- 28 Mar 2022 01:38 PM
- New
Why GST needs administrative overhaul instead of rate changes
On 1 July 2017, GST was launched with a lot of expectations of reducing the cascading effects of double taxation which in turn will reduce the overall tax burden on goods and services making them more competitive in domestic as well as international markets. Further, it was expected that the indirect tax system in India will be simplified as many taxes were subsumed under GST.
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- 24 Mar 2022 05:41 PM
- New
CBIC issues guidelines for scrutiny of GST returns for FY 2017-18, FY 2018-19
Central Board of Indirect Taxes & Customs (CBIC) on Tuesday issued standard operating procedure (SoP) for GST to streamline the scrutiny of Goods and Services Tax (GST) returns filed for the financial year 2017-18 and 2018-19.
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- 23 Mar 2022 07:12 PM
- New
Bribery Case: CBI Recovers Rs. 28 Lakh Cash From Premises of DGGI Officer
CBI Conducts Searches At 5 Locations; Recovers Rs. 28 Lakh (Approx) Cash From Premises of Senior Intelligence Officer In Bribery Case of Rs. 60 Lakh
CBI has conducted searches at 5 locations at the premises of accused situated in Delhi, Haryana and Uttar Pradesh in connection with bribery case against the accused including Senior Intelligence Officer, DGGI, Ghaziabad in which a bribe amount of Rs. 60 Lakh as first instalment on behalf of the said public servant exchanged hands yesterday. During searches at the premises of Senior Intelligence Officer a sum of Rs. 28 Lakh(approx) was recovered. Searches also led to recovery of incriminating documents.
- 21 Mar 2022 06:05 PM
States panel may propose a single 15% GST levy by merging 12% and 18% slabs
A panel of state ministers set up to suggest changes to the GST rate structure may propose a single 15% levy by merging the 12% and 18% slabs, but is wary of proposing an increase in the threshold rate to 8%, from 5%, given growing inflation concerns.
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- 19 Mar 2022 05:04 PM
GST fraud: CGST Ghaziabad arrested 2 persons
Source: https://taxguru.in/goods-and-service-tax/gst-fraud-cgst-ghaziabad-arrested-2-persons.html
CGST Ghaziabad arrested 2 persons including the proprietor, of the firms involved in GST fraud of taxable value of Rs. 96.84 Cr and availment and utilization of fake ITC of approx. Rs. 5.15 Cr.
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- 17 Mar 2022 12:46 PM
IndiGo ‘in talks with Central govt’ to bring aviation fuel under GST ambit
Ronojoy Dutta on Wednesday urged the Central government to bring the Aviation Turbine Fuel (ATF) under goods and service tax (GST) ambit for the benefit of the aviation sector as well as customers.
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- 16 Mar 2022 06:24 PM
GST reduced from 18% to 5% for domestic Maintenance, Repair & Overhaul services
GST reduced from 18% to 5% for domestic Maintenance, Repair and Overhaul (MRO) services The average number of the passenger carried in the pre-Covid financial year (2019-20) was around 4 lakh per day. On 6th March 2022, domestic airlines in India carried around 3.7 lakh passengers.
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- 16 Mar 2022 06:42 PM
Over Rs 53,600 cr GST compensation yet to be released to states this fiscal:FM
Over Rs 53,600 crore of GST compensation for the current fiscal is yet to be released to the states, Finance Minister Nirmala Sitharaman said in the Rajya Sabha on Tuesday. So far this fiscal, Rs 96,576 crore has been released to the states on account of GST compensation, and an additional Rs 1.59 lakh crore has been given as back-to-back loan to make good the revenue shortfall on account of Goods and Services Tax (GST) implementation.
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- 15 Mar 2022 06:01 PM
'Pizza topping is not pizza, so will attract a higher GST levy'
GST rates on pizzas differ on the basis of how they are prepared
and sold. A pizza sold and eaten within a restaurant attracts 5%
GST, the pizza base bought separately attracts 12% while a pizza
delivered at home attracts 18% GST.
- 12 Mar 2022 05:55 PM
Fake ITC & bogus billing: CGST Bhiwandi Commissionerate arrests a businessman
CGST Bhiwandi Commissionerate arrests a businessman involved in passing of fake ITC and bogus billing A businessman involved in Fake Input Tax Credit racket has been arrested by the officers of Bhiwandi Commissionerate of CGST Mumbai Zone. Intelligence was developed by anti-evasion, Bhiwandi CGST of Mumbai CGST Zone, using different data analytics tools such as Advait, E-way Bill Portal etc.
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