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News - (Get Professional Updates on Whatsapp, Msg on 8285393786) Category : GST

One held by CGST Delhi East officials for availing fake input tax credit of Rs 82.23 Cr
Posted Date : 19-Jan-2021 , 09:15:02 am | Posted By CASANSAAR

In the ongoing drive against availment of inadmissible ITC, officers of Central Goods and Services Tax (CGST) Commissionerate, Delhi East unearthed a multi-layered network of fictitious firms being used to generate and pass on fake ITC. Through the use of extensive data analytics, officers identi...

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Category : GST | Comments : 0 | Hits : 310

CA arrested for issuing fake bills of Rs 79.5 Cr Delhi CGST officials
Posted Date : 16-Jan-2021 , 08:46:20 am | Posted By CASANSAAR

The officers of Central Goods and Service Tax (CGST) commissionerate, Delhi (east) have detected a case of issue of fake bills of Rs 79.5 crore to wrongfully avail input tax credit (ITC) and arrested a Chartered Accountant (CA), according to an official statement issued on Friday. CA through thes...

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Category : GST | Comments : 0 | Hits : 815

Mumbai businessman arrested for GST fraud worth Rs 31 Cr
Posted Date : 16-Jan-2021 , 08:38:02 am | Posted By CASANSAAR

The Maharashtra Goods and Services Tax (GST) department on Friday arrested a Vile Parle-based businessman for allegedly causing revenue loss of Rs. 31 crore to the state government by fraudulently claiming input tax credit. The joint commissioner of Maharashtra GST, Sampada Mehta, confirmed the d...

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Category : GST | Comments : 0 | Hits : 346

18% GST on recovered pay for employees while leaving job without serving notice period
Posted Date : 14-Jan-2021 , 09:10:33 am | Posted By CASANSAAR

Leaving your job without serving the stipulated notice period will now cost employees 18 percent goods and services (GST) tax on the pay recovered for the notice period duration. The Gujarat Authority of Advance Ruling has held that an employee exiting a company without completing their notice pe...

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Category : GST | Comments : 0 | Hits : 1215

Delhi HC upholds arrest provision in CGST Act for tax evasion
Posted Date : 11-Jan-2021 , 09:28:11 am | Posted By CASANSAAR

The Delhi High Court has upheld the controversial provisions in the Central Goods and Service Tax (CGST) Act that gives power to authorities to arrest any person if there is “reason to believe” that he has committed tax evasion. A Bench of Justice Manmohan and Justice Sanjeev Narula g...

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Category : GST | Comments : 0 | Hits : 869

Rs 700 crore recovered, 215 arrested in crackdown on fake GST bills scam
Posted Date : 11-Jan-2021 , 09:20:28 am | Posted By CASANSAAR

Government's crackdown on GST fake invoice scam has resulted in recovery of Rs 700 crore, arrests of 215 persons, and unearthing of 6,600 fake GST Identification Numbers (GSTIN). About 2,200 cases have been filed over the past two months. Sources said that those arrested not only include fake...

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Category : GST | Comments : 0 | Hits : 961

DGGI Gurugram arrests one for fraudulently availing ITC of Rs 8 crore
Posted Date : 09-Jan-2021 , 09:46:09 am | Posted By CASANSAAR

The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana has arrested one Shri Sanjay Goel, resident of New Delhi on charges of illegally availing and passing on input tax credit (ITC)  on goods-less invoices. On the basis of the investigation conducted till date...

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Category : GST | Comments : 0 | Hits : 270

Due date for filing GST Returns for period October - December is January 13 - GSTN
Posted Date : 06-Jan-2021 , 08:10:22 am | Posted By CASANSAAR

The due date for quarterly filing of Goods and Services Tax Returns for the third quarter of 2020 (the period between October and December) is January 13, the GSTN said on Tuesday. "The date currently being shown in the GSTR-1 tile is 31.01.2021 which is erroneous and the correct date i.e. 13.0...

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Category : GST | Comments : 0 | Hits : 382

Power To Block GST Credit Mustn’t Be Used To Harass Taxpayers - Gujarat High Court
Posted Date : 05-Jan-2021 , 08:58:19 am | Posted By CASANSAAR

The power of GST authorities to block credit is drastic in nature and mustn’t be used to harass taxpayers, the Gujarat High Court has said. The court expressed the need for the government to issue guidelines and the procedure to be followed by GST authorities while exercising their powers to b...

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Category : GST | Comments : 0 | Hits : 266

Govt crackdown on 7,000 GST evaders, 185 arrested
Posted Date : 05-Jan-2021 , 08:34:43 am | Posted By CASANSAAR

Armed with data analytics and information from agencies, the government has launched a massive crackdown on GST evaders, initiating action against 7,000 entities including arrest of 187 -- a campaign that contributed to buoyancy in tax collection, Finance Secretary Ajay Bhushan Pandey said on Sunday...

