Showing posts from August, 2019

GSTR-1 & GSTR-6 due date extended for taxpayers in J&K and 58 flood affected districts

Notification No. 41/2019- Central Tax dated 31.08.2019 issued to waive the late fees for the month of July, 2019 for FORM GSTR-1 and GSTR-6 to be filed by taxpayers in J&K and 58 flood affected districts across 7 States provided the said returns are furnished by 20.09.2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD […] from TaxGuru via gqrds

FORM GSTR-7 due date extended for taxpayers in J&K and 58 flood affected districts

Notification No. 40/2019- Central Tax dated 31.08.2019 issued to extend due date for GSTR-7 to be filed by taxpayers in J&K and 58 flood affected districts across 7 States to 20.09.2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 40/2019–Central Tax New Delhi, the 31st August, 2019 G.S.R. […] from TaxGuru via gqrds

Section 103 of Finance (No. 2) Act, 2019 applicable from 01.09.2019

Notification No. 39/2019–Central Tax– Central Government appoints the 1st day of September, 2019, as the date on which the provisions of section 103 of the Finance (No. 2) Act, 2019 shall come into force. Extract of section 103 of the Finance (No. 2) Act, 2019 is as follows:- 103. In section 54 of the Central […] from TaxGuru via gqrds

CBIC waives requirement to furnish declaration in FORM ITC-04

Notification 38/2019-CT dated 31.08.2019 issued waiving requirement to furnish declaration in FORM ITC-04 for the period July, 2017-March 2018 and FY 2018-19 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 38/2019–Central Tax New Delhi, the 31st August, 2019 G.S.R. 615(E).—In exercise of the powers conferred by section 148 […] from TaxGuru via gqrds

Interest/late fees for services of pre-GST era, received after 1st July 2017

Interest/late fees for services of pre-GST era, received after 1st July 2017, are liable to GST Synopsis: The AAR, Tamil Nadu in the case of M/s Chennai Port Trust has held that the amounts received on or after July 1, 2017 towards interest, late fees, penalty relating to services of lease/rent, due to delayed payment of consideration […] from TaxGuru via gqrds

Extension of due date for submission of GSTR 9 & 9C- Make effective use

Now that dead line for submission of GSTR 9 and 9C for FY2017-18 are extended by three months , there is huge sign of relief amongst assessees as well as auditors. Of course, there may be some dismay also, because some hopeful Associations and clients may rue that submission of GST annual returns for FY2017-18 […] from TaxGuru via gqrds

Tax mismatch: 443 Chandigarh businessmen get notices

CHANDIGARH: The excise and taxation department has detected discrepancies in the sale and purchase record of 443 city-based businessmen from April 1 till August 30, issuing notices asking them to justify the mismatch in the records of their goods and service tax (GST) accounts. Deputy commissioner-cum-excise and taxation commissioner Mandeep Singh Brar said, “We have been analyzing the data and conducting the exercise to check transparency. Technology is playing a vital role in the task.” R K Chaudhary, assistant excise and taxation commissioner, said, “We have received 443 cases of mismatch of financial record. Notices have been served to these people. The entire data of both sellers and buyers goes to the central government-based Good and Services Tax Network. We receive raw data from there related to different segments of businessmen and then filter it.” The department has two modes of matching the records — Red Flag Indicators and E-way Bill. Employees and officers of the exci

HC beautifully explains concept of Natural justice in GST Case

It is true that the concept of natural justice is not very clear and therefore, it is not possible to define it; yet the principles of natural justice are accepted and enforced. from TaxGuru via gqrds

GSTR 3B For 2017-18 Can Be Rectified Manually: Andhra Pradesh HC

Andhra High Court through an interim order allowed assessee to manually rectify GSTR-3B returns for the months pertaining to FY 2017-18 . (Panduranga Stone Crushers v. Union of India). The petitioner has inadvertently and by mistake reported IGST input tax credit in all other ITC colum, The petitioner  contended that in the absence of any […] from TaxGuru via gqrds

