14 Feb 2022 05:18 PM
New

GST input tax credit: Why tasking the recipient with the responsibility of ensuring supplier compliance may be draconian

Source: https://economictimes.indiatimes.com/small-biz/gst/gst-input-tax-credit-why-tasking-the-recipient-with-the-responsibility-of-ensuring-supplier-compliance-may-be-draconian/articleshow/89556910.cms

Budget showcases the next phase of the tax administration guided by digitisation and integration of central and state-level systems through IT bridges and removal of overlapping compliances.

11 Feb 2022 05:21 PM
New

Levy of 12% GST on Textiles : Request for withdrawal of the hike

Source: https://taxguru.in/goods-and-service-tax/levy-12-percent-gst-textiles-request-withdrawal-hike.html

In an important communication sent to Finance Minister, Nirmala Sitharaman,CAAT urged for complete withdrawal of the proposed GST hike on Textiles as same is going to be a big burden on Traders & consumers and is also against the AatmaNirbharBharat vision of the Government.

10 Feb 2022 05:10 PM
New

Will focus on scrutiny, audit of GST returns in coming year: Vivek Johri, CBIC chairman

Source: https://economictimes.indiatimes.com/small-biz/gst/will-focus-on-scrutiny-audit-of-gst-returns-in-coming-year-vivek-johri-cbic-chairman/articleshow/89470363.cms

The Central Board of Indirect Taxes and Customs (CBIC) will focus on scrutiny and audit of goods and services tax returns in the coming year, and ease compliances for Special Economic Zones, its chairman Vivek Johri told ET's Anuradha Shukla and Deepshikha Sikarwar in an interview.

10 Feb 2022 05:21 PM

CGST busts fake ITC racket, arrests proprietor of scrap metal firm

Source: https://taxguru.in/goods-and-service-tax/cgst-busts-fake-itc-racket-arrests-proprietor-scrap-metal-firm.html

CGST Commissionerate in Navi Mumbai busts fake input tax credit racket, arrests proprietor of scrap metal firm CGST Commissionerate, Navi Mumbai has busted a fake ITC racket of Rs. 10.26 Crores and arrested the proprietor of M/s. Al-Marwah Traders on Tuesday (8th February, 2022). The firm was engaged in availing, utilizing and passing on a fraudulent Input Tax Credit (ITC) on the strength of bogus invoices of more than Rs. 60 Crores thereby defrauding the government exchequer.

10 Feb 2022 05:27 PM

Haryana Launches GST Kosh

Source: https://taxguru.in/goods-and-service-tax/haryana-launches-gst-kosh.html

Government of Haryana Excise and Taxation Department Press Release Haryana Launches GST Kosh 8th February 2021 The Excise and Taxation Department, Government of Haryana under the leadership of Deputy Chief Minister. Sh. Dushyant Chautala launched the ”The Haryana GST Kosh” an E-repository of updated GST Acts and rules.

09 Feb 2022 12:43 PM

GST return filers doubled as compliance was simplified: Vivek Johri

Source: https://www.livemint.com/news/india/gst-return-filers-doubled-as-compliance-was-simplified-vivek-johri-11644345023868.html

Steps taken by the Goods and Services Tax (GST) Council and by tax authorities at the central and state levels have doubled the number of taxpayers filing regular monthly GST returns, said Central Board of Indirect Taxes and Customs (CBIC) chairman Vivek Johri. In a post-budget interaction with Mint, Johri explained the tax goals set out in the budget for FY23 and said the Centre would move the GST Council to bring more clarity on applicability of GST on cryptocurrency transactions.

09 Feb 2022 12:58 PM

Standard Operating Procedure For GST Registration

Source: https://taxguru.in/goods-and-service-tax/standard-operating-procedure-gst-registration.html

Pursuant to Order of Hon’ble Gujarat HC in Writ Petition No.17819/2021 dt.08/12/2021, Gujarat SGST was directed to give opportunity of hearing CAAS repn on hardships in new GST Registration within 6 weeks. On request of SOP for GST Registration CAAS has promptly sent below full SOP: Chartered Accountants Association, Surat

08 Feb 2022 03:30 PM

Record GST collection of Rs.140986 crore for January 2022

Source: https://taxguru.in/goods-and-service-tax/record-gst-collection-rs-140986-crore-january-2022.html

Average monthly gross GST collection for third quarter of FY 2021-22 is Rs.1.30 lakh crore Record GST collection of Rs.1,40,986 crore reported for January, 2022

06 Feb 2022 01:26 PM

Couple arrested for GST Evasion of Rs 12.23 Crore

Source: https://taxguru.in/goods-and-service-tax/couple-arrested-gst-evasion-rs-12-23-crore.html

The officers of Anti Evasion wing of CGST Thane Commissionerate of Mumbai Zone have arrested a couple, for GST evasion of Rs. 12.23 Crore. Based on detailed data mining and data analysis, a Thane based firm M/s Datalink Consultancy was identified as suspicious entity and enquiry was initiated against this firm. Investigation revealed that this firm was providing manpower to various high-profile companies. The firm had collected GST from the clients, but had not deposited the GST to the government exchequer for more than one year, in violation of the provisions of CGST Act 2017.

05 Feb 2022 04:16 PM

New Functionalities for Taxpayers on GST Portal in January, 2022

Source: https://taxguru.in/goods-and-service-tax/functionalities-taxpayers-gst-portal-january-2022.html

Article explains about New Functionalities made available for Taxpayers on GST Portal (January, 2022) which are related to GST Registration, GST Returns, GST Return, GST Payments and Changes made in Front Office Menu on the GST Portal.