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  • GST leads to Formalization of Economy and Widening of Tax Base
    Posted Date : 18-Jun-2018 , 03:27:49 pm | Posted By CASANSAAR

    Historic tax reform, the Goods and Service Tax (GST), has resulted in formalization of economy and consequently information flow would eventually augment not only the Indirect Tax collections but also Direct Tax collections. In the past, the Centre had little data on small manufacturers and consumpt...

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  • GST collection soars 150%, revenue gap dips by half
    Posted Date : 18-Jun-2018 , 12:42:31 pm | Posted By CASANSAAR

    UP has been registering a steady growth in GST collections, and the rise has been to such an extent that the compensation paid by Centre to the states for revenue loss due to GST implementation has come down from 27% in September 2017 to nil for the months of April and May, 2018 in UP's case. UP...

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  • Delhi raises GST e-way bill threshold limit
    Posted Date : 16-Jun-2018 , 07:24:21 pm | Posted By CASANSAAR

    After West Bengal and Tamil Nadu, Delhi has become the third state to double the threshold for electronic-way (e-way) bill for intra-state movement of goods to Rs 1 lakh of the cargo value. Experts said the move poses a threat to seamless implementation of a unified, pan-India GST. States are leg...

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  • Funds collected under GST anti-profiteering rules to be split between Centre, state
    Posted Date : 16-Jun-2018 , 12:00:10 pm | Posted By CASANSAAR

    Centre and the 'concerned state' will equally share the amount deposited by erring businesses in the consumer welfare fund set up as part of the GST anti-profiteering rules, as per a FinanceNSE -0.08 % Ministry notification.  Following the rollout of GST in July last year, the govern...

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  • Government extends sale of pre-GST goods with stickers of revised price till July 31
    Posted Date : 15-Jun-2018 , 12:14:56 pm | Posted By CASANSAAR

    Sale of pre-GST packaged goods has now been allowed with stickers of revised rates till July 31, the government today said.  After implementing GST from July 1, 2017, the government had allowed use of stickers with revised rates, alongside the printed MRP for pre-packaged items to reflect ch...

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  • Change of email and mobile number of the authorized signatory under GST system
    Posted Date : 14-Jun-2018 , 10:24:20 pm | Posted By CASANSAAR

    Complaints are being received from taxpayers that the intermediaries who were authorized by them to apply for registration on their behalf had used their own email and mobile number during the process. They are now not sharing the user credentials with the taxpayer on whose behalf they had done the ...

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  • Extension of Special GST Refund Fortnight till 16.6.2018
    Posted Date : 13-Jun-2018 , 11:11:15 am | Posted By CASANSAAR

    The Government has launched the second “Special Drive Refund Fortnight ”from 31.5.2018 to 14.6.2018. During the first Refund Fortnight from 15th to 29th March an amount of Rs.5350 crore was sanctioned and during this fortnight over Rs 7500 crore has been sanctioned. In view of overwhelmi...

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  • Authority's orders favour firms for anti-profiteering in times of GST
    Posted Date : 12-Jun-2018 , 10:10:28 am | Posted By CASANSAAR

    Allaying industry’s apprehensions, all three orders passed by the National Anti-Profiteering Authority under the goods and services tax (GST) regime have so far gone in favour of companies. In its latest order, the five member NAA has dismissed complaint against elevator manufacturer Schind...

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  • GST refund to foreign tourists at airports on the cards
    Posted Date : 11-Jun-2018 , 08:36:26 am | Posted By CASANSAAR

    Foreign tourists may soon get to claim GST refunds at airports at the time of exit as the revenue department is working on a mechanism to refund taxes paid by them on local purchases. Initially, only purchases made by tourists from big retailers would be eligible for Goods and Services Tax (GST) ...

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  • CBIC introduces PAN-based refund clearances of exporters
    Posted Date : 07-Jun-2018 , 07:38:17 pm | Posted By CASANSAAR

    The CBIC has allowed clearance of GST refunds based on PAN of exporters if such refunds are held up due to mismatch in GSTIN mentioned in shipping bill and return forms. As much as Rs 14,000 crore worth of refunds due to exporters are stuck because of various reasons and the Central Board of Indi...