No change in Income Tax filing deadline, clarifies tax department

NEW DELHI: The Income Tax (I-T) department on Friday issued a clarification regarding an order circulating on social media about the extension of income tax return (ITR) filing deadline.  The circular stated that the tax department had extended the deadline for filing ITR from August 31, 2019, to September 30, 2019, as taxpayers are facing difficulties in filing their income tax returns on time due to various reasons including extensions of due date for issue of Form 16 for the assessment year 2019-20. However, the I-T department clarified that the order is not genuine and August 31 is the last day for filing tax returns. “It has come to the notice of CBDT that an order is being circulated on social media pertaining to extension of due dt for filing of IT Returns. It is categorically stated that the said order is not genuine.Taxpayers are advised to file Returns within extended due dt of 31.08.2019,” I-T department said.  It has come to the notice of CBDT that an order is being c

GST: Fiscal deficit crosses 77% of budgeted target in first four months of FY20

The deficit stood at 8.8 per cent of gross domestic product (GDP) in the first quarter of FY20 (Q1FY20) NEW DELHI: The Centre’s fiscal deficit touched 77.8 per cent of the Budget Estimates (BE) at Rs 5.5 trillion in the first four months of the financial year 2019-20 (FY20), against 86.5 per cent in the year-ago period. The deficit stood at 8.8 per cent of gross domestic product (GDP) in the first quarter of FY20 (Q1FY20), an improvement over the Q1FY19 figure of 9.5 per cent. The government managed to keep the deficit, in terms of percentage of BE, at a lower level in April-July of FY20 compared to last year largely because of its expenditure compression, mainly capital expenditure (capex). Moderation in capex in terms of percentage of BE may have an impact on the economic growth numbers amid muted private investments. Also, despite talks of revenue problems, the government was able to keep its income at the same level as last year in terms of percentage of BE. In fact, the tax

GDP numbers raise some serious questions about the state of the economy

Low index of industrial production growth coupled with less than 5% growth in corporate sector topline has been indicative of a low economic performance in the quarter The GDP growth number for Q1-FY20 was not expected to be satisfactory with estimates being in the region of 5.5%. However, the 5% growth, which is now a six-year low, does raise some serious questions about the state of the economy, given that prima facie our economy does seem to be one of the best performing economies in the world. The problem remains unchanged with the manufacturing sector being the drag. Support has tended to come more from the services segments, which is now a regular feature of the profile of growth. Low index of industrial production (IIP) growth coupled with less than 5% growth in corporate sector topline has been indicative of a low economic performance in the quarter. The principal challenges continue to be low growth in consumption and investment, which have worked against any momentum being

Solar Power Plants and GST

 In view of the important needs of alternative new eneryg, India needs a vibrant industry revolution by inviting FDI in solar and wind energy sector.  To support the project developers, the total project cost should be levied 5% GST as composite supply which includes the supply of solar devices, parts and accessories and installation charges. Or as required by the industry it should be reviewed as 90:10 instead of 70:30 now applicable. from TaxGuru via gqrds

LIVE: Press Conference by Union Finance Minister Nirmala Sitharaman

GST leviable on ‘Mobilization Advance’ as on July 1, 2017 received for works contract service: AAR

The West Bengal AAR in the matter of Siemens Ltd. has ruled that the Applicant is deemed to have supplied works contract service to KMRCL on July 1, 2017 to the extent covered by the lump-sum that stood credited to its account on that date as mobilisation advance and GST is leviable thereon accordingly. from TaxGuru via gqrds

Had GSTN been subjected to audit by third party so far?

