Govt extends last date for GST sales return for March 19 to April 23
Posted Date : 21-Apr-2019 , 07:24:35 am | Posted By CASANSAAR
The government has extended the last date for filing summary sales return, GSTR-3B, for March month by three days until April 23.
"Due date for filing GSTR-3B for the tax period March 2019 has been extended to April 23, 2019," a ticker on GST portal ‘gst.gov.in' said.
The l...
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Samsung rapped for not passing GST benefits to consumers
Posted Date : 19-Apr-2019 , 10:23:20 pm | Posted By CASANSAAR
The Directorate General of Anti-Profiteering (DGAP) has served a notice on technology major Samsung India for allegedly not passing on the benefits of GST reduction to its customers and in turn making undue profits, sources said.
The notice, sources said, was served on the basis of a compla...
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Examination for Confirmation of Enrollment of GST Practitioners
Posted Date : 16-Apr-2019 , 09:55:17 pm | Posted By CASANSAAR
The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) has been authorized to conduct an examination for confirmation of enrollment of Goods and Services Tax Practitioners (GSTPs) in terms of the sub-rule (3) of Rule 83 of the Central Goods and Services Tax Rules, 2017, vide Notificat...
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Businesses with turnover over Rs 2 Cr can now start filing GST Audit Reports
Posted Date : 15-Apr-2019 , 09:18:59 pm | Posted By CASANSAAR
Businesses with an annual turnover of over Rs 2 crore can now start filing GST audit reports for fiscal 2017-18 as GST Network (GSTN) has made its format available on its portal.
The audit report for 2017-18, the first year of the goods and services tax (GST) implementation, is to be filed by Jun...
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GST Network has 1.2 crore tax payers registered - CEO
Posted Date : 13-Apr-2019 , 09:26:54 am | Posted By CASANSAAR
A total of 1.21 crore taxpayers have been registered by the Goods and Services Tax Network (GSTN), its CEO Prakash Kumar said on Friday.
"We started with 60 lakh taxpayers. Today, we have 1.21 tax-payers registered and 57.12 crore e-way bills generated so far," he said.
An e-way bi...
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Service providers can opt for GST composition scheme by April 30 - CBIC
Posted Date : 08-Apr-2019 , 08:46:27 am | Posted By CASANSAAR
The tax department has given service providers with turnover of up to Rs 50 lakh time till April 30 to opt for the composition scheme and pay 6 per cent GST.
The option to pay Goods and Services Tax (GST) at reduced rate of 6 per cent would be effective from the beginning of the financial y...
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GST officers seek clarification from companies for mismatch in sales returns, e-way bill data
Posted Date : 08-Apr-2019 , 08:44:01 am | Posted By CASANSAAR
GST officers have started seeking clarification from companies whose tax payments did not match with the e-way bills generated, as revenue authorities start matching supplies data to check tax evasion, sources said.
Touted as an anti-evasion measure, e-way bill system was rolled out on April 1, 2...
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CBIC asks tax officers to be cautious while processing fresh GST registration
Posted Date : 04-Apr-2019 , 08:10:08 am | Posted By CASANSAAR
Cracking down on tax evaders, the CBIC has asked tax officers to be cautious while processing application for fresh GST registration by those businesses whose earlier registration has been cancelled due to non-compliance.
The Central Board of Indirect Taxes and Customs (CBIC) also directed tax of...
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GST Revenue collection for March 19 crossed Rs One Lakh Cr and recorded Highest Collections in the FY 18-19
Posted Date : 01-Apr-2019 , 06:14:41 pm | Posted By CASANSAAR
Total Gross GST revenue collected in the month of March, 2019 is Rs. 1,06,577 crore of which CGST is Rs. 20,353 crore, SGST is Rs.27,520 crore, IGST is Rs.50,418 crore (including Rs. 23,521crore collected on imports) and Cess is Rs. 8,286 crore (including Rs. 891crore collected on imports). The tota...
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Roll-out of new, simplified GST return forms deferred
Posted Date : 31-Mar-2019 , 02:34:39 pm | Posted By CASANSAAR
The pilot project envisaged for rolling out simplified monthly GST return forms from April 1 has been deferred and the new forms would be made available once they the notified and the software is ready.
