SC upholds HC decision on Form C availability after GST
Posted Date : 16-Aug-2018 , 08:45:56 am | Posted By CASANSAAR
The Supreme Court has upheld the decision of the Punjab and Haryana High Court that Form – ‘C’ should be made available to an assessee even after implementation of the goods and services tax (GST).
A Bench led by justice Ranjan Gogoi, while dismissing a Haryana government’...
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Govt notifies due date for filing GST returns from July 2018 - March 2019
Posted Date : 13-Aug-2018 , 12:11:47 pm | Posted By CASANSAAR
New Delhi: The government has modified the due date for filing of final Goods and Service Tax (GST) sales returns by businesses with turnover exceeding ₹1.5 crore to the 11th day of the succeeding month.
Currently, such businesses are required to file GSTR-1 or final sales return of a par...
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Lok Sabha clears amendments to CGST, IGST, GST compensation bills
Posted Date : 10-Aug-2018 , 07:20:32 am | Posted By CASANSAAR
The Lok Sabha has passed the Central Goods and Services Tax (Amendment) Bill, Integrated Goods and Services Tax (Amendment) Bill, Union Territory Goods and Services Tax (Amendment) Bill and the Good and Services Tax (Compensation to States) Amendment Bill.
The four Bills seek to amend the G...
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Auto components industry seeks uniform 18% GST on all products
Posted Date : 07-Aug-2018 , 11:34:13 am | Posted By CASANSAAR
Auto component industry today sought uniform 18 percent GST across the sector stating that low taxation would lead to better compliance and and larger tax base. The industry, which reported a growth of 18.3 percent to Rs 3.45 lakh crore in 2017-18, said the lower tax levy would also help in curtaili...
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No GST refunds for foreigners as of now: Finance Ministry
Posted Date : 06-Aug-2018 , 01:25:08 pm | Posted By CASANSAAR
Foreigners coming to India may not get GST refunds on goods purchased and carried back by them as the government has not invoked relevant provisions of the Integrated Goods and Services Tax Act yet, the Finance Ministry has said in reply to an RTI query.
It was asked to provide details ...
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In the fast lane? New draft GST return form seeks to provide relief to exporters
Posted Date : 06-Aug-2018 , 07:27:22 am | Posted By CASANSAAR
The export community has consistently faced issues with GST and to make life easier, the Government has proposed simplification in the new return filing process.
The entire return filing process is supposed to undergo a change with only one monthly return for taxpayers. Return filing dates ...
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GST Council clears 20 per cent cashback on digital payments, with Rs 100 cap
Posted Date : 06-Aug-2018 , 12:55:00 pm | Posted By CASANSAAR
The Goods and Services Tax (GST) Council on Saturday cleared a pilot project to offer digital incentives, in the form of cashback of 20 per cent of GST paid on business-to-consumer transactions using RuPay and BHIM platforms, subject to a cap of Rs 100 per transaction.
Revenue shortfall concerns ...
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GST rates still leave room for pruning
Posted Date : 06-Aug-2018 , 12:28:28 pm | Posted By CASANSAAR
The Centre has reportedly favoured a pause in further rate cuts on the goods and services tax (GST) due to the revenue shortfall, estimated at over Rs 40,000 crore in the first quarter of this fiscal. This is hasty, on two counts. The slew of changes that have periodically been brought about show th...
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GST Council meets in New Delhi today to discuss MSME Sector's suggestions and concerns
Posted Date : 04-Aug-2018 , 12:50:55 pm | Posted By CASANSAAR
The Goods and Services Tax (GST) Council is meeting in New Delhi today. The meeting, to be chaired by Finance Minister Piyush Goyal, will discuss the concerns and suggestions of the Micro, Small and Medium Enterprises, among other issues.
The 29th meeting of the Council is also likely to di...
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GST Council may replace 12% and 18% slabs with 14-15% tax rate
Posted Date : 04-Aug-2018 , 07:40:46 am | Posted By CASANSAAR
The Goods and Service Tax Council (GST) may replace 12 per cent and 18 per cent slabs with 14-15 per cent, Bihar Deputy Chief Minister and GST Council member Sushil Modi said on Thursday. Modi added that the GST Council can think of bringing the petroleum products under the new tax regime only after...
