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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Taxmen arrest three for issuing fake GST invoices to claim input tax credit
Posted Date : 27-Sep-2018 , 08:08:28 am | Posted By CASANSAAR
The Commercial Taxes department has busted a racket involved in issuing fake GST invoices to help some dealers claim input tax credit (ITC) from the government.
Three Bengaluru-based businessmen, who have been arrested, had issued fake GST invoices worth Rs 203 crore to facilitate bogus cla...
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Cabinet clears proposal to make GSTN 100% Govt-owned Co.
Posted Date : 26-Sep-2018 , 09:30:36 pm | Posted By CASANSAAR
The Union Cabinet Wednesday cleared a proposal to convert GST Network (GSTN), which provides IT infrastructure for the new indirect tax regime, into a 100 per cent government-owned company, Finance Minister Arun Jaitley said.
Briefing reporters about the decisions taken in the Cabinet meeti...
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Infosys to design new forms for filing GST returns
Posted Date : 24-Sep-2018 , 11:10:47 pm | Posted By CASANSAAR
The Goods and Services Tax Network (GSTN) has directed its software vendor Infosys to design new forms for filing returns by traders, said its Group of Ministers Chairman Sushil Kumar Modi on Saturday.
"We have directed Infosys to design the new forms as suggested by the GST Council to...
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Exam, Pattern & Syllabus for GST Practitioners
Posted Date : 17-Sep-2018 , 11:10:53 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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Govt sets up office of GST Commissioner (Investigation) to deal with tax evasion
Posted Date : 12-Sep-2018 , 10:04:15 pm | Posted By CASANSAAR
The revenue department has created the office of Commissioner GST (Investigation) to deal exclusively with enforcement issues like search, seizure and arrest, as it looks to crackdown on tax evaders.
Initially, the government was going slow on enforcement action to give time to the industry...
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Govt waives off late fee on GST returns
Posted Date : 11-Sep-2018 , 08:01:07 am | Posted By CASANSAAR
The government has launched a one-time scheme to waive late fee for delayed furnishing of filing the goods and services tax (GST) return-1 form for the period July 2017 to September 2018, to encourage taxpayers to furnish the returns.
The waiver, which will be effective till 31 ...
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Extension of Due Dates for filing of FORM GSTR-1 and FORM GSTR-3B in certain cases
Posted Date : 10-Sep-2018 , 10:37:15 pm | Posted By CASANSAAR
It has been observed that the number of taxpayers who have filed FORM GSTR-3B is substantially higher than the number of taxpayers who have furnished FORM GSTR-1. Non-furnishing of FORM GSTR-1 is liable to late fee and penalty as per the provisions of the GST law. In order to encourage taxpayers to ...
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FinMin simplifies GST refund claim process for businesses to ease compliance burden
Posted Date : 06-Sep-2018 , 08:07:41 am | Posted By CASANSAAR
Easing compliance burden for businesses, the Finance Ministry has said GST refunds can be claimed by simply submitting a printout of 'GSTR-2A' form to tax authorities instead of giving all purchase invoices of a month.
GSTR-2A is a purchase return auto-generated by the system based on the...
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Government notifies new annual return form for GST
Posted Date : 05-Sep-2018 , 09:40:59 am | Posted By CASANSAAR
The government has notified a new return form for goods and services tax (GST) that will have to filed for the full year.
The normal taxpayers will need to file GSTR-9 return form while composition taxpayers will have GSTR-9A. The last date for filing the annual return form for 2017-18 is D...
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Govt spent Rs 132.38 crore on GST advertisements
Posted Date : 03-Sep-2018 , 12:29:34 pm | Posted By CASANSAAR
The government spent Rs 132.38 crore on advertisements for GST, an agency under the Ministry of Information and Broadcasting has said in reply to an RTI query.
As per the Bureau of Outreach and Communication under the ministry, the "expenditure on GST advertisements through this bureau...
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GST Revenue collection for Aug 2018 close to Ninety Four Thousand Cr rupees
Posted Date : 01-Sep-2018 , 11:05:30 am | Posted By CASANSAAR
The total gross GST revenue collected in the month of August, 2018 is Rs. 93,960crore of which CGST is Rs. 15,303 crore, SGST is Rs. 21,154 crore, IGST is Rs. 49,876 crore (including Rs. 26,512 crorecollected on imports) and Cess is Rs. 7,6...
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GST Council to consider ways to raise funds to aid Kerala
Posted Date : 29-Aug-2018 , 08:41:34 am | Posted By CASANSAAR
The GST Council, in its next meeting, will take a call on a special tax rate or cess for Kerala to raise additional resources.
For the first time after GST was introduced in July 2017, a State will seek additional resources through increased tax rates.
“The issue is what can be considere...
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Last date for filing GST returns in Kerala, Mahe and Kodagu extended
Posted Date : 22-Aug-2018 , 04:08:01 am | Posted By CASANSAAR
In view of the disruption caused due to severe floods in Kerala, Mahe (Puducherry) and Kodagu (Karnataka), the Competent Authority has extended the due dates for filing of the following GST returns by taxpayers registered in these areas:
Sl. No.
Return
Class of taxpayers...
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Due Date for filing GSTR 3B of July 2018 extended to 24th Aug, 2018
Posted Date : 21-Aug-2018 , 06:08:40 pm | Posted By CASANSAAR
Last date of filing GSTR-3B for the month of July, 2018 has been extended to 24th Aug, 2018. Official Order is expected in sometime. Official Order is expected in sometime
Source - GST Portal
https://www.gst.gov.in
...
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GST Council may propose inclusion of ATF under GST
Posted Date : 20-Aug-2018 , 09:32:13 pm | Posted By CASANSAAR
Giving in to demand from the airlines, the GST Council may propose to bring Aviation Turbine Fuel (ATF) under the indirect tax regime in its next meeting.
The aviation ministry has been pitching for inclusion of ATF in the goods and services tax regime, stating that the move will help cut the cos...
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18% GST on salary paid for services by a firm to its branch offices in other states
Posted Date : 17-Aug-2018 , 09:13:02 am | Posted By CASANSAAR
Salary for services like accounting, IT, human resource, provided by the head office of a company to its branch offices in other states will attract 18 per cent GST.
According to an order passed by the Karnataka bench of the Authority for Advance Ruling (AAR), the activities between two off...
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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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