- 15 Oct 2021 06:08 PM
- New
Summoned by GST authorities? Know your duties and rights
Taxpayers need to be conscious while making any statements before the GST officers as these can form the basis for issuing notices or taking any action punitive against them
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- 15 Oct 2021 06:06 PM
- New
GST Council Meet: Tax reduction on life saving drugs, and other key highlights
Reducing taxes on life-saving medicines, bringing petrol and diesel within the ambit of indirect tax, rationalizing an inverted duty structure, and treating food delivery apps as restaurant services were some of the key themes on the agenda.
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- 15 Oct 2021 06:04 PM
- New
GST Council: No GST on petrol, diesel yet, compensation cess till 2026
Finance minister Nirmala Sitharaman highlighted that the cess collected from July 2022 till March 2026 will be used solely for repayment of back-to-back loans given to states, totalling Rs 2.69 lakh crore.
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- 15 Oct 2021 06:02 PM
Ministerial panels set up to review GST exempt list, identify evasion sources
The Finance Ministry has set up two committees of state finance ministers which would rework rate slabs, review GST exempt items and identify potential evasion sources.
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- 15 Oct 2021 05:49 PM
Delhi GST officers busts fictitious exporter network for ₹134 crore ITC fraud
The Finance Ministry said that based on risk analysis, M/s Vibe Tradex, engaged in export of Pan Masala, chewing tobacco, FMCG goods etc, was identified for scrutiny
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- 15 Oct 2021 12:47 PM
GSTN blocks Rs 14,000-crore input tax credits of 66,000 taxpayers
Department has power to block the ITC available in the electronic credit ledger of a taxpayer if tax officer has "reasons to believe" that the ITC was availed fraudulently.
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- 12 Oct 2021 01:05 PM
GST: Your carbonated fruit juice-based drink is all set to get costlier
The GST Council in its 45th meeting held in Lucknow has given a new dimension to the entire debate on what should be the tax rate for fruit-based or fruit juice-based drinks.
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- 12 Oct 2021 01:03 PM
GST panel to consider giving waiver on 1 day interest, late fee
"A few taxpayers have reportedly faced difficulty in updation of their Electronic Cash Ledger on 20.09.2021 while filing their GSTR-3B returns," Central Board of Indirect Taxes and Customs (CBIC) said in a tweet.
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- 12 Oct 2021 01:01 PM
GST investigation wing directs field units to take quick action in pending cases, issue show cause notices where needed
The wing, under the Central Board of Indirect Taxes and Customs (CBIC), has directed principal chief commissioners or chief commissioners to draw up an action plan to ensure that no cases are pending investigation beyond one-year.
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- 12 Oct 2021 12:58 PM
GST: Not all intermediaries out of the woods, will continue legal tussle against government
These intermediaries say that they have been left out of the recent clarification by the government and that they will continue their legal battle across high courts. The main contention for these companies is that they have been slapped with GST on services that makes them uncompetitive globally.
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