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Amendments to the Goods and Services Tax (GST) Laws
Posted Date : 03-Aug-2018 , 10:26:45 pm | Posted By CASANSAAR
The Government has proposed around 46 Amendments to the Goods and Services Tax (GST) laws viz., the Central Goods and Services Tax Act, 2017 along with the respective State Goods and Services Tax Act, 2017, Integrated Goods and Services Tax Act, 2017, Union Territory Goods and Services Tax...
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GST officers arrest 2 businessmen for Rs 201 crore tax evasion
Posted Date : 02-Aug-2018 , 07:27:25 am | Posted By CASANSAAR
GST officers have arrested two city based businessmen for evading taxes worth Rs 201 crore by fraudulently issuing invoices of Input Tax Credit (ITC) without actual supply of goods.
The Central GST Delhi West Commissionerate has arrested two Rohini-based businessmen in the plastic granule i...
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GST refunds worth Rs 54,378 crore cleared till July
Posted Date : 02-Aug-2018 , 12:34:02 pm | Posted By CASANSAAR
GST refund claims of Rs 54,378 crore of exporters have been cleared by the Centre and state tax officials till July end, the finance ministry said today. As of July 31, 2018, the total amount of Integrated GST (IGST) refund claims disposed by CBIC is Rs 29,829 crore, taking the disposal rate to 93 p...
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Cabinet clears amendments to GST laws
Posted Date : 02-Aug-2018 , 09:11:43 am | Posted By CASANSAAR
The Cabinet gave approval to GST laws amendments today, which included hiking threshold limit for availing composition scheme dealers to Rs. 1.5 crore, among other things.
The government will now table amendments to the Central GST law, Integrated GST law, Compensation Cess law in the ongoing mon...
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Government Collects Rs 96483 Crore GST For June
Posted Date : 02-Aug-2018 , 03:18:05 am | Posted By CASANSAAR
The Total Gross GST Revenue collected in the month of July 2018 is Rs. 96,483 crore of which CGST is Rs. 15,877 crore, SGST is Rs. 22,293 crore, IGST is Rs. 49,951 crore (including Rs. 24,852 crore collected on imports) and Cess is Rs. 8,362 crore (including Rs. 794 crore collected on imports). This...
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Number of cases of Tax Evasion reported Post GST regime
Posted Date : 01-Aug-2018 , 08:56:56 am | Posted By CASANSAAR
The number of cases of Tax Evasion reported post-GST regime are given in Table below:
Period
Detection
...
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Draft format of the New GST Return
Posted Date : 30-Jul-2018 , 08:44:55 pm | Posted By CASANSAAR
GST Council in its 27th meeting held on 4thMay, 2018 had approved the basic principles of GST return design. Now in its 28th meeting held on 21st July, 2018, GST Council approved the key features and new format of the GST returns. This brief note lists the salient features of the new return format a...
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Draft GST return forms to be released for public comments by Monday
Posted Date : 27-Jul-2018 , 09:06:37 am | Posted By CASANSAAR
The drafts of new forms for filing GST return will be put in public domain by early next week for stakeholder consultation, a revenue official said today.
GST Commissioner Upender Gupta said in the new return filing system 'nil' filers, who don't have purchase or supplies in a q...
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National Anti-Profiteering Authority to Audit e-commerce companies
Posted Date : 24-Jul-2018 , 08:14:10 am | Posted By CASANSAAR
Even before the GST came into effect on July 1, one of the stated objectives of the Central government was to eliminate multiple taxes and passes down the benefit to end consumers with a reduction in the prices of goods and services.
In an attempt to further reduce the burden of tax on end consum...
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Changes / Exemptions in GST Rates on Services
Posted Date : 21-Jul-2018 , 04:53:54 pm | Posted By CASANSAAR
The GST Council in its 28th meeting held here today under the Chairmanship of Shri Piyush Goyal , Union Minister for Railways , Coal , Finance & Corporate Affairs took following decisions relating to exemptions / changes in GST rates / ITC eligibility criteria, rationalization of rate...
