Biometric-Based Aadhaar Authentication & Document Verification for GST Registration Applicants of Bihar, Delhi, Karnataka and Punjab
Posted Date : 06-Sep-2024 , 09:56:58 pm | Posted By CASANSAAR
Dear Taxpayers,
This is to inform taxpayers about recent developments concerning the application process for GST registration. It is advised to keep the following key points in mind during the registration process.
1. Rule 8 of the CGST Rules, 2017 has been amended to provide ...
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Advisory on Reporting of supplies to un-registered dealers in GSTR1/GSTR 5 - GSTN
Posted Date : 04-Sep-2024 , 06:32:15 am | Posted By CASANSAAR
Vide Notification No. 12/2024 – Central Tax dated 10th July, 2024, the Government has reduced the threshold limit for reporting of invoice wise details of inter-state taxable outward supplies made to unregistered dealers from 2.5 Lakh to 1 Lakh which needs to be reported in Table 5 of Form GST...
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GST Collections Rise 10% to Rs 1.75 lakh Cr. in August 2024
Posted Date : 01-Sep-2024 , 09:30:05 am | Posted By CASANSAAR
Goods and Services Tax (GST) collections in August went up by 10 per cent from the same period last year to Rs 1,74,962 crore, according to official statement of government. This growth was observed across all categories: Central GST (CGST), State GST (SGST), Integrated GST (IGST), and cess.
A ye...
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Introduction of RCM Liability/ITC Statement - GSTN
Posted Date : 24-Aug-2024 , 09:36:41 am | Posted By CASANSAAR
To assist taxpayers in correctly reporting Reverse Charge Mechanism (RCM) transactions, a new statement called "RCM Liability/ITC Statement" has been introduced on the GST Portal. This statement will enhance accuracy and transparency for RCM transactions by capturing the RCM liability show...
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Over Rs 80,000 Cr worth GST notices issued for Assessment Year 2018-22
Posted Date : 23-Aug-2024 , 07:46:09 am | Posted By CASANSAAR
The investigation arm of the Goods and Services Tax (GST) authority has issued over 20,000 notices pan-India for assessment year (AY) 2017-18 to AY2021-22, involving tax demand of over Rs 80,000 crore, according to an initial estimation.
The Directorate General of GST Intelligence has shot the no...
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SBI Life gets GST demand notice of Rs 239 Cr
Posted Date : 23-Aug-2024 , 07:29:16 am | Posted By CASANSAAR
SBI Life on Thursday said tax authorities have slapped a demand notice of about Rs 239.27 crore on it for short payment of Goods and Services Tax (GST) for the financial year 2019-20.
The company has received an order for interest and penalty from the Deputy Excise & Taxation Commissioner, Ro...
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CBIC to begin special drive to weed out fake GST registration on Aug 16
Posted Date : 13-Aug-2024 , 09:34:57 pm | Posted By CASANSAAR
Central and state GST officers will launch a pan-India special two-month drive against fake registration beginning August 16, the CBIC said on Monday.
This is the second such drive to identify fake registrations under Goods and Services Tax (GST). Fake GST registrations are usually taken to fraud...
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GST Registration Can't Be Cancelled on Unspecific Show Cause Notice - High Court
Posted Date : 10-Aug-2024 , 08:37:44 am | Posted By CASANSAAR
The Delhi High Court has held that the GST registration cannot be cancelled on cryptic allegations and on the basis of the Show Cause Notice, which did not state any specific allegation, which could be explained by the taxpayer.
The court held that a show cause notice must clearly state the reaso...
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Infosys gets GST demand for alleged GST evasion of Rs 32,000 Cr
Posted Date : 01-Aug-2024 , 08:48:43 am | Posted By CASANSAAR
India’s second-largest IT company Infosys has received demand for alleged tax evasion of over Rs 32,000 crore from the Directorate General of GST Intelligence (DGGI), according to a document viewed by Moneycontrol.
"In lieu of receipt of supplies from overseas branch offices, the Compa...
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Fake ITC Claims Up 51% to Rs 36,374 Cr in FY24 - GST
Posted Date : 30-Jul-2024 , 08:44:48 am | Posted By CASANSAAR
Fake input tax credit (ITC) claims detection by central GST officers increased 51 per cent to Rs 36,374 crore in 2023-24, Parliament was informed on Monday.
