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Posted Date : 09-Jan-2021 , 09:46:09 am | Posted By CASANSAAR
The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana has arrested one Shri Sanjay Goel, resident of New Delhi on charges of illegally availing and passing on input tax credit (ITC) on goods-less invoices. On the basis of the investigation conducted till date...
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Posted Date : 06-Jan-2021 , 08:10:22 am | Posted By CASANSAAR
The due date for quarterly filing of Goods and Services Tax Returns for the third quarter of 2020 (the period between October and December) is January 13, the GSTN said on Tuesday. "The date currently being shown in the GSTR-1 tile is 31.01.2021 which is erroneous and the correct date i.e. 13.0...
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Posted Date : 05-Jan-2021 , 08:58:19 am | Posted By CASANSAAR
The power of GST authorities to block credit is drastic in nature and mustn’t be used to harass taxpayers, the Gujarat High Court has said. The court expressed the need for the government to issue guidelines and the procedure to be followed by GST authorities while exercising their powers to b...
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Posted Date : 05-Jan-2021 , 08:34:43 am | Posted By CASANSAAR
Armed with data analytics and information from agencies, the government has launched a massive crackdown on GST evaders, initiating action against 7,000 entities including arrest of 187 -- a campaign that contributed to buoyancy in tax collection, Finance Secretary Ajay Bhushan Pandey said on Sunday...
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Posted Date : 04-Jan-2021 , 08:21:37 am | Posted By CASANSAAR
The Central GST Delhi West Commissionerate has unearthed evasion of GST by way of manufacture and clandestine supply of gutkha/pan masala/tobacco products without any registration and payment of duty. On basis of the search at the premise of manufacture, it was found that illegal manufacturing of Gu...
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Posted Date : 02-Jan-2021 , 09:33:03 am | Posted By CASANSAAR
GST Revenue collection for last month has been recorded to be an all time high since the implementation of the Goods and Services Tax in the country. The gross GST revenue collected in the month of December 2020 is 1 lakh 15 thousand 174 crore rupees. The revenue collected is 12 per cent hi...
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Posted Date : 24-Dec-2020 , 10:12:34 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman has said that the government has issued a notification to curb the menace of fake GST invoice by fraudsters or fly-by-night firms. She said, the move comes following recommendations of the GST Council’s Law Committee in this regard. Ms Sitharaman said,...
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Posted Date : 15-Dec-2020 , 09:02:44 am | Posted By CASANSAAR
GST authorities have arrested as many as 140 persons, including five chartered accountants, in about a month's time on charges of issuing fake invoices, and have now trained their guns on entities transporting under-valued goods. In its nationwide drive against fake invoice frauds since the s...
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Posted Date : 14-Dec-2020 , 10:06:03 am | Posted By CASANSAAR
Come January 1 and GST taxpayers would be able to pay their tax dues on a self assessment basis without having to go through the cumbersome process of filing tax returns on a monthly basis. The Central Board of Indirect Taxes and Customs (CBIC) will introduce the new Quarterly Return and Monthly ...
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Posted Date : 14-Dec-2020 , 09:52:52 am | Posted By CASANSAAR
Businesses will now get complete auto-populated monthly sales return form GSTR-3B, GST Network said on Sunday. "For ease of taxpayers, now the system will auto populate GSTR-3B (monthly) on the basis of details filed in GSTR-1 and auto-drafted ITC statement GSTR-2B from November 2020 tax per...
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Posted Date : 12-Dec-2020 , 10:29:11 am | Posted By CASANSAAR
Goods and Services Tax (GST) authorities have cancelled 1,63,042 GST registrations in October and November for defaulting on filing monthly tax returns for more than six months, said a government official. Besides, 28,635 other taxpayers have been identified for cancellation of registration for d...
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Posted Date : 11-Dec-2020 , 09:26:14 am | Posted By CASANSAAR
The Delhi High Court today observed that the entire concept of the Goods and Services Tax (GST) is getting defeated by the input tax credit while hearing a petition by a businessman seeking protection from arrest in a case of alleged wrongly/illegally availed of Input Tax Credit. The ...
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Posted Date : 11-Dec-2020 , 09:17:10 am | Posted By CASANSAAR
Facility to file annual return in Form GSTR-9 for FY 2019-20 is now available. The Form is enabled for taxpayers whose table 8A computation has been completed. Computation of the table 8A of the said return for auto population from returns is under progress which is likely to be completed soon. ...
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Posted Date : 07-Dec-2020 , 02:16:02 pm | Posted By CASANSAAR
The government has launched the Quarterly Return filing & Monthly Payment of Taxes (QRMP) scheme for small taxpayers under GST system. Taxpayers with aggregate annual turnover of up to Rs 5 crore in the preceding financial year and have filed their October GSTR-3B (sales) return by November 3...
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Posted Date : 04-Dec-2020 , 09:24:21 am | Posted By CASANSAAR
The Supreme court on Thursday upheld that the Goods and Service Tax (GST) shall be imposed on the sale of lotteries, betting and gambling. The apex court bench headed by Justice Ashok Bhushan upheld the notification issued under the Central Goods and Services Tax Act, 2017 wherein the lottery and...
