New return forms and lower refund outgo to push up GST collections
Posted Date : 23-Nov-2018 , 10:43:09 pm | Posted By CASANSAAR
Revised and simpler tax return forms as well as lower refunds will likely boost revenue collection from Goods and Services Tax (GST), which the government expects to touch to Rs 1.5 lakh crore every month from the next financial year (2019-20).
“GST collections should be around Rs 1.5 lakh ...
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Annual return Tab enabled on GST Portal
Posted Date : 23-Nov-2018 , 09:34:52 am | Posted By CASANSAAR
The Goods and Services Tax Network (GSTN) has enabled the option of ‘Annual Return Tab’ on GST portal for filing annual GST return.
Yesterday, GSTN has enabled the option by creating a tab for filing GST Annual Return on GST Portal, there are high chances that GST Annual Return Utilit...
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Rs 29,088 cr indirect tax evasion detected during April-Oct
Posted Date : 22-Nov-2018 , 07:56:45 am | Posted By CASANSAAR
The investigation arm of the Finance Ministry has detected tax evasion worth Rs 29,088 crore in 1,835 cases during April-October period of the current financial year, a senior official said Wednesday.
Of this, the Directorate General of GST Intelligence (DGGI), which is enforcement agency f...
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Revenue Dept plans to link e-way bill with FAStag to prevent GST evasion
Posted Date : 20-Nov-2018 , 08:35:34 am | Posted By CASANSAAR
The revenue department is planning to integrate e-way bill with NHAI's FASTag mechanism and DMICDC's Logistics Data Bank (LDB) services, to facilitate faster movement of goods and check GST evasion.
The proposal, according to officials, will improve operational efficiencies across the cou...
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Examination for confirmation of enrollment of GST Practitioners postponed to 17.12.2018
Posted Date : 20-Nov-2018 , 08:15:26 am | Posted By CASANSAAR
Reference is invited to Press Release dated 1.11.2018 regarding exam for GST Practitioners scheduled on 7.12.2018. On account of Assembly Elections in some of the states on 7.12.2018, the date of the examination stands revised to 17.12.2018 (17th December 2018). #casansaar (Source - PIB)
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CAG GST audit report likely to be tabled in Winter Session
Posted Date : 19-Nov-2018 , 09:13:14 am | Posted By CASANSAAR
The Comptroller and Auditor General (CAG) of India is conducting performance audit of goods and services tax (GST) and is likely to finalise its report soon. The performance audit report on GST implementation could be tabled in Parliament as early as in the forthcoming Winter Session beginning 11 De...
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HC allows adjustment of wrong payment in GST
Posted Date : 17-Nov-2018 , 08:51:59 am | Posted By CASANSAAR
In what is seen as a major relief for GST assessees, especially dealers, the Kerala High Court has ruled that any GST mistakenly paid under one head can be adjusted under the correct head.
While noting that it sees no difficulty for the tax authorities to allow the petitioner’s request and ...
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Open House Discussion on Issues related to GST Audit & Annual Returns in Delhi
Posted Date : 16-Nov-2018 , 02:09:08 am | Posted By CASANSAAR
CASANSAAR Cordinally Invites you to Join us for
Open House Discussion on Issues related to GST Audit & Annual Returns.
Key Speakers :-
CA Nagesh Bajaj.
CA Puneet Agrawal
CA Gaurav Gupta
CA Shaifaly Girdharwal
CA Nitin Gupta
Venue ...
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Goods can be impounded for lapses under GST - Kerala HC
Posted Date : 16-Nov-2018 , 07:29:45 am | Posted By CASANSAAR
Authorities impounded a car being sent by a dealer from Puducherry to Thiruvananthapuram for personal use of his customer without an e-way bill. It has to be generated if goods worth more than Rs 50,000 are transported, but is not applicable on goods for personal consumption. The matter went to the ...
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Bengaluru I-T dept busts Rs 1,200 crore fake GST invoice scam
Posted Date : 15-Nov-2018 , 01:03:00 pm | Posted By CASANSAAR
Three men have been arrested for generating fake bills worth Rs 1,200 crore under the new Goods and Services Tax (GST) regime by the income tax department in Bengaluru after a two-month long investigation, officials said on Thursday.