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Category : GST | Comments : 0 | Hits : 2602

CGST Delhi Commissionerate arrests one for duty evasion of around Rs 831.72 Cr
Posted Date : 04-Jan-2021 , 08:21:37 am | Posted By CASANSAAR

The Central GST Delhi West Commissionerate has unearthed evasion of GST by way of manufacture and clandestine supply of gutkha/pan masala/tobacco products without any registration and payment of duty. On basis of the search at the premise of manufacture, it was found that illegal manufacturing of Gu...

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Category : GST | Comments : 0 | Hits : 442

GST collections touch all time high of over Rs one lakh Cr in December
Posted Date : 02-Jan-2021 , 09:33:03 am | Posted By CASANSAAR

GST Revenue collection for last month has been recorded to be an all time high since the implementation of the Goods and Services Tax in the country. The gross GST revenue collected in the month of December 2020 is  1 lakh 15 thousand 174 crore rupees. The revenue collected is 12 per cent hi...

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Category : GST | Comments : 0 | Hits : 594

Govt issued notification to curb menace of fake GST invoice by fraudsters
Posted Date : 24-Dec-2020 , 10:12:34 am | Posted By CASANSAAR

Finance Minister Nirmala Sitharaman has said that the government has issued a notification to curb the menace of fake GST invoice by fraudsters or fly-by-night firms. She said, the move comes following recommendations of the GST Council’s Law Committee in this regard. Ms Sitharaman said,...

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Category : GST | Comments : 0 | Hits : 1383

GST officers arrest 140 persons including 5 chartered accountants on charges of fake invoicing
Posted Date : 15-Dec-2020 , 09:02:44 am | Posted By CASANSAAR

GST authorities have arrested as many as 140 persons, including five chartered accountants, in about a month's time on charges of issuing fake invoices, and have now trained their guns on entities transporting under-valued goods. In its nationwide drive against fake invoice frauds since the s...

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Category : GST | Comments : 0 | Hits : 4815

GST taxpayers to get flexibility to decide on monthly tax payment
Posted Date : 14-Dec-2020 , 10:06:03 am | Posted By CASANSAAR

Come January 1 and GST taxpayers would be able to pay their tax dues on a self assessment basis without having to go through the cumbersome process of filing tax returns on a monthly basis. The Central Board of Indirect Taxes and Customs (CBIC) will introduce the new Quarterly Return and Monthly ...

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Category : GST | Comments : 0 | Hits : 1452

GST Network enables fully auto-populated monthly sales return form GSTR-3B
Posted Date : 14-Dec-2020 , 09:52:52 am | Posted By CASANSAAR

Businesses will now get complete auto-populated monthly sales return form GSTR-3B, GST Network said on Sunday. "For ease of taxpayers, now the system will auto populate GSTR-3B (monthly) on the basis of details filed in GSTR-1 and auto-drafted ITC statement GSTR-2B from November 2020 tax per...

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Category : GST | Comments : 0 | Hits : 1274

Over 1,63,000 GST registrations cancelled in two months for return filing defaults
Posted Date : 12-Dec-2020 , 10:29:11 am | Posted By CASANSAAR

Goods and Services Tax (GST) authorities have cancelled 1,63,042 GST registrations in October and November for defaulting on filing monthly tax returns for more than six months, said a government official. Besides, 28,635 other taxpayers have been identified for cancellation of registration for d...

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Category : GST | Comments : 0 | Hits : 1293

Delhi HC says entire concept of GST getting defeated by Input Tax Credit
Posted Date : 11-Dec-2020 , 09:26:14 am | Posted By CASANSAAR

The Delhi High Court today observed that the entire concept of the Goods and Services Tax (GST) is getting defeated by the input tax credit while hearing a petition by a businessman seeking protection from arrest in a case of alleged wrongly/illegally availed of Input Tax Credit.    The ...

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Category : GST | Comments : 0 | Hits : 1526

GSTR-9 of FY 2019-20 is available on GST Portal
Posted Date : 11-Dec-2020 , 09:17:10 am | Posted By CASANSAAR

Facility to file annual return in Form GSTR-9 for FY 2019-20 is now available. The Form is enabled for taxpayers whose table 8A computation has been completed. Computation of the table 8A of the said return for auto population from returns is under progress which is likely to be completed soon. ...

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Category : GST | Comments : 0 | Hits : 1267

QRMP scheme launched for GST payers with turnover up to Rs 5 Cr
Posted Date : 07-Dec-2020 , 02:16:02 pm | Posted By CASANSAAR

The government has launched the Quarterly Return filing & Monthly Payment of Taxes (QRMP) scheme for small taxpayers under GST system. Taxpayers with aggregate annual turnover of up to Rs 5 crore in the preceding financial year and have filed their October GSTR-3B (sales) return by November 3...

