GST Connect

Return Type Month/Period Due DateGSTR-3BFebruary (2020) (>5 cr)20th March, 2020GSTR-3BMarch (2020) (>5 cr)20th April, 2020GSTR-3BJanuary (2020) (<5 cr)22nd & 24th February, 2020 (Different States)GSTR-3BFebruary (2020) (<5 cr)22nd & 24th March, 2020 (Different States)GSTR-3BMarch (2020) (<5 cr)22nd & 24th April, 2020 (Different States)GSTR-1January-March (2020) (<1.5 cr)30th April, 2020GSTR-1February (2020) (>1.5 cr)11th March, 2020GSTR-1March (2020) (>1.5 cr)11th April, 2020GSTR-2--Suspended until further notice from Government.GSTR-3--Suspended until further notice from Government.GSTR-4January-March (2020)18th April, 2020GSTR-5February (2020)20th March, 2020GSTR-5AFebruary (2020)20th March, 2020GSTR-6February (2020)13th March, 2020GSTR-7February (2020)10th March, 2020GSTR-8February (2020)10th March, 2020GSTR-9, GSTR-9A & GSTR-9CAnnual Return (F.Y.18-19)31st March, 2020The post Due Dates of GST Returns appeared first on GST Station.

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The gold ornaments caught evaded GST of Rs 1.3 crore. “The raids were based on credible information and data analytics available in the backend system with the department developed by the NIC, Karnataka,” Commissioner of Commercial Taxes MS Srikar said.BENGALURU: The Commercial Taxes department has unearthed large scale evasion of GST by jewellers in Chickpet area in Bengaluru after it found 60 kgs of gold ornaments worth Rs 21 crore without GST documents. It conducted the search operations on 23 jewellers at Ranganatha Mansion and Sakalajee Market in Chickpet area in Bengaluru on Tuesday.The gold ornaments caught evaded GST of Rs 1.3 crore. “The raids were based on credible information and data analytics available in the backend system with the department developed by the NIC, Karnataka,” Commissioner of Commercial Taxes MS Srikar said.The raid was based on information that many traders from other states would routinely visit Bengaluru and carry gold ornaments back home without any v…

HYDERABAD: An interactive session organised by the Hyderabad GST Commissionerate here on Friday provided a platform for taxpayers to clarify various issues related to the provisions of Goods and Service Tax (GST) and procedures.Hyderabad GST Commissionerate Principal Commissioner D Purushotham and his team gave presentations on the new returns system and e-invoicing at the session conducted at the Telugu Film Chamber of Commerce in Jubilee Hills. Under the guidance of Purushotham, the team replied to the participants’ questions.Purushotham said this was an opportunity to directly interact with the GST officials and urged the taxpayers to get their issues clarified. He said this was the third interactive session among the seven workshops planned in Hyderabad.Narayana Das Narang, Film Chamber Association president, Paruchuri Gopala Krishna from writers association and secretary of Producers’ Council Damodhar attended the session along with other members of the film fraternity.Following …

Small business owners often voice a few queries related to input tax credit (ITC). This article seeks to answer some of the commonly asked questions and list out the key changes in the process.Ever since the GST came into effect on July 1, 2017, the Indian economy has seen a plethora of regulations implemented by the GST council. Now the department is using analytics to keep tab on the errant taxpayers who are claiming excess input tax credit or to track some taxpayers who are not serious about the matching of their GSTR-3B with their GSTR-2A. The Input Tax Credit (ITC) is one of those regulations that is causing some confusion among the masses. Here is a brief explanation of what ITC means, how it will affect the masses- especially small business owners, and what are the necessary steps needed to be taken.What is ITC?Input tax credit (ITC) is the subtraction of the tax money you have paid on inputs on the final output bill.Who can avail of ITC?ITC is available to an entity only when …

