GST will not be levied on Directors Remuneration - CBIC
Posted Date : 11-Jun-2020 , 10:13:49 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) on Wednesday said GST will not be levied on salaries paid to directors who are employees of the company. The CBIC issued a clarification following a ruling by the Rajasthan Authority of Advance Ruling (AAR) in April that said companies will have...
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Centre Releases Rs.36,400 Cr as GST Compensation to States
Posted Date : 05-Jun-2020 , 08:58:17 am | Posted By CASANSAAR
Taking stock of the current situation due to COVID-19 where State Governments need to undertake expenditure while their resources are adversely hit, the Central Government has released the GST Compensation of Rs.36,400 crore to the States/UTs with Legislature for the period from December, 2019 ...
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0 | Hits : 1078
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Issue of GST late fee for the past period (August 2017 to January 2020) to be discussed in the next GST Council meeting
Posted Date : 02-Jun-2020 , 09:16:30 am | Posted By CASANSAAR
In the recent past, tweets have been noticed by the Government on the issue of waiver of late fee applicable on non-filing of GSTR 3B returns. The demands are largely for the waiver of late fee for the returns which were required to be filed from the beginning of Goods & Services Tax (...
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GST |
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0 | Hits : 1528
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CBIC clears GST refund claims of Rs 11,052 Cr since April 8
Posted Date : 26-May-2020 , 10:03:27 am | Posted By CASANSAAR
The Central Board of Indirect Taxes (CBIC) on Monday said it has sanctioned GST refund claims worth Rs 11,052 crore in 47 days.
In a tweet, the CBIC said it is "committed to ensuring liquidity to GST taxpayers especially MSME sectors during the lockdown".
The tweet added that 29,230 ...
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GST |
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No GST on full-time Directors’ remuneration - AAR
Posted Date : 11-May-2020 , 03:10:11 pm | Posted By CASANSAAR
The controversy on whether remuneration paid to directors of a company is subject to the goods and services tax (GST) has been put to rest by a recent decision of the Authority for Advance Rulings (AAR), Karnataka bench.
Anil Kumar Agrawal, who had received salary as a director from a private com...
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GST |
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Govt gives relaxations to taxpayers for GST compliance for filing annual returns and audits
Posted Date : 06-May-2020 , 09:37:56 am | Posted By CASANSAAR
The government gave further relaxations to taxpayers for goods and services tax (GST) compliance for filing annual returns and audits, increasing the time duration for some, meanwhile extending the validity of e-way bills till the month end.
In a notification dated May 5, the Central Board of Ind...
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Govt defers release of April GST collection data
Posted Date : 02-May-2020 , 11:02:34 am | Posted By CASANSAAR
The government on Friday deferred the release of April GST revenue collection data due to the ongoing lockdown, sources said. The government had last month extended the deadline to file GST returns for March to May 5, from April 20.
As per convention, the government releases GST revenue collectio...
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GST |
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0 | Hits : 2528
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GST PMT 09 Live on GST Portal | File GST PMT-09
Posted Date : 23-Apr-2020 , 10:27:02 am | Posted By CASANSAAR
GST portal update Form PMT-09 is live on GST Portal. How taxpayer can transfer cash balance under one head to another head explained by CA. Mansi Vohra..
https://youtu.be/5Z-051O07Tw
...
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GST Refund worth Rs. 5575 Cr processed in 15 days
Posted Date : 18-Apr-2020 , 10:36:14 am | Posted By CASANSAAR
The Central Board of Excise and Custom (CBIC) on Friday reported settling GST (Goods and Services Tax) refund claims worth ₹5,575 crore.
Since March 30, the board processed nearly 13,000 refund applications. “While in the last week itself, CBIC has processed 7,873 claims worth ₹3,854 cr...
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GST |
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Committed to help GST taxpayers in COVID-19 situations - CBIC
Posted Date : 18-Apr-2020 , 10:05:13 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) said that it is fully committed to help the GST taxpayers in the present COVID-19 situation.
Since 30th March 2020, CBIC has processed 12,923 refund applications involving claims worth Rs 5,575 Crore, while in the last week its...