Had GSTN been subjected to audit by third party so far? Answer is yes but still why the hell GSTN is unable to cope up with the amendments and glitches? As reported in Business Standard dt. 27/06/2018 (, GST Network has decided to go in for third-party audit of its software developed by Infosys to ensure that all changes in […] from TaxGuru via gqrds

Advance ruling: A useful tool for achieving tax certainty

Advance ruling can be obtained in respect of registration requirement, classification, determination of time and value of supply, admissibility of input tax credit and determination of the tax liability. Taxpayers need to exercise this option with caution, compared with other modes of obtaining certainty and dispute resolution, in view of the recent trend of adverse rulings. India embarked on its journey of ‘One Nation One Tax’ with the introduction of the goods and services tax (GST) in July 2017. The landmark legislation, which has completed two years, is the biggest tax reform in India after independence. The GST Act subsumed erstwhile indirect taxes such as excise duty, value-added tax (VAT), service tax, etc. In order to ensure uniformity in central and state GST laws, the GST Act promulgated setting up of a GST Council to recommend changes in the law for consistent implementation by the central and the state governments. Being a new legislation, the GST law posed challenges f

GST: Govt to announce two big steps to boost industry

GUWAHATI: Stating that consumption needs to be given a push, Union finance minister Nirmala Sitharaman Thursday said the Centre will announce two more big steps in the coming days to give momentum to industry. The government has decided to increase spending and has announced a slew of measures to arrest the sluggishness in the automobile market, she told a press conference here. She also informed that authorities have been instructed to clear all pending GST refunds within the next 30 days, while asking to release all such refunds within 60 days in future. The minister, however, did not elaborate on the two steps to be taken by the government. “Globally if we compare economy and growth, we still are the fastest growing economy. We recognise that consumption has to be given a push,” she said. The government has decided to increase public spending with “considerable spending in infrastructure” to boost the economy, Sitharaman said. Asked about the government’s plans to utilise th

Unplanned GST roll-out led to fraud of Rs 45,682 crore

The “hurried and unplanned” roll-out of the GST has not only led to lower tax collections, but has also allowed frauds worth more than ₹45,000 crore to take place, West Bengal Finance Minister Amit Mitra wrote in a letter to Union Finance Minister Nirmala Sitharaman. “I am shocked to learn about the massive fraud taking place under the GST structure,” he wrote. “The scale of this fraud has been quantified by a written response in the Rajya Sabha by the Minister of State for Finance Anurag Singh Thakur, [who said] a staggering amount of ₹45,682 crore of tax fraud was detected under the GST since its roll-out.” Mr. Mitra further said that this fraud amount was likely understated because it did not take into account the frauds done in State GST. The real figure, he added, could be more than ₹1 lakh crore. Mr. Mitra added that he had warned the government that giving up on the concept of invoice matching would lead to widespread tax frauds. “Indeed, the subdued and below-target tax co

AP High Court permits revision in GSTR-3B Form

The Andhra Pradesh High Court has ruled that the GST Return (GSTR) Form — GSTR-3B — is a statement and a revision option should be provided. Once implemented at the national level, it will be a big relief for a large number of GST assessees — excluding those under composition scheme. As on June 30, there are more than 1.39 crore GST assessees, of which over 17.60 lakh are those who have opted for the composition scheme. The composition scheme is applicable for those whose annual turnover is up to ₹1.5 crore and ₹75 lakh in States of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura and Uttarakhand and need to pay tax equal to 1 per cent to 5 per cent of the turnover. All taxpayers, except those registered under the composition scheme, are required to file GSTR-3B and pay tax on a monthly basis. These have to be filed by the 20th day of the following month. Even assessees with ‘NIL’ returns are required to file GSTR-3B. As of now, there is no provision for rev

GST officer booked for asking bribe

CBI claims the officer demanded bribe for closing a case of alleged tax invasion HYDERABAD:   The Central Bureau of Investigation (CBI) officials have registered a case against the Superintendent of Central Excise and Service Tax, Karimnagar division, S Chandrasekhar, for demanding a bribe of Rs 50,000 from a businessman.  The CBI officials stated that Dudem Narender, director of Somasekhara Chit Funds Private Limited, lodged a complaint with them alleging that he recently received a call from GST superintendents Chandrasekhar and Rafiquddin, after which two others approached his office introducing themselves as GST officers from Karimnagar. The two GST officers claimed that they have received a plaint against the company regarding evasion of tax and asked Dudem Narender to appear before them on June 18. On June 18, the complainant went to the GST office in Karimnagar and met Chandrasekhar. The complainant was served a notice asking him to submit his firm’s balance sheet, service t