BS Smart Business Seminar on Direct Tax Vivad Se Vishwas Scheme, Union Budget, and Recent Changes in GST was organised on 22nd Feb 2020 at CETA Hall, Kolkata. It was jointly organised by Business Standard in association with CETA, CMDA, CEDA and Concern for Calcutta.Advocate and Tax Expert Mr Narayan Jain advised taxpayers to take benefit of settling disputes under Direct Tax Vivad Se Viswas Scheme. If the amount of Income Tax Demand is paid in time then one can get waiver of interest and penalty if appeal has been filed within 31st January 2020 or within time permitted for filing appeal.Scope of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) has been extended to E-commerce transactions with Amazon, Flipkart, Snapdeal, etc., as well as on foreign remittance and on the amount paid to tour operators for travel abroad. It needs to be reviewed as such provisions were unfair where TDS or TCS is applied on a transaction which is not income of taxpayer, Mr Narayan Jain added.…

Deepak Pandit, a close relative of film personality Ashoke Pandit, is alleged to have abused his official position and indulged in corruption for amassing assets, they said.The CBI has booked Deepak Pandit, an Assistant Commissioner of GST and Central Excise, on corruption charges for amassing assets worth over ₹3.96 crore which are 376% above his known sources of income, officials said on Friday.Pandit, a close relative of film personality Ashoke Pandit, is alleged to have abused his official position and indulged in corruption for amassing these assets, they said.In a tweet in 2018, Ashoke Pandit had described him as his “younger brother”. The agency has booked Deepak Pandit, his wife Arushi and two sons – Ashutosh and Divyansh.The agency sleuths carried out searches at seven residential premises – six in Mumbai and one in Bhubaneswar – in the name of Pandit and his family members on Thursday which continued till late evening, they said.Pandit started his career with the Customs Dep…

In a bid to shore up GST collections and recover pending dues, the Centre has sent out several lakhs of recovery notices to taxpayers, sources said. These notices are under various sections including violations, claiming of excess credits and delayed payment.A massive data analytics drive has helped the government calculate these dues which are legally pending to be cleared by the taxpayers, the sources added.​”A high-level revenue augmentation review meeting has been called by Revenue Secretary Ajay Bhushan Pandey today where GST wing has updated on the notices sent out and the recovery so far,” a senior government official said, confirming the development.​According to sources, the Centre’s GST wing has asked field formations to keep a close watch on over 262,000 GST taxpayers pan-India to ensure they file timely returns to maintain steady growth in monthly GST collections.These taxpayers have been identified after detailed trend analysis through data monitoring, risk profiling and …

Sonowal while informing that there has been 18 percent growth in the collection of State GST (SGST) in the state and refunds have been made on time, Sonowal urged the Union Finance Minister, Nirmala Sitharaman to release the Central GST (CGST) and Integrated GST (IGST) refunds so that business community here gets encouragement to increase business activity.GUWAHATI: Assam chief minister, Sarbananda Sonowal said there is 18 percent growth in the collection of State GST (SGST) in the state and refunds have been made on time.Sonowal while informing that there has been 18 percent growth in the collection of State GST (SGST) in the state and refunds have been made on time, Sonowal urged the Union Finance Minister, Nirmala Sitharaman to release the Central GST (CGST) and Integrated GST (IGST) refunds so that business community here gets encouragement to increase business activity.Assam Industries and Commerce Minister Chandra Mohan Patowary participated in a roundtable business meet with di…

For vibrant growth of SMEs and employment generation, several challenges created by the tax regime need to be addressed.At the outset, it is believed that GST, by amalgamating several central and state taxes into a single tax, would mitigate tax escalation and facilitate free movement of goods across states, without stoppages at state borders. Yet, multiple registrations and payments, the application of IGST on self-supplies, and limitations to the refund claiming mechanism can be major drawbacks of the current GST structure.The literature on GST has always highlighted the cost/benefit of GST during the implementation phase. It has also been argued that SMEs suffered a higher financial impact as compared to medium and large businesses at the time of GST implementation. For instance, an evidence-based study from New Zeland suggests that nearly 60% of the compliance costs of GST fell on SMEs. Moreover, SMEs only accrue the benefits of GST over a long period of time—and that, if they sur…

