GSTR-9 & GSTR -9C more simplified & last dates of submission extended
Posted Date : 14-Nov-2019 , 04:22:37 pm | Posted By CASANSAAR
The Government has decided today to extend the due dates of filing of Form GSTR-9 (Annual Return) and Form GSTR-9C (Reconciliation Statement) for Financial Year 2017-18 to 31 st December 2019 and for Financial Year 2018-19 to 31 st March 2020. The Government has also decided to simplify these forms ...
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Questions and Answers relating to GST Audit / GSTR 9C
Posted Date : 13-Nov-2019 , 09:27:14 am | Posted By CASANSAAR
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Over Rs 5,000 Cr dues declared so far in Sabka Vishwas Scheme
Posted Date : 11-Nov-2019 , 10:06:25 pm | Posted By CASANSAAR
More than Rs 5,000 crore worth dues have been declared so far under the government's 'Sabka Vishwas Scheme', which is for settling pending disputes of service tax and central excise.
The Central Board of Indirect Taxes and Customs (CBIC) has asked its principal chief commissioners to ...
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DIN System of CBIC comes into existence from today
Posted Date : 08-Nov-2019 , 09:19:42 am | Posted By CASANSAAR
The Documentation Identification Number (DIN) system of Central Board of Indirect Taxes (CBIC) will come into existence from today. This path breaking system in indirect tax administration has been created as per the direction of Finance Minister Nirmala Sitharaman. Now, any CBIC communication will ...
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HC allows taxpayers to avail disputed pre-GST tax credits
Posted Date : 06-Nov-2019 , 11:07:53 am | Posted By CASANSAAR
An order from the Punjab and Haryana High Court has paved the way for carry forward of CENVAT credit and VAT input credits to the Goods and Services Tax (GST) regime for taxpayers who could not do so due to non-filing or incorrect filing of claims. While this order may be good news for thousands of ...
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Rs 95,380 crore gross GST Revenue collected in October
Posted Date : 01-Nov-2019 , 03:57:43 pm | Posted By CASANSAAR
The gross GST revenue collected in the month of October, 2019 is ₹ 95,380 crore of which CGST is ₹ 17,582 crore, SGST is ₹ 23,674 crore, IGST is ₹ 46,517 crore (including ₹ 21,446 crore collected on imports) and Cess is ₹ 7,607 crore (including ₹ 774 crore collected on imports). The to...
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Gujarat HC serves notices on Govt, GST council for breach of refund norms
Posted Date : 28-Oct-2019 , 09:27:42 am | Posted By CASANSAAR
The Gujarat High Court has issued notices to the union government and the GST Council over the alleged breach of refund norms by field officers under the goods and services tax (GST) regime.
Under the Rule 92 of the Central GST (CGST) Act, the claim of the refund has to be made in the RFD 04 form...
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Concessional GST Guidelines revised for purchase of Vehicle by Disabled
Posted Date : 26-Oct-2019 , 10:12:20 am | Posted By CASANSAAR
Department of Heavy Industry, Ministry of Heavy Industries & Public Enterprises, Government of India, in pursuance of Ministry of Finance Notification No. 14/2019-Integrated Tax Rate dated 30.09.2019, has notified the revised guidelines for availing the concessional rate of GST, for purchase of ...
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DGGI, Gurugram, busts racket issuing fake GST invoices of more than Rs 136 Cr
Posted Date : 24-Oct-2019 , 06:28:26 pm | Posted By CASANSAAR
The Directorate General of GST Intelligence (DGGI), Gurugram Zonal Unit, Gurugram arrested Sh. Rajiv Gupta on 23.10.2019, partner in M/s RST Batteries, Mundka Delhi and Director of M/s RST Batteries Pvt. Ltd Bahadurgarh, Haryana for orchestrating a racket involving fake invoices valued at more than ...
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FM promises further GST simplification to help India improve biz ranking
Posted Date : 24-Oct-2019 , 06:14:20 pm | Posted By CASANSAAR
Union Finance Minister Nirmala Sitharaman on Thursday said efforts will be made to further simplify Goods and Services Tax, and expressed hope that it will help in further improving India's ranking in the World Bank's ease of doing business index.
