10 Aug 2022 05:46 PM
New

GST Council Newsletter for the month of July, 2022

Source: https://taxguru.in/goods-and-service-tax/gst-council-newsletter-month-july-2022.html

The gross GST revenue collected in the month of July, 2022 is ₹1,48,995 crore of which CGST is ₹25,751 crore, SGST is ₹32,807 crore, IGST is ₹79,518 crore (including ₹41,420 crore collected on import of goods) and cess is ₹10,920 crore (including ₹ 995 crore collected on import of goods). This is second highest revenue since introduction of GST.

10 Aug 2022 05:51 PM
New

GST payable on interest component of EMI of Credit Card loan: Calcutta HC

Source: https://taxguru.in/goods-and-service-tax/gst-payable-interest-component-of-emi-credit-card-loan-calcutta-hc.html

HIGH COURT OF CALCUTTA: Ramesh Kumar Patodia v. Citi Bank [WPO NO. 547 OF 2019 JUNE 24, 2022 ]

10 Aug 2022 06:11 PM
New

GST on Wet Grinders

Source: https://taxguru.in/goods-and-service-tax/gst-wet-grinders.html

(a) whether the Government proposes to consider reducing the Goods and Services Tax (GST) rate of 18 per cent on wet grinders as most of the Micro, Small and Medium Enterprises are hugely affected by this GST increase;

10 Aug 2022 06:14 PM

6 recent measures taken by Govt to check tax evasion through fake firms

Source: https://taxguru.in/goods-and-service-tax/recent-measures-govt-check-tax-evasion-fake-firms.html

(a) whether incidents of Goods and Services Tax (GST) evasion through fake firms have come to light in the country;

10 Aug 2022 06:16 PM

No recommendation by GST Council for change in existing GST rate slabs

Source: https://taxguru.in/goods-and-service-tax/recommendation-gst-council-change-existing-gst-rate-slabs.html

(a): GST rates/ rate slabs applicable on goods and services are prescribed on the recommendations of the GST Council, which is a constitutional body comprising of representatives from States/UTs and Centre. At present, there is no recommendation from the GST Council for change in the existing GST rate slabs.

10 Aug 2022 06:22 PM

Steps taken by Government to achieve target of 5 trillion dollar economy

Source: https://taxguru.in/goods-and-service-tax/steps-taken-government-achieve-target-five-trillion-dollar-economy.html

(a) whether it is true that higher tax collection in the last financial year is due to boom in the Service Sector

09 Aug 2022 04:28 PM

CGST Bhiwandi busts fraudulent availment of ITC of Rs. 78 crore

Source: https://taxguru.in/goods-and-service-tax/cgst-bhiwandi-busts-fraudulent-availment-itc-rs-78-crore.html

CGST Bhiwandi Commissionerate busts a case of non -payment of GST and fraudulent availment of ITC, amounting to Rs. 78 crore

09 Aug 2022 04:35 PM

System verified flow of ITC & Simple GST Return yet to be implemented: CAG

Source: https://taxguru.in/goods-and-service-tax/system-verified-flow-itc-simple-gst-return-implemented-cag.html

Compliance Audit Report of the Comptroller and Auditor General of India on Goods and Services Tax (Report No. 5 of 2022) for the year ended March 2021 was presented in Parliament here today. The Report contains significant results of compliance audit of Central Board of Indirect Taxes and Customs (CBIC) under the Department of Revenue. This report is divided into six chapters with money value of Rs. 1,251.18 crore.

08 Aug 2022 02:47 PM

NITI Aayog meet: Bhupesh Baghel seeks extension of GST compensation for 5 years

Source: https://www.livemint.com/news/india/niti-aayog-meet-bhupesh-baghel-seeks-extension-of-gst-compensation-for-5-years-11659868754799.html

Chhattisgarh Chief Minister Bhupesh Baghel again sought a five-year extension for the compensation to states in lieu of a fall in revenue due to the implementation of Goods and Services Tax (GST).

08 Aug 2022 02:58 PM

Maharashtra GST busts fake ITC racket

Source: https://taxguru.in/goods-and-service-tax/maharashtra-gst-busts-fake-itc-racket.html

Maharashtra Goods & Service Tax Department has arrested Mr. Brijesh Vanitlal Shah, age- 48, operator of M/s. Om Impex and two other firms, on 04.08.2022 under the special investigation operation carried out against tax evading firms.