Says while Centre had targeted collection at 21%, actual figure has been hovering at 1.5%KOLKATA: West Bengal finance minister Amit Mitra, on Tuesday said he is concerned that GST cess, amounting to Rs 11,000 crore for February-March 2020 will not be paid by the Centre as it has fallen severely short of its targeted collection.“My deepest concern is for February-March, we will not get paid,” Mitra said at an event organised by the CII here.He said that while the Centre had targeted GST collection at 21 per cent, the actual figure has been hovering at 1.5 per cent.According to Mitra, while the state is faced with financial issues and an alternative plan is being worked out by the state government, the Centre has been increasing cess and surcharges from where states do not get any share.“The states are getting squeezed. The cess is being constantly increased – it was six per cent in 2013-14 and now it stands at 18 per cent. This is against the federal structure of the country. It is a p…

In this article Author has compiled detailed reply to be submitted to GST department against Notice demanding interest on Gross GST Liability without giving Input Tax Credit for Late Submission of Form GSTR 3B under Section 50(1) of CGST Act, 2017. Text of the Submission is as follows:-  Dear Sir, R: M/s. _____________  GSTN : […]

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Interest is levy on delayed payment. The intention of the legislature is also evident from the agenda of the 31st GST Council meeting and the various precedents. It is worth asking that when the amendment has been put in the Act what are the reasons for not making the amendment effective till date?

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Offline Utility Tool for GST Refund Error solved Dear GST stakeholders. Here is the solution for error !!! The refund offline utility as downloaded from GST portal showing errors as follows Error 1: Either invalid date or Please enter the Invoice or Doc date in dd-mm-yyyy format Error 2: SI.No with Duplicate Entry in row […]

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RAIPUR: The enforcement wing of the state Goods and Services Tax (GST) department unearthed tax evasion allegedly worth several crores of rupees by a Raipur-based steel trader having a business turnover of Rs 840 crore.GST sleuths seized bogus e-way bills worth Rs 2.5 crore from the premises of a steel trader at Ashoka Millenium Complex in New Rajendra Nagar on late Saturday evening.An eight-member team led by joint commissioner Gopal Verma, conducted the search operation. He told TOI that the search operations are expected to continue till Monday evening.As per GST sleuths, the search operation started on intelligence inputs which indicated the mismatch between the firm’s turnover of Rs 840 crore in comparison to GST paid of only Rs 40 lakh. The GST sleuths have impounded incriminating documents from the office including laptops, desktops, financial documentation and relevant details from the trader’s office.The firm was allegedly involved in generating bogus e-way bills to evade GST…

The Maharashtra government wants to ban online lotteries of other states as it is not gaining any revenue from them. With this objective in mind, the state government will send a delegation of officials to West to learn from its experience of implementing the ban on online lotteries there.The decision in this regards was taken by deputy chief minister Ajit Pawar after a meeting to discuss implementation of the ban.West Bengal chief minister Mamata Banerjee banned the online lotteries in 2013, calling it a “social problem”.In Maharashtra, the paper lottery system would remain as it is, but the online lotteries from other states would be withdrawn, an official from the finance department had said earlier.The delegation will have officers from police and finance department to study the system in West Bengal, the official said.“Our state does not have its own online lotteries, while other states have online lotteries which are illegal. This is affecting our revenue consistently and hence …

Article compiles Format of Draft Letter / reply against Section 50(1) GST Interest demand in respect of the Delayed payment of the Tax amount on account of Late filing of the GSTR 3B Return. Dear Sir, R: M/s. _____________  GSTN : Your Letter No.———- dated——- in respect of Interest Due U/s 50(1) received through mail. […]

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Arjun (Fictional Character): Krishna, several cases of fraudulent claim input tax credit (ITC) have been caught by the GST authorities. Considering the same, in Union Budget 2020 it has been proposed to take massive steps to curb issuance of fake invoice. So, what are they? Krishna (Fictional Character): Arjuna, to curb issuance of fake invoices, […]

