- 13 Dec 2021 05:24 PM
- New
States have ₹51,000 crore provisional GST compensation dues
As per GST Council’s decision, ₹1.1 trillion for FY21 and Rs. 1.59 trillion for FY22 has been released to states and union territories as back-to-back loan to meet their resource gap due to shortfall in GST compensation
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- 13 Dec 2021 05:42 PM
- New
CBI Arrests a CGST Superintendent In a Bribery Case
Source: https://taxguru.in/filters/?cats=goods-and-service-tax&type=news&court=0&filters=Y
The Central Bureau of Investigation has arrested a Superintendent of CGST, Amaravati Division, Vijayawada while demanding & accepting bribe of Rs. 8,000/- from a complainant.
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- 10 Dec 2021 06:12 PM
- New
Clear Max ITC: Solution to streamline ITC amid the removal of provisional claims
The tight restrictions on input tax credit claims mean that for every default by a business’s vendors, the recipient enterprise takes the hit. If vendors delay in uploading their invoices, the recipient business ends up paying that extent of their GST liability in cash until the vendor complies, thereby affecting their working capital.
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- 09 Dec 2021 02:25 PM
Follow systematic action to step up revenue receipts: CBIC to officials
The communication noted that the uptick in GST receipts continued and collections for the month of November at ₹1.31 trillion, the second highest so far since the roll out of GST, was a welcome sign of a reviving economy
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- 09 Dec 2021 02:49 PM
Features of the new tax information portal launched by CBIC
Source: https://taxguru.in/goods-and-service-tax/features-tax-information-portal-launched-cbic.html
CBIC has launched a revamped tax information portal https://taxinformation.cbic.gov.in/. With the help of this portal, all indirect tax legislations, rules, regulations and forms will be available for the easy reference of taxpayers. CBIC will continuously update and expand this portal in a phased manner.
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- 09 Dec 2021 02:55 PM
CGST Mumbai Central Commissionerate busts a racket of fake ITC generators
The officers of CGST Mumbai Central Commissionerate have smashed a racket of fake Input Tax Credit (ITC) generators, who had been passing this fake ITC to the tune of Rs. 35 crores to various entities. The officers have arrested the kingpin for generating and passing on this fake credit to more than 15 entities in and around Mumbai.
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- 08 Dec 2021 01:12 PM
Payment of GST compensation to States in times of COVID-19 pandemic
As per the provisions of the GST (Compensation to States) Act, 2017, GST compensation for financial years 2017-18, 2018-19 and 2019-20 has already been paid to the States. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Rajya Sabha today.
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- 08 Dec 2021 02:11 PM
Features of the new tax information portal launched by CBIC
Source: https://taxguru.in/goods-and-service-tax/features-tax-information-portal-launched-cbic.html
Introduction
CBIC has launched a revamped tax information portal https://taxinformation.cbic.gov.in/. With the help of this portal, all indirect tax legislations, rules, regulations and forms will be available for the easy reference of taxpayers. CBIC will continuously update and expand this portal in a phased manner.
- 07 Dec 2021 11:51 AM
Use GST data to raise direct tax revenue
Transparency as to employee compensation leads to better taxation of employee incomes. The more complete the GST chain, the better eventual realisations of both direct and indirect taxes.
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- 07 Dec 2021 12:14 PM
GST Compliance Burden on Food Delivery Applications & Restaurants
From January 1, 2022, Food delivery apps will primarily collect5% GST with the government, on behalf of the restaurants, for deliveries made by these platforms. This has been proposed by the government with a motive to bring several restaurants under the GST regime.
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