Recommendations of 45th GST Council Meeting
Posted Date : 18-Sep-2021 , 08:01:43 am | Posted By CASANSAAR
Life-saving drugs Zolgensma and Viltepso used in treatment of Spinal-Muscular Atrophy exempted from GST when imported for personal use
Extension of existing concessional GST rates on certain COVID-19 treatment drugs upto 31st December 2021
GST rates on 7 other medicines recommended by De...
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HC stays order related to levy of GST on flat, villa maintenance charges
Posted Date : 11-Sep-2021 , 09:55:56 am | Posted By CASANSAAR
Flat or villa owners paying more than ₹7,500 a month to their resident welfare associations towards maintenance charges will now have to pay Goods and Services Tax (GST) at the rate of 18% for the entire contribution since a Division Bench of the Madras High Court on Thursday stayed a single j...
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GST collection crosses Rs 1.12 lakh Cr. in August 2021
Posted Date : 02-Sep-2021 , 10:30:17 am | Posted By CASANSAAR
Goods and Service Tax collection for the month of August 2021 came in at Rs 1.12 lakh crore, compared with Rs 1.16 lakh crore in July, data released by the Finance Ministry show on September 1.
This is the second consecutive month that GST collections are above the Rs 1 lakh crore mark, indicatin...
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Extension of closing date of late fee amnesty scheme and time limit for filing of application for revocation of cancellation of registration
Posted Date : 30-Aug-2021 , 08:21:32 am | Posted By CASANSAAR
The Government, vide Notification No. 19/2021- Central Tax, dated 01.06.2021, had provided relief to the taxpayers by reducing / waiving late fee for non-furnishing FORM GSTR-3B for the tax periods from July, 2017 to April, 2021, if the returns for these tax periods are furnished between 0...
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GST defaulters of last two months to be barred from filing GSTR-1
Posted Date : 28-Aug-2021 , 07:45:27 am | Posted By CASANSAAR
GSTN stated in the advisory that “a registered person shall not be allowed to furnish the details of outward supplies of goods or services or both under section 37 in Form GSTR-1, if he has not furnished the return in Form GSTR-3B for preceding two months."
Businesses have to file GSTR...
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Papads don’t attract GST, but fryums face 18% rate
Posted Date : 25-Aug-2021 , 08:16:45 am | Posted By CASANSAAR
No Gujarati thali is complete without a papad, be it fried or roasted. Fortunately for consumers, as the GST burden is ultimately borne by them, the Gujarat bench of the Authority for Advance Ruling (AAR) has held that Papads will attract nil GST.
Interestingly, the AAR bench observed that Papa...
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No GST on canteen charges recovered from employees - AAR
Posted Date : 23-Aug-2021 , 08:31:49 am | Posted By CASANSAAR
GST will not be levied on the amount paid by employees for availing canteen facilities provided by their employers, the AAR has ruled.
Tata Motors had approached the Gujarat bench of Authority for Advance Ruling (AAR) seeking a ruling on whether Goods and Services Tax (GST) is applic...
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Treated and purified sewage water for industrial use to attract 18 pc GST - AAR
Posted Date : 02-Aug-2021 , 08:37:42 am | Posted By CASANSAAR
Treated and purified sewage water is classified as 'water' under the GST Act and its supply for industrial use would attract an 18 per cent tax, the Authority for Advance Ruling (AAR) has said.
Nagpur Waste Water Management Pvt Ltd had approached the Maharashtra bench of AAR seeking a rul...
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Gross GST collection in July crosses 1 lakh 16 thousand Cr rupees
Posted Date : 02-Aug-2021 , 08:33:01 am | Posted By CASANSAAR
The gross GST revenue collected in July crossed 1,16,000 crore rupees indicating that the economy is recovering at a fastpace and the robust GST revenues are likely to continue in the coming months too, the Finance Ministry Said. The revenues for the month of July 2021 are 33 per cent higher t...
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Gujarat govt transfers 36 officials for ‘fair probe’ into Rs 1,000 cr fake GST bill case
Posted Date : 31-Jul-2021 , 08:43:13 am | Posted By CASANSAAR
In connection with a case involving more than Rs 1,000 crore of fake GST (Goods and Services Tax) bills in Bhavnagar, the Gujarat government on Friday transferred 36 officials from Bhavnagar ranging from the deputy state tax commissioner to employees as junior as a clerk. The move is to ensure fair ...
