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Posted Date : 23-Nov-2023 , 07:09:48 am | Posted By CASANSAAR
GST authorities may take some time to introduce faceless scrutiny assessment of tax returns filed under Goods and Services Tax (GST), a senior official said on Wednesday. The faceless assessment — under which there is no physical interaction between the tax officer and the assessee and no phys...
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Posted Date : 23-Nov-2023 , 07:06:55 am | Posted By CASANSAAR
Zomato and Swiggy, the country's top two food delivery aggregators, have reportedly come under the scrutiny of tax authorities, with notices of a combined value of ?750 crore sent to them, a report said on November 22. Zomato, which has the biggest share in India's online food delivery ma...
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Posted Date : 22-Nov-2023 , 08:00:50 am | Posted By CASANSAAR
The government plans to amend the CGST Act in the winter session of Parliament that will allow advocates with experience in litigation to be appointed as judicial members in GST appellate tribunal benches. Finance ministry officials said the amendments would increase the maximum age of the presid...
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Posted Date : 16-Nov-2023 , 07:44:11 am | Posted By CASANSAAR
The Economic Offences Wing's (EOW) investigation into the alleged fraud at payments firm BharatPe has found a host of unexplained payments made to allegedly fake human resource consultancies by co-founder Ashneer Grover, his wife and the company's former head of controls Madhuri Jain Grover ...
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Posted Date : 16-Nov-2023 , 07:36:32 am | Posted By CASANSAAR
Difference in Input Tax Credit (ITC) available in GSTR-2B & ITC claimed in the GSTR-R3B Dear Taxpayers, 1. It is informed that GSTN has developed a functionality to generate automated intimation in Form GST DRC-01C which enables the taxpayer to explain the difference in Input tax credi...
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Posted Date : 10-Nov-2023 , 09:02:59 am | Posted By CASANSAAR
Over 100,000 small and medium-sized businesses are non-compliant with e-invoicing norms under the goods and services tax (GST) regime, a mandatory requirement for businesses with an annual turnover of over Rs 5 crore. E-invoicing provides real-time access to invoices that are prepared by the supp...
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Posted Date : 07-Nov-2023 , 09:04:29 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) has clarified that when electricity charges are bundled with renting of immovable property and/or maintenance of premises, it will be considered a composite supply and subject to Goods and Services Tax (GST) at 18%. This is applicable even if th...
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Posted Date : 04-Nov-2023 , 10:25:05 am | Posted By CASANSAAR
The finance ministry has come out with an amnesty scheme for filing appeals against Goods and Services Tax (GST) demand orders. The scheme, which will be open till January 31, 2024, will be available for entities that were unable to submit their appeals against orders issued by the tax officer on...
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Posted Date : 01-Nov-2023 , 08:13:06 pm | Posted By CASANSAAR
The gross GST revenue collected in the month of October, 2023 is ? 1,72,003 crore out of which ? 30,062 crore is CGST, ? 38,171 crore is SGST, ? 91,315 crore (including ? 42,127 crore collected on import of goods) is IGST and ? 12,456 crore (includin...
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Posted Date : 31-Oct-2023 , 07:23:58 am | Posted By CASANSAAR
Remuneration or consideration received, directly/indirectly by a serving or separated director, for providing corporate guarantee will be treated as taxable value for GST, the Central Board of Indirect Taxes & Customs (CBIC) has said. This is part of a clarificatory circular, sent by CBIC to its...
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Posted Date : 30-Oct-2023 , 08:13:49 am | Posted By CASANSAAR
"Notification 51/2023 dated 29.09.2023 has introduced Table 5B in GSTR 5A w. e. f 01.10.2023. In this notification, Table 5B has been introduced to report supplies made to Registered GSTINs (B2B supplies). This would be implemented shortly at GSTN and till such time, OIDARs are advised to file ...
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Posted Date : 28-Oct-2023 , 08:07:06 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) has said that Goods and Services Tax (GST) will apply to corporate guarantees between related entities such as parent firms and subsidiaries from Thursday, 26 October. The order gives effect to the decision announced by the GST Council on 8 Octo...
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Posted Date : 20-Oct-2023 , 09:51:33 am | Posted By CASANSAAR
The Directorate General of GST Intelligence (DGGI) has detected GST evasion of Rs 1.36 lakh crore so far during the current financial year involving “voluntary payment” of Rs 14,108 crores. The investigation agency under Goods and Services Tax (GST) regime has been working on identifying...
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Posted Date : 13-Oct-2023 , 12:11:50 pm | Posted By CASANSAAR
The Supreme Court has held that restaurants are not subject to service tax for take away food orders and sharing premises with an associated enterprise. While considering a civil appeal, the Supreme Court upheld the ruling of the Customs Excise Service Tax Appellate Tribunal (CESTAT) and dismissed t...
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Posted Date : 13-Oct-2023 , 11:56:37 am | Posted By CASANSAAR
GSTN has also provided APIs for ECOs (through whom unregistered persons can supply goods) to integrate with GSTN to obtain the details and facilitate the unregistered suppliers. The APIs are for validating the demographic details of the said suppliers and also for use in tracking and repor...