GST evasion arrest hit SMEs hard; here’s what courts must consider before putting promoters in jail

The powers conferred upon GST commissioners to make arrests in cases involving fake GST invoices cannot be disputed. However, the way these arrest provisions have been incorporated under the GST law is certainly amenable to a constitutional challenge. Arrests under the GST laws have been incessant with Revenue Authorities belligerently investigating ostensible issuance of alleged fake invoices and availing credit in case of circular trading. The SME sector is also under scrutiny. Many small business concerns are being investigated in alleged GST evasion cases. Offences are non-bailable when the amount involved crosses Rs 5 crores and SMEs can easily come under the threshold. Contravention of GST? Allegations are predominantly based on the premise that goods are sold without actual movement or delivery. However, the GST Act itself recognises constructive delivery without movement of goods. Presence or absence of goods are fact-based and tax payment at every stage raises the concern

GST: HDFC Bank nudges higher in early trade

HDFC Bank rose after the bank announced that it will sell its entire stake in Goods & Services Tax Network. Shares of HDFC Bank rose 0.92% to Rs 2,248.10. The stock traded in the range of Rs 2,231.05 and Rs 2,249.45 so far during the day. On the BSE, 4414 shares were traded in the counter so far compared with average daily volumes of 1.60 lakh shares in the past two weeks. HDFC Bank has agreed to sell its entire stake of 10% in the equity share capital of Goods & Services Tax Network (GSTN) consisting of 10 lakh equity shares of Rs 10 each, for a total consideration of Rs 1 crore to various State Governments and Union Territories. The sale would be completed by end of December 2019. The announcement was made after market hours yesterday, 29 August 2019. GSTN is a non-profit organization for facilitating the collection of Goods & Services Tax (GST). Pursuant to the decision of the GST council in its 27th Meeting held on 4 May 2018, GSTN would be converted into a 100% Gov

Transfer & Posting of 134 Additional/joint Commissioner of GST

CBIC Office Order No. 120/2019 dated 28th August, 2019 for 134 transfer and posting in the grades of Additional/joint Commissioner of Customs, GST and Central Excise. Office Order No. 120/2019 No.A-22011/02/2019-Ad.II Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs New Delhi, the 28th August, 2019 OFFICE ORDER […] from TaxGuru via gqrds

No ITC on inward supplies for in-house hospital providing free medical facilities to employees: AAR

Synopsis: The Tamil Nadu AAR in the matter of Chennai Port Trust has ruled that the Applicant, providing medical services and medicines as part of mandated rules, is not entitled to take credit of input tax on the inward supply of medicines used in providing free medical facilities to the employees, pensioners and their dependents […] from TaxGuru via gqrds

GST Annual Return filing date extended. This is what taxpayers need to do next

Taxpayers should not procrastinate and use the additional three months to ensure issues are sorted and compliances are met with. The Government recently extended the due date for filing of Annual return (GSTR-9) and reconciliation statement/ audit report (GSTR-9C) till November 30, 2019 and taxpayers should now use the additional three months to address their concerns and ensure the returns are filled on time. This is the fourth extension from the original deadline of December 2018 and the said decision has been taken on account of technical glitches being faced by the taxpayers in filing the said returns. According to Priyajit Ghosh, Partner, Indirect tax, PwC India , the extension for 2017-18 is expected to bring relief on several counts. “First, several technical issues are being faced by the taxpayers such as the JSON files (the data is converted into this file format and uploaded to GSTN for electronic filing) are rejected upon upload to GSTN without indication of error, digit

Good governance, zero corruption essential for economic growth: Prakash Javadekar

