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Posted Date : 16-Jun-2022 , 08:59:15 am | Posted By CASANSAAR
The Central Board of Indirect Taxes & Customs (CBIC) has put out a procedure relating to sanction, post-audit and review of refund claims for taxpayers. This is following several reports CBIC received about different practices being followed by the field formations, creati...
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Posted Date : 02-Jun-2022 , 08:28:00 am | Posted By CASANSAAR
The Gross Goods and Services Tax, GST revenue collections in the month of May 2022 remained at one lakh 40 thousand and 885 crore rupees. This is the fourth time when the GST collection crossed 1.40 lakh crore mark since its inception and third month at a stretch since March 2022. ...
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Posted Date : 27-May-2022 , 11:05:03 am | Posted By CASANSAAR
Tax authorities will now face action if a taxpayer makes voluntary payment of tax during a search. In a move aimed at curbing instances of use of force or coercion, the Central Board of Indirect Taxes and Customs (CBIC) has directed its field formations that recovery of tax dues should be made follo...
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Posted Date : 18-May-2022 , 07:37:38 am | Posted By CASANSAAR
The due date of payment of tax for the month of April, 2022 by taxpayers under QRMP scheme in FORM GST PMT-06 has been extended till 27th May, 2022 (refer notification No. 06/2022-Central Tax dated 17.05.2022...
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Posted Date : 18-May-2022 , 07:31:38 am | Posted By CASANSAAR
The due date for filing FORM GSTR-3B for the month of April, 2022 has been extended till 24th May, 2022 (refer notification No. 05/2022-Central Tax dated 17.05.2022)...
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Posted Date : 02-May-2022 , 09:45:21 am | Posted By CASANSAAR
Goods and services tax (GST) collections hit an all-time high of ₹1.68 lakh crore in April, indicating strong economic activity despite multiple headwinds and better tax compliance. The April number is up 20% from the year earlier and ₹25,000 crore more than the previous highest of â‚...
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Posted Date : 15-Apr-2022 , 08:22:29 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) has proposed mandatory Goods and Service Tax (GST) scrutiny on a quarterly basis to enhance compliance through effective and standardised scrutiny of returns. "CBIC to soon introduce mandatory quarterly scrutiny of GST returns. Scrutin...
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Posted Date : 30-Mar-2022 , 08:01:57 am | Posted By CASANSAAR
Central Board of Indirect Taxes and Customs has said that businesses with turnover of over Rs 20 crore will have to generate electronic invoice for B2B transactions from April 1, 2022. Under Goods and Services Tax (GST) law, e-invoicing for business-to-business (B2B) transactions was made manda...
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Posted Date : 23-Mar-2022 , 08:39:04 am | Posted By CASANSAAR
The Central Board of Indirect Taxes & Customs (CBIC) on Tuesday issued scrutiny guidelines for GST, for the first two years of the new indirect tax regime, as part of a plan to plug leakages and shore up collections. The CBIC has shared an indicative list of parameters, which suggested that...
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Posted Date : 04-Mar-2022 , 09:32:34 am | Posted By CASANSAAR
CBIC cautioned the public against sharing Aadhaar and PAN details without a valid reason or for monetary gains, saying that the information could be misused by fraudsters for GST evasion. In a tweet, the Central Board of Indirect Taxes and Customs (CBIC) said Aadhaar and PAN details can be used...
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Posted Date : 04-Mar-2022 , 09:19:37 am | Posted By CASANSAAR
Generation of e-invoice is mandatory for certain class of taxpayers, as notified by the Government. These taxpayers are required to prepare & issue their e-invoices by reporting their invoice data in the prescribed format (e-invoice schema in FORM GST INV-01) and reporting the same on ...
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Posted Date : 01-Mar-2022 , 06:45:38 pm | Posted By CASANSAAR
Finance Ministry said that more than one lakh 33 thousand crore rupees Gross GST Revenue was collected during the month of February. It said that the collection of revenues for the month of February this year is 18 percent higher than the GST revenues in the same month last year and 26 perce...
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Posted Date : 25-Feb-2022 , 09:06:23 am | Posted By CASANSAAR
Central Goods and Services Tax (CGST) Commissionerate, Faridabad, of Panchkula CGST Zone, on 23.02.2022 arrested two persons for running a fake billing racket, involving five (5) dummy firms, dealing in trading of iron scrap, registered in Faridabad, Haryana, for issuance of fake invoices of over Rs...
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Posted Date : 25-Feb-2022 , 08:54:47 am | Posted By CASANSAAR
Central Goods and Services Tax, CGST Commissionerate, Delhi has unearthed fake invoicing racket of 611 crore rupees involving tax evasion of over 38 crore rupees. Finance Ministry said the officers of Delhi South CGST Commissionerate came to know about certain bogus firms created solely for the purp...
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Posted Date : 08-Feb-2022 , 09:27:48 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) is set to scale up scrutiny and departmental audits of risky taxpayers to improve goods and services tax (GST) collections while using data and technology to ensure that officials make decisions transparently, chairman Vivek Johri said in an int...
