New Return filing System under GST| Clause by Clause Discussion
Posted Date : 22-Feb-2020 , 10:09:47 am | Posted By CASANSAAR
New Return filing System under GST| Clause by Clause Discussion| GST ANX-1| GST ANX-2| GST RET-1| GST RET-2| GST RET-3.
Comparision between GST Old and New System.
GSTR-1 vs ANX-1
GSTR-2 vs ANX-2
GSTR-3 vs RET1/2/3
Clause by Clause Discussion by CA.Mohit Gupta
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Companies take taxman to court over denial of GST credit on gifts
Posted Date : 22-Feb-2020 , 09:45:59 am | Posted By CASANSAAR
A group of companies has dragged the government and the indirect tax department to court over denying input tax credit on gifts and samples given to customers and clients.
Under the Goods and Services Tax (GST) framework, companies can set off costs incurred on raw materials or input services aga...
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Firm gets GST notice to pay up Rs 5.9858630140000004
Posted Date : 20-Feb-2020 , 09:29:15 pm | Posted By CASANSAAR
Faced with a revenue crisis of sorts, the government seems to have become penny-wise, especially when it comes to GST collection. The government is sending notices to taxpayers for dues as low as a few paise.However, that puts taxpayers in a jam.
The government recently clarified that those filin...
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Interest Calculation under GST - Gross Vs Net
Posted Date : 20-Feb-2020 , 10:31:23 am | Posted By CASANSAAR
Interest Calculation under GST - Gross Vs Net explained by CA. Bhavesh Mittal with Latest Case Laws.
Confusion after CBIC Tweets
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GST biggest madness of the 21st century - Subramanian Swamy
Posted Date : 20-Feb-2020 , 08:31:45 am | Posted By CASANSAAR
Describing India's latest tax reform GST as "the biggest madness of the 21st century," BJP leader and Rajya Sabha MP Subramanian Swamy said that the country needs to grow at 10 per cent per annum to become a superpower by 2030.
He also demanded that former Prime Minister, late P V N...
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CGST wing detects Input Tax Credit fraud of more than Rs 214 Cr in Delhi
Posted Date : 20-Feb-2020 , 08:14:25 am | Posted By CASANSAAR
The Anti Evasion wing of CGST Delhi South Commissionerate has detected a case of Input Tax credit fraud through fake invoices issued by bogus firms.
Investigations led to discovering the accused had also been generating bogus e-way bills to back the fake invoices. Over 35 entities are invol...
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GST returns can now be filed in a staggered manner
Posted Date : 19-Feb-2020 , 09:18:01 am | Posted By CASANSAAR
In a moved aimed at de-stressing the GST system, the finance ministry staggered last dates of filling GSTR-3B, a monthly return form, and has provided three dates for different categories of taxpayers.
Currently, the last date for filing GSTR-3B is 20th of every month. With the changes, there wil...
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Fire at GST Bhavan damages documents; inquiry ordered
Posted Date : 18-Feb-2020 , 10:02:30 am | Posted By CASANSAAR
Several important documents, including those belonging to audit section of the Department of Goods and Services Tax and files related to the appellate authority — which handles disputes on recovery and payments — were damaged in a fire at GST Bhavan in Mazgaon on Monday. Deputy Chief Min...
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Interest on delayed GST payment will now be calculated on net tax liability - CBIC
Posted Date : 16-Feb-2020 , 09:40:36 am | Posted By CASANSAAR
Interest payable on delayed payment of GST will henceforth be calculated on net tax liability and the law is being amended to give effect to it, the Central Board of Indirect Taxes and Customs (CBIC) said on Saturday.
Amid worry in the industry regarding CBIC's recent directive to field forma...
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How to reply to the GST Dept Notices on ITC
Posted Date : 14-Feb-2020 , 10:54:28 am | Posted By CASANSAAR
How to reply to the GST Dept Notices on ITC explained by CA. Mohit Gupta.