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GST |
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0 | Hits : 1914
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Wish List of Relaxations under GST to the Assesses during COVID-19
Posted Date : 17-Apr-2020 , 09:39:15 am | Posted By CASANSAAR
Wish List of Relaxations under GST to the Assesses during COVID-19, Suggestion to the GST Council, Central Govt to provide such relaxations under GST. Watch this Video,,,
https://youtu.be/rPun-6f8FOg
...
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GST |
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0 | Hits : 1754
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Changes under GST due to COVID-19
Posted Date : 17-Apr-2020 , 09:38:23 am | Posted By CASANSAAR
Changes under GST due to COVID-19 discussed by CA.(Dr) Gaurag Gupta. Watch this Video,,,
https://youtu.be/Zm4nHYMioYA
...
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GST |
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0 | Hits : 1322
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FAQs on GST Composition Levy | Extension of due date for opting of Composition Scheme
Posted Date : 17-Apr-2020 , 09:37:10 am | Posted By CASANSAAR
FAQs on GST Composition Levy - Extension of due date for opting of composition scheme discussed by CA.Mansi Vohra. Watch this Video,,,,,
https://youtu.be/RWfz46FCQis
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GST |
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0 | Hits : 1002
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Electronic documents for clearing imports allowed - CBIC
Posted Date : 15-Apr-2020 , 10:48:15 am | Posted By CASANSAAR
In a move that will help movement of essential goods and commodities through customs, the government has allowed importers and customs brokers to give electronic out of charge copies of bill of entry and eGatepass from April 15.
The latest reform towards paperless customs will help tide over diff...
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GST |
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0 | Hits : 1768
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GST on Director Remuneration | AAR's Ruling on Directors Remuneration
Posted Date : 13-Apr-2020 , 09:14:03 am | Posted By CASANSAAR
Remuneration paid to directors to attract GST by Rajasthan bench of the AAR in the case of Clay Craft India Pvt Ltd. discussed by CA.(Dr.) Gaurav Gupta)
https://youtu.be/bUtuc4gYgIA
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GST |
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0 | Hits : 974
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GST Registration requirements in case of supply from other States
Posted Date : 13-Apr-2020 , 08:45:38 am | Posted By CASANSAAR
GST Registration requirements in case of supply from other States - Karnataka AAR's Ruling in case of Kardex India Solutions (P) Ltd. discussed by CA.(Dr) Gaurav Gupta)
https://youtu.be/cHbKAD68fy4
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GST |
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0 | Hits : 881
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Remuneration to Directors to attract GST - AAR
Posted Date : 08-Apr-2020 , 08:56:05 am | Posted By CASANSAAR
Companies will have to pay GST on the remuneration they dole out to directors, the Authority for Advance Ruling (AAR) has said.
In an application filed before the Rajasthan bench of the AAR, Clay Craft India Pvt Ltd had sought clarification on whether salaries paid to directors would attract Good...
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GST |
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GST officers Process 10,077 new registrations, 7,876 refund applications from home access
Posted Date : 07-Apr-2020 , 09:48:23 am | Posted By CASANSAAR
GST Network on Sunday said tax officers have processed over 10,000 new registrations and about 8,000 refund applications in the first 10 days of lockdown till April 3, working through Virtual Private Network (VPN).
In a statement, the Goods and Services Tax Network (GSTN) said it has enabled tax ...
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GST |
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0 | Hits : 871
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CBIC notifies relief to businesses on tax credits, e-way bills
Posted Date : 05-Apr-2020 , 10:03:15 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) late on Friday notified major relief to businesses by offering flexibility in claiming tax rebates and extending the validity of electronic permits for movement of goods. The idea is to help businesses meet the challenges of cashflow and disrupt...
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Recent Judicial Pronouncements and AAR under GST | GST
Posted Date : 04-Apr-2020 , 11:16:47 am | Posted By CASANSAAR
Let's use this quarantine to learn about Recent Judicial Pronouncements and AAR under GST discussed by CA.Bhavesh Mittal.
https://youtu.be/fICOGd7kZjc
*Dont forget to Like the Video and Subscribe CA Sansaar YouTube Channel*
Stay Home, Stay Safe, Stay Updated.
(We Care for Y...