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Posted Date : 17-Jan-2022 , 09:53:31 am | Posted By CASANSAAR
The Bombay High Court has quashed an order by the GST authorities that had rejected the refund claim of an assessee because it was filed after two years, a time limit set by the rules. This was done since the authorities have not taken into cognizance the earlier Supreme Court verdict that excluded ...
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Posted Date : 15-Jan-2022 , 09:18:48 am | Posted By CASANSAAR
GST officers have arrested one person for operating a syndicate and issuing fake invoices of ₹ 4,521 crore for availing input tax credit (ITC) benefit under goods and services tax, an official statement said on Friday. It said scrutiny of tally data has shown that there are 636 firms being ...
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Posted Date : 02-Dec-2021 , 08:25:21 am | Posted By CASANSAAR
GST revenues for November this year have been the second highest ever since introduction of GST. The gross GST revenue collected in November this year is 1 lakh 31 thousand 526 crore rupees. For the second straight month Gross GST collection has crossed 1 lakh 30 thousand crore rupees. The revenues ...
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Posted Date : 01-Dec-2021 , 08:26:32 am | Posted By CASANSAAR
Amid a talent war among companies, the issue of high attrition rate has taken centre stage in the corporate world. However, another crucial point of debate among tax officials and companies is the tax treatment on salaries of employees serving the customary notice period. A recent ruling in the...
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Posted Date : 15-Nov-2021 , 08:08:25 am | Posted By CASANSAAR
Based upon specific intelligence, the officers of the Anti Evasion branch of Central Goods and Service Tax (CGST) Commissionerate, Delhi (East) have unearthed a case of availment/utilization and passing on of inadmissible input tax credit (ITC) through bogus GST invoices without actual movement of g...
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Posted Date : 13-Nov-2021 , 09:19:29 am | Posted By CASANSAAR
Goods and services tax authorities have started issuing notices to several companies, after uncovering a mismatch in tax credits using deep analytics tools embedded in the GSTN software. The tax department's analytics department has found these discrepancies in returns filed by companies,...
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Posted Date : 11-Nov-2021 , 07:52:34 am | Posted By CASANSAAR
Regulatory checks on fake invoicing, including those of services, need to be strengthened for better tax compliance, according to an update on indirect tax administration from the Central Board of Indirect Taxes and Customs (CBIC) to field officers. Senior officials of the Directorate General o...
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Posted Date : 06-Nov-2021 , 08:26:07 am | Posted By CASANSAAR
The CBIC has released guidelines on blocking of tax credit by goods and services tax (GST) field officers, adding such action should be on the basis of ‘material evidence’ and not just out of ‘suspicion’. The norms by the Central Board of Indirect Taxes and Customs (CBIC...
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Posted Date : 02-Nov-2021 , 08:05:23 am | Posted By CASANSAAR
The GST revenues for October have been the second-highest ever since the introduction of GST, second only to that in April this year. The gross GST revenue collected in the month of October is one lakh 30 thousand 127 crore rupees. Out of this amount, the CGST component is 23,861 crore, SGST is 3...
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Posted Date : 20-Oct-2021 , 08:34:08 am | Posted By CASANSAAR
Canteen charges collected from employees will now be outside the gamut of goods and services tax following a tax ruling that offers some relief to several large industrial and manufacturing units. In a recent ruling, the Gujarat Authority for Advance Ruling (AAR) said that GST is not applicable o...
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Posted Date : 14-Oct-2021 , 07:37:47 am | Posted By CASANSAAR
GST officers in Delhi have busted a network of fictitious exporters and arrested one person for fraudulently claiming input tax credit of ₹134 crore. The Finance Ministry said that based on risk analysis, M/s Vibe Tradex, engaged in export of Pan Masala, chewing tobacco, FMCG goods etc, w...
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Posted Date : 13-Oct-2021 , 08:55:03 am | Posted By CASANSAAR
The Goods and Service Tax Network (GSTN) on Tuesday said it has blocked ₹14,000 crore worth of input tax credit (ITC) of 66,000 businesses registered under the GST. Responding to social media posts based on an RTI reply about the ₹6.14 lakh crore of ITC blocked under Rule 86A of the...
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Posted Date : 07-Oct-2021 , 08:21:15 am | Posted By CASANSAAR
Ice creams sold by a parlour or such outlets will attract 18 percent Goods and Services Tax (GST), the CBIC said on Wednesday. In two sets of circulars, the Central Board of Indirect Taxes and Customs (CBIC) clarified on issues raised by trade and industry on rates changes related to 21 goods and...
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Posted Date : 05-Oct-2021 , 09:08:15 am | Posted By CASANSAAR
The Calcutta High Court has ruled that goods and service tax registration cannot be cancelled if business was not carried out from the premises, due to the nationwide Covid pandemic. The order was issued in case of an appeal filed by International Value Retail against revenue department and GST a...
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Posted Date : 04-Oct-2021 , 09:55:14 am | Posted By CASANSAAR
The Gujarat bench of the Authority for Advance Rulings (AAR) recently held that corporate social responsibility (CSR) activities under the Companies (CSR Policy) Rules are excluded from the normal course of business. Its ruling came in a case where the applicant was a private limited company, Adama ...
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- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
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Get Gst news for gst tax,hst return,gst refund etc on casansaar in india even offers goods and services tax ,credit,number,cheques,rebate news details.