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Considering the economic environment around which Budget 2020 was presented, it was expected that Finance Minister Nirmala Sitharaman would offer something for everyone. Considering the fact that the Budget speech took a pretty long time to get completed, it appeared that there was something for everyone.  Everyone was expecting announcements to be made regarding GST 2.0- GST in a new avatar- but were left disappointed.  Both the Economic Survey as well as the opening part of the Budget speech focused on how GST has benefited the nation and what and all the government has done to proactively troubleshoot issues that cropped up during the implementation. Considering the fact that the finance minister spoke of a nominal GDP growth of 10%, the increase in GST revenues appears doable. Interestingly, IGST revenues have not been projected since this is subject to apportionment and fund settlement between Centre and states  as a result of cross utilisation of credits. This is a sort of an ad…

The ecommerce entities, including Amazon.com and Walmart-owned homegrown etailer Flipkart, have said they need time to upgrade IT systems in order to enable them to collect the 1% tax deduction at source (TDS) from sellers, a senior government official said.NEW DELHI: E-commerce companies have sought more time to implement a government proposal to levy a new tax, although they have, in principle, agreed to its imposition.The ecommerce entities, including Amazon.com and Walmart-owned homegrown etailer Flipkart, have said they need time to upgrade IT systems in order to enable them to collect the 1% tax deduction at source (TDS) from sellers, a senior government official said.“They’ve made representations, they’re fine with the tax deduction plan, but they want the date to be at a later time. They want to upgrade their IT system, which will take time,” the official said asking not to be named since the discussions were ongoing.The income tax department plans to bring the unorganised sec…

Irani has also pitched for correcting a crippling indirect tax structure in the man-made textiles segment, in which GST rates are high at the raw material stage and the ITC (input tax credit) process takes time, acceding to a long-pending request of the textile industry, sources told FE.Textile minister Smriti Irani has approached finance minister Nirmala Sitharaman seeking her intervention to ensure parity of the goods and services tax (GST) rates between cotton-based and man-made textiles, and undo a historical imbalance in favour of the natural fibre-dominated value chain that has hurt the country’s export prospects.Irani has also pitched for correcting a crippling indirect tax structure in the man-made textiles segment, in which GST rates are high at the raw material stage and the ITC (input tax credit) process takes time, acceding to a long-pending request of the textile industry.Decisions on GST rates, of course, are being taken by the GST Council that comprise both the Centre a…

State GST is the single largest component of Odisha’s tax revenueOdisha has estimated goods & services tax (GST) compensation grants of Rs 6200 crore for 2020-21, an increase of 2.9 per cent over the revised estimate (RE) of FY20.In the current financial year, compensation grants are estimated to rise by Rs 1160 crore from Rs 4867 crore at the budgeted stage to Rs 6027 crore at the revised stage.“An increase in the compensation requirement of the state reflects a further decrease in the GST revenue growth rate as compared to the 14 per cent growth proposed under the Act”, Delhi-based non-profit organisation PRS Legislative Research noted in its analysis of Odisha Budget for 2020-21.State GST is the single largest component of Odisha’s tax revenue. It is expected to generate Rs 15469 crore in the next fiscal. This marks an increase of 12.9 per cent from the RE of 2019-20.In 2020-21, Odisha is expected to mop up Rs 8750 crore from sales tax and Value Added Tax (VAT) on petroleum pro…

The revenue department notified the GST rate on supply of lotteries and amended its earlier Central Tax (Rate) notificationA 28 per cent Goods and Services Tax (GST) will be levied on lotteries from March 1, according to a notification.The GST Council had in December last year decided to impose a single rate of 28 per cent on state-run and authorised lotteries.The revenue department notified the GST rate on supply of lotteries and amended its earlier Central Tax (Rate) notification.Accordingly, the Central Tax rate for supply of lotteries has been amended to 14 per cent and a similar percentage will be levied by the states.This will take the total GST incidence on lotteries to 28 per cent.“This notification shall come into force on the 1stday of March, 2020,” the revenue department notification said.Currently, a state-run lottery attracts 12 per cent GST, while a state-authorised lottery attracts 28 per cent tax.There were demands thata uniform tax rate should be imposed on lotteries …

Ahilya Chamber of Commerce and Industry has made a request to Prime Minister of India to instruct CBIC through Finance Ministry to stop imposing unjust interest on GROSS TAX for belated payment of tax and returns despite its having agreed earlier, in its 31st meeting, that interest is payable on NET Tax liability only. Full […]