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  • GST likely to get centralised AAR for uniform rulings
    Posted Date : 05-Jun-2018 , 10:11:26 am | Posted By CASANSAAR

    India is looking at creating a centralised Authority for Advance Rulings (AAR) for the goods and services tax (GST) after divergent rulings on identical issues fuelled confusion over applicability and the rate of tax. A recent case in point being the divergent rulings by Karnataka and Maharashtra AA...

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  • Govt clarifies GST applicability on financial services
    Posted Date : 04-Jun-2018 , 08:34:32 am | Posted By CASANSAAR

    Goods and services tax applies to exit loads charged by mutual funds, additional interest charged for default in payment of loan instalments and late payment charges levied by credit card companies, the government has said.  Securitisation, future contracts, derivatives and forward contracts...

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  • International passengers need not pay GST at airport Duty Free shops
    Posted Date : 03-Jun-2018 , 08:01:48 pm | Posted By CASANSAAR

    International passengers buying goods at airport 'duty-free' shops will not be subject to GST and the revenue department will soon clarify on this exemption, an official said. Following an order passed in March by the New Delhi bench of the Authority for Advance Ruling (AAR) stating that ...

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  • Rs 94,016 Cr of total gross GST revenue collected in May 2018
    Posted Date : 01-Jun-2018 , 07:54:28 pm | Posted By CASANSAAR

    The total gross GST revenue collected in the month of May2018 is Rs.  94,016 crore of which CGST is Rs.15,866 crore, SGST is Rs.21,691 crore, IGST is Rs. 49,120crore (including Rs. 24,447 crore collected on imports) and Cess is Rs. 7,339 crore (including Rs.854 crore collected on imports).The t...

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  • Roll out of e-Way Bill system for intra-State movement of goods in 8 States
    Posted Date : 01-Jun-2018 , 07:31:12 am | Posted By CASANSAAR

    As per the decision of the GST Council, e-Way Bill system for inter-State movement of goods has been rolled out from 01st April, 2018. As on 30th May, 2018, e-Way Bill system for intra-State movement of goods has been rolled out in the States of Andhra Pradesh, Arunachal Pradesh, Assam, Bi...

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  • FORM GSTR-6 due date extended till 31.07.2018
    Posted Date : 01-Jun-2018 , 07:26:15 am | Posted By CASANSAAR

    The last date for filing of return in FORM GSTR-6 by Input Service Distributors for the months from July, 2017 to June, 2018 is being extended till 31.07.2018.     GST@GoI‏Verified account @askGST_GoI 14h14 hours ago More The last date for filing ...

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  • Special GST Refund Fortnight from 31.05.2018 to 14.06.2018
    Posted Date : 30-May-2018 , 09:50:35 am | Posted By CASANSAAR

    Refunds of GST have been a concern for both the Government and Trade for the past several months. Till now, the Government has sanctioned more than Rs 30,000 crore as GST Refund. This includes an amount of Rs 16,000 crore of IGST and Rs 14,000 crore of ITC. The figures of ITC include sanction by bot...

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  • Exporters GST refund: Second phase of fast track clearance drive from Thursday
    Posted Date : 30-May-2018 , 10:37:59 am | Posted By CASANSAAR

    With an estimated Rs 20,000 crore exporters' refund still stuck, the government will launch the second phase of refund fortnight beginning May 31 to fast-track clearances.  "Special Refund Fortnight" to be organised from May 31 to June 14 in which Center and state GST officers ...

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  • Sale of GOING CONCERN exempt from GST- AAR
    Posted Date : 28-May-2018 , 09:17:11 pm | Posted By CASANSAAR

    Sale of a going concern by a business house will not attract Goods and Services Tax (GST), as per an order by the Authority for Advance Ruling (AAR). The Karnataka bench of the AAR gave its ruling based on an application filed by Rajashri Foods Pvt Ltd which wanted to sell one of its units along wit...

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  • No change in the GST law and taxation relating to farmers since July, 2017
    Posted Date : 28-May-2018 , 08:33:46 pm | Posted By CASANSAAR

    No change in the GST law and taxation relating to farmers since July, 2017; Support Services to agriculture, forestry, fishing or animal husbandry are exempt from GST; Agriculturists are also exempted from taking GST Registration. It has been reported in certain section of the Press that certain ...

