The Centre has reportedly informed the states that they could face shortfalls in goods and services tax (GST) compensation, due to lower tax revenues. This
Category: GST
GST structure to be reviewed on revenue concerns – The Economic Times
The Goods and Services Tax (GST) Council is set to embark on a comprehensive review of the tax structure in the wake of growing revenue
GST News | GST: Here’s what to do if your e-Way bill generation is blocked for tax defaults–Economic Times
Not generating an e-way bill will be considered as non-compliance as per the provisions of the GST law. Highlights As per GSTN data, around 20.75
Letter sent to states: GST Council rings first alarm bells on revenue | Business News, The Indian Express
Some state finance ministers are scheduled to meet Union Finance Minister Nirmala Sitharaman on Wednesday to discuss the GST compensation dispute. In its first admission
A GST Revamp to Make it More Effective–Economic Times
Almost two and a half years after its rollout, the goods and services tax (GST) regime remains very much a work-in-progress, notwithstanding the uptick in
Govt blocks GST e-way bill generation; move may impact 300,000 firms | Business Standard News
Businesses of roughly 300,000 firms paying goods and services tax (GST) were likely impacted on Monday, as the government had blocked e-way bill generation for
GST collection crosses Rs 1 lakh crore target in November after 3 months; second highest in FY20 so far – The Financial Express
The jump in the collection came amid the government taking a slew of measures in the last few months to boost growth. After missing the
Government sets timeline for GST e-invoicing, trial to start January 1, 2020 – The Economic Times
The generation of e-invoice will be the responsibility of the taxpayer who will be required to report the same to IRP of GST. The Government
GST e-invoicing to help MSMEs secure loans faster – The Financial Express
The IRP will also send the signed e-invoice to the recipient of the document on the email provided in the e-invoice. The proposed e-invoicing system
GST e-invoicing must for businesses with Rs 100-cr turnover from April 1 | Business Standard News
From April 1 next year, electronic invoicing (e-invoicing) will be mandatory for businesses with a turnover of Rs 100 crore, the government said on Thursday.
Tax sleuths wake up to fake invoice GST racket–Deccan Chronicle
Tax sleuths across the country are girding up their loins to put checks and balances on growing cases of fake invoices in GST—fake B2B invoices
BPO firms left in the lurch over input tax refund – The Economic Times
India’s business process outsourcing industry is in a quandary as refunds of taxes paid on inputs remain stalled for want of a clear directive from
Law firms are laughing all the way to the bank amid swelling IBC, GST cases–Economic Times
There seems no slowdown in the business of law as the country’s legal sector has increased its fee income by more than 62% in two years at
GST authorities unearth racket involving Rs 140 cr tax fraud – The Economic Times
Fake firms have passed on fraudulent ITC to a range of buyers who have availed the same to discharge their GST liability on outward supplies,
GST: Purchase without bill may be big GST leakage source–Economic Times
Tax authorities have identified B2C sales as a key source of leakage of goods and services tax (GST) as consumers are often cajoled into paying in cash without
Centre Planning To Come Up With Lottery Scheme For GST Paying Customers – BW Businessworld
The Ministry of Finance is planning to come up with a lottery scheme to lure customers to pay Goods and Services Tax (GST). This will
GST system redesign neither desirable nor feasible, say tax experts | Business Standard Column
N K Singh, chairman, the Fifteenth Finance Commission, recently set the cat among pigeons when he called for taking the goods and services tax (GST) system back
GST: Is the GST Composition scheme beneficial? Cost-impact analysis shows the risks–Economic Times
By AK Bhasin and Rohan Pahwa One of the Central Board of Excise & Customs (CBEC’s) flyers on composition levy scheme in GST says: “Composition levy scheme
NK Singh calls for further simplification of the GST structure – The Economic Times
A further simplification of the Goods and Services Tax structure could help increase revenue and foster better tax compliance, according to N K Singh, chairman of
GST filings rise 8.2% to 64.8 lakh in November – The Economic Times
The Central Board of Indirect Taxes & Customs (CBIC) on Thursday said the filing of GSTR-3B returns shot up by 50% on Wednesday, the deadline for filing returns,
