The next Goods and Services Tax (GST) Council meeting in March will likely take up rationalising tax rates and mergers of multiple slabs to bring them close to being revenue-neutral and make the indirect tax regime simpler.
The meeting, whose date is yet to be set, will come at a time when ...
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PM reaffirms plan to include natural gas under GST regime
Posted Date : 18-Feb-2021 , 09:29:48 am | Posted By CASANSAAR
Prime Minister Narendra Modi said on Wednesday the government is committed to bringing natural gas under the ambit of the Goods and Services Tax (GST), to reduce the cost of natural gas and boost its usage across the country.
The inclusion of petroleum and natural in the GST regime has been a con...
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GST officers arrest 4 in 3 different cases of ITC fraud of Rs 178 crore
Posted Date : 16-Feb-2021 , 08:41:09 am | Posted By CASANSAAR
GST officers have arrested four persons in three different fake invoicing cases involving total input tax credit (ITC) fraud of Rs 178 crore, the Finance Ministry said on Monday.
"The officers of Central Goods and Services Tax (CGST) Commissionerate, Delhi North… have unearthed a netw...
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Mismatches in tax returns may cost GST registration instantly
Posted Date : 15-Feb-2021 , 09:44:57 am | Posted By CASANSAAR
Goods and services tax registrations for businesses could be suspended immediately if there is a mismatch in sales returns filed by the company and those filed by their suppliers.
The Central Board of Indirect Taxes and Customs (CBIC) has issued standard operating procedures (SOPs) for suspension...
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GST Revenue collection for January 2021 almost touches Rs 1.20 lakh Cr
Posted Date : 01-Feb-2021 , 09:00:09 am | Posted By CASANSAAR
The Goods and Services Tax (GST) revenue collection for January 2021 has almost touched 1.2 lakh crore rupees. The Finance Ministry said, the gross GST revenue collected in January this year is 1 lakh 19 thousand 847 crore rupees of which CGST is 21 thousand 923 crore rupees, SGST is 29 thousa...
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One held by CGST Delhi East officials for availing fake input tax credit of Rs 82.23 Cr
Posted Date : 19-Jan-2021 , 09:15:02 am | Posted By CASANSAAR
In the ongoing drive against availment of inadmissible ITC, officers of Central Goods and Services Tax (CGST) Commissionerate, Delhi East unearthed a multi-layered network of fictitious firms being used to generate and pass on fake ITC.
Through the use of extensive data analytics, officers identi...
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CA arrested for issuing fake bills of Rs 79.5 Cr Delhi CGST officials
Posted Date : 16-Jan-2021 , 08:46:20 am | Posted By CASANSAAR
The officers of Central Goods and Service Tax (CGST) commissionerate, Delhi (east) have detected a case of issue of fake bills of Rs 79.5 crore to wrongfully avail input tax credit (ITC) and arrested a Chartered Accountant (CA), according to an official statement issued on Friday.
CA through thes...
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Mumbai businessman arrested for GST fraud worth Rs 31 Cr
Posted Date : 16-Jan-2021 , 08:38:02 am | Posted By CASANSAAR
The Maharashtra Goods and Services Tax (GST) department on Friday arrested a Vile Parle-based businessman for allegedly causing revenue loss of Rs. 31 crore to the state government by fraudulently claiming input tax credit.
The joint commissioner of Maharashtra GST, Sampada Mehta, confirmed the d...
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18% GST on recovered pay for employees while leaving job without serving notice period
Posted Date : 14-Jan-2021 , 09:10:33 am | Posted By CASANSAAR
Leaving your job without serving the stipulated notice period will now cost employees 18 percent goods and services (GST) tax on the pay recovered for the notice period duration.
The Gujarat Authority of Advance Ruling has held that an employee exiting a company without completing their notice pe...
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Delhi HC upholds arrest provision in CGST Act for tax evasion
Posted Date : 11-Jan-2021 , 09:28:11 am | Posted By CASANSAAR
The Delhi High Court has upheld the controversial provisions in the Central Goods and Service Tax (CGST) Act that gives power to authorities to arrest any person if there is “reason to believe” that he has committed tax evasion.
A Bench of Justice Manmohan and Justice Sanjeev Narula g...
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Rs 700 crore recovered, 215 arrested in crackdown on fake GST bills scam
Posted Date : 11-Jan-2021 , 09:20:28 am | Posted By CASANSAAR
Government's crackdown on GST fake invoice scam has resulted in recovery of Rs 700 crore, arrests of 215 persons, and unearthing of 6,600 fake GST Identification Numbers (GSTIN). About 2,200 cases have been filed over the past two months.
Sources said that those arrested not only include fake...
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DGGI Gurugram arrests one for fraudulently availing ITC of Rs 8 crore
Posted Date : 09-Jan-2021 , 09:46:09 am | Posted By CASANSAAR
The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana has arrested one Shri Sanjay Goel, resident of New Delhi on charges of illegally availing and passing on input tax credit (ITC) on goods-less invoices.
On the basis of the investigation conducted till date...
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Due date for filing GST Returns for period October - December is January 13 - GSTN
Posted Date : 06-Jan-2021 , 08:10:22 am | Posted By CASANSAAR
The due date for quarterly filing of Goods and Services Tax Returns for the third quarter of 2020 (the period between October and December) is January 13, the GSTN said on Tuesday. "The date currently being shown in the GSTR-1 tile is 31.01.2021 which is erroneous and the correct date i.e. 13.0...
