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News Category : GST

Advisory to UIN Entities claiming GST Refunds
Posted Date : 09-Nov-2018 , 08:54:35 pm | Posted By CASANSAAR

  The GST Act provides for allotting a Unique Identification Number (UIN) to Consulates, Embassies and other UN Organizations to enable such entities to claim refund of GST paid. One of the conditions for claiming this refund is to file Invoice Level Data in their FORM GSTR-11 on the common ...

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Category : GST | Comments : 0 | Hits : 154

No let-up in sanction of GST Refunds - CBIC
Posted Date : 09-Nov-2018 , 09:24:13 am | Posted By CASANSAAR

There are concerns being raised about growing pendency of GST Refunds. Exporters arereassured that there is no le-tup in the sanction of GST refunds. The disposal rate is consistently improving month-on-month. As on 31st October, 2018, total GST refunds to the tune of Rs 82,775 crore have been dispo...

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Category : GST | Comments : 0 | Hits : 182

GST collections cross Rs 1 lakh crore mark in October
Posted Date : 01-Nov-2018 , 10:28:29 pm | Posted By CASANSAAR

GST collections have crossed Rs 1 lakh crore mark in October this year.  In September, the revenue from goods and services tax was 94,000 crore rupees.  In a tweet, Finance Minister Arun Jaitley said, the success of GST is lower rates, lesser evasion, higher compliance, only one tax ...

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Category : GST | Comments : 0 | Hits : 239

Centre, states apportion Rs 32,000 crore IGST in October
Posted Date : 31-Oct-2018 , 08:48:51 am | Posted By CASANSAAR

As much as Rs 32,000 crore lying in the integrated goods and services tax (IGST) pool has been apportioned between the centre and states in the month of October. The states' share would be over Rs 15,000 crore, the official said.  The apportionment would add to the goods and services ...

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Category : GST | Comments : 0 | Hits : 212

GST council met 30 times, took 918 decisions in 2 years - FinMin
Posted Date : 30-Oct-2018 , 09:46:32 am | Posted By CASANSAAR

The GST council, chaired by finance minister Arun Jaitley, has met 30 times and taken 918 decisions related to laws, rules and rates for the new tax regime in just over two years. The goods and services tax (GST) council, which comprises state finance ministers and Union minister of state in char...

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Category : GST | Comments : 0 | Hits : 235

Vehicle owners to pay 18% under GST on pollution check
Posted Date : 24-Oct-2018 , 07:30:59 am | Posted By CASANSAAR

Vehicle owners will have to pay a GST of 18 per cent to get pollution certificate for their vehicles, the Authority for Advance Ruling (AAR) has said.  The Goa bench of the AAR passed the ruling on an application filed by Venkatesh Automobiles on whether the service provided for issuing '...

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Category : GST | Comments : 0 | Hits : 389

Due date of GSTR-3B for Sept 2018 extended to 25th Oct 2018
Posted Date : 22-Oct-2018 , 08:52:56 am | Posted By CASANSAAR

  It has been brought to notice that there have been apprehensions by trade and industry relating to the last date for availment of ITC for the period July, 2017 to March, 2018. In order to remove doubts, it was clarified that as per the law, the last date for availing ITC in relation to the...

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Category : GST | Comments : 0 | Hits : 468

Last date to avail Input Tax Credit in respect of invoices pertaining to period from July, 2017 to March, 2018
Posted Date : 18-Oct-2018 , 11:27:12 pm | Posted By CASANSAAR

  There appears to be misgiving about the last date for taking Input Tax Credit (ITC) in relation to invoices or debit notes relating to such invoices pertaining to period from July, 2017 to March, 2018. Such uncertainty seems to stem from the Government’s decision to extend the l...

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Category : GST | Comments : 0 | Hits : 834

Clarification on the manner of filing the Quarterly Return by Composition Dealers in FORM GSTR-4
Posted Date : 17-Oct-2018 , 12:38:53 pm | Posted By CASANSAAR

It has been brought to notice that doubts regarding the manner of filing the quarterly return by Composition Dealers in FORM GSTR-4 in the absence of auto-population of the details of inward supplies (other than supplies attracting reverse charge) received from registered suppliers exist a...

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Category : GST | Comments : 0 | Hits : 873

Free/Complementary IPL tickets to attract GST - AAR
Posted Date : 15-Oct-2018 , 04:01:40 am | Posted By CASANSAAR

Free or complementary tickets given by franchise owners for IPL matches will attract Goods and Services Tax (GST), the Authority for Advance Ruling (AAR) said. In response to an application filed by K P H Dream Cricket Pvt Ltd, which owns and operates IPL cricket team Kings XI Punjab, the Punjab ...

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Category : GST | Comments : 0 | Hits : 438

Delhi Govt launches drive against GST defaulters
Posted Date : 15-Oct-2018 , 09:13:14 am | Posted By CASANSAAR

Witnessing a large number of defaulters under the Goods and Services (GST) act, the Delhi Department of trade and taxes on Friday issued show cause notices to a total of 51,500 tax defaulters. Also, to keep an eye on the suspicious and un-lawful trading activities of the dealers such as bogus bil...

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Category : GST | Comments : 0 | Hits : 714

Finance ministry rubbishes charge of stuck GST claims worth Rs 23,000 crore
Posted Date : 14-Oct-2018 , 03:04:51 am | Posted By CASANSAAR

The finance ministry on Friday dismissed as “exaggerated” and “inaccurate” exporters’ contention that about Rs 23,000 crore of goods and services tax-related refund claims are stuck with the government. “A large number of exporters have been granted refunds so ...

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Category : GST | Comments : 0 | Hits : 325

Last date of registration for GST Practitioners Exam extended up to 15th Oct 2018
Posted Date : 11-Oct-2018 , 07:47:02 am | Posted By CASANSAAR

  The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) is conducting an examination for confirmation of enrollment of Goods and Services Tax Practitioners (GSTPs) enrolled on the GST Network under sub-rule (2) of Rule 83 and covered by clause (b) of sub-rule (1) of...

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Category : GST | Comments : 0 | Hits : 1267

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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Category : GST | Comments : 0 | Hits : 1120

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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Category : GST | Comments : 0 | Hits : 777

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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Category : GST | Comments : 0 | Hits : 800

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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Category : GST | Comments : 0 | Hits : 542

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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Category : GST | Comments : 0 | Hits : 550

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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Category : GST | Comments : 0 | Hits : 674

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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Category : GST | Comments : 0 | Hits : 1223

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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Category : GST | Comments : 0 | Hits : 432

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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Category : GST | Comments : 0 | Hits : 297

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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Category : GST | Comments : 0 | Hits : 411

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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Category : GST | Comments : 0 | Hits : 1787

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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Category : GST | Comments : 0 | Hits : 1542

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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Category : GST | Comments : 0 | Hits : 1571

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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Category : GST | Comments : 0 | Hits : 2154

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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Category : GST | Comments : 0 | Hits : 1498

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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Category : GST | Comments : 0 | Hits : 2418

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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Category : GST | Comments : 0 | Hits : 510

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