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  • Number of cases of Tax Evasion reported Post GST regime
    Posted Date : 01-Aug-2018 , 08:56:56 am | Posted By CASANSAAR

      The number of cases of Tax Evasion reported post-GST regime are given in Table below:           Period Detection     ...

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  • Draft format of the New GST Return
    Posted Date : 30-Jul-2018 , 08:44:55 pm | Posted By CASANSAAR

    GST Council in its 27th meeting held on 4thMay, 2018 had approved the basic principles of GST return design. Now in its 28th meeting held on 21st July, 2018, GST Council approved the key features and new format of the GST returns. This brief note lists the salient features of the new return format a...

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  • Draft GST return forms to be released for public comments by Monday
    Posted Date : 27-Jul-2018 , 09:06:37 am | Posted By CASANSAAR

    The drafts of new forms for filing GST return will be put in public domain by early next week for stakeholder consultation, a revenue official said today.  GST Commissioner Upender Gupta said in the new return filing system 'nil' filers, who don't have purchase or supplies in a q...

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  • National Anti-Profiteering Authority to Audit e-commerce companies
    Posted Date : 24-Jul-2018 , 08:14:10 am | Posted By CASANSAAR

    Even before the GST came into effect on July 1, one of the stated objectives of the Central government was to eliminate multiple taxes and passes down the benefit to end consumers with a reduction in the prices of goods and services. In an attempt to further reduce the burden of tax on end consum...

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  • Changes / Exemptions in GST Rates on Services
    Posted Date : 21-Jul-2018 , 04:53:54 pm | Posted By CASANSAAR

    The GST Council in its 28th meeting held here today under the Chairmanship of Shri Piyush Goyal , Union Minister for Railways , Coal , Finance & Corporate Affairs  took following decisions relating to exemptions / changes in GST rates / ITC eligibility criteria, rationalization of rate...

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  • Recommendations made during the 28th GST Council Meeting held on 21st July 2018
    Posted Date : 21-Jul-2018 , 04:46:08 pm | Posted By CASANSAAR

    The GST Council in its 28thmeeting held here today has recommended certain amendments in the CGST Act, IGST Act, UTGST Act and the GST (Compensation to States) Act. 2.         The major recommendations are as detailed below:   Upper limit of t...

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  • GST Council recommends GST rates reduction on several goods & for specified handicraft items
    Posted Date : 21-Jul-2018 , 10:00:52 pm | Posted By CASANSAAR

      The GST Council in its 28th meeting held here today under the Chairmanship of Shri Piyush Goyal , Union Minister for Railways , Coal , Finance & Corporate Affairs  took following decisions on GST Rate on Goods . GST rates reduction on 28% items: 28% to 18% ...

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  • GST council approves Simplified GST Return
    Posted Date : 21-Jul-2018 , 04:16:15 pm | Posted By CASANSAAR

    The GST Council in its 28th meeting held here today under the Chairmanship of Shri PiyushGoyal , Union Minister for Railways , Coal , Finance & Corporate Affairs has approved the new return formats and associated changes in law. It may be recalled that in the 27thmeeting held on 4thof May, ...

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  • Recommendations on opening of migration window for tax payers till 31st August ,2018
    Posted Date : 21-Jul-2018 , 04:14:43 pm | Posted By CASANSAAR

    The GST Council in its 28th meeting held here today  has approvedthe proposal to open the migration window for taxpayers, who received provisional IDs but could not complete the migration process. The taxpayers who filedPart A of FORM GST REG-26, but not Part B of ...

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  • Govt slashes GST rate on several products
    Posted Date : 21-Jul-2018 , 09:29:42 pm | Posted By CASANSAAR

    Conceding a year long demand, sanitary pads today exempted from GST as the GST Council reduced tax rates on an array of daily use appliances and products. While GST tax on sanitary pads was cut from 12 per cent to zero, rakhis were exempted from the tax, Finance Minister Piyush Goyal told reporte...

