- 15 Nov 2021 02:23 PM
- New
GST fraud worth ₹34 cr unearthed in Delhi, 7 firms under probe
The modus operandi involved creating multiple firms with the intent to avail or utilize and pass on inadmissible credit
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- 13 Nov 2021 01:42 PM
- New
Notices to firms after mismatch in GST tax credits
The GST framework allows companies to set off part of their future tax liability against GST paid by them on the raw materials sourced from suppliers.
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- 12 Nov 2021 01:40 PM
- New
Buoyant GST receipts show economic recovery: Bhagwat Karad
Karad said there were some hiccups in GST implementation when it was introduced four years ago, but with feedback and suggestions from tax practitioners, these problems are being ironed out gradually
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- 12 Nov 2021 02:12 PM
Can petrol, diesel prices fall further soon? What Nitin Gadkari says
The GST Council on 17 September had decided to continue keeping petrol and diesel out of the GST purview, as subsuming the current excise duty and VAT (value-added tax) into one national rate will impact revenues
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- 10 Nov 2021 02:11 PM
CBIC for strict enforcement to check fake invoicing
The move to step up regulatory oversight to check irregularities in invoicing comes following a series of fake invoicing cases coming to light in recent months
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- 10 Nov 2021 02:41 PM
Digital GST Ready Reckoner by CA Raman Singla
Source: https://taxguru.in/goods-and-service-tax/digital-gst-ready-reckoner-ca-raman-singla.html
With the advent of newer technologies, learning has become increasingly digital. You can now choose the way you want to learn- as per your own convenience and flexibility.
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- 09 Nov 2021 01:54 PM
HC issues notice to GST council over non-inclusion of petrol, diesel prices
The court asked the council to inform it why petrol and diesel prices were not included in the purview of the GST. The court's order came on hearing a Public Interest Litigation.
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- 09 Nov 2021 02:41 PM
Block ITC only on basis of ‘material evidence’, CBIC tells GST officers
Source: https://taxconcept.net/gst/block-itc-only-on-basis-of-material-evidence-cbic-tells-gst-officers/
The government had introduced Rule 86A in GST rules in December 2019 giving powers to taxmen to block the ITC available in the electronic credit ledger of a taxpayer if the officer has “reasons to believe” that the ITC was availed fraudulently.
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- 03 Nov 2021 02:15 PM
GST collection may hit a record in November
October GST receipts have encouraged experts to predict that the Union government may exceed its FY22 budget estimate of ₹5.3 trillion in central GST (CGST) by up to ₹500 billion. Improvement in GST collections and compliance are also expected to rub off on corporate tax collections
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- 03 Nov 2021 04:08 PM
How India can reinvent the goods and services tax
Source: https://iconicverge.com/how-india-can-reinvent-the-goods-and-services-tax/
Whereas the preliminary thought was to implement one nationwide GST, given the federal construction of our nation and the calls for raised by numerous states, a grand discount was arrived at. A twin GST was adopted. The Centre and the state governments now have equal tax jurisdiction throughout items and companies and have equal proper to levy GST on the provision of taxable items or companies on intra-state transactions i.e., on consumption within the vacation spot state fairly than the manufacturing state.
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