The GST Council had in July last year decided that the simplified GST return forms -- Sahaj an...
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GST Authority clarifies on change/transfer in ownership of sole proprietorship
Posted Date : 29-Mar-2019 , 12:28:40 pm | Posted By CASANSAAR
The Goods and Services Tax, GST Authority has clarified that transfer or change in the ownership of business will include transfer or change in the ownership of business due to death of the sole proprietor. In a circular, Central Board of Indirect Taxes and Customs, CBIC said, that the transferee or...
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Govt extends IGST, compensation cess exemption under various export promotion plans
Posted Date : 22-Mar-2019 , 05:41:26 pm | Posted By CASANSAAR
Giving relief to exporters, the government has extended IGST (Integrated Goods and Service Tax) and compensation cess exemptions for goods procurement under certain export promotion schemes till March 2020.
These exemptions have been extended for exporters buying inputs domestically or impo...
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Decisions taken by the GST Council in the 34thmeeting held on 19th March, 2019
Posted Date : 20-Mar-2019 , 07:25:45 am | Posted By CASANSAAR
GST Council in the 34th meeting held on 19th March, 2019 at New Delhi discussed the operational details for implementation of the recommendations made by the council in its 33rd meeting for lower effective GST rate of 1% in case of affordable houses and 5% on construction of houses other than afford...
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GST council approves transition plan for new GST rates on residential properties
Posted Date : 19-Mar-2019 , 05:29:28 pm | Posted By CASANSAAR
GST council today approved a transition plan for new goods and services tax rates on residential properties under which developers of under-construction buildings may either opt to shift to the revised lower rates without input tax credit or stick to the previous rates.
Revenue Secretary Ajay Bhu...
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GST rates for new projects to be mandatory from April 1 - Revenue Secretary
Posted Date : 19-Mar-2019 , 03:41:34 pm | Posted By CASANSAAR
The GST Council on March 19 approved the transition plan for new GST tax structure for residential plots.
"The new rate is 5% without tax credit or 1% without input tax credit. All buildings that begin work from April 1 will have to adhere to these new rates," said Revenue Secretary Aja...
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Companies may pass on GST benefits to consumers by increasing grammage
Posted Date : 16-Mar-2019 , 08:52:15 am | Posted By CASANSAAR
The National Anti-Profiteering Authority (NAA) Friday said companies are free to offer volume benefit or price reduction to consumers, in the wake of rationalisation of GST rates.
To evaluate cases of GST benefits, the NAA has decided to look into three yardsticks - proportionate grammage increas...
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EC gives a nod to GST Council meeting scheduled on March 19
Posted Date : 14-Mar-2019 , 06:43:21 am | Posted By CASANSAAR
The Election Commission has given approval for holding the upcoming GST Council meeting on March 19 to consider various issues including the implementation of lower GST rates for the real estate sector.
The next meeting will be held through videoconferencing, sources said.
Foll...
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Taxpayers can compare tax liability declared in final, summary GST returns forms - GSTN
Posted Date : 13-Mar-2019 , 09:57:28 am | Posted By CASANSAAR
The GST Network on Tuesday said businesses registered under GST can now compare the tax liability declared as well as input tax credit claimed in their final and summary sales returns forms.
The GSTN, which handles the technology backbone for the new indirect tax, has provided a facility to the t...
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GST Council to meet on 19 March to finalise real estate tax structure
Posted Date : 12-Mar-2019 , 09:35:22 am | Posted By CASANSAAR
In a first-of-its-kind meeting of a federal forum in the midst of the code of conduct of general elections, the Goods and Services Tax (GST) Council is scheduled to meet on March 19 to finalise guidelines to support the changed tax rate structure for underconstruction houses.
This would be the on...
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No GST on tax collected at source levied on goods - FinMin
Posted Date : 09-Mar-2019 , 10:08:04 am | Posted By CASANSAAR
The finance ministry on Friday provided relief to traders by withdrawing a rule that required them to charge goods and services tax (GST) on the compulsory income tax to be collected at source (TCS) from consumers who make high value purchases such as premium cars. A circular issued in December had ...