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Category : GST | Comments : 0 | Hits : 301

Supreme Court upholds imposition of GST on lotteries, betting and gambling
Posted Date : 04-Dec-2020 , 09:24:21 am | Posted By CASANSAAR

The Supreme court on Thursday upheld that the Goods and Service Tax (GST) shall be imposed on the sale of lotteries, betting and gambling. The apex court bench headed by Justice Ashok Bhushan upheld the notification issued under the Central Goods and Services Tax Act, 2017 wherein the lottery and...

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Category : GST | Comments : 0 | Hits : 466

All States except Jharkhand choose Option-1 to meet the GST implementation shortfall
Posted Date : 04-Dec-2020 , 08:47:59 am | Posted By CASANSAAR

Government of Chhattisgarh has communicated its acceptance of Option-1 to meet the revenue shortfall arising out of GST implementation. The number of States who have favoured Option-1 has gone up to 27. All States except Jharkhand and all the 3 Union Territories with Legislative Assembly have decide...

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Category : GST | Comments : 0 | Hits : 226

GST Revenue collected in November crosses 1 Lakh Cr
Posted Date : 02-Dec-2020 , 09:23:10 am | Posted By CASANSAAR

The gross GST revenue collected in the month of November, 2020 is Rs. 1,04,963 crore of which CGST is Rs. 19,189 crore, SGST is Rs. 25,540 crore, IGST is Rs. 51,992 crore (including Rs. 22,078 crore collected on import of goods) and Cess is Rs. 8,242crore (including Rs. 809 crore collected on import...

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Category : GST | Comments : 0 | Hits : 1182

CBIC waives penalty on QR code on e-invoices till March 31, 2021
Posted Date : 30-Nov-2020 , 10:17:29 am | Posted By CASANSAAR

The Central Board of Indirect Taxes and Customs (CBIC) has waived penalty on non- implementation of dynamic quick response code which is mandatory for companies over Rs 500 crore turnover, till March 31, 2021. According to a notification issued Sunday, the Board said that the waiver will be appli...

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Category : GST | Comments : 0 | Hits : 342

Over 5.4 lakh businesses risk losing GST registration for defaults
Posted Date : 29-Nov-2020 , 10:40:40 am | Posted By CASANSAAR

About 25,000 businesses who missed filing Goods and Services Tax (GST) return in November will get text messages and emails from tax authorities urging them to comply with the requirement by Monday as the government steps up its compliance drive. Also, about 5,43,000 businesses that have defaulte...

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Category : GST | Comments : 0 | Hits : 911

GST officers arrest one for Rs 129 Cr tax evasion through illegal manufacture
Posted Date : 29-Nov-2020 , 10:32:36 am | Posted By CASANSAAR

Officers of GST investigation arm DGGI have arrested a Haryana resident on charges of manufacturing and supplying cigarettes illegally and thereby evading taxes of over Rs 129 crore, the Finance Ministry has said. "The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU),...

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Category : GST | Comments : 0 | Hits : 578

Four arrested for GST fraud worth over Rs 2,400 Cr on 10th day of nationwide drive
Posted Date : 26-Nov-2020 , 09:41:13 am | Posted By CASANSAAR

The government on Wednesday arrested three people involved in Goods and Services Tax (GST) evasion worth Rs2,352 crore in the Mumbai region, and one person in Vadodara who created 115 fake firms to fraudulently usurp input tax credit (ITC) of over Rs50 crore through bogus invoices, two officials sai...

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Category : GST | Comments : 0 | Hits : 1667

GST registration to get tougher with live photo, biometrics
Posted Date : 24-Nov-2020 , 09:21:30 am | Posted By CASANSAAR

GST registration could become tedious if the GST Council accepts its Law Committee's recent recommendations to plug GST leakages via input tax credit (ITC) using fake invoices. According to sources, the Law Committee of GST Council has suggested tightening of fresh registration of taxpayers u...

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Category : GST | Comments : 0 | Hits : 1735

41 arrested in fake invoice case; three CAs face disciplinary action
Posted Date : 21-Nov-2020 , 09:14:54 am | Posted By CASANSAAR

Forty one people have been arrested in the last eight days in a fake invoice cartel busted by the Directorate General of GST Intelligence (DGGI) and three of them who are chartered accountants are facing disciplinary action, said a government official. DGGI will inform accounting rule maker and p...

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Category : GST | Comments : 0 | Hits : 944

Monthly GST filing will not be necessary after e-invoice system is in place - Finance secretary
Posted Date : 20-Nov-2020 , 09:48:49 am | Posted By CASANSAAR

In a major relief to businesses, the government plans to do away with monthly filing of Goods and Services Tax (GST) returns after the electronic invoice (e-invoice) is fully operationalised, which will not only reduce compliance burden but also check tax evasion, finance secretary Ajay Bhushan Pand...

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Category : GST | Comments : 0 | Hits : 1179

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