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Goods and Services tax
Manual checks in IGST refunds to prevent unscrupulous exporters from defrauding exchequer: FinMin
Thu, Jun 20, 2019
According to FinMin, the new verification exercise is aimed at preventing unscrupulous exporters from defrauding the exchequer and bringing a bad name to the larger exporting community.
Tax 'bidi' also at 28 pct to 'save millions of lives': Experts urge GST Council
Wed, Jun 19, 2019
Applauding the government for including cigarettes and smokeless tobacco in the highest tax slab for its long-lasting impact on the lives of the country's 268 million tobacco users, they demanded that 'bidis' be also classified as a demerit good and taxed at the maximum rate plus cess.
GST Council to meet on June 20 amid hopes of rate cuts
Tue, Jun 11, 2019
Union Finance Minister Nirmala Sitharaman would chair the meeting for the first time with Finance Ministers of all the states in attendance.
May GST collection stays above Rs 1 lakh crore, but lower than April
Sat, Jun 01, 2019
The Goods and Services Tax (GST) collection for the month of May rose 6.67 per cent to Rs 1,00,289 crore from a year ago period staying above Rs 1 lakh crore in monthly revenue mop-up. The collection is, however, lower compared to April when the gross revenue had touched all time high of Rs 1,13,865 crore.
Good news for MSMEs! GST Network to provide free accounting, billing software
Tue, May 28, 2019
GST Network said it has started offering free accounting and billing software to MSMEs with annual turnover of up to Rs 1.5 crore, which would benefit about 80 lakh small businesses.
GST refunds: Single authority for faster sanctioning, processing soon
Sun, May 26, 2019
GST refunds authority 2019: Expect the GST refunds process to become faster and simpler than past, soon.
Builders opting for old GST rate face problems with buyers insisting on paying only 5 pc tax
Wed, May 22, 2019
As part of rationalisation of the GST on real estate sector, the GST Council has allowed builders to migrate to 5 per cent rate for residential units and 1 per cent for affordable housing without the benefit of input tax credit (ITC) from April 1, 2019.
New GST rate on under construction property: Here's what builders and buyers must know
Thu, May 09, 2019
Seeking to end the confusion about the new GST slabs for the real estate sector, the Finance Ministry has come out with answers to Frequently Asked Questions (FAQ), clarifying 41 issues.
GST crackdown on tax evasion: New website to generate B2B invoices by September! Details here
Sun, May 05, 2019
GST crackdown on tax evasion: By September this year, all invoices for business-to-business sales by entities beyond a specified turnover threshold will be generated on a centralised government portal
GST collection at a record high of Rs 1.13 lakh crore in April
Wed, May 01, 2019
Goods and Services Tax (GST) collection rose 10.05 per cent to Rs 1,13,865 crore in April from a year-ago period.
Restaurants, small B2C entities under scanner for Goods and Services Tax evasion
Mon, Apr 29, 2019
Complaints of consumers about non-filing of returns by the entities which are charging Goods and Services Tax (GST) are being forwarded on a real-time basis to the tax department for further action.
Relief! Composition scheme businesses to now file simplified 'self-assessed' GST return quarterly
Wed, Apr 24, 2019
As per a Central Board of Indirect Taxes and Customs (CBIC) notification, composition scheme taxpayers will now file GSTR-4 annually by April 30 for the previous financial year ending March 31.
Non-filers of GST returns for 2 months to be barred from generating e-way bills from June 21
Wed, Apr 24, 2019
The Goods and Services Tax Network (GSTN) has put in place the IT system so that businesses which have not filed tax returns for the stipulated period would be barred from generating e-way bills.
GST Practitioners Exam 2019: Become government certified professional; know exam date, eligibility, syllabus, other details
Wed, Apr 17, 2019
GST Practitioners Exam 2019: The Registration Portal for the exam scheduled on 14.06.2019 will be activated on 21st May, 2019 and will remain open up to 4th June, 2019.
How DGARM, 360-degree profiling will make tax evasion nearly impossible
Fri, Apr 12, 2019
Directorate General of Analytics & Risk Management ( DGARM ) is the apex body of under CBIC.
Opt GST composition scheme by April 30, pay 6 percent GST: CBIC to Service providers
Sun, Apr 07, 2019
Service providers can opt for GST composition scheme by April 30: CBIC
GST mismatch: Officers seek clarification from companies on sales returns, e-way bill data
Sun, Apr 07, 2019
Goods and Services Tax Network (GSTN), the company which handles the technology backbone for GST, has started sharing details of e-way bills vis-a-vis taxes paid to help tax officers identify any discrepancy, sources added.
Real estate firms have time till May 10 to opt for old GST rates
Tue, Apr 02, 2019
The Central Board of Indirect Taxes and Customs (CBIC) has issued a notification giving real estate companies a one-time option to choose either of the tax rates.
GST defaulters beware! Fresh crackdown on tax evaders on the cards
Fri, Mar 29, 2019
Rejection of GST registration means suspension of business activity, as no commercial activity could be performed by an entity that is falling under the GST threshold but is still not registered.
GST Council approves transition plan for new tax rates for real estate sector; developers to get reasonable time
Tue, Mar 19, 2019
The Council had in its last meeting on February 24, slashed tax rates for under-construction flats in affordable category to 1 per cent. GST rate on other categories was reduced to 5 per cent, effective April 1.