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What is GST TDS:- TDS stands for Tax deduction at Source. GST TDS (Tax deduction at Source) is different from TDS under Income Tax. The provisions of GST TDS are applicable w.e.f. 01 Oct 2018 ( Notification No. 50/2018 dated 13 Sep 2018 ) If a transaction is covered under both GST and Income Tax […]

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Who can avail Letter of Undertaking? Any registered person availing the option to supply goods or services for export without payment of integrated tax shall furnish, prior to export, a bond or a Letter of Undertaking in FORM GST RFD-11 to the jurisdictional Commissioner (vide circular no 2/2/2017-GST the power has been delegated to Deputy/Assistant […]

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Commissioner, GST And Central Excise Vs BSNL (Guwahati High Court) Section 35C of the Central Excise Act, 1944 confers jurisdiction upon the Appellate Tribunal to pass such orders which are indicated therein, including orders confirming, modifying or annulling the decision or order appealed against. However, Section 35C of the Act of 1944, does not confer […]

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High Court of Judicature at Madras has held that the refund of input Cenvat credit cannot be denied just because premises was unregistered, in the case of Commissioner of GST & Central Excise, Chennai Vs. BNP Paribas Sundaram Global Securities, in CMA No. 57 of 2018 dated 18.01.2018. Therefore, the denial of refund for the reasons of a premises being un­registered cannot sustain and the same is set aside.

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Role of the applicant No.1 is coming out in generating of fake and fabricated documents availed or to make other availed and illegal input tax credit causing huge loss to the revenue.

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Anand I Power Ltd. Vs Commissioner of Central GST (CESTAT Mumbai) Renting of immovable property services taken to be used as branch office for procurement of orders, delivery of goods, repair and maintenance service as well as for marketing purpose are admissible credits for both pre and post amendment period covering the entire disputed period […]

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It has come on record that the applicant's firm was found indulging in running business from bogus address and a huge transaction is shown to have been done without there is any such big transaction reflected from the account of the firm.

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Leave apart the frequent changes in the GST law by way of notifications and circulars which have made compliance very complex both for the businessman as well as the tax professionals. Certain sections in the law itself is not in favour of the common traders. The FM in her parliament speech had said there are […]

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The provisions regarding the provisional assessment under GST is given under section 60 of the CGST Act and the corresponding rule is given under Rule 98 of the CGST Rules 2017. Let us begin the discussion with the note that why the provisional assessment is  needed at all .The Sec.60 of the CGST Act 2017 […]

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Access card printed and supplied by the appellant based on the contents provided by their customers is supply of goods and is rightly classifiable under HSN code 4901 10 20 under the description brochures, leaflets and similar printed matter whether or not in single sheet. The access card printed and supplied by the appellant attracts […]

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The Central Board of Indirect Taxes and Customs (CBIC) enabled the option to file GSTR-9 and GSTR-9C for the financial year 2018-19. GSTR-9 is an annual return to be filed yearly by taxpayers registered under GST. It consists of details regarding the outward and inward supplies made/received during the relevant previous year under different tax […]

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Explanation of Notification No. 01/2020 Dt. 21.02.2020 of Central Tax (Rate). Such Notification is Deal with GST Rate on Supply of Lottery. Lottery Tickets:- ‘Lottery Tickets ‘ is an actionable ticket and is graded under GST as ‘ Goods. ‘ According to Schedule III, however, Actionable Payment does not include any delivery of goods or […]

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The tax-saving season is here, which means both the salaried and non-salaried taxpayers would have started looking for ways to claim deductions. There are many tax-saving avenues available in the market, insurance premiums being one of them.Under Section 80D, one can save tax based on the premiums paid on health and life policies. But, what about the Goods and Services Tax (GST) that is paid on these premiums? Can a taxpayer also claim deduction on the GST paid on these premiums?Well, the answer is yes. According to experts,  tax benefits on insurance premiums include GST.  The tax saving deduction amount is, however, subjected to an investment limit available under the particular section.When an individual pays a premium for a life or health policy, he/she is also required to pay GST, which is calculated as a percentage of the policy. On health insurance, 18 percent GST is charged on the premiums paid as per the current regulations.The rate of calculation, however, varies from policy…

