GST

Mar 25, 2019, 03.33 AM IST

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GST

MULTIMEDIA

Govt detects Rs 20,000 cr GST evasion in April-Feb FY'19

Govt detects Rs 20,000 cr GST evasion in April-Feb FY'19

The govt will take more steps to check frauds and increase compliance, a senior tax officer said Wednesday.

India’s transformational GST has some hits, few misses

India’s transformational GST has some hits, few misses

It's now slightly more than one and half years that GST has been implemented, and hence a good time to take stock of its 'hits and misses'.

GST 2.0: Preparing for integration of e-way bills with GST returns

GST 2.0: Preparing for integration of e-way bills with GST returns

The crucial aim of building the GST system is to allow a free and transparent flow of credit for taxpayers. The new system looks up to accomplish this.

GST Council cuts rates sharply to make room for housing growth

GST Council cuts rates sharply to make room for housing growth

Starting April 1, homes under construction will be levied 5% GST, against 12%. For affordable homes, GST will drop to 1% from 8%.

Guest house for employees a perk, cannot claim GST input credit rules Odisha AAAR

Guest house for employees a perk, cannot claim GST input credit rules Odisha AAAR

There is a thin line between perquisite and business expenditure and the ruling does not do anything to reduce confusion.

Importers, Tax dept approach Supreme Court over GST “self-assessment"

Importers, Tax dept approach Supreme Court over GST “self-assessment"

The companies while importing the products had paid 12% Goods and Services Tax when they were required to pay only 6%.

GST Council defers decision on tax on real estate; extends deadline for sales returns

GST Council defers decision on tax on real estate; extends deadline for sales returns

The due date for filing summary sales return - GSTR-3B - is February 20.

Anti profiteering in GST– Is litigation an option?

Anti profiteering in GST– Is litigation an option?

The premise of anti-profiteering is that if the government has given up its revenue, this benefit has to be passed on and enjoyed by the consumer.

Companies stare at cash flow problems due to new credit utilisation rules

Companies stare at cash flow problems due to new credit utilisation rules

​​The government late last year had come out with credit utilisation mechanism that companies have to follow beginning this month.

Breaking shackles: How GST ended the era of captive warehousing

Breaking shackles: How GST ended the era of captive warehousing

The Indian warehouse industry is booming with supply, which was a limited commodity earlier, increasing with every year that passes.

What’s next in GST: Consistent laws, crackdown on evaders

What’s next in GST: Consistent laws, crackdown on evaders

Under the new system, input tax credit available to businesses would only be limited to the extent it is reflected on the GST portal.

Budget 2019: ACMA pitches for uniform 18% GST for all auto components

Budget 2019: ACMA pitches for uniform 18% GST for all auto components

The apex body of the Indian auto component industry has pitched for increasing the rate of weighted deduction on R&D spend and called for a reduction of import duty on aluminium and steel.

GST audit: The last milestone in the journey of filing returns for FY 2017-18

GST audit: The last milestone in the journey of filing returns for FY 2017-18

Filing of GST returns has gone through its own share of challenges and the Annual return and GST Audit is the last milestone, in completion of the journey of GST returns for FY 17-18

Soon, no e-way bill if GST returns not filed for 6 months

Soon, no e-way bill if GST returns not filed for 6 months

The new system will bar businesses who have not filed returns for two straight cycles, from generating bills.

Govt plans insurance scheme for GST-registered small traders

Govt plans insurance scheme for GST-registered small traders

According to sources, the scheme may provide accidental insurance cover on the lines of Pradhan Mantri Suraksha Bima Yojana (PMSBY) for the traders at an affordable premium.

GST: Relief for SMEs welcome, but may shrink the tax base, break value chain

GST: Relief for SMEs welcome, but may shrink the tax base, break value chain

These decisions would lead to a focus on compliance by larger traders and manufacturers, who would have the ability to undertake the compliances mandated by GST.

Boost for SMEs: Exemption limit for GST hiked to Rs 40 lakh from Rs 20 lakh

Boost for SMEs: Exemption limit for GST hiked to Rs 40 lakh from Rs 20 lakh

The finance minister also said that the annual turnover for availing composition scheme has been increased to Rs 1.5 crore from Rs 1 crore, effective from April 1, 2019.