“Good governance and zero corruption are essential for economic growth. Good governance is the basis of good economy. Zero corruption and low inflation are two important keys for any kind of sustainable economic development. Real growth can be seen now with low inflation of three-four per cent. Good governance and zero corruption are needed for sustainable economic development in the country, Union Minister Prakash Javadekar said on Thursday. Speaking at the 60th SKOCH Summit here, he exuded confidence that India will become a five trillion dollar economy under the leadership of Prime Minister Narendra Modi in the next five years. “Good governance and zero corruption are essential for economic growth. Good governance is the basis of good economy. Zero corruption and low inflation are two important keys for any kind of sustainable economic development. Real growth can be seen now with low inflation of three-four per cent. “India will become a five trillion dollar economy under the l

GST has flaws; redesign, revisit in its entirety: Punjab Finance Minister

Manpreet Singh Badal said it does not make a difference which political party one belongs to, but the objective should be to make India a superpower. Punjab Finance Minister Manpreet Singh Badal said on August 29 there were flaws in the Goods and Services Tax and called for GST 2.0 by redesigning and revisiting it in its entirety. “GST has been a disappointment, and I think there has been some flaw in the design,” the Minister in the Congress government headed by Capt. Amarinder Singh told PTI here. He said expectation was that once GST was introduced, GDP would go up by two percentage points, tax collections would increase, exports would become competitive and filing would be very easy. But the experience has been that the GDP growth has “not taken place” to the expected level and filing is “very, very difficult”, said Badal, here to attend the 8th “Invest North” summit, organised by the Confederation of Indian Industry. He said there were certain flaws in the GST and wondered w

HC issues notice on issue of correction of GSTR 3B and GSTR 1

Petitioner-Assessee has to file his annual return for the Assessment Year 2017-18 by 31.8.2019 under the CGST and HGST. However, it is handicapped on account of inadvertent mistakes/errors having occurred while filing statutory forms GSTR-1 and GSTR-3B, which can be corrected in view of legal provisions, however, same are not being accepted by official portal of the department. from TaxGuru via gqrds

Time limit to claim ITC of FY 2018-19

One month time left out to reconcile books of account of F.Y. 2018-19 to ensure that maximum Input Tax Credit (ITC) is claimed. As per the provision u/s 16(4) of CGST Act, 2017, a taxpayer can take input tax credit in respect of any invoice or debit note for supply of goods or services or […] from TaxGuru via gqrds

GST Audit Questionnaire – Part 1

Again, the due date for filing of GSTR 9 & 9C extended to 30th Nov. 2019 for FY 2017-18.  Meanwhile, for review of GST compliances and all, we draft a GST Audit Questionnaire which will publish in 3 Parts. Now, we are publishing the Part-1 of GST Audit Questionnaire. Hope, this may helpful for conducting […] from TaxGuru via gqrds

GST Invoicing and all you need to know about it!

When should you issue a GST Invoice? Certain people have confusion regarding timing of issuing GST invoice. Whether invoice should be issued first and then goods are to be supplied or goods are to be delivered first and then invoice should be issued? This confusion can be resolved when we take a close look at GST laws. from TaxGuru via gqrds

ICAI Requests extension of Form GSTR 9 / 9A /9C (Read Representation)

ICAI Request for extension of Annual returns in Form GSTR 9 and GSTR 9A along with GST Audit Certificate in GSTR 9C from August 31, 2019 to November 30, 2019 from TaxGuru via gqrds

GST: Revenue slides in three months from 14% to 5%

Chief minister Y S Jaganmohan Reddy held a review meeting with officials from revenue earning departments at his camp office in Tadepalli on Wednesday.  The officials from revenue, excise, commercial taxes, stamps, registration and transport departments attended the meeting and presented reports from their respective departments on the revenue position. The commercial tax officials briefed the chief minister that their revenue has come down in the last three months from 14% to 5.3% due to fall in the sale of iron, cement and steel. The officials told the CM that the fall was due to recession in construction activity and expressed confidence that the sale of these products would go up from September with the government launching its new industrial policy. In vehicle sector too, the GST share has come down because of the slowdown in automobile industry. The officials expressed confidence that the GST from this sector would pick up by the end of the current financial year. The officia

