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

Canteen services for employees out of GST net - AAR
Posted Date : 20-Oct-2021 , 08:34:08 am | Posted By CASANSAAR

Canteen charges collected from employees will now be outside the gamut of goods and services tax following a tax ruling that offers some relief to several large industrial and manufacturing units. In a recent ruling, the Gujarat Authority for Advance Ruling (AAR) said that GST is not applicable o...

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Category : GST | Comments : 0 | Hits : 554

Delhi GST officers busts fictitious exporter network for Rs.134 Cr ITC Fraud
Posted Date : 14-Oct-2021 , 07:37:47 am | Posted By CASANSAAR

GST officers in Delhi have busted a network of fictitious exporters and arrested one person for fraudulently claiming input tax credit of ₹134 crore. The Finance Ministry said that based on risk analysis, M/s Vibe Tradex, engaged in export of Pan Masala, chewing tobacco, FMCG goods etc, was i...

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Category : GST | Comments : 0 | Hits : 672

GST Network blocks Rs. 14,000 Cr input tax credits of 66,000 taxpayers
Posted Date : 13-Oct-2021 , 08:55:03 am | Posted By CASANSAAR

The Goods and Service Tax Network (GSTN) on Tuesday said it has blocked ₹14,000 crore worth of input tax credit (ITC) of 66,000 businesses registered under the GST. Responding to social media posts based on an RTI reply about the ₹6.14 lakh crore of ITC blocked under Rule 86A of the GST law...

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Category : GST | Comments : 0 | Hits : 1083

Ice cream supplied by parlours to attract 18% GST
Posted Date : 07-Oct-2021 , 08:21:15 am | Posted By CASANSAAR

Ice creams sold by a parlour or such outlets will attract 18 percent Goods and Services Tax (GST), the CBIC said on Wednesday. In two sets of circulars, the Central Board of Indirect Taxes and Customs (CBIC) clarified on issues raised by trade and industry on rates changes related to 21 goods and...

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Category : GST | Comments : 0 | Hits : 857

GST registration can't be cancelled if business not carried out from premises due to Covid 19 norms, protocols - Calcutta HC
Posted Date : 05-Oct-2021 , 09:08:15 am | Posted By CASANSAAR

The Calcutta High Court has ruled that goods and service tax registration cannot be cancelled if business was not carried out from the premises, due to the nationwide Covid pandemic. The order was issued in case of an appeal filed by International Value Retail against revenue department and GST a...

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Category : GST | Comments : 0 | Hits : 1019

No GST input tax credit on CSR expenses - AAR
Posted Date : 04-Oct-2021 , 09:55:14 am | Posted By CASANSAAR

The Gujarat bench of the Authority for Advance Rulings (AAR) recently held that corporate social responsibility (CSR) activities under the Companies (CSR Policy) Rules are excluded from the normal course of business. Its ruling came in a case where the applicant was a private limited company, Adama ...

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Category : GST | Comments : 0 | Hits : 582

GST collection for September crosses Rs.1.17 lakh Cr
Posted Date : 02-Oct-2021 , 07:15:02 am | Posted By CASANSAAR

The gross GST revenue collected in the month of September was 1,17,010 crore rupees, which included CGST component of 20,578 crore, SGST 26,767 crore and IGST component of 60,911 crore rupees. The revenue for September was 23 per cent higher than the GST revenues in the same month last year. Duri...

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Category : GST | Comments : 0 | Hits : 379

CBIC asks taxmen to complete GST evasion investigations within a year
Posted Date : 25-Sep-2021 , 09:01:39 am | Posted By CASANSAAR

The Central Board of Indirect Taxes and Customs (CBIC) has asked field offices to draw up an action plan so that no case of GST evasion is pending investigation beyond one year. In an instruction to field formations, the CBIC has also asked GST officers to speed up investigation and issue show-ca...

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Category : GST | Comments : 0 | Hits : 559

Recommendations of 45th GST Council Meeting
Posted Date : 18-Sep-2021 , 08:01:43 am | Posted By CASANSAAR

Life-saving drugs Zolgensma and Viltepso used in treatment of Spinal-Muscular Atrophy exempted from GST when imported for personal use Extension of existing concessional GST rates on certain COVID-19 treatment drugs upto 31st December 2021 GST rates on 7 other medicines recommended by De...

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Category : GST | Comments : 0 | Hits : 1009

HC stays order related to levy of GST on flat, villa maintenance charges
Posted Date : 11-Sep-2021 , 09:55:56 am | Posted By CASANSAAR

Flat or villa owners paying more than ₹7,500 a month to their resident welfare associations towards maintenance charges will now have to pay Goods and Services Tax (GST) at the rate of 18% for the entire contribution since a Division Bench of the Madras High Court on Thursday stayed a single judge...