The three men identified as Suhail, Basha and Hafeezur were arr...
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Advisory to UIN Entities claiming GST Refunds
Posted Date : 09-Nov-2018 , 08:54:35 pm | Posted By CASANSAAR
The GST Act provides for allotting a Unique Identification Number (UIN) to Consulates, Embassies and other UN Organizations to enable such entities to claim refund of GST paid. One of the conditions for claiming this refund is to file Invoice Level Data in their FORM GSTR-11 on the common ...
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No let-up in sanction of GST Refunds - CBIC
Posted Date : 09-Nov-2018 , 09:24:13 am | Posted By CASANSAAR
There are concerns being raised about growing pendency of GST Refunds. Exporters arereassured that there is no le-tup in the sanction of GST refunds. The disposal rate is consistently improving month-on-month. As on 31st October, 2018, total GST refunds to the tune of Rs 82,775 crore have been dispo...
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GST collections cross Rs 1 lakh crore mark in October
Posted Date : 01-Nov-2018 , 10:28:29 pm | Posted By CASANSAAR
GST collections have crossed Rs 1 lakh crore mark in October this year.
In September, the revenue from goods and services tax was 94,000 crore rupees.
In a tweet, Finance Minister Arun Jaitley said, the success of GST is lower rates, lesser evasion, higher compliance, only one tax ...
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Centre, states apportion Rs 32,000 crore IGST in October
Posted Date : 31-Oct-2018 , 08:48:51 am | Posted By CASANSAAR
As much as Rs 32,000 crore lying in the integrated goods and services tax (IGST) pool has been apportioned between the centre and states in the month of October.
The states' share would be over Rs 15,000 crore, the official said.
The apportionment would add to the goods and services ...
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GST council met 30 times, took 918 decisions in 2 years - FinMin
Posted Date : 30-Oct-2018 , 09:46:32 am | Posted By CASANSAAR
The GST council, chaired by finance minister Arun Jaitley, has met 30 times and taken 918 decisions related to laws, rules and rates for the new tax regime in just over two years.
The goods and services tax (GST) council, which comprises state finance ministers and Union minister of state in char...
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Vehicle owners to pay 18% under GST on pollution check
Posted Date : 24-Oct-2018 , 07:30:59 am | Posted By CASANSAAR
Vehicle owners will have to pay a GST of 18 per cent to get pollution certificate for their vehicles, the Authority for Advance Ruling (AAR) has said.
The Goa bench of the AAR passed the ruling on an application filed by Venkatesh Automobiles on whether the service provided for issuing '...
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Due date of GSTR-3B for Sept 2018 extended to 25th Oct 2018
Posted Date : 22-Oct-2018 , 08:52:56 am | Posted By CASANSAAR
It has been brought to notice that there have been apprehensions by trade and industry relating to the last date for availment of ITC for the period July, 2017 to March, 2018. In order to remove doubts, it was clarified that as per the law, the last date for availing ITC in relation to the...
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Last date to avail Input Tax Credit in respect of invoices pertaining to period from July, 2017 to March, 2018
Posted Date : 18-Oct-2018 , 11:27:12 pm | Posted By CASANSAAR
There appears to be misgiving about the last date for taking Input Tax Credit (ITC) in relation to invoices or debit notes relating to such invoices pertaining to period from July, 2017 to March, 2018. Such uncertainty seems to stem from the Government’s decision to extend the l...
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Clarification on the manner of filing the Quarterly Return by Composition Dealers in FORM GSTR-4
Posted Date : 17-Oct-2018 , 12:38:53 pm | Posted By CASANSAAR
It has been brought to notice that doubts regarding the manner of filing the quarterly return by Composition Dealers in FORM GSTR-4 in the absence of auto-population of the details of inward supplies (other than supplies attracting reverse charge) received from registered suppliers exist a...
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Free/Complementary IPL tickets to attract GST - AAR
Posted Date : 15-Oct-2018 , 04:01:40 am | Posted By CASANSAAR
Free or complementary tickets given by franchise owners for IPL matches will attract Goods and Services Tax (GST), the Authority for Advance Ruling (AAR) said.