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  • National GST appellate tribunal on anvil, Council to decide on July 21
    Posted Date : 20-Jul-2018 , 08:48:31 am | Posted By CASANSAAR

    The GST Council will consider setting up of a National Appellate Tribunal in Delhi with three regional benches with members from judiciary as well as tax departments to hear appeals against the order of the appellate authority set up by states under the GST regime.  According to the proposal...

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  • Grievance Redressal Officers for processing the complaints/information under e-way Bill System
    Posted Date : 18-Jul-2018 , 05:17:57 pm | Posted By CASANSAAR

    As per the decision of the GST Council, e-way bill system has been rolled-out in a staggered manner across the country. E-way bills are getting generated successfully and till 17th July, 2018, more than Thirteen Crore and Fifty Lakh e-way bills have been generated which includes Six Crore ...

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  • CBIC to observe Third Refund Fortnight to clear pending GST refunds
    Posted Date : 17-Jul-2018 , 08:57:28 am | Posted By CASANSAAR

    Refunds of GST have been a concern for the Government and Trade for the past several months.  In this regard, the CBIC has observed two special drives cum refund fortnights in the Month of March, 2018 (15th to 31st March, 2018) and June, 2018 (31st May to 16th June, 2018) respectively. These re...

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  • Infosys to create new single page GST Return form
    Posted Date : 16-Jul-2018 , 08:56:56 am | Posted By CASANSAAR

    The GSTN Group of Ministers (GoM) has asked Infosys to create a new tax return filing form in an effort to simplify I-T returns for businesses. Addressing newspersons at the ninth GSTN GoM meeting, Bihar Deputy Chief Minister Sushil Kumar Modi said taxpayers who file 37 returns a year will file j...

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  • No GST on foreign companies' payments to liaison offices for expenses - AAR
    Posted Date : 14-Jul-2018 , 08:13:46 am | Posted By CASANSAAR

    Foreign companies having liaison offices in India will not have to cough up goods and services(GST) on reimbursements of charges or expenses. A ruling by the Rajasthan Authority for Advance Rulings (AAR) has held that payment of salaries of employees and other working expenses are not services and n...

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  • GST Council to discuss ease of filing returns, rate reduction on July 21
    Posted Date : 12-Jul-2018 , 10:21:02 pm | Posted By CASANSAAR

    The GST Council will discuss ease of filing returns, ease of assessment and may also consider further rationalisation of tax rates in its upcoming meeting on July 21, Finance Minister Piyush Goyal said on Thursday. He said the Goods and Services Tax (GST) Council had been responsive to industry d...

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  • GST Council unveils draft of changes proposed to GST law
    Posted Date : 11-Jul-2018 , 07:57:08 am | Posted By CASANSAAR

    India has proposed a slew of changes to the year-old goods and services tax law, including an amendment to deny credit in lieu of accumulated balances of education cess, secondary and higher education cess, Krishi Kalyan cess, and additional excise duties levied on textile and textile articles.&nbsp...

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  • GST Council next meeting scheduled on July 21
    Posted Date : 10-Jul-2018 , 07:29:44 am | Posted By CASANSAAR

    The next meeting of Goods and Services Tax (GST) Council scheduled on July 21 is likely to endorse 3 per cent cess on sugar. In its last meet on June 4, the Council had constituted a Group of Ministers (GOM) and authorised it to take a final call on the matter.  The new sugar cess will be ov...

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  • Scrap reverse charge, defer sops for digital payments - GST GoMs
    Posted Date : 09-Jul-2018 , 07:59:26 am | Posted By CASANSAAR

    A group of ministers (GoM) led by Bihar deputy chief minister Sushil Modi on Sunday decided to recommend to the GST council that a section in the GST Act concerning the reverse charge mechanism (RCM) be scrapped as “it discriminates against unregistered dealers while not adding much to the rev...

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  • Non-tariff charges in electricity bill to attract GST
    Posted Date : 06-Jul-2018 , 08:01:43 am | Posted By CASANSAAR

    Electricity bills can have a goods and services tax (GST) component at times. Non-tariff charges, which include application fee for releasing connection, rentals charged against metering equipment and labour charges for shifting of meters and service lines, are liable to taxed at 18% under the GST. ...