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Category : GST | Comments : 0 | Hits : 2424

GST collection crosses Rs 1.12 lakh Cr. in August 2021
Posted Date : 02-Sep-2021 , 10:30:17 am | Posted By CASANSAAR

Goods and Service Tax collection for the month of August 2021 came in at Rs 1.12 lakh crore, compared with Rs 1.16 lakh crore in July, data released by the Finance Ministry show on September 1. This is the second consecutive month that GST collections are above the Rs 1 lakh crore mark, indicatin...

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Category : GST | Comments : 0 | Hits : 300

Extension of closing date of late fee amnesty scheme and time limit for filing of application for revocation of cancellation of registration
Posted Date : 30-Aug-2021 , 08:21:32 am | Posted By CASANSAAR

The Government, vide Notification No. 19/2021- Central Tax, dated 01.06.2021, had provided relief to the taxpayers by reducing / waiving late fee for non-furnishing FORM GSTR-3B for the tax periods from July, 2017 to April, 2021, if the returns for these tax periods are furnished between 0...

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Category : GST | Comments : 0 | Hits : 546

GST defaulters of last two months to be barred from filing GSTR-1
Posted Date : 28-Aug-2021 , 07:45:27 am | Posted By CASANSAAR

GSTN stated in the advisory that “a registered person shall not be allowed to furnish the details of outward supplies of goods or services or both under section 37 in Form GSTR-1, if he has not furnished the return in Form GSTR-3B for preceding two months." Businesses have to file GSTR...

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Category : GST | Comments : 0 | Hits : 562

Papads don’t attract GST, but fryums face 18% rate
Posted Date : 25-Aug-2021 , 08:16:45 am | Posted By CASANSAAR

No Gujarati thali is complete without a papad, be it fried or roasted. Fortunately for consumers, as the GST burden is ultimately borne by them, the Gujarat bench of the Authority for Advance Ruling (AAR) has held that Papads will attract nil GST. Interestingly, the AAR bench observed that Papa...

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Category : GST | Comments : 0 | Hits : 448

No GST on canteen charges recovered from employees - AAR
Posted Date : 23-Aug-2021 , 08:31:49 am | Posted By CASANSAAR

GST will not be levied on the amount paid by employees for availing canteen facilities provided by their employers, the AAR has ruled.   Tata Motors had approached the Gujarat bench of Authority for Advance Ruling (AAR) seeking a ruling on whether Goods and Services Tax (GST) is applic...

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Category : GST | Comments : 0 | Hits : 388

Treated and purified sewage water for industrial use to attract 18 pc GST - AAR
Posted Date : 02-Aug-2021 , 08:37:42 am | Posted By CASANSAAR

Treated and purified sewage water is classified as 'water' under the GST Act and its supply for industrial use would attract an 18 per cent tax, the Authority for Advance Ruling (AAR) has said. Nagpur Waste Water Management Pvt Ltd had approached the Maharashtra bench of AAR seeking a rul...

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Category : GST | Comments : 0 | Hits : 308

Gross GST collection in July crosses 1 lakh 16 thousand Cr rupees
Posted Date : 02-Aug-2021 , 08:33:01 am | Posted By CASANSAAR

The gross GST revenue collected in July crossed 1,16,000 crore rupees indicating that the economy is recovering at a fastpace and the robust GST revenues are likely to continue in the coming months too, the Finance Ministry Said. The revenues for the month of July 2021 are 33 per cent  higher t...

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Category : GST | Comments : 0 | Hits : 154

Gujarat govt transfers 36 officials for ‘fair probe’ into Rs 1,000 cr fake GST bill case
Posted Date : 31-Jul-2021 , 08:43:13 am | Posted By CASANSAAR

In connection with a case involving more than Rs 1,000 crore of fake GST (Goods and Services Tax) bills in Bhavnagar, the Gujarat government on Friday transferred 36 officials from Bhavnagar ranging from the deputy state tax commissioner to employees as junior as a clerk. The move is to ensure fair ...

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Category : GST | Comments : 0 | Hits : 339

Delhi-based businessman arrested for passing on fake input tax credit of Rs.128 Cr
Posted Date : 26-Jul-2021 , 08:45:52 am | Posted By CASANSAAR

GST Intelligence officials have arrested a Delhi-based businessman here for allegedly fraudulently passing on input tax credit (ITC) worth ₹128 crore, a senior official said on Sunday. Investigations conducted by the officials of the Chandigarh zonal unit of the Directorate General of GST (Good...

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Category : GST | Comments : 0 | Hits : 1324

GST only on monthly maintenance over Rs 7,500 - Madras HC
Posted Date : 15-Jul-2021 , 09:36:14 am | Posted By CASANSAAR

In a relief to resident welfare association (RWA) members across middle and high-end housing societies, the Madras High Court has ruled that the goods and services tax (GST) is applicable to monthly maintenance amount exceeding ₹7,500 only and not on the full amount. The decision overturns a 20...