India has jumped 14 places to rank 63rd i...
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GSTN to release improved version 3 of GST return filing interface
Posted Date : 22-Oct-2019 , 10:01:19 am | Posted By CASANSAAR
GST Network, provides the IT infrastructure and services for the implementation of the GST, will on October 22 release the version 3 of GST return filing interface.
The new version has incorporated many improvements suggested by users. Currently, version 2 of the GST return filing interface...
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New GST return forms may force firms to change ERP systems
Posted Date : 21-Oct-2019 , 08:49:02 am | Posted By CASANSAAR
The new Goods and Services Tax (GST) returns from April 2020 that mandate providing more details may require companies to amend their enterprise resource planning (ERP) systems.
Tax experts and chartered accountants (CAs) said that the new return systems would require a lot of details such as pur...
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Legal Provisions for filing GSTR 9 and GSTR 9C
Posted Date : 14-Oct-2019 , 07:23:54 pm | Posted By CASANSAAR
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Govt set to crack down on GST defaulters
Posted Date : 14-Oct-2019 , 09:10:49 am | Posted By CASANSAAR
A government panel will discuss on Tuesday ways to intensify enforcement activities against goods and services tax (GST) defaulters who have been identified by a fraud detection software, amid GST collections dropping to a 19-month low in September.
This marks a shift from handholding businesses ...
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Input tax credit under GST regime restricted to 20% of claims
Posted Date : 11-Oct-2019 , 10:03:16 am | Posted By CASANSAAR
Businesses will have to pursue their vendors on a monthly basis to upload their invoices to enable them to take the entire input tax credit (ITC) after the indirect tax board came out with a notification to restrict these credits to 20 per cent of the claims.
Concerned at dwindling revenues, the ...
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Govt sets up committee to look into GST revenue shortfall
Posted Date : 11-Oct-2019 , 09:44:42 am | Posted By CASANSAAR
The government on Thursday set up a high-level committee of officers to look into revenue shortfall being faced by the states and suggest measures for augmenting collections, according to an official statement.
"The committee of officers from the centre and the states is required to suggest ...
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GST authorities arrest 2 for fraudulently availing Rs.127 Cr refund
Posted Date : 10-Oct-2019 , 09:39:29 am | Posted By CASANSAAR
Haryana GST authorities have arrested two persons for generating fake invoices and fraudulently availing input tax credit totalling Rs.127 crore.
The arrests were made by the Directorate General of GST Intelligence (DGGI), Gurugram Zonal Unit (GZU), Haryana.
Gulshan Dhingra and Sanjay Dhingra,...
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GST and BlockChain
Posted Date : 10-Oct-2019 , 09:28:50 am | Posted By CASANSAAR
GST and BlockChain.
Whether GST is Fit case for BlockChain as explained by CA Shailesh Churiwala.
click on the link.
https://youtu.be/UYwXAEnIIzs
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GST collection stands at Rs.91,916 Cr in September
Posted Date : 01-Oct-2019 , 06:06:33 pm | Posted By CASANSAAR
Goods and Services Tax (GST) collection in the month of September has stood at 91,916 crore rupees as against 98,202 crore rupees in the preceding month.
Out of which, CGST is 16,630 crore rupees, SGST is 22,598 crore and IGST is 45,069 crore rupees.
The total number of GSTR 3B Ret...
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CBI arrests GST inspector, BoB manager in separate cases of bribery
Posted Date : 24-Sep-2019 , 09:17:13 am | Posted By CASANSAAR
The CBI has arrested an inspector of the Central Goods and Services Tax Department in Dhanbad for allegedly accepting a bribe of Rs 50,000 to settle a pending enquiry, officials said Monday.
Jeetan Das, an inspector in the CGST department, had allegedly demanded Rs 2 lakh for settling the enquiry...
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GST Council takes in-principle decision to link Aadhaar with registration
Posted Date : 23-Sep-2019 , 08:50:51 am | Posted By CASANSAAR
The GST Council on September 20 took an in principle decision to link Aadhaar with registration of taxpayers under GST and also examine the possibility of making the 12-digit unique identification number mandatory for claiming refunds. The council also decided to withdraw a circular issued in June w...