GST: One held for central excise evasion

NAGPUR: The Nagpur zonal unit of directorate general of GST intelligence (DGGSTI) arrested one more person for alleged evasion of taxes by availing input credit through fake invoices. This is the third arrest in a month under the Nagpur zone, which has its jurisdiction in Vidarbha, Marathwada, Khandesh regions apart from parts of Western Maharashtra. The case relates to evasion of dues of the pre-GST period. With an alleged evasion of Rs4 crore probed, this is pegged to be the biggest case in terms of amount of tax evaded during the pre-GST time, sources said. The earlier laws called for arrest if the evasion touched Rs2 crore. The sleuths have arrested Deepak Ambadas Nagargoje of M/s Ambika Water Management at Ahmednagar. The unit was already under probe for alleged clandestine removal of goods from the factory without paying GST. However, further probe also revealed that the company had availed CENVAT credit under the old central excise through fake invoices. The invoices were

Rail wagon makers buck the trend, seek higher GST

Inputs are levied GST of 5% and 18%, leading to an inverted duty structure as hundreds of crores of rupees in input tax credit are stuck, the companies say. NEW DELHI: Amid the clamour for cuts in goods and services tax (GST) rates to help revive demand, rail manufacturers are seeking the opposite—an increase. Alstom, General Electric and Bombardier, which have set up manufacturing facilities in the country for rail wagons, have written to the government, seeking a 12% GST levy on rail products from 5% now. Inputs are levied GST of 5% and 18%, leading to an inverted duty structure as hundreds of crores of rupees in input tax credit are stuck, the companies say. This gives imported rail products an advantage as they just have to pay the 5% levy, frustrating the government’s aim to boost local manufacture. “The restriction on refund of unutilised input GST credit on account of inverted duty structure has increased costs of the railway products manufacturing industry and gives a comp

West Bengal minister alleges GST fraud, asks Finance Minister for inquiry

He has alleged that ₹45,682 crore tax evasion had been detected since the rollout of GST in July 2017. Alleging that there could be evasion of Goods and Services Tax (GST) to the tune of ₹1 lakh crore in the country, West Bengal Finance Minister Amit Mitra has asked Union Finance Minister Nirmala Sitharaman to undertake a thorough investigation into the matter. In a letter to the Union minister on Tuesday, the Bengal minister said the scale of the fraud had been quantified in a reply by Minister of State for Finance Anurag Thakur to Rajya Sabha where he said ₹45,682 crore tax evasion had been detected since the rollout of GST in July 2017. “In fact, this massive fraud under GST is understated as complete data of frauds under SGST [State GST] have not been factored in. If the detected and undetected cases of tax fraud of all States under SGST are compiled, then the tax evasion figure may cross ₹1 lakh crore,” he wrote. He added that not having the provision of invoice matching but

Parle threatens job loss again if GST rate cut demand not met

Earlier last week, Mayank Shah told Financial Express Online and other media outlets in separate interviews about “the eventuality of job loss” if the government did not accede to biscuit makers’ demand of bringing the pre-GST tax rates on biscuits. Days after a Parle executive threatened 8,000-10,000 job losses due to slower biscuit sales, the said executive has reiterated that the company might be forced to cut jobs if the government doesn’t provide a GST rate relief to biscuit makers. “The condition of job loss is actually an eventuality if our demand for lesser tax rates is not met,” Mayank Shah, category head, Parle Products Ltd said to news agency ANI in an interview yesterday.  However, at the same time, Mayank Shah denied the reports of any job losses so far in his interview to ANI. “The facts have been hyped by media,” he said.  Earlier last week, Mayank Shah told Financial Express Online and other media outlets in separate interviews about “the eventuality of job loss” if