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Power To Block GST Credit Mustn’t Be Used To Harass Taxpayers - Gujarat High Court
Posted Date : 05-Jan-2021 , 08:58:19 am | Posted By CASANSAAR
The power of GST authorities to block credit is drastic in nature and mustn’t be used to harass taxpayers, the Gujarat High Court has said. The court expressed the need for the government to issue guidelines and the procedure to be followed by GST authorities while exercising their powers to b...
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Govt crackdown on 7,000 GST evaders, 185 arrested
Posted Date : 05-Jan-2021 , 08:34:43 am | Posted By CASANSAAR
Armed with data analytics and information from agencies, the government has launched a massive crackdown on GST evaders, initiating action against 7,000 entities including arrest of 187 -- a campaign that contributed to buoyancy in tax collection, Finance Secretary Ajay Bhushan Pandey said on Sunday...
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CGST Delhi Commissionerate arrests one for duty evasion of around Rs 831.72 Cr
Posted Date : 04-Jan-2021 , 08:21:37 am | Posted By CASANSAAR
The Central GST Delhi West Commissionerate has unearthed evasion of GST by way of manufacture and clandestine supply of gutkha/pan masala/tobacco products without any registration and payment of duty. On basis of the search at the premise of manufacture, it was found that illegal manufacturing of Gu...
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GST collections touch all time high of over Rs one lakh Cr in December
Posted Date : 02-Jan-2021 , 09:33:03 am | Posted By CASANSAAR
GST Revenue collection for last month has been recorded to be an all time high since the implementation of the Goods and Services Tax in the country. The gross GST revenue collected in the month of December 2020 is 1 lakh 15 thousand 174 crore rupees.
The revenue collected is 12 per cent hi...
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Govt issued notification to curb menace of fake GST invoice by fraudsters
Posted Date : 24-Dec-2020 , 10:12:34 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman has said that the government has issued a notification to curb the menace of fake GST invoice by fraudsters or fly-by-night firms.
She said, the move comes following recommendations of the GST Council’s Law Committee in this regard.
Ms Sitharaman said,...
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GST officers arrest 140 persons including 5 chartered accountants on charges of fake invoicing
Posted Date : 15-Dec-2020 , 09:02:44 am | Posted By CASANSAAR
GST authorities have arrested as many as 140 persons, including five chartered accountants, in about a month's time on charges of issuing fake invoices, and have now trained their guns on entities transporting under-valued goods.
In its nationwide drive against fake invoice frauds since the s...
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GST taxpayers to get flexibility to decide on monthly tax payment
Posted Date : 14-Dec-2020 , 10:06:03 am | Posted By CASANSAAR
Come January 1 and GST taxpayers would be able to pay their tax dues on a self assessment basis without having to go through the cumbersome process of filing tax returns on a monthly basis.
The Central Board of Indirect Taxes and Customs (CBIC) will introduce the new Quarterly Return and Monthly ...
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GST Network enables fully auto-populated monthly sales return form GSTR-3B
Posted Date : 14-Dec-2020 , 09:52:52 am | Posted By CASANSAAR
Businesses will now get complete auto-populated monthly sales return form GSTR-3B, GST Network said on Sunday.
"For ease of taxpayers, now the system will auto populate GSTR-3B (monthly) on the basis of details filed in GSTR-1 and auto-drafted ITC statement GSTR-2B from November 2020 tax per...
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Over 1,63,000 GST registrations cancelled in two months for return filing defaults
Posted Date : 12-Dec-2020 , 10:29:11 am | Posted By CASANSAAR
Goods and Services Tax (GST) authorities have cancelled 1,63,042 GST registrations in October and November for defaulting on filing monthly tax returns for more than six months, said a government official.
Besides, 28,635 other taxpayers have been identified for cancellation of registration for d...
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Delhi HC says entire concept of GST getting defeated by Input Tax Credit
Posted Date : 11-Dec-2020 , 09:26:14 am | Posted By CASANSAAR
The Delhi High Court today observed that the entire concept of the Goods and Services Tax (GST) is getting defeated by the input tax credit while hearing a petition by a businessman seeking protection from arrest in a case of alleged wrongly/illegally availed of Input Tax Credit.
The ...
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GSTR-9 of FY 2019-20 is available on GST Portal
Posted Date : 11-Dec-2020 , 09:17:10 am | Posted By CASANSAAR
Facility to file annual return in Form GSTR-9 for FY 2019-20 is now available. The Form is enabled for taxpayers whose table 8A computation has been completed.
Computation of the table 8A of the said return for auto population from returns is under progress which is likely to be completed soon.
...
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QRMP scheme launched for GST payers with turnover up to Rs 5 Cr
Posted Date : 07-Dec-2020 , 02:16:02 pm | Posted By CASANSAAR
The government has launched the Quarterly Return filing & Monthly Payment of Taxes (QRMP) scheme for small taxpayers under GST system.
Taxpayers with aggregate annual turnover of up to Rs 5 crore in the preceding financial year and have filed their October GSTR-3B (sales) return by November 3...
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Supreme Court upholds imposition of GST on lotteries, betting and gambling
Posted Date : 04-Dec-2020 , 09:24:21 am | Posted By CASANSAAR
The Supreme court on Thursday upheld that the Goods and Service Tax (GST) shall be imposed on the sale of lotteries, betting and gambling.
The apex court bench headed by Justice Ashok Bhushan upheld the notification issued under the Central Goods and Services Tax Act, 2017 wherein the lottery and...
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