Goods and services tax (GST) collection crossed the Rs 1 lakh crore-mark for the third month in a row in January on the back of
Category: GST
Budget 2020: Fraudulently availing GST input credit void of invoice non-bailable, cognizable offence | Business News,The Indian Express
In a move which would further tighten the noose on those committing frauds under the Goods and Services Tax (GST) regime, the Union Budget for 2020-21 has
Penalties for false entries and fake invoicing: IT Act to be amended – The Economic Times
NEW DELHI: The Union Budget has proposed to levy penalties on taxpayers who manipulate their accounts via false entries and fake invoicing to claim input
GST: CBIC extends GSTR-9 and GSTR-9C filing dates in a staggered manner – The Economic Times
On a day when the Economic Survey acknowledged the fact that both GST system is complex, taxpayers found it impossible to file their returns. The
Budget 2020: The focus is on simplifying GST and preventing evasion | Business Standard News
Budget 2020 was crucial in view of the juxtaposition of two contrasting situations in the current economic scenario, namely the government’s endeavour to make India
Govt raises turnover threshold for audit of MSME accounts to Rs 5 cr – The Hindu BusinessLine
The government on Saturday unveiled measures aimed at facilitating growth of the country’s micro, small and medium enterprises including raising the turnover threshold for audit
Budget: Vivad se Vishwas will help close pending litigation – The Hindu BusinessLine
The Finance Minister announced a legacy dispute resolution scheme for direct taxes, as widely expected. The Vivad se Vishwas Scheme, follows the Sabka Vishwas Scheme
Taxmen flag two cases of fraud in Delhi amid crackdown on fake invoicing – The Economic Times
NEW DELHI: In the ongoing crackdown on fake invoicing and availing input tax credit fraudulently on a national level, the Delhi North Commissionerate detected two
Government blocks Rs 40,000 crore GST claims on returns mismatch – The Economic Times
NEW DELHI: The Central Board of Indirect Taxes and Customs (CBIC) has frozen tax credits of around Rs 40,000 crore as the returns did not
Just one out of 4 assessees has submitted GST audit conciliation report so far for FY18 – The Hindu BusinessLine
Last date for filing FY annual return is January 31 Three out of four Goods & Services Tax (GST) assessees have yet to submit audit
Your company’s GST refund might be blocked; operations may be investigated – The Financial Express
More than 2,000 companies are under the Income Tax Department scanner for reporting inaccurate GST returns. Prime Minister Narendra Modi’s Sabka Vikas Yojana is received
GST arrest provisions: Need for an urgent review | Business Standard Column
In case of cognizable offences (magistrate’s warrant not required) under central excise and service tax laws, competent officers were empowered to cause arrest, while in
GST–How e-invoicing under GST will help businesses in the long run – The Economic Times
By Mallikarjuna Gupta Issue of e-invoices by the taxpayers registered under GST having a turnover above Rs 500 crores has been notified on 13th Dec 2019. It is optional
GST: Five structural changes to make GST simple, stable – The Economic Times
By Pratik Jain Goods and services tax (GST), slated to be a good and simple tax, is now a toddler of 30 months. There is a consensus
Success for PM Modi’s Demonetisation and GST move? Here’s what data analytics suggests – The Financial Express
It was always disappointing that, after coming out with an initial list of 17.9 lakh persons whose post-demonetisation cash deposits in banks were not in
Finance Ministry allows 3 last dates for filing GSTR-3B for different categories of taxpayers | Deccan Herald
The finance ministry on Wednesday staggered last dates of filling GSTR-3B, a monthly return form, and has provided three dates for different categories of taxpayers,
66 lakh GST returns filed till January 20, says CBIC–Business Today
Thus, the total GSTR-3B returns filed in the month of January totalled 67.70 lakh The Central Board of Indirect Taxes & Customs (CBIC) said on Tuesday that a total of 65.65
Non-compliance in GST payments maybe burning a Rs 5 tn hole in revenues – business news – Hindustan Times
The government may be losing Rs 5 trillion in indirect tax revenue a year, amounting to 40% of its goods and services tax (GST) collection target,
Courier companies seek relief on GST E-way bill rule – The Economic Times
NEW DELHI: Courier companies such as FedEx, DHL and UPS are in a bind over delivering imported goods to customers because of a goods and services
Govt revises target for GST collections again – The Economic Times
NEW DELHI: To augment collections amid growing concerns over missing the budgeted estimates, the government has reset the target for goods and service tax (GST)
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