Officials from the Preventive Wing of Central Goods and Services Tax (CGST) Ahmedabad-South Commissionerate have busted a fake GST invoice and fraudulently availing input tax credit (ITC) racket here. CGST Ahmedabad-South Commissionerate officials also arrested a
Category: GST
CGST shortfall may force govt to cut spending to meet fiscal deficit target | Business Standard News
Despite crossing the Rs 1-trillion mark twice this year, the goods and services tax (GST) collections are running well behind the budgeted target. As opposed to a
GST: About 16% of assessees do not file monthly returns, shows Govt data – The Hindu BusinessLine
But Centre says measures taken to step up compliance, boost collections On an average nearly 16 per cent of Goods and Services Tax (GST) return
Good news for businesses! Deadline for claiming GST input tax credit extended; all you need to know – The Financial Express
t’s good news for businesses as the Finance Ministry has extended the deadline for claiming input tax credit (ITC) for the financial year 2017-18, the
GST shortfall – The Hindu
As the tax collections remain below target, it may be time to recalibrate expectations Revenue collections from the Goods and Services Tax (GST) are going
Rationalise GST on building material–Economic Times
The proposal to bring construction material in the 5% GST slab is commendable. There is a huge infrastructural deficit nationwide, and filling the gap calls
Slow upward movement in average GST collection puts govt in wait mode – The Economic Times
gst.jpg.webp9.3 KB GST collection dropped to Rs 94,726 crore in December raising worries over government revenues taking a hit and further delaying rationalising of GST slabs.
GST–Traders pitch for simpler GST – The Economic Times
Traders across the country have urged the Centre to simplify the procedures of the Goods and Services Tax (GST) this year to bring small businesses under the indirect tax regime.
Government notifies new annual GST return forms – The Financial Express
Trade and industry bodies had raised several objections on the GST annual return filing forms, which were earlier notified in September last year. The government
Government waives late fee for non-filers of GST returns between July ’17-Sept ’18 – The Financial Express
The government has waived late fees for non-filers of summary and final sales returns for the July 2017-September 2018 period by businesses registered under the
Exporters look forward to online refund of input tax credit – The Hindu BusinessLine
Exporters can hope for speedier refund of input tax credit (ITC) from the next fiscal with the GST Council recommending online refund of the tax.
GST: Punjab for fewer GST exclusions, higher exemption threshold–Economic Times
Punjab has sought a comprehensive review of all exemptions under the goods and services tax (GST) while revising the threshold for such exclusions, signalling a possible
Some year-end cheer from GST Council | Business Standard Column
A Christmas gift from the Goods and Services Tax (GST) Council was a reduction in the rates on a number of items and simplifying of
Fixing input tax credit: Get ready for new GST return filing system in 2019 | Business Standard Column
One of the fundamental principles of goods and services tax (GST) was the concept of ‘self-policing’, wherein the matching concept for claiming input tax credit was introduced. The matching
₹75-lakh threshold could help over 60 lakh MSMEs escape GST net – The Hindu BusinessLine
May cost exchequer 5,500 cr, but will boost small units by cutting compliance cost Over 60 lakh assessees may come out from the Goods and
‘Not easy to lower GST rates once prices are set’ – The Hindu BusinessLine
Former FM P Chidambaram says Congress State FMs unlikely to oppose changes in the GST regime for the sake of the Opposition Convergence of the
Five major challenges that shook India’s economy in 2018–The Print
From GST to RBI to NPAs, both institutions and governance had a turbulent ride. The year 2018 saw significant challenges for the Indian economy. Implementation
AAAR okays GST on inter-state office services – The Economic Times
In a blow for companies with a presence in multiple states, the Karnataka Appellate Authority for Advance Rulings has upheld the levy of goods and services tax
The myth of an ideal single-rate GST – The Financial Express
By Mukesh Butani & Tarun Jain The run-up to the enactment of the GST design revealed that the rate-structure dominated the Parliamentary debate on Constitution
GST evasion worth Rs 38,896 cr detected during April-Oct – The Economic Times
The government has detected GST evasion worth Rs 38,896 crore in 6,585 cases in the April-October period of 2018-19, Parliament was informed Friday. Minister of State for Finance Shiv Pratap