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  • GST levied only on final clearance of goods from warehouse - CBIC
    Posted Date : 27-May-2018 , 01:01:11 pm | Posted By CASANSAAR

    The Central Board of Indirect Taxes and Customs (CBIC) has asked its field offices to levy GST on goods in customs warehouse only at the time of final clearance. The move is aimed at ensuring ease of doing business for importers, experts said. In a circular to principal chief commissioners and...

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  • Roll out of e-Way Bill system for intra-State movement of goods in the Maharashtra, Manipur and Union Territories
    Posted Date : 24-May-2018 , 07:56:53 pm | Posted By CASANSAAR

    As per the decision of the GST Council, e-Way Bill system for inter-State movement of goods has been rolled out from 1st April, 2018. As on 23rd May, 2018, e-Way Bill system for intra-State movement of goods has been rolled out in the States of Andhra Pradesh, Arunachal Pradesh, Assam, Bihar, Gujara...

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  • Arrest made by Central Tax, Delhi East Commissionerate involving GST evasion of Rs. 28 Crore
    Posted Date : 24-May-2018 , 03:30:03 am | Posted By CASANSAAR

    Central Tax, GST Delhi East Commissionerate arrested a Shahdara based father son-duo on 22.05.2018 in case of fraudulent issuance of Input Tax Credit invoices involving evasion of approximately Rs. 28 Crores relating to Copper industry. It is the first case of arrest in Delhi, under the new tax regi...

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  • Two Held for Fraud Under GST Act in Delhi
    Posted Date : 24-May-2018 , 11:08:53 am | Posted By CASANSAAR

    Central Tax, GST Delhi East Commissionerate arrested a Shahdara based father son-duo on 22.05.2018 in case of fraudulent issuance of Input Tax Credit invoices involving evasion of approximately Rs. 28 Crores relating to Copper industry. It is the first case of arrest in Delhi, under the new tax regi...

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  • Canteen supplies provided by outside vendors to attract 18% GST - AAR
    Posted Date : 22-May-2018 , 08:40:34 am | Posted By CASANSAAR

    The Authority of Advanced Ruling (AAR) for the goods and services tax (GST) has ruled that firms supplying food and beverages to canteens of other organisations are ‘outdoor caterers’ and the service would attract an 18% GST. The ruling was delivered by Gujarat AAR on an application f...

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  • Damages paid for cancellation contract to attract 18% GST - AAR
    Posted Date : 22-May-2018 , 07:42:32 am | Posted By CASANSAAR

    The Authority for Advance Rulings (AAR) has ruled that payments in respect to nonperformance of a contract would be liable to goods and services tax (GST). This has made multinational companies, especially those executing infrastructure projects, and the mining sector jittery, and it could have impl...

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  • GST Council asks Centre, states to quickly set up appellate authorities
    Posted Date : 21-May-2018 , 09:10:45 am | Posted By CASANSAAR

    The GST Council has asked the Centre and states to expedite setting up of appellate authorities for aggrieved entities to appeal against orders of the Authority for Advance Rulings (AAR). With AARs in different states started giving rulings since March, it has become imperative for the Centre as ...

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  • Coaching centres for entrance exams liable to 18% GST - AAR
    Posted Date : 19-May-2018 , 11:12:18 am | Posted By CASANSAAR

    Coaching centres providing tuition to prepare students for entrance examination are liable to pay 18 percent GST, according to the Authority for Advance Rulings (AAR). An application was filed before the Maharashtra bench of the AAR to seek advance ruling on whether the services related to provid...

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  • GSTR-3B due date extended till 22nd May 2018
    Posted Date : 18-May-2018 , 11:24:09 am | Posted By CASANSAAR

    In the interest of taxpayers, it has been decided to extend the last date for filing of return in FORM GSTR-3B for the month of April, 2018 for two days, i.e., till 22nd May, 2018. The notification in this regard shall be published shortly. Earlier it was brought to the notice of the competent au...

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  • Free banking services out of GST Net - FinMin
    Posted Date : 16-May-2018 , 09:18:51 am | Posted By CASANSAAR

    Free banking services like cheque book issuance and ATM withdrawals are likely to remain out of the ambit of the Goods and Services Tax, a senior finance ministry official said. The Department of Financial Services had approached its revenue counterpart to clear the confusion over the levy of GST...

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