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Delhi-based businessman arrested for passing on fake input tax credit of Rs.128 Cr
Posted Date : 26-Jul-2021 , 08:45:52 am | Posted By CASANSAAR
GST Intelligence officials have arrested a Delhi-based businessman here for allegedly fraudulently passing on input tax credit (ITC) worth ₹128 crore, a senior official said on Sunday.
Investigations conducted by the officials of the Chandigarh zonal unit of the Directorate General of GST (...
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GST only on monthly maintenance over Rs 7,500 - Madras HC
Posted Date : 15-Jul-2021 , 09:36:14 am | Posted By CASANSAAR
In a relief to resident welfare association (RWA) members across middle and high-end housing societies, the Madras High Court has ruled that the goods and services tax (GST) is applicable to monthly maintenance amount exceeding ₹7,500 only and not on the full amount.
The decision overturns ...
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GST officers unearth over Rs 35,000 Cr fraud in 2020-21, arrest 426 people
Posted Date : 14-Jul-2021 , 10:10:34 am | Posted By CASANSAAR
In the year-long crackdown on tax evasion, the GST authorities have unearthed over Rs 35,000 crore of tax fraud committed by misuse of input tax credit provision under the Goods and Services Tax (GST) regime. During the 2020-21 financial year, the CGST zones and the Directorate General of GST Intell...
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GST officers bust network of 23 firms involved in fake ITC claims of Rs 550 cr
Posted Date : 13-Jul-2021 , 09:32:04 am | Posted By CASANSAAR
GST officers have busted a network of 23 entities involved in creation of fake invoices worth Rs 551 crore and passing inadmissible input tax credit worth Rs 91 crore.
Based upon specific intelligence, the officers of the anti-evasion branch of Central Goods and Service Tax (CGST) Commissionerate...
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GST collection for June falls to Rs 92,849 Cr, lowest in 10 months
Posted Date : 07-Jul-2021 , 10:05:12 am | Posted By CASANSAAR
The economic impact the 'second wave' of Covid-19 showed on Goods and Service Tax (GST) as collections for June 2021 fell to Rs 92,849 crore, the Finance Ministry said on July 6. This is the first time in nine months that monthly GST collections have slipped below the Rs 1 lakh crore mark.
...
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Government to honour tax payers who have been part of GST's success story
Posted Date : 01-Jul-2021 , 09:33:35 am | Posted By CASANSAAR
The Goods and Services Tax (GST) system, country’s biggest tax reform, is going to complete four years today. During these years, several key policy initiatives were taken by the government to make the GST system and compliance mechanism simple, transparent and technology driven.
GST is a r...
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CBIC clarifies on QR codes for companies with turnover of over Rs 500 Cr
Posted Date : 23-Jun-2021 , 08:51:20 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) has issued a clarification on QR codes for businesses with a turnover of more than Rs 500 crore, The Economic Times has reported.
The CBIC has said that these companies supplying services to entity located overseas and receiving payments thro...
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Liaison office has to pay GST - AAR
Posted Date : 05-Jun-2021 , 09:24:42 am | Posted By CASANSAAR
The GST Authority for Advance Rulings (AAR - Maharashtra bench) has held a liaison office, in Mumbai, of the Dubai Chamber of Commerce and Industry (DCCI) to be an ‘intermediary’, which is providing services. The AAR concluded that the liaison office is liable to register under the Goods...
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Recommendations of 43rd GST Council meeting
Posted Date : 29-May-2021 , 09:00:43 am | Posted By CASANSAAR
The 43rd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman through video conferencing here today. The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Minist...
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Govt Integrates E-way Bill with FasTag, RFID; GST Officers to Have Real-time Data of CVs
Posted Date : 24-May-2021 , 11:23:06 am | Posted By CASANSAAR
GST officers have been armed with real-time data of commercial vehicle movement on highways with the integration of the e-way bill (EWB) system with FasTag and RFID, a move which will help in live vigilance of such vehicles and check GST evasion. Additional features have been added to the e-way bill...