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Govt to raise Rs.46,000 Cr as late GST payment interest
Posted Date : 13-Feb-2020 , 08:41:12 am | Posted By CASANSAAR
The government has discovered a new revenue stream to make up for the shortfall in GST collection and is looking to collect Rs.46,000 crore as interest on late payment of tax.
Tax experts disputed the number saying government had promised to hand-hold the taxpayers at the time of migration to the...
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GST |
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Regulation of irregularities in GST claims
Posted Date : 11-Feb-2020 , 06:22:37 pm | Posted By CASANSAAR
To identify cases of fraudulent claims under Goods & Services Tax (GST), the Government of India has taken measures to apply stringent risk parameters-based checks driven by rigorous data analytics and Artificial Intelligence (AI) tools based on which certain taxpayers are taken up for further v...
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SC directs Centre to resolve technical difficulties In GST Portal
Posted Date : 11-Feb-2020 , 09:40:08 am | Posted By CASANSAAR
The Supreme Court on Monday directed the Central Government to resolve the technical glitches in the online filing of returns of Goods and Services Tax.
A bench comprising Justices Rohinton Fali Nariman and S Ravindra Bhat passed the direction while allowing the Centre's application for stayi...
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GST on Notice Pay Recovery
Posted Date : 10-Feb-2020 , 10:25:11 am | Posted By CASANSAAR
GST on Notice Pay Recovery explained by CA. Bhavesh Mittal.
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GSTN sets up panel to improve IT system
Posted Date : 10-Feb-2020 , 10:16:04 am | Posted By CASANSAAR
The Goods and Services Tax Network (GSTN) has announced setting up of a consultative committee to suggest ways to improve the functioning of its info-tech system.
The Committee will provide feedback and suggestions on new functionalities in the GST system and adoption of new IT tools. Members wil...
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GST |
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GST collection for last 3-months amounted to over Rs 1 lakh Cr each month
Posted Date : 10-Feb-2020 , 10:09:23 am | Posted By CASANSAAR
Union Finance Minister Nirmala Sitharaman has said that GST collection all through the country for the last three months amounted to more than a lakh crore rupees each month.
Speaking to reporters in Chennai today, she told that no state was sidelined when it came to sharing of revenue from...
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CBIC extend the time limit for submitting Tran 01 till 31.03.2020
Posted Date : 08-Feb-2020 , 03:50:54 pm | Posted By CASANSAAR
CBIC vide Order No. 01/2020–GST dated 07.02.2020, extends the time limit for submitting Tran 01 till 31.03.2020 for registered person who could not submit the form due to technical difficulties
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SLP Filed before SC against the order of Rajasthan HC
Posted Date : 07-Feb-2020 , 10:24:05 am | Posted By CASANSAAR
SLP has been Filed before Supreme Court of India against the order of Rajasthan HC regarding acceptance of GSTR-9 and GSTR-9C without late fees till February 12, in the matter of Tax Bar Association Vs UOI.
The Jodhpur bench of the Rajasthan High Court has directed the Revenue department to ...
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GST |
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Govt likely to introduce lottery system to boost GST compliance soon
Posted Date : 05-Feb-2020 , 09:43:52 am | Posted By CASANSAAR
In a bid to encourage customers to ask for bills while making a purchase, the government is planning to introduce a lottery system, offering between Rs 10 lakh-one crore under the Goods and Services Tax (GST). Interim chairman of the Central Board of Indirect Taxes (CBIC) John Joseph said the govern...
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Man held for using fake invoices worth Rs 1,200 Cr - Delhi GST Officers
Posted Date : 04-Feb-2020 , 09:01:49 am | Posted By CASANSAAR
A man has been arrested here for allegedly using fake invoices worth over Rs 1,200 crore to get tax benefits, an official statement said on Monday.