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GST collections for March stand at Rs 97597 Cr
Posted Date : 02-Apr-2020 , 12:05:21 pm | Posted By CASANSAAR
Goods and services tax collections for March, 2020 stood at Rs. 97,597 crore, lower than Rs. 1.05 lakh crore collected in February, 2020. Until February, GST collections crossed Rs. 1 lakh crore for four consecutive months.
Of the total Rs. 97,597 crore, central GST stood at Rs.19,183 crore, stat...
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Recent Amendments Under GST Law including Updates on Press Conference of FM
Posted Date : 29-Mar-2020 , 09:46:51 am | Posted By CASANSAAR
Recent Amendments Under GST Law including Updates on Press Conference of Finance Minister discussed by CA.Bhavesh Mittal.
Watch This Video,,,
https://youtu.be/8VJca40JN98
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Companies under IBC will need New GST Registration
Posted Date : 24-Mar-2020 , 11:09:09 am | Posted By CASANSAAR
Companies under Insolvency and Bankruptcy process must avail a fresh GST registration within 30 days of a resolution professional being appointed for them.
If the resolution professionals have already been appointed, GST registration will have to be availed within a month, the government ha...
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GST |
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Outcomes of 39th GST Council Meeting | Updates of 39th GST Council Meeting
Posted Date : 15-Mar-2020 , 09:22:35 am | Posted By CASANSAAR
Updates of 39th GST Council Meeting explained by CA. Hajela.
Watch this Video,,,,
https://youtu.be/bWRjwsCw3vA...
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0 | Hits : 939
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ITC frauds under GST rise 170% in just nine months of FY20
Posted Date : 14-Mar-2020 , 09:52:46 am | Posted By CASANSAAR
The number of input tax credit (ITC) fraud cases under Goods & Services Tax (GST) in the first nine months of this financial year has risen 170 per cent more than that reported in the whole of last fiscal. During the same period, the amount involved is nearly 80 per cent of full FY19.
Accordi...
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GST |
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e-Invoicing Process under GST
Posted Date : 13-Mar-2020 , 03:29:14 pm | Posted By CASANSAAR
e-Invoicing Process under GST explained by Mr. Gaurav Mohan.
Watch this Video.....
https://www.youtube.com/watch?v=3x1giycA-eA
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GST |
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0 | Hits : 1854
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GST Council may correct rate anomaly on March 14
Posted Date : 12-Mar-2020 , 08:52:50 am | Posted By CASANSAAR
Mobile phones, textiles and a few other goods may become costlier if the GST Council chooses to correct certain duty structures on them due to which finished products attract lower duty than the raw material.
This imbalance in taxes, which is called inverted duty structure, has been resulting int...
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GST |
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0 | Hits : 732
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Two directors of exporting companies arrested for fraudulently claiming GST refund
Posted Date : 09-Mar-2020 , 10:09:55 am | Posted By CASANSAAR
The Directorate General of GST Intelligence (DGGI) on Saturday said it has registered a case against XXXXXXXXXXXXX Pvt Ltd and others for fraudulently claiming refunds on export of goods of over Rs 61 crore.
“DGGI booked a case on March 6, 2020 against XXXXXXXXXXXXXX Pvt Ltd & others. A...
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DGGI (Hqrs.) registered a case for fraudulently claiming IGST refunds on export of goods
Posted Date : 07-Mar-2020 , 03:26:03 pm | Posted By CASANSAAR
DGGI (Hqrs.) booked a case on 06.03.2020 against M/s Aastha Apparels Pvt Ltd & others. Aforesaid companies have fraudulently claimed IGST refunds on export of goods to the tune of more than Rs. 61 Crores.
It has been revealed that ITC has been fraudulently availed by M/s Aastha Apparels Pvt L...
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GST |
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0 | Hits : 1632
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Major Racket of Fake Invoicing of Rs.7896 Cr Busted Involving Network of 23 Shell Companies
Posted Date : 04-Mar-2020 , 07:56:21 am | Posted By CASANSAAR
The officers of Anti Evasion wing of Central Tax, Delhi West Commissionerate have busted a major racket of fake invoicing of Rs.7896 crore involving fraudulent Input Tax Credit (ITC) of Rs.1709 crore, using a network of 23 shell companies, which procured and generated invoices without actual supply ...
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