Two years of GST regime: Why penalise us, ask taxpayers

During 2018 – 19 fiscal, the state earned a revenue of Rs. 36,330 crore through GST and it includes the State’s share. CHENNAI:  Two years after its implementation, the Goods and Services Tax (GST) regime does not appear to brighten the lives of traders. The system has been penalising true taxpayers, while tax evaders thrive, claims the Tamil Nadu Food Grains Merchants Association. A point in case is the evasion resorted by several traders who market their products as unregistered brand. For instance, under the GST system, commodities like rice, dhal, flour and millets are levied 5 per cent tax if they are registered under a brand name while tax exemption is granted if the same commodities are marketed under as unregistered brand with the declaration of the same on the packet. This has led to poor quality products flooding the market and on the flip side those marketing under a specific brand for generations find it a raw deal. Another issue that has been raised by the associations

Why the Government should waive off GST Return as opposed to extending deadlines

Over the last two years, the focus of the tax payers has shifted from managing their business to tackling the compliance issues over the modest GST Portal. The introduction of destination-based consumption tax in the form of GST was one of the biggest reforms the current Government brought in. Although GST was been introduced with the intention of simplifying the system of Indirect Taxation and thereby increasing the ease of doing business in the country, the inadequate preparation, lack of clarity/ awareness and huge variation in procedures under the GST Laws, over erstwhile practices has seen the business fraternity, tax professionals and people at large facing a plethora of challenges. One such challenge amidst others was the lack of readiness of the GST Network. Since the inception of GST, businesses have faced a multitude of difficulties in coping with it right from, migration / registration, transition of the erstwhile tax credits or be it complying with the periodic returns.

Fraudulent GST Refund claim against fake documents -Reg.

Commissioner GST (Investigation) while explaining the modus operandi of the fraudulent refund claim vide the above referred OM has suggested for issuance of a Circular/Instruction to address and curb the kind of fraud detailed in his letter from TaxGuru via gqrds

Error and Solution for GSTR 9C-JSON

Every Professional started to file the GSTR 9C. He is facing the number of errors while generating the GSTR 9C Json and Uploading the GSTR 9C JSON. Here, you may find the solution of your problem. List of Error and solution for GSTR 9C JSON S. No. Particulars 1 Please note that JSON of GSTR […] from TaxGuru via gqrds

AAR Rajasthan allows ‘Gifts on Airline Solutions’ to withdrawn application

In re M/s Gifts on Airline Solutions Pvt. Ltd. (GST AAR Rajasthan) Classification of any goods or services or both. Admissibility of Input Tax credit of Tax paid or deemed to have been paid. Determination of the liability to pay tax on any goods or services or both. Since the applicant has withdrawn the application, […] from TaxGuru via gqrds

GST Payable on execution related to transmission system of RVPN for customers

In re M/s Rajasthan Rajya Vidyut Prasaran Nigam Limited (GST AAR Rajasthan) 1. Whether facilitating the execution of works requiring modification/ augmentation/ shifting/ additions to the transmission system of RVPN at the specific request of the consumer/intending agency under Deposit Work is a `Supply’ in terms of Section 7 of the CGST Act, 2017? Facilitating […] from TaxGuru via gqrds

AAR Rajasthan allows ‘Indo Autotech’ to withdrawn application

In re M/s Indo Autotech Limited (GST AAR Rajasthan) The applicant has purchased industrial plots in Mahindra World City located in Tehsil- Sanganer, Jaipur, Rajasthan 302037 on long term lease. The developer i.e. M/s Mahindra World City has charged GST 18% on lease premium value of industrial plots under HSN 997212. 2. QUESTIONS ON WHICH […] from TaxGuru via gqrds

Admissibility of ITC of Tax paid or deemed to have been paid- AAR allows withdrawn of application

In re M/s Indo Autotech Limited (GST AAR Rajasthan) Note: Under Section 100 of the CGST/ RGST Act, 2017, an appeal against this ruling lies before the Appellate Authority for Advance Ruling constituted under section 99 of CGST/ RGST Act, 2017, within a period of 30 days from the date of service of this order. At […] from TaxGuru via gqrds