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Category : GST | Comments : 0 | Hits : 1534

GST officers unearth over Rs 35,000 Cr fraud in 2020-21, arrest 426 people
Posted Date : 14-Jul-2021 , 10:10:34 am | Posted By CASANSAAR

In the year-long crackdown on tax evasion, the GST authorities have unearthed over Rs 35,000 crore of tax fraud committed by misuse of input tax credit provision under the Goods and Services Tax (GST) regime. During the 2020-21 financial year, the CGST zones and the Directorate General of GST Intell...

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Category : GST | Comments : 0 | Hits : 1547

GST officers bust network of 23 firms involved in fake ITC claims of Rs 550 cr
Posted Date : 13-Jul-2021 , 09:32:04 am | Posted By CASANSAAR

GST officers have busted a network of 23 entities involved in creation of fake invoices worth Rs 551 crore and passing inadmissible input tax credit worth Rs 91 crore. Based upon specific intelligence, the officers of the anti-evasion branch of Central Goods and Service Tax (CGST) Commissionerate...

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Category : GST | Comments : 0 | Hits : 483

GST collection for June falls to Rs 92,849 Cr, lowest in 10 months
Posted Date : 07-Jul-2021 , 10:05:12 am | Posted By CASANSAAR

The economic impact the 'second wave' of Covid-19 showed on Goods and Service Tax (GST) as collections for June 2021 fell to Rs 92,849 crore, the Finance Ministry said on July 6. This is the first time in nine months that monthly GST collections have slipped below the Rs 1 lakh crore mark. ...

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Category : GST | Comments : 0 | Hits : 509

Government to honour tax payers who have been part of GST's success story
Posted Date : 01-Jul-2021 , 09:33:35 am | Posted By CASANSAAR

The Goods and Services Tax (GST) system, country’s biggest tax reform, is going to complete four years today. During these years, several key policy initiatives were taken by the government to make the GST system and compliance mechanism simple, transparent and technology driven. GST is a r...

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Category : GST | Comments : 0 | Hits : 336

CBIC clarifies on QR codes for companies with turnover of over Rs 500 Cr
Posted Date : 23-Jun-2021 , 08:51:20 am | Posted By CASANSAAR

The Central Board of Indirect Taxes and Customs (CBIC) has issued a clarification on QR codes for businesses with a turnover of more than Rs 500 crore, The Economic Times has reported. The CBIC has said that these companies supplying services to entity located overseas and receiving payments thro...

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Category : GST | Comments : 0 | Hits : 634

Liaison office has to pay GST - AAR
Posted Date : 05-Jun-2021 , 09:24:42 am | Posted By CASANSAAR

The GST Authority for Advance Rulings (AAR - Maharashtra bench) has held a liaison office, in Mumbai, of the Dubai Chamber of Commerce and Industry (DCCI) to be an ‘intermediary’, which is providing services. The AAR concluded that the liaison office is liable to register under the Goods...

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Category : GST | Comments : 0 | Hits : 3751

Recommendations of 43rd GST Council meeting
Posted Date : 29-May-2021 , 09:00:43 am | Posted By CASANSAAR

The 43rd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman through video conferencing here today. The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Minist...

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Category : GST | Comments : 0 | Hits : 4340

Govt Integrates E-way Bill with FasTag, RFID; GST Officers to Have Real-time Data of CVs
Posted Date : 24-May-2021 , 11:23:06 am | Posted By CASANSAAR

GST officers have been armed with real-time data of commercial vehicle movement on highways with the integration of the e-way bill (EWB) system with FasTag and RFID, a move which will help in live vigilance of such vehicles and check GST evasion. Additional features have been added to the e-way bill...

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Category : GST | Comments : 0 | Hits : 413

Govt relaxes GST refund claim norms
Posted Date : 21-May-2021 , 09:42:23 am | Posted By CASANSAAR

The Central Board of Indirect Taxes and Customs (CBIC) has eased the norms for claiming Goods and Services Tax (GST) refunds making it easier for businesses to rectify their applications. The tax authority said in the CGST (Fourth Amendment) Rules issued on Tuesday that the period between filing ...

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Category : GST | Comments : 0 | Hits : 261

Enhancement of facilities under the Customs(Import of Goods at Concessional Rate of Duty) Rules, 2017
Posted Date : 19-May-2021 , 08:30:33 am | Posted By CASANSAAR

The Finance Minister had in her Budget Speech this year announced that the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017 (IGCR, 2017) would be amended to boost trade facilitation. Accordingly, the Central Board of Customs and Indirect Taxes( CBIC) had immediately enhanced the sc...

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Category : GST | Comments : 0 | Hits : 198

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