Daya Shankar Kushwaha, who was arrested by tax officers recently, used a network of 49 shell firms for defrauding the government, it said.
"T...
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GST |
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CBIC extends GSTR-9 and GSTR-9C filing dates to February 5 and 7
Posted Date : 04-Feb-2020 , 08:49:44 am | Posted By CASANSAAR
The due dates for GSTR9 and 9C has been extended further in a staggered format. In a tweet CBIC says, the due dates for GSTR-9 and GSTR-9C for FY 2017-18 are being extended in a staggered manner for different groups of States to 5th and 7th February 2020.
The new due dates for Chandigarh, Delhi, ...
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Govt to release due GST compensation to states in 2 installments
Posted Date : 03-Feb-2020 , 09:34:24 pm | Posted By CASANSAAR
The Centre will release all due GST compensation to states in two instalments, Union Minister Anurag Thakur said in Lok Sabha on Monday.
The reply came after MPs from Telangana and Odisha complained during Question Hour that their states were not getting the share of the Goods and Services Tax (G...
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Analysis of GST Proposals under Union Budget 2020
Posted Date : 03-Feb-2020 , 09:27:56 am | Posted By CASANSAAR
Analysis of GST Proposals under Union Budget 2020 explained by CA. Gaurav Gupta with CA. Vivek Khurana.
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Rs.1,10,828 Cr GST Gross Revenue collected for January, 2020
Posted Date : 01-Feb-2020 , 02:41:41 pm | Posted By CASANSAAR
The gross GST revenue collected in the month of January, 2020 is Rs. 1,10,828 crore of which CGST is Rs. 20,944 crore, SGST is Rs. 28,224 crore, IGST is Rs. 53,013 crore (including Rs. 23,481 crore collected on imports) and Cess is&nbs...
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GSTR-9 & GSTR-9C due dates extended in a Staggered manner
Posted Date : 01-Feb-2020 , 07:32:08 am | Posted By CASANSAAR
Considering the difficulties being faced by taxpayers in filing GSTR-9 and GSTR-9C for FY 2017-18 it has been decided to extend the due dates in a staggered manner for different groups of States to 3rd, 5th and 7th February 2020 as under. Notifications will follow.
Group 1: Maharashtra, Karnataka...
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FinMin summons Infosys on GST tech glitches
Posted Date : 31-Jan-2020 , 08:56:28 am | Posted By CASANSAAR
With complaints rising against the IT system of Goods & Service Tax (GST), the Finance Ministry has summoned Infosys on Friday to seek an explanation. Infosys is the technology service provider for GST.
According to FinMin sources, the Finance Ministry has called CN Raghupati, Senior Vice-Pre...
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Changes in GST applicable w e f 01st January 2020
Posted Date : 30-Jan-2020 , 10:41:38 am | Posted By CASANSAAR
Changes in GST applicable wef 01st January 2020 eplained by CA Mohit Gupta.
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Simplification of GSTR 9 & GSTR 9C Discussion on tweets by GST Tech
Posted Date : 28-Jan-2020 , 09:51:42 am | Posted By CASANSAAR
Simplification of GSTR-9 & GSTR-9C Discussion on tweets by GST Tech On 27/01/2020 by CA Mohit Gupta.
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Analysis of Rule 86A - Blocking of ITC
Posted Date : 28-Jan-2020 , 09:13:11 am | Posted By CASANSAAR
Fraudulent इनपुट पे सरकार का वार!!! Fake Supplier खबरदार .
Analysis of Rule 86A - Blocking of ITC by CA. Bhavesh Mittal.
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GST |
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Govt blocks Rs 40,000 Cr GST claims on returns mismatch
Posted Date : 28-Jan-2020 , 09:11:09 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) has frozen tax credits of around Rs 40,000 crore as the returns did not match, exposing alleged fraud by close to 2,000 entities, apart from cases where returns were not filed. Last week, the indirect tax wing of the revenue department blocked t...
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