Minister of State for Finance Pankaj Chaudhary shared details of the fake input tax Credit (ITC) cases booked by Central Tax formations duri...
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Punjab losing Rs 20,000 Cr to GST evasion each year
Posted Date : 27-Jul-2024 , 08:33:18 am | Posted By CASANSAAR
At a time when Punjab is passing through the toughest financial crisis, the SGST Department has completely failed to check the evasion of revenue. Due to such evaders, the state is losing huge revenue of more than Rs 20,000 crore a year. The Federation of Punjab Small Industries Association (FOPSIA)...
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GSTN Advisory for FORM GSTR-1A
Posted Date : 27-Jul-2024 , 08:23:01 am | Posted By CASANSAAR
FORM GSTR-1A
1. The Government vide notification No. 12/2024 – Central Tax dated 10.07.2024, has introduced FORM GSTR-1A which is an optional Form/ facility. This has been provided to the taxpayers to add or amend particulars of a supply of the current t...
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Integrated Services from NIC-IRP e-invoice-1 and e-invoice-2 Portals
Posted Date : 16-Jul-2024 , 09:45:21 pm | Posted By CASANSAAR
GSTN wish to inform that NIC is releasing the integrated services from e-invoice-1 and e-invoice-2 portals on 18th July 2024 on sandbox portals and 1st Aug 2024 on the production portals. These portals run in parallel and now allow for seamlessly inter-operations. The highlights of th...
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Refund of additional IGST paid on account of upward revision in prices of goods subsequent to exports
Posted Date : 15-Jul-2024 , 07:11:37 am | Posted By CASANSAAR
1. GST Council has approved that application of refund of additional IGST paid on account of upward revision in prices of goods subsequent to exports may also be processed by Tax Administration. Accordingly, Notification No. 12/2024-Central Tax dt. 10th July, 2024 has also been issued. GST...
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CBIC issues fresh norm for recovery of GST dues
Posted Date : 13-Jul-2024 , 09:50:36 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) has issued a fresh guideline to address the recovery of outstanding dues till the Goods and Services Tax Appellate Tribunal (GSTAT) becomes functional.
Taxpayers can escape the tax recovery process by paying the pre-deposit amount via their e...
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Increase in size of documents upload for GST New Registration and Amendment
Posted Date : 10-Jul-2024 , 08:13:42 am | Posted By CASANSAAR
GSTN is pleased to inform that changes have been made in size of document upload in Principal Place of Business and Additional Place of Business for New Registration and Amendment catering to the grievances received in the matter from trade.
Taxpayer can now upload following documents up to ...
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Less than 2% of taxpayers served CGST notices - FinMin
Posted Date : 23-Jun-2024 , 04:38:17 pm | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman on Saturday firmly asserted that the Centre’s intent was to make GST assessees’ life ‘easier, simpler and less cumbersome’, stressing that criticism about the harassment of taxpayers and excessive notices being sent was misinformed opinion ...
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Recommendations of 53rd GST Council Meeting
Posted Date : 22-Jun-2024 , 11:53:15 am | Posted By CASANSAAR
GST Council recommends waiving interest and penalties for demand notices issued under Section 73 of the CGST Act (i.e. the cases not involving fraud, suppression or wilful misstatement, etc.) for the fiscal years 2017-18, 2018-19 and 2019-20, if the full tax demanded is paid upto 31.03.2025
GST C...
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GST Council meeting may focus on procedural, compliance issues
Posted Date : 21-Jun-2024 , 06:23:45 pm | Posted By CASANSAAR
The upcoming meeting of the Goods and Services Tax Council is likely to focus on procedural issues and clarifications as well as pre-Budget discussions. Major decisions such as the review of the 28% tax on online gaming may be taken at a later date.
The 53rd meeting of the Goods and Services Tax ...
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Malabar porotta to attract 18% GST - Kerala High Court
Posted Date : 18-Jun-2024 , 08:59:02 pm | Posted By CASANSAAR
The Goods and Services Tax (GST) rate on Malabar porotta and whole wheat Malabar porotta will remain at 18% for two more months as a Division Bench of the Kerala High Court has stayed a single judge’s order that reduced the tax to 5%.