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Posted Date : 04-Dec-2020 , 08:47:59 am | Posted By CASANSAAR
Government of Chhattisgarh has communicated its acceptance of Option-1 to meet the revenue shortfall arising out of GST implementation. The number of States who have favoured Option-1 has gone up to 27. All States except Jharkhand and all the 3 Union Territories with Legislative Assembly have decide...
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Posted Date : 02-Dec-2020 , 09:23:10 am | Posted By CASANSAAR
The gross GST revenue collected in the month of November, 2020 is Rs. 1,04,963 crore of which CGST is Rs. 19,189 crore, SGST is Rs. 25,540 crore, IGST is Rs. 51,992 crore (including Rs. 22,078 crore collected on import of goods) and Cess is Rs. 8,242crore (including Rs. 809 crore collected on import...
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Posted Date : 30-Nov-2020 , 10:17:29 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) has waived penalty on non- implementation of dynamic quick response code which is mandatory for companies over Rs 500 crore turnover, till March 31, 2021. According to a notification issued Sunday, the Board said that the waiver will be appli...
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Posted Date : 29-Nov-2020 , 10:40:40 am | Posted By CASANSAAR
About 25,000 businesses who missed filing Goods and Services Tax (GST) return in November will get text messages and emails from tax authorities urging them to comply with the requirement by Monday as the government steps up its compliance drive. Also, about 5,43,000 businesses that have defaulte...
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Posted Date : 29-Nov-2020 , 10:32:36 am | Posted By CASANSAAR
Officers of GST investigation arm DGGI have arrested a Haryana resident on charges of manufacturing and supplying cigarettes illegally and thereby evading taxes of over Rs 129 crore, the Finance Ministry has said. "The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU),...
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Posted Date : 26-Nov-2020 , 09:41:13 am | Posted By CASANSAAR
The government on Wednesday arrested three people involved in Goods and Services Tax (GST) evasion worth Rs2,352 crore in the Mumbai region, and one person in Vadodara who created 115 fake firms to fraudulently usurp input tax credit (ITC) of over Rs50 crore through bogus invoices, two officials sai...
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Posted Date : 24-Nov-2020 , 09:21:30 am | Posted By CASANSAAR
GST registration could become tedious if the GST Council accepts its Law Committee's recent recommendations to plug GST leakages via input tax credit (ITC) using fake invoices. According to sources, the Law Committee of GST Council has suggested tightening of fresh registration of taxpayers u...
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Posted Date : 21-Nov-2020 , 09:14:54 am | Posted By CASANSAAR
Forty one people have been arrested in the last eight days in a fake invoice cartel busted by the Directorate General of GST Intelligence (DGGI) and three of them who are chartered accountants are facing disciplinary action, said a government official. DGGI will inform accounting rule maker and p...
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Posted Date : 20-Nov-2020 , 09:48:49 am | Posted By CASANSAAR
In a major relief to businesses, the government plans to do away with monthly filing of Goods and Services Tax (GST) returns after the electronic invoice (e-invoice) is fully operationalised, which will not only reduce compliance burden but also check tax evasion, finance secretary Ajay Bhushan Pand...
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Posted Date : 17-Nov-2020 , 09:38:25 am | Posted By CASANSAAR
After a nationwide drive against fake invoices that tend to mar the Goods and Services Tax (GST) system, the government is examining if the offenders can be booked under COFEPOSA (Conservation of Foreign Exchange and Prevention of Smuggling Activities Act), apart from taking action against them unde...
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Posted Date : 16-Nov-2020 , 10:04:55 am | Posted By CASANSAAR
In a nationwide crackdown, authorities have arrested 25 people and booked cases against 1,180 entities in connection with fraudulent input tax credit (ITC) claims by allegedly using fake invoices, according to officials in the Directorate General of GST Intelligence (DGGI). “The actual amou...
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Posted Date : 09-Nov-2020 , 09:52:00 am | Posted By CASANSAAR
The government’s efforts to check evasion of Goods and Service Tax (GST) and step up the indirect tax system’s efficiency is set to reach the next level soon with officials being able to intercept suspicious transactions on a real time basis and pre-empt fraud. The idea is to enable t...
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Posted Date : 09-Nov-2020 , 09:31:11 am | Posted By CASANSAAR
The Goods and Services Tax Network (GSTN) portal has been enabled to handle double the taxpayer traffic for return filing after the GST infra was upgraded to handle up to three lakh concurrent users at a time. “The GSTN Portal now successfully handles almost double the taxpayer traffic for ...
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Posted Date : 07-Nov-2020 , 10:01:46 am | Posted By CASANSAAR
The CGST department needs to take a cautious approach because of the amount of fraud happening in claiming input tax credit (ITC) by business entities, an official of the GST administration said on Friday. Deputy commissioner, north, CGST Naveen Rana said in a CII organised webinar that there are...
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Posted Date : 01-Nov-2020 , 12:35:55 pm | Posted By CASANSAAR
GST collections in October stood at over Rs. 1.05 lakh crore, crossing for the first time ₹1 lakh crore mark since February this year, the finance ministry said on Sunday. The Goods and Services Tax (GST) collections fell from the psychologically important ₹1 lakh crore mark as the lo...
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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.