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Recommendations made during the 28th GST Council Meeting held on 21st July 2018
Posted Date : 21-Jul-2018 , 04:46:08 pm | Posted By CASANSAAR
The GST Council in its 28thmeeting held here today has recommended certain amendments in the CGST Act, IGST Act, UTGST Act and the GST (Compensation to States) Act.
2. The major recommendations are as detailed below:
Upper limit of t...
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GST Council recommends GST rates reduction on several goods & for specified handicraft items
Posted Date : 21-Jul-2018 , 10:00:52 pm | Posted By CASANSAAR
The GST Council in its 28th meeting held here today under the Chairmanship of Shri Piyush Goyal , Union Minister for Railways , Coal , Finance & Corporate Affairs took following decisions on GST Rate on Goods .
GST rates reduction on 28% items:
28% to 18%
...
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GST council approves Simplified GST Return
Posted Date : 21-Jul-2018 , 04:16:15 pm | Posted By CASANSAAR
The GST Council in its 28th meeting held here today under the Chairmanship of Shri PiyushGoyal , Union Minister for Railways , Coal , Finance & Corporate Affairs has approved the new return formats and associated changes in law. It may be recalled that in the 27thmeeting held on 4thof May, ...
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Recommendations on opening of migration window for tax payers till 31st August ,2018
Posted Date : 21-Jul-2018 , 04:14:43 pm | Posted By CASANSAAR
The GST Council in its 28th meeting held here today has approvedthe proposal to open the migration window for taxpayers, who received provisional IDs but could not complete the migration process.
The taxpayers who filedPart A of FORM GST REG-26, but not Part B of ...
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Govt slashes GST rate on several products
Posted Date : 21-Jul-2018 , 09:29:42 pm | Posted By CASANSAAR
Conceding a year long demand, sanitary pads today exempted from GST as the GST Council reduced tax rates on an array of daily use appliances and products.
While GST tax on sanitary pads was cut from 12 per cent to zero, rakhis were exempted from the tax, Finance Minister Piyush Goyal told reporte...
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National GST appellate tribunal on anvil, Council to decide on July 21
Posted Date : 20-Jul-2018 , 08:48:31 am | Posted By CASANSAAR
The GST Council will consider setting up of a National Appellate Tribunal in Delhi with three regional benches with members from judiciary as well as tax departments to hear appeals against the order of the appellate authority set up by states under the GST regime.
According to the proposal...
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Grievance Redressal Officers for processing the complaints/information under e-way Bill System
Posted Date : 18-Jul-2018 , 05:17:57 pm | Posted By CASANSAAR
As per the decision of the GST Council, e-way bill system has been rolled-out in a staggered manner across the country. E-way bills are getting generated successfully and till 17th July, 2018, more than Thirteen Crore and Fifty Lakh e-way bills have been generated which includes Six Crore ...
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CBIC to observe Third Refund Fortnight to clear pending GST refunds
Posted Date : 17-Jul-2018 , 08:57:28 am | Posted By CASANSAAR
Refunds of GST have been a concern for the Government and Trade for the past several months. In this regard, the CBIC has observed two special drives cum refund fortnights in the Month of March, 2018 (15th to 31st March, 2018) and June, 2018 (31st May to 16th June, 2018) respectively. These re...
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Infosys to create new single page GST Return form
Posted Date : 16-Jul-2018 , 08:56:56 am | Posted By CASANSAAR
The GSTN Group of Ministers (GoM) has asked Infosys to create a new tax return filing form in an effort to simplify I-T returns for businesses.
Addressing newspersons at the ninth GSTN GoM meeting, Bihar Deputy Chief Minister Sushil Kumar Modi said taxpayers who file 37 returns a year will file j...
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No GST on foreign companies' payments to liaison offices for expenses - AAR
Posted Date : 14-Jul-2018 , 08:13:46 am | Posted By CASANSAAR
Foreign companies having liaison offices in India will not have to cough up goods and services(GST) on reimbursements of charges or expenses. A ruling by the Rajasthan Authority for Advance Rulings (AAR) has held that payment of salaries of employees and other working expenses are not services and n...
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