The Bench consisting of Justices A. Muhamed Mustaque and...
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GST Council to meet on Jun 22, may take up review of online gaming taxation
Posted Date : 13-Jun-2024 , 10:35:52 pm | Posted By CASANSAAR
The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet after a gap of eight months on June 22, and is likely to review the implementation of 28 per cent GST on the online gaming sector.
"The 53rd meeting of the GST Council will be held on 22nd June, 2024 at New Delhi,&quo...
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Multi-Crore GST Scam - 33 booked under Gangster Act, properties to be attached
Posted Date : 04-Jun-2024 , 08:09:01 am | Posted By CASANSAAR
The Noida police on Monday said that charges under the Gangsters Act have been invoked against 33 of the 45 accused arrested till date in the Goods and Services Tax (GST) fraud case.
On June 1, 2023, police claimed to have busted a gang suspected of orchestrating a ?10,000 crore GST fraud, the op...
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CBIC issues instructions for initiating early GST recovery
Posted Date : 03-Jun-2024 , 09:02:50 am | Posted By CASANSAAR
The CBIC has said the Principal Commissioner or commissioner level officers can issue directions to recover GST dues before the stipulated three months of serving of demand order.
Under the GST law, if a taxable person does not pay the amount specified in an order passed under the CGST Act ...
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GST appeal process to be fully digitised - GSTN
Posted Date : 03-Jun-2024 , 09:00:36 am | Posted By CASANSAAR
The Goods and Services Tax Network (GSTN) will digitilse the entire process of dispute resolution via appeal to the GST Appellate Tribunal (GSTAT), a senior official told FE. A portal is likely to be ready for this purpose before the full operationalisation of all the benches of the tribunal.
FE ...
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GSTN Advisory on launch of E-Way Bill 2 Portal
Posted Date : 30-May-2024 , 09:52:29 am | Posted By CASANSAAR
GSTN is pleased to inform that NIC is releasing the E-Way Bill 2 Portal (https://ewaybill2.gst.gov.in) on 1st June 2024. This portal ensures high availability and runs in parallel to the e-way Bill main portal (https://ewaybillgst.gov.in). The e-way bill 2 portal s...
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Information from manufacturers of Pan Masal and Tobacco taxpayers - GSTN
Posted Date : 17-May-2024 , 09:05:57 am | Posted By CASANSAAR
Government had issued a notification to seek information from taxpayers dealing in the goods mentioned therein vide Notification No. 04/2024 – Central Tax dated 05-01-2024. Two forms have been notified vide this notification namely GST SRM-I and GST SRM-II. The former pertains to reg...
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E-commerce firms seek clarity on registration under GST regime
Posted Date : 14-May-2024 , 07:39:35 am | Posted By CASANSAAR
With the rapid sprouting up of dark stores as part of their quick commerce strategies, e-commerce companies are seeking clarity from tax authorities for the registration process under the goods and services tax (GST) regime for their suppliers.
A dark store typically is a large warehouse and is u...
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Arrest under GST Act should not be based on mere suspicion - SC
Posted Date : 10-May-2024 , 10:18:41 am | Posted By CASANSAAR
The Supreme Court told the Centre on Thursday that any arrest under the Goods and Services Tax (GST) Act should not be on mere suspicion but has to be based on cogent material and adherence to proper procedure.
A bench of Justices Sanjiv Khanna, M M Sundresh and Bela M Trivedi said the material u...
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GST revenue collection for April 2024 highest ever at Rs 2.10 lakh Cr
Posted Date : 02-May-2024 , 08:07:09 am | Posted By CASANSAAR
The Gross Goods and Services Tax (GST) collections hit a record high in April 2024 at ?2.10 lakh crore. This represents a significant 12.4% year-on-year growth, driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%). After accounting for refunds, the net GST reven...
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Patanjali asked to pay Rs 27.5 Cr for GST infraction
Posted Date : 01-May-2024 , 10:00:03 am | Posted By CASANSAAR
Notification Date: 29-04-2024Notification No: N/APatanjali Receives Rs 27.5 Crore Tax Claim From GST AuthorityOn Friday, Patanjali Foods said it had received a show cause notice from the Directorate General of GST Intelligence in Chandigarh over a Rs 27.5 crore tax claim,
The authority has pulled...
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