GST under RCM Payable on transportation Charges of cotton seed oil cake

In re M/s Sanjay Kumar Jain (GST AAR Rajasthan) The applicant uses service of GTA for transportation purpose, hence the applicant is recipient of service and concerned GTA is service provider. Being recipient of services the applicant is liable to pay GST as per the provisions mentioned in the above said Notification. Further, during the […] from TaxGuru via gqrds

No GST on notional processing fees on loan to various Gujarat Government entities by GSFS

In re M/s. Gujarat State Financial Services Ltd (GST AAR Gujarat) Question – 1 The Applicant is providing financial assistance in the form of loan to various Government of Gujarat entities, whether all such Gujarat Stated owned entities and GSFS become related persons in GST? Answer: The relationship between Gujarat State Financial Services Ltd. and […] from TaxGuru via gqrds

GST on refundable interest free deposit in Demat account & Free Transactions

In re M/s. Rajkot Nagrik Sahkari Bank Ltd (GST AAR Gujarat) Question 1 : In the facts and circumstances of the case whether Refundable Interest Free Deposit received could be treated as Supply under the provisions of Goods and Services Tax Act, 201 7? And chargeable to tax in the hands of the applicant? Answer […] from TaxGuru via gqrds

GST on pure services provided to Central /State Govt or UT

In re Shri Jayesh Anilkumar Dalal (GST AAR Gujarat) Question: Whether or not my supply of services in the nature as mentioned in point 12(B) above, provided to Local Authorities , Urban Development Authority, Dist. Panchayat R&B Div. and other Government Departments which are entrusted with the functions mentioned under article 243G and 243W of […] from TaxGuru via gqrds

More bicycle firms on GST radar for tax evasion, IT action too likely

After detecting several cases of GST suppression by some bicycle manufacturers and traders in the city recently, dozens of other firms adopting similar practices to evade tax are on the radar of the central GST (CGST) and state GST (SGST) departments. The action on these companies will likely be taken in the coming days as the taxation departments, particularly the CGST, has gathered credible information about the companies indulging in tax evasion. The department has also received anonymous complaints against some companies and these too will be probed. Meanwhile, income tax probe too may be requested by the department as in some cases income tax is also being suppressed by businessmen. Meanwhile, a source in the department gave an insight about the exact modus operandi of businessmen involved in tax evasion by way of undervaluation of bicycle. “The GST on a bicycle is 12 per cent and the cycle companies involved in the malpractice of suppression of the GST are billing their bicy

Traders want GST norms to be further simplified

LUDHIANA: Shortly after the Union finance minister Nirmala Seetharaman announced measures to help businessmen combat recession, city-based traders are demanding more benefits. They are of the view that the norms governing the GST should be further eased and the government should take steps like making tax payments under the GST on quarterly basis for small industrialists. Recently, the tractor parts manufacturers and traders association (TPMA), Ludhiana, organized a meeting with Pawan Garg, deputy excise and taxation commissioner (DETC), Ludhiana, and expressed their concerns. Vijay Dadu, president, TPMA, said: “We are thankful to the Union government for understanding the situation of businessmen and taking steps in the right direction to revive the economy. But as far as small industries are concerned, there is still a scope of taking more steps which can give them a breather like simplifying the taxation system, particularly the GST, and depositing tax on quarterly basis for sm

GST Return: Dealers bat for reforms

INDORE: Extension in due date for filing GST annual returns in the wake of crawling response has failed to cheer stakeholders claiming extension is not a solution but a complete waiver for 2017/18 yearly returns or thorough restructuring of form to make it friendly. The last date for filing annual GST returns has been extended by three months to Nov 30 from August 31 citing technical issues faced by tax payers in furnishing returns, stated finance ministry. In Madhya Pradesh out of about four lakh registered dealers under GST, less than 20 per cent from state have filed yearly returns till date while less than 2 per cent have filed audited GSTR-9C, according to officials, industry chambers and tax practitioners associations.  Ahilya Chamber of Commerce and Industry general secretary Sushil Sureka said, “How can extension in due date be a solution when no one is able to understand the format and produce documents to file returns. A minimal percentage may certainly increase by extens