“The indiscriminate stopping of tax credits, without even a prior notice and hearing is also likely to fall foul with the principles of natural justice,” Badal wrote to revenue secretary Ajay Bhushan Pandey, referring to the GST Council authorising the blocking of 40,000 crore GST credits due to a mismatch in filings and returns.NEW DELHI: Punjab finance minister Manpreet Singh Badal has asked the central government to remove a block on goods and services tax (GST) credits as it was leading to working capital issues.“The indiscriminate stopping of tax credits, without even a prior notice and hearing is also likely to fall foul with the principles of natural justice,” Badal wrote to revenue secretary Ajay Bhushan Pandey, referring to the GST Council authorising the blocking of 40,000 crore GST credits due to a mismatch in filings and returns.In the letter seen by ET, Badal said that businesses, which were already reeling because of a sluggish economy and poor liquidity, were being made…

Under the Goods and Services Tax (GST) framework, companies can set off costs incurred on raw materials or input services against future tax liabilities. However, it denies this benefit on goods distributed as gifts or given free.MUMBAI: A group of companies has dragged the government and the indirect tax department to court over denying input tax credit on gifts and samples given to customers and clients.Under the Goods and Services Tax (GST) framework, companies can set off costs incurred on raw materials or input services against future tax liabilities. However, it denies this benefit on goods distributed as gifts or given free.The Gujarat High Court on Wednesday issued notices to the government and tax department on the companies’ petition challenging the denial.“The restriction of input tax credit on goods written off or disposed of by way of gift or free samples is against the main objective of GST that there should not be any tax cascading and hence such a restriction will have…

ByRakesh Chitkara, AdvocateSonu of SonuMonu Telecom sent to Tihar Jail in a case booked by Delhi North Commissionerate headed by Ms. Hemambika Priya, CC, tax evasion of Rs 125 crores involving cash transactions amounting to Rs 1040 crores in sale, purchase and export of mobile phones.Evidences show that whenever the company had to supply mobile phones to anybuyer with GST invoices, theywould procure good-less invoices from non-existing/bogus firms. This modus-operandi enabled them to take fraudulent ITC credit of Rs 5.75 crores use the same for selectively discharging their tax liability.Records shaowthat the company has paid a mere Rs 11 lacs of taxes in cash over two years of its existence. The Director of M/s SonuMonu Telecom Pvt. Ltd., Sh. Jitendra Garg alias Monu, was arrested on 20.02.2020 and has been sent to judicial custody till 25.02.2020.Further investigations in the said case are in progress.The post Phone seller caught in phony invoice net ‘By Rakesh Chitkara’ appeared fi…

The Mumbai Fire Brigade department is likely to submit the report on GST Bhavan fire on Monday. As of now fire brigade department has received departmental inquiry reports from the Brihanmumbai Electric Supply and Transport (BEST) and Public Works Department (PWD) on possibilities behind the fire.After compiling all these details final report is likely to be ready on Monday. Action will be taken as per recommendation given in report, said fire brigade official.A senior fire brigade official said, “We have almost completed our inquiry. As per our report short circuit in electrical wires seem to be a reason behind fire incident.”Fire brigade almost took more than three hours to douse the fire, fortunately there were also no casualties.Source- Hindustan Times.The post Report on GST Bhavan blaze likely on Monday appeared first on GST Station.