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GST Annual filing waived off for taxpayers below Rs 2 Cr turnover
Posted Date : 21-Sep-2019 , 09:30:47 am | Posted By CASANSAAR
The GST Council, in its 37th meeting held at Goa provided relief to MSMEs by allowing them waiver to file GSTR 9 and GSTR-9A.
Announcing the relaxation in filing of annual returns for MSMEs for FY 2017-18 and FY 2018-19, a statement said waiver of the requirement of filing FORM GSTR-9A for Compos...
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37th GST Council Meet Highlights
Posted Date : 21-Sep-2019 , 09:24:49 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman on Friday announced the reduction of GST rates on a slew of items. All rate changes would be effective from 1 October
Higlights:
A uniform GST rate of 12 % will be levied on woven/non-woven polyethylene bags
GST council cuts tax rates on job work in diamo...
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GST invoices to be replaced by e-invoice from January 2020
Posted Date : 18-Sep-2019 , 08:18:19 am | Posted By CASANSAAR
All invoices of sales and purchase will be replaced via the government prescribed e-invoice pan-India from January 2020, people aware of the matter told CNBC-TV18. The goods and services tax (GST) council will deliberate on new format and system for issuing of e-invoice during their meeting on Septe...
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GSTN decides to make Aadhaar authentication mandatory for new dealers from January 2020
Posted Date : 15-Sep-2019 , 10:45:43 am | Posted By CASANSAAR
The GST Network has decided to make Aadhaar authentication or physical verification mandatory for new dealers from January next year to check malpractices in GST. This was announced by Deputy Chief Minister of Bihar Sushil Kumar Modi, who heads the Group of Ministers of GST Network. Addressing media...
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GSTN releases online version of two simplified forms for taxpayers
Posted Date : 14-Sep-2019 , 08:47:27 am | Posted By CASANSAAR
The Goods and Services Tax Network (GSTN) on Friday released two forms-- ANX-1 and ANX-2--for simplified online returns.
A taxpayer will have to file FORM GST RET-1 (normal), or FORM GST RET-2 (Sahaj), or GST RET-3 (Sugam) returns. Annexure of supplies (GST ANX-1) and annexure of inward supplies ...
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Firms with annual income upto Rs 2 crore could get GST return relief
Posted Date : 14-Sep-2019 , 08:38:19 am | Posted By CASANSAAR
The all-powerful GST Council is set to discuss a proposal to exempt small businesses with annual turnover of less than Rs 2 crore from filing annual returns.
Senior officials said that despite three extensions for filing the returns, the number has been unsatisfactory. "It is ranging from 25...
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All India level raids find bogus firms, fraudulent GST claims
Posted Date : 13-Sep-2019 , 09:38:21 am | Posted By CASANSAAR
In a joint operation, the Director General of GST Intelligence and the Director General of Revenue Intelligence have found dozens of bogus firms and exporters who were fraudulently claiming Integrated Goods and Services Tax (IGST) from the government.
The raids were conducted on Wednesday by 1,20...
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GST Council likely to extend date of filing annual return, audit report for FY19
Posted Date : 12-Sep-2019 , 10:38:47 am | Posted By CASANSAAR
Businesses are likely to get extra time for filing their Goods and Services Tax (GST) annual return and audit report for FY19, the first full year of the indirect tax reform.
Federal indirect tax body, the GST Council, is likely to extend the due date from 31, December to enable businesses to com...
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GST collection slips below Rs 1 Lakh Cr mark to Rs 98,202 Cr in August
Posted Date : 02-Sep-2019 , 07:31:47 am | Posted By CASANSAAR
In another indicator of economic slowdown, GST collection in the month of August dropped below Rs 1 lakh crore mark to Rs 98,202 crore. The tax collection was at Rs 1.02 lakh crore in July this year. The August mop-up was, however, 4.5 per cent higher than the Rs 93,960 crore collected in the same m...
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