GST exemption limit doubled to give relief to small businesses

GST exemption limit doubled to give relief to small businesses

The 32nd Goods and Services Tax (GST) Council meeting concluded today with a list of decisions made that would impact medium and small-scale industries and the ailing real estate sector.

GST ministerial panel favours Kerala levying 1% cess for 2 years

GST ministerial panel favours Kerala levying 1% cess for 2 years

The Group of Ministers under Modi has also suggested to the GST Council to allow additional borrowing over the permitted limit by states hit by natural calamity.

Traders pitch for simpler GST

Traders pitch for simpler GST

Half of the seven crore small businesses in the country can be brought under the indirect tax regime if its procedures were made simple, the Confederation of All India Traders (CAIT) stated.

Government extends deadline for GST returns filing for taxpayers affected by cyclones

Government extends deadline for GST returns filing for taxpayers affected by cyclones

For taxpayers whose principal place of business is in the district of Srikakulam in Andhra Pradesh, the due date for filing GSTR-3B for the months of September and October has been extended till November 30, 2018.

Finance Ministry extends deadline for filing September GST returns to October 25

Finance Ministry extends deadline for filing September GST returns to October 25

Since the ITC is availed on the basis of summary sales return or GSTR-3B filed, hence the deadline for ITC claims and GSTR-3B have been kept same.

Dealers in Bengaluru reverse Rs 17 cr claims made on fake GST invoices

Dealers in Bengaluru reverse Rs 17 cr claims made on fake GST invoices

The sustained drive by the Commercial Taxes department against fake ITC claims and a spate of recent arrests have created fear in errant businessmen.

Group of ministers says GST Council to seek states' views on 'disaster tax'

Group of ministers says GST Council to seek states' views on 'disaster tax'

"The GoM has decided that the GST Council will prepare a questionnaire and send to states for response..Out of the terms of reference of the GoM.

Staffing sector seeks input tax credit on insurance cost

Staffing sector seeks input tax credit on insurance cost

The industry says the benefit will encourage it to offer better social security package to workers while also reducing their cost of doing business.

Finance ministry rubbishes charge of stuck GST claims worth Rs 23,000 crore

Finance ministry rubbishes charge of stuck GST claims worth Rs 23,000 crore

FIEO had claimed that input tax credit (ITC) refund worth Rs 15,000 crore and at least Rs 8,000 crore of integrated GST refunds are stuck with the government.

Pyramid Infra goes to court over GST anti-profiteering mechanism

Pyramid Infra goes to court over GST anti-profiteering mechanism

For services companies such as telecom consultancies and banks, the problem could be more complex because of the wider scope for input tax credits.

GST policy on e-commerce may make life difficult for cab startups: Experts

GST policy on e-commerce may make life difficult for cab startups: Experts

Sections of GST experts believe the GST policy requiring aggregators to pay GST on fares collected by cab drivers will hurt startups

Liaison Offices: Debate & uncertainty on taxability of liaising services under GST continues

Liaison Offices: Debate & uncertainty on taxability of liaising services under GST continues

The article focuses on the debate pertaining to taxability of liaising services provided by liaison offices to its parent company under GST regime.

High Court stays action against some exporters for wrongly availing GST benefits

High Court stays action against some exporters for wrongly availing GST benefits

GST law amendment had brought in pre-import condition that denies IGST benefits to imports which had happened after exports.

Last date for businesses to file IT returns is Oct 15: Know what all documents you need to have in place

Last date for businesses to file IT returns is Oct 15: Know what all documents you need to have in place

The GSTIN and turnover/gross receipt as per GST must be reported while filing ITR-4.

Travel portals seek clarity on TCS provision under GST

Travel portals seek clarity on TCS provision under GST

A circular issued in September has created some confusion prompting the industry to seek a clarification from the government.

GST collections likely to top Rs 1 lakh crore in November, December

GST collections likely to top Rs 1 lakh crore in November, December

GST revenue rose to Rs 94,442 crore in September and officials feel it could surpass the landmark one lakh crore on increased demand during festival season.

Companies may have to show ledgers for claiming GST credit of over Rs 25 lakh

Companies may have to show ledgers for claiming GST credit of over Rs 25 lakh

This comes after a detailed analysis of the top 50,000 taxpayers showed a sharp rise in the closing balance of credit of many at the end of June last year compared with September 30, 2016

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