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Some states are threatening to move the Supreme Court against the Centre’s decisionThe Centre will use about Rs 28,000 crore of the Rs 47,271 crore absorbed by the Consolidated Fund of India in FY18-FY19 period as ‘surplus’ revenue from the GST compensation cess to reduce the state governments’ GST revenue shortfall in FY20. Even after this, the states’ GST revenue (SGST) in FY20 will be some Rs 28,000 crore short of the level they would have achieved under the 14% ‘guaranteed’ annual growth formula.
Some Rs 20,000 crore of the surplus that merged with the CFI was used to bridge states’ shortfall in the final months of FY19.Given the wide gap between the GST compensation fund and the funds required to compensate the states’ GST revenue shortfall, there has been considerable friction between the Centre and state governments in recent months. While states wanted the Centre to meet its ‘constitutional obligation’, the Centre remained ambivalent on how the issue would be tackled. Clarity …

Seeks to amend notification No. 1/2017- Central Tax (Rate) dated 28.06.2017 so as to notify rate of GST on supply of lottery. Government Of India Ministry Of Finance (Department of Revenue) Notification No. 1/2020-Central Tax (Rate) New Delhi, the 21st February, 2020 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section […]

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Seeks to amend notification No. 1/2017- Integrated Tax (Rate) dated 28.06.2017 so as to notify rate of GST on supply of lottery. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 1/2020-Integrated Tax (Rate) New Delhi, the 21st February, 2020 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section […]

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Seeks to amend notification No. 1/2017- Union Territory Tax (Rate) dated 28.06.2017 so as to notify rate of GST on supply of lottery GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 1/2020- Union territory Tax (Rate) New Delhi, the 21st February, 2020 G.S.R. (E).- In exercise of the powers conferred by sub-section […]

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In this presentation, you will find latest amendments in the GST Law. 7th February 2020 The due date to submit TRAN-01 for carrying forward the transitional credit is extended to 31st March 2020 for those taxpayers who could not file earlier due to technical glitches. 3rd February 2020 The filing of return in GSTR-3B for […]

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SURAT: Directorate General of GST Intelligence (DGGI) has unearthed GST tax evasion to the tune of Rs 15.5 crore by manufacturers and suppliers of packaged snacks during simultaneous search operations carried out in Surat, Vadodara, Bharuch and Surendranagar on Thursday.DGGI’s Surat zonal unit had received intelligence about various firms engaged in the manufacturing and selling of packaged snacks for huge evasion of GST. Search operations were carried out in Surat, Bharuch, Vadodara and Surendranagar by DGGI sleuths, an official release said.Preliminary scrutiny of documents revealed that the firms were miss-classifying their products under harmonized system nomenclature (HSN) code to evade GST payment. The unfried fryum and papad products supplied by the firms are taxable at the rate of 12% under GST. However, these firms were not paying applicable tax thereby evading GST to the tune of Rs 15.5 crore.A DGGI officer said the firms have admitted about misclassification of the items an…

In order to meet the tax collection target, GST officers are sending demand notices to firms for as low as Rs 2, according to a Business Standard report.The move comes on the back of directions made by the Central Board of Indirect Taxes and Customs (CBIC) to recover goods and services tax (GST) interest, totaling Rs 46,000 crore, the report said.A firm has also received a notice for paying Rs zero, which is the approximate figure for its interest accountabilities.These notices have been sent to firms who have filed GSTR-3B return for the period after due dates in which paid interest liability has not been calculated under Section 50 of CGST Act, 2017.These notices may frighten payers and ease of doing business is likely to suffer, tax experts were quoted as saying in report.According to the GST rules, GSTR-3B is a monthly self-declaration to be filed by a registered GST dealer along with GSTR-1 and GSTR-2 return forms. The due date for submission of GSTR-3B every month is the 20th of…

However, there is no clarity on their eligibility for input tax credit on pre-GST duesTelecom companies, which are already sailing in troubled waters, may face another jolt in the form of tax obligation on adjusted gross revenue (AGR) dues. Reports suggest that the telecom companies have received notices from the tax department for the payment of service tax and GST on their AGR dues.Both the GST and the prior law appear to be clear about the fact that companies are liable to pay taxes on spectrum/licence fees payable by them.However, it is not clear whether these companies will be eligible to take input tax credit (ITC) under the GST regime, of the service tax liability on AGR dues under the previous regime.Tax obligationBoth the GST now, and the earlier tax regime (April 1, 2016 to July 1, 2017), state that companies receiving services from the government are liable to pay taxes under the reverse charge mechanism. Under this, the service receiver is liable to pay taxes; generally, i…