Clipped from: https://www.business-standard.com/article/economy-policy/e-invoicing-under-gst-pick-up-speed-posts-17-growth-in-november-120120700021_1.html Daily invoice generation has now improved to 2.5-2.7 million per day compared to an average of 1.5 million a day in October. E-invoicing
Category: GST
GST compensation: All states take Rs 1.1 lakh crore option, Jharkhand last state to join – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/all-states-take-rs-1-1-lakh-crore-option-jharkhand-last-state-to-join/articleshow/79577958.cmsSynopsis With Jharkhand, the last state to take the option, the issue that had become a home of contention between Centre and states now
GST fraud: Govt goes into overdrive, over 100 arrests in 3 weeks, one denied bail – The Financial Express
Clipped from: https://www.financialexpress.com/india-news/gst-fraud-govt-goes-into-overdrive-over-100-arrests-in-3-weeks-one-denied-bail/2143666/ Apart from the number of instances, the enormity of the fraud can also be gauged from the fact that, one person with political
Supreme Court upholds levy of GST on lottery, gambling – The Financial Express
Clipped from: https://www.financialexpress.com/economy/supreme-court-upholds-levy-of-gst-on-lottery-gambling/2142816/ “The inclusion of actionable claim in definition “goods” as given in Section 2(52) of CGST Act, 2017 is not contrary to the legal
Choppy tidings: The Hindu Editorial on higher GST inflows – The Hindu
Clipped from: https://www.thehindu.com/opinion/editorial/choppy-tidings-the-hindu-editorial-on-higher-gst-inflows/article33234453.ece?homepage=true The govt. must do more for sectors that are employment-intensive before the next Budget Revenues from the GST crossed the ₹1-lakh crore mark for
GST Swallow Does Not Make a Summer–The Economic times
Clipped from: https://economictimes.indiatimes.com/blogs/et-editorials/gst-swallow-does-not-make-a-summer/ That goods and services tax (GST) collections have surged in November, to nearly Rs 1.05 lakh crore, seem more likely due to improved
gst: Pen makers face GST problem amid fall in demand due to COVID- 19 pandemic – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/cons-products/durables/pen-makers-face-gst-problem-amid-fall-in-demand-due-to-covid-19-pandemic/articleshow/79526495.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis “The industry witnessed nearly 50 per cent fall in demand as the educational institutions remain closed and have opted for the work-from-home concept,”
GST fake invoice menace: CBIC issues SOPs for tax officers – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/gst-fake-invoice-menace-cbic-issues-sops-for-tax-officers/article33206614.ece This is part of its strategy to counter GST fake invoice frauds via search and survey, leading to arrests and booking of cases
Plugging GST leaks – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/tighter-gst-registration-norms-are-fine-but-data-coordination-between-agencies-is-crucial-too/article33206286.ece Tighter GST registration norms are fine, but data coordination between agencies is crucial, too With tax frauds pertaining to GST “to the tune
Top 25,000 GST payers of October yet to file returns in November, tax officers to send reminders – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/indicators/top-25000-gst-payers-of-october-yet-to-file-returns-in-november-tax-officers-to-send-reminders/articleshow/79467777.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis “Tax officers have been directed to follow up personally with these defaulting taxpayers so that their GSTR-3B returns due for the month get
gst: Gujarat High Court to relook at GST on intermediaries – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/gujarat-high-court-to-relook-at-gst-on-intermediaries/articleshow/78765013.cmsSynopsis The Gujarat High Court in July had held that supply of services by intermediaries outside India is not an export and that 18%
Due date for filing GST annual return for FY19 extended till December 31 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/due-date-for-filing-gst-annual-return-for-fy19-extended-till-december-31/article32936212.ece?homepage=true Goods & Services Tax (GST) assesses will have some relief as the Finance Ministry on Saturday had again extended the date for filing
GST: Trading of fake invoices unearthed, reveals Rs 52.19-cr fraud in input tax credit – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/gst-trading-of-fake-invoices-unearthed-reveals-rs-5219-cr-fraud-in-input-tax-credit/article32940608.ece?homepage=true The Pune zonal unit of the Directorate-General of GST Intelligence (DGGI) has unearthed trading of fake invoices and arrested one person in this
How a CA aspirant pulled off Rs 50 crore GST input tax credit fraud–business today
Clipped from: https://www.businesstoday.in/latest/trends/how-a-ca-aspirant-pulled-off-rs-50-crore-gst-input-tax-credit-fraud/story/419795.html The kingpin of this racket is said to be Prince Manish Kumar Khatri, a third-year student and a partner in a Chartered Accountancy
GST officials bust racket for availing Rs 50 cr illegal ITC; 1 arrested – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/gst-officials-bust-racket-for-availing-rs-50-cr-illegal-itc-1-arrested/articleshow/78828820.cmsSynopsis Prince Manish Kumar Khatri, a third-year student and a partner of a CA firm in Ahmedabad, allegedly registered fake firms that were used
Liaisoning services by branch of foreign firm to attract GST: Karnataka AAR | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/liaisoning-services-by-branch-of-foreign-firm-to-attract-gst-karnataka-aar-120102101235_1.html The order came in a case related to business and promotion activities by the Bangalore-based branch office of a company, the head office
FM does the right thing, states need to do the same – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/fm-does-the-right-thing-states-need-to-do-the-same/2109495/ If states don’t revisit the 14% revenue-growth guarantee, the compensation issue will be repeated again next year In all the feuding between the
GST–Bridge the gap | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/bridge-the-gap-120101800943_1.html Centre’s decision to borrow doesn’t fully address the GST issue The Union government’s decision to borrow and on-lend to the states to cover
An incomplete solution: The Hindu Editorial on Centre borrowing for States to meet GST shortfall – The Hindu
Clipped from: https://www.thehindu.com/opinion/editorial/an-incomplete-solution-the-hindu-editorial-on-centre-borrowing-for-states-to-meet-gst-shortfall/article32887686.ece The Centre must assure States on the timeline for payment of the GST compensation due The past week witnessed some forward, albeit inexplicably
Baby steps in GST – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/sweeter-gst-offer-to-states-and-relaxed-filing-norms-for-small-units-are-welcome-steps/article32784927.ece Sweeter GST offer to States and relaxed filing norms for small units are welcome steps The GST Council’s Monday meeting was able to