In response to an application filed by K P H Dream Cricket Pvt Ltd, which owns and operates IPL cricket team Kings XI Punjab, the Punjab ...
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Delhi Govt launches drive against GST defaulters
Posted Date : 15-Oct-2018 , 09:13:14 am | Posted By CASANSAAR
Witnessing a large number of defaulters under the Goods and Services (GST) act, the Delhi Department of trade and taxes on Friday issued show cause notices to a total of 51,500 tax defaulters.
Also, to keep an eye on the suspicious and un-lawful trading activities of the dealers such as bogus bil...
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Finance ministry rubbishes charge of stuck GST claims worth Rs 23,000 crore
Posted Date : 14-Oct-2018 , 03:04:51 am | Posted By CASANSAAR
The finance ministry on Friday dismissed as “exaggerated” and “inaccurate” exporters’ contention that about Rs 23,000 crore of goods and services tax-related refund claims are stuck with the government.
“A large number of exporters have been granted refunds so ...
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Last date of registration for GST Practitioners Exam extended up to 15th Oct 2018
Posted Date : 11-Oct-2018 , 07:47:02 am | Posted By CASANSAAR
The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) is conducting an examination for confirmation of enrollment of Goods and Services Tax Practitioners (GSTPs) enrolled on the GST Network under sub-rule (2) of Rule 83 and covered by clause (b) of sub-rule (1) of...
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Jurisdiction of taxpayer should not hamper GST enforcement action - CBIC
Posted Date : 09-Oct-2018 , 10:27:39 pm | Posted By CASANSAAR
The GST Council had in January 2017 decided that both the central and state tax administration would have the power to take intelligence-based enforcement action.
The CBIC has asked tax officials of the Centre as well as state governments to initiate enforcement actions against GST evaders irrespec...
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Govt may extend term of GST anti-profiteering watchdog
Posted Date : 05-Oct-2018 , 07:52:52 am | Posted By CASANSAAR
The government may extend the term of the National Anti-profiteering Authority (NAA) beyond its original two-year mandate, with policymakers arguing that the watchdog needs to function for a longer period in light of the frequent rate changes in the goods and services tax (GST) and the unfinished ta...
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SC upholds Constitutional validity of compensation law under GST
Posted Date : 04-Oct-2018 , 08:21:21 am | Posted By CASANSAAR
The Supreme Court Wednesday upheld the constitutional validity of Goods and Services Tax (Compensation to States) Act saying it was not beyond the legislative competence of the Parliament.
The top court said the Compensation to States Act, enacted by the Parliament in 2017, is not a "c...
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Govt May Soon Announce Rewards for Tip offs on GST Evasion
Posted Date : 02-Oct-2018 , 02:51:23 pm | Posted By CASANSAAR
The revenue department is planning to come out with a 'GST informant reward scheme' to check tax evasion by unscrupulous traders and businesses, an official said.
It will be on the lines of similar schemes for excise and service tax, which has been subsumed under the Goods and Services Ta...
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GST Revenue collection for Sept 2018 crossed Rs 94,000 Cr
Posted Date : 01-Oct-2018 , 11:12:20 pm | Posted By CASANSAAR
The total gross GST revenue collected in the month of September, 2018 is Rs. 94,442 crore of which CGST is Rs. 15,318 crore, SGST is Rs. 21,061 crore, IGST is Rs. 50,070 crore (including Rs. 25,308 crore collected on imports)...
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Companies may have to show ledgers for claiming GST credit of over Rs 25 lakh
Posted Date : 01-Oct-2018 , 09:20:50 am | Posted By CASANSAAR
Companies that availed of more than Rs 25 lakh credit under the goods and services tax (GST) regime in lieu of levies paid under the previous system will soon have to give details of their purchase ledgers for six months before the new tax regime was rolled out.
The government will soon bri...
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Internal Auditor not to undertake GST Audit simultaneously - ICAI
Posted Date : 28-Sep-2018 , 10:45:19 am | Posted By CASANSAAR
We have received enquiries from the members at large and other stakeholders as to whether an internal auditor of an entity can also undertake GST Audit of the same entity as required under the Central Goods and Service Act, 2017.
The Council of the Institute, while considering the issue at its 37...
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