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Govt relaxes GST refund claim norms
Posted Date : 21-May-2021 , 09:42:23 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) has eased the norms for claiming Goods and Services Tax (GST) refunds making it easier for businesses to rectify their applications.
The tax authority said in the CGST (Fourth Amendment) Rules issued on Tuesday that the period between filing ...
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Enhancement of facilities under the Customs(Import of Goods at Concessional Rate of Duty) Rules, 2017
Posted Date : 19-May-2021 , 08:30:33 am | Posted By CASANSAAR
The Finance Minister had in her Budget Speech this year announced that the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017 (IGCR, 2017) would be amended to boost trade facilitation. Accordingly, the Central Board of Customs and Indirect Taxes( CBIC) had immediately enhanced the sc...
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Finance Minister to chair 43rd GST Council meeting via video conferencing
Posted Date : 15-May-2021 , 06:18:13 pm | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman will chair the 43rd GST Council meeting via video conferencing at 11 A.M. in New Delhi on 28th of this month.
The meeting will be attended by Minister of State for Finance, Anurag Thakur besides Finance Ministers of States & UTs and senior officers from Uni...
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GST officers to be soon armed with real-time data on vehicles moving without e-way
Posted Date : 19-Apr-2021 , 09:11:31 am | Posted By CASANSAAR
The government is working on a system to soon provide report to GST officers on a real-time basis for those vehicles which are moving without e-way bills, to help intercept stuck trucks at toll plazas and check GST evasion.
The tax officers would also be provided analysis reports on identifying e...
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Constitutional validity of arrest rules under GST challenged in Supreme Court
Posted Date : 09-Apr-2021 , 08:15:41 am | Posted By CASANSAAR
Companies have argued against the constitutional validity of arrest provisions under the goods and services tax (GST) laws in their present form in the Supreme Court.
The court took up the matter of arrest provisions and applicability of the Criminal Procedure Code (CrPC) to the Customs Act, GST ...
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GST no longer citizen-friendly; calls provisional attachment Draconian - SC
Posted Date : 08-Apr-2021 , 09:59:29 am | Posted By CASANSAAR
The Supreme Court on Tuesday slammed the manner in which the Goods and Services Tax was being enforced by tax authorities and observed that the taxman cannot see all businesses as being fraudulent.
The Parliament had aimed to give the GST a citizen-friendly tax structure. But, the purpose of the ...
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GST to be levied on underlying goods / services in gift vouchers - AAR
Posted Date : 05-Apr-2021 , 08:41:23 am | Posted By CASANSAAR
Clearing the air over taxability of gift cards or vouchers, the Tamil Nadu bench of the AAAR has ruled that GST would be levied on the underlying goods/ services at the time of redemption such pre-paid instruments.
Kalyan Jewellers India Ltd has approached the Appellate Authority for Advance Ruli...
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Govt allows further operational flexibility in filing of GST returns
Posted Date : 05-Apr-2021 , 07:51:06 am | Posted By CASANSAAR
Govt has allowed further flexibility to tax filers operating under the Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme of GST. These tax filers will now be permitted to declare invoices pertaining to movement of goods and services in their quarterly return form GSTR 1 to be filed ...
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HSN Code/ Service Accounting Code mandatory on invoices as per revised requirement from 1st April 2021
Posted Date : 01-Apr-2021 , 08:55:13 am | Posted By CASANSAAR
With effect from the 1st April, 2021, it has been made mandatory for a GST taxpayer, having turnover of more than Rs 5 crore in the preceding financial year, to furnish 6 digits HSN Code (Harmonised System of Nomenclature Code), or as the case may be, SAC (Service Accounting Code) on the invoic...
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CGST Delhi officials arrest man for input tax credit fraud of around Rs 94 Cr
Posted Date : 27-Mar-2021 , 08:21:55 am | Posted By CASANSAAR
The officers of CGST Delhi North Commissionerate upon data analysis and gathering of intelligence zeroed in on Shri Krishan Kumar who was involved in creating and operating fake firms using identification documents of his friends/employees.
As per investigation conducted so far, a total of 5 fake...
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