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FinMin asks to be cautious while filing annual GST returns form
Posted Date : 08-Mar-2019 , 08:01:05 am | Posted By CASANSAAR
The Finance Ministry on Thursday asked trade and industry to exercise caution while filing the annual GST returns form as the facility to revise it is not available.
In a statement, the ministry said the annual returns form is now available on the common portal for filing and asked Goods and Serv...
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FinMin notifies April 1 as date for availing increased GST exemption limit, composition scheme
Posted Date : 08-Mar-2019 , 07:51:12 am | Posted By CASANSAAR
The government Thursday notified April 1 as the date for the implementation of doubling of GST exemption limit to Rs 40 lakh, which will benefit small and medium enterprises.
Besides, the effective date for availing higher turnover cap of Rs 1.5 crore for availing composition scheme by traders ha...
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FM releases a Compendium of Instructions on GST Refunds and a Copy of the Operational Manual on Internal Audit
Posted Date : 01-Mar-2019 , 08:57:47 pm | Posted By CASANSAAR
Finance Minister, Shri Arun Jaitley released a Compendium of Instructions on GST Refunds and a Copy of the Operational Manual on Internal Audit. The Finance Minister congratulated CGA and his team on the occasion of Civil Accounts Day and appreciated the good work being done by ICAS. #casansaa...
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GST collection drops to Rs 97,247 crore in February
Posted Date : 01-Mar-2019 , 05:21:36 pm | Posted By CASANSAAR
GST collections in February dropped to Rs 97,247 crore in February from Rs 1.02 lakh crore in the previous month, the Finance Ministry said Friday.
The number of sales return or GSTR-3B filed for the month of January up to February 28, 2019 is 73.48 lakh.
"The total gross GST ...
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Govt detects Rs 20,000 Cr GST evasion in April-Feb FY19
Posted Date : 27-Feb-2019 , 07:10:17 pm | Posted By CASANSAAR
The government has detected Rs 20,000 crore worth GST evasion so far this fiscal and will take more steps to check frauds and increase compliance, a senior tax officer said on Wednesday.
Central Board of Indirect Taxes and Customs Member (Investigation) John Joseph further said the department wou...
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Trade bodies welcome rate cut in GST on real estate
Posted Date : 25-Feb-2019 , 08:30:31 am | Posted By CASANSAAR
Various trade bodies have lauded the GST Council decision on Goods and Services Tax rate cut on real estate.
Director General of Confederation of Indian Industry (CII) Chandrajit Banerjee said the GST Council's decision will address the needs of home buyers and boost offtake of housing....
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GST on under-construction housing properties cut to 5%, affordable houses to 1%
Posted Date : 24-Feb-2019 , 08:09:51 pm | Posted By CASANSAAR
Union and state governments on Sunday decided to lower Goods and Services Tax (GST) on under construction housing properties to 5% from an effective 12% in a pro-consumer decision ahead of national polls due by April-May.
GST rate on affordable housing projects too has been lowered from an effect...
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GST Council defers decision on tax on real estate
Posted Date : 20-Feb-2019 , 10:41:56 pm | Posted By CASANSAAR
The GST Council deferred a decision on the rationalisation of tax rates on real estate till February 24 as some states wanted a physical meeting before a final decision is taken on the issue.
Briefing media after the 33rd meeting of GST Council held in New Delhi on Wednesday through video- ...
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GoM favours uniform tax on lottery, GST Council to decide rate on Feb 20
Posted Date : 18-Feb-2019 , 09:22:08 pm | Posted By CASANSAAR
A state ministerial panel set up to review tax rate on lottery Monday favoured a uniform GST rate of either 18 per cent or 28 per cent -- a final call on which would be taken by the GST Council at its meeting on February 20.
Currently, a state-organised lottery attracts 12 per cent GST whil...
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HC dismisses advance bail pleas on GST Act violation
Posted Date : 13-Feb-2019 , 04:33:07 pm | Posted By CASANSAAR
Observing that the Central Goods and Services Act was enacted with the laudable object of "one country one tax", the Madras High Court on Tuesday dismissed the anticipatory bail applications filed by nine persons apprehending arrest under the provisions of the Act.
Justice Anand Venkate...
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