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  • Govt likely to go slow on key anti-evasion measure under GST
    Posted Date : 03-Jul-2018 , 08:35:33 am | Posted By CASANSAAR

    The government is unlikely to insist on implementing the reverse charge mechanism, a key anti-evasion measure proposed under the goods and services tax (GST), on concerns that the rule will adversely impact small businesses while not yielding revenue gains. The implementation of the reverse charg...

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  • Government celebrates First GST Day
    Posted Date : 01-Jul-2018 , 09:28:17 pm | Posted By CASANSAAR

    Government of India celebrated the 1st GST Day here today. The event saw an address on the eventful 1styear journey of GST over a live video link by Union Minister, Shri Arun Jaitley. Union Minister for Railways, Coal, Finance & Corporate Affairs, Shri Piyush Goyal presided over as the Chie...

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  • GSTN to go in for third-party audit of its software - CEO
    Posted Date : 28-Jun-2018 , 08:11:36 am | Posted By CASANSAAR

    GST Network has decided to go in for third-party audit of its software developed by Infosys to ensure that all changes in law are adequately captured and its performance is not lagging on any count, a senior official said. GSTN operates the IT backbone for collection of Goods and Services Tax (GS...

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  • Rs 2,000 crore GST evasion unearthed in 2 months
    Posted Date : 27-Jun-2018 , 08:12:38 pm | Posted By CASANSAAR

    The GST investigation wing has detected tax evasion of over Rs 2,000 crore in two months, and data analysis reveals that only 1 per cent of over 1.11 crore registered businesses pay 80 per cent of the taxes, a senior official said today.  CBIC member John Joseph said alike small businesses w...

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  • GST provisions on TDS/TCS, reverse charge mechanism deferred by 3 months
    Posted Date : 26-Jun-2018 , 09:24:27 pm | Posted By CASANSAAR

    The revenue department has decided to keep in abeyance GST provisions relating to reverse charge mechanism, tax deducted at source (TDS) and tax collected at source (TCS) for another three months till September-end.  The GST Council in its meeting on March 10 had suspended the provision for ...

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  • GST notices to Cos for passing off cash balance as transition credit
    Posted Date : 26-Jun-2018 , 08:58:26 am | Posted By CASANSAAR

    The indirect tax department has issued notices to companies that added cash balance lying in their personal ledger account (PLA) to the transitional credit when the tax system moved to Goods and Services Tax (GST), triggering panic among such companies.  PLA is a cash ledger account with the...

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  • GST example of cooperative federalism - PM Modi
    Posted Date : 24-Jun-2018 , 10:59:56 pm | Posted By CASANSAAR

    Prime Minister Narendra Modi today said, Goods and Services Tax, GST is a great example of cooperative federalism, where all the States decided to take a unanimous decision in the interest of the nation.  He informed that it is a matter of pride that all the decisions taken in the 27 meeting...

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  • GSTN designing tools for taxmen to analyse data to check evasion
    Posted Date : 24-Jun-2018 , 10:57:35 pm | Posted By CASANSAAR

    Almost a year into providing platform for tax collection, GST Network is now developing applications and tools for tax officers to help analyse data of their assessees and check possible evasion, a senior official said.  GST Network (GSTN), the company handling the technology backbone for Go...

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  • GST increased illegal activities 4-5 times in terms of Billing
    Posted Date : 21-Jun-2018 , 10:31:59 am | Posted By CASANSAAR

    The goods and services tax (GST) introduced to track the trail of transaction has in fact increased illegal activities in terms of billing by multiple times. ‘Bill selling’, a practice common in the construction sector among those who inflate cost of projects, has gone up four-five times...

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  • Govt clears Rs. 38,062 Cr in GST refunds
    Posted Date : 21-Jun-2018 , 10:29:33 am | Posted By CASANSAAR

    The government has cleared pending GST refunds to the tune of Rs.38,062 crore to exporters so far, the Central Board of Indirect Taxes and Customs said on Wednesday. “In all, Rs.21,142 crore (IGST refunds), Rs.9,923 crore (RFD-01A refund by CBIC) and Rs.6,997 crore (RFD-01A refund by states...

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