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Posted Date : 13-Oct-2023 , 11:55:29 am | Posted By CASANSAAR
1.In terms of the recent amendments to the Act and the rules and notification number 34/2023 dated 31.07.2023, persons supplying goods through e-commerce operators shall be exempt from mandatory registration under the CGST Act even if they supply goods through e-commerce operators (ECO) if...
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Posted Date : 20-Sep-2023 , 07:36:52 am | Posted By CASANSAAR
Dear Taxpayers, 1.GSTN is pleased to inform that the geocoding functionality for the "Additional Place of Business" address is now active across all States and Union Territories. This builds upon the geocoding functionality earlier implemented for the principal place of busine...
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Posted Date : 16-Sep-2023 , 03:35:19 pm | Posted By CASANSAAR
Dear Taxpayers, 1.It is to inform you that it has been decided by the Government to impose a time limit on reporting old invoices on the e-invoice IRP portals for taxpayers with AATO greater than 100 crores. 2.To ensure timely compliance, taxpayers in this category will n...
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Posted Date : 16-Sep-2023 , 10:07:29 am | Posted By CASANSAAR
The Finance Ministry notified the constitution of 31 Appellate Tribunals across 28 States and eight Union Territories for the Goods and Services Tax (GST) late on Thursday night, setting the stage to resolve a growing number of taxpayer disputes with the Revenue Department. The establishment of t...
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Posted Date : 12-Sep-2023 , 08:36:21 am | Posted By CASANSAAR
Court rules the items cannot be confiscated without investigation even if the original supplier does not have GST registration. The case relates to a trader who bought iron scrap from a company in Vijayawada. The Andhra Pradesh High Court has ruled that the goods and services tax (GST) authoritie...
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Posted Date : 07-Sep-2023 , 08:43:17 am | Posted By CASANSAAR
The government on September 1 notified amendments to GST law in relation to the valuation methodology to be adopted by online gaming companies and casinos for calculating tax. The Ministry of Finance notified amendments to Central GST law for calculating value of supply in case of online gaming a...
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Posted Date : 02-Sep-2023 , 07:21:42 am | Posted By CASANSAAR
The gross GST revenue collected in August is 1,59,069 crore rupees. This includes CGST of 28,328 crores, SGST of 35,794 crores, and IGST of 83,251 crores. The government has settled 37,581 crores to CGST and 31,408 crores to SGST from IGST. The total revenue of Centre and the States in Augu...
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Posted Date : 22-Aug-2023 , 08:29:47 am | Posted By CASANSAAR
In a move that is likely to help firms struggling with GST notices from different states, the Central Board of Indirect Taxes and Customs has started designating a single common authority to deal with similar matters of an assesses who has different GST numbers across the country. The CBIC ...
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Posted Date : 19-Aug-2023 , 08:01:59 am | Posted By CASANSAAR
The CBI has arrested a CGST official in Mumbai for allegedly demanding Rs 30 lakh as bribe for settling tax issues related to a company based in China, officials said on Friday. Hemant Kumar, the Central Goods and Services Tax (CGST) superintendent, posted at Bhiwandi Commissionerate demanded Rs 30 ...
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Posted Date : 12-Aug-2023 , 08:24:24 am | Posted By CASANSAAR
Parliament on Friday approved amendments to the Central and Integrated GST laws to levy 28 per cent tax on the full face value of bets in online gaming, casinos and horse race clubs. The Central GST (Amendment) Bill, 2023, and the Integrated GST (Amendment) Bill, 2023, piloted by Finance Minister...
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Posted Date : 03-Aug-2023 , 08:42:50 am | Posted By CASANSAAR
GST Council recommends certain amendments in CGST Act 2017 and IGST Act 2017, including amendment in Schedule III of CGST Act, 2017, to provide clarity on taxation of supplies in casinos, horse racing and online gaming GST Council also recommends inserting a specific provision in IGST Act, 2017 t...
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Posted Date : 30-Jul-2023 , 08:53:50 am | Posted By CASANSAAR
Students will have to shell out more for hostel accommodation as a 12 per cent GST would be applicable on the rent paid, the Authority of Advance Ruling said in two separate cases. The Bengaluru bench of the Authority of Advance Ruling (AAR) said hostels are not akin to residential dwelling units...
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Posted Date : 29-Jul-2023 , 07:19:03 am | Posted By CASANSAAR
Starting August 1, businesses with aggregate turnover of Rs 5 crore or more will have to mandatorily opt for e-invoicing under the Goods and Services Tax (GST). “GST taxpayers whose aggregate turnover exceeds Rs 5 crore in any financial year ... Generating e-invoices for both supply o...
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Posted Date : 28-Jul-2023 , 07:22:10 am | Posted By CASANSAAR
The Union government will set up an online audit mechanism under the Goods and Services Tax (GST) in order to streamline the process, as suggested by a parliamentary panel in its report on ‘anti-competitive practices by the big tech companies’. “The ministry has accepted the rec...
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Posted Date : 26-Jul-2023 , 06:54:32 am | Posted By CASANSAAR
Even as tax authorities plan to plug loopholes to tighten compliance for goods and services tax (GST), they have already identified nearly 15,000 entities and have detected evasion of more than Rs 38,000 crore over the years. This includes fraudulent cases of GST registration by misusing PAN and Aad...
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- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
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