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GSTN releases prototype of simplified return filing system
Wed, May 22, 2019
Businesses which make supplies to only consumers (B2C) have to file return form 'Sahaj'. It includes details of outward supplies and inward supplies attracting reverse charge as well as summary of inward supplies for claiming input tax credit (ITC).
Income Tax dept to soon share turnover, ITR filing data of businesses with GSTN
Tue, Apr 30, 2019
Income tax officers and GSTN, the company that handles the information technology backbone of the new indirect tax regime, will also decide on the modalities for "automatic" and "spontaneous" exchange of data.
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.
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.
CBIC extends date for filing GSTR 3B for March period - Check new deadline
Mon, Apr 22, 2019
GSTR 3B filing for March period: The Central Board of Indirect Taxes and Customs (CBIC) has extended the due date for filing GSTR 3B for the period March for three days.
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.
Taxpayers can compare tax liability declared in final, summary GST returns forms: GSTN
Tue, Mar 12, 2019
GSTN has also provided taxpayers information regarding data of Input tax credit (ITC) as claimed in their form GSTR 3B and as accrued in form GSTR 2A, based on the return uploaded by the supplier.
GST Alert! Govt gives breather in filing GSTR-9, GSTR-9C forms, deadline now March 2019; get answers to all your queries here for seamless auditing
Wed, Dec 12, 2018
Chartered Accountants and tax experts have already started, and in many cases completed the examination of GST records of many GST registered taxpayers across India.
GST returns witness substantial increase in J&K: Tax dept
Sat, Dec 08, 2018
In 70 per cent of cases, where inspections were carried out, gross violation and tax evasion have been detected.
Why GST implementation was ridden with glitches: GSTN chief explains
Sun, Aug 12, 2018
The IT backbone of the Goods and Services Tax was not given enough time to prepare a system to the satisfaction of the GSTN which led to the glitches in the implementation of the new tax regime, a top official said.
Hawala transactions rising due to GSTN software: WB min
Tue, Jul 24, 2018
Mitra said the GSTN software was found wanting in the face of a massive load of transactions, which resulted in hand-written filling of forms.
One year of GST: Now, CEO says GSTN will go in for third-party audit of software
Fri, Jun 29, 2018
GSTN operates the IT backbone for collection of Goods and Services Tax (GST) data of over 1.11 crore registered business entities. A third-party audit will ensure that data filed with GSTN is adequately secured and there are no glitches. GST Network Chief Executive Prakash Kumar said third-party audit is a standard practice which is followed by banking and financial institutions.
Notice shot off to businesses for less IGST input credit claim
Fri, Jun 08, 2018
Tax authorities have started sending notices to businesses who have claimed less IGST input tax credit while filing sales returns as against the credit claims generated by GST Network (GSTN).
GSTN hits exporters where it hurts; here is how
Mon, May 28, 2018
Technical glitches on the Goods and Services Tax Network (GSTN) continued to give nightmares to exporters with refunds of over Rs 20,000 crore stuck, pushing them into a cash flow quagmire.
GSTN to rope in private entities for tax payer profiling, fraud analytics
Mon, May 07, 2018
GST Network has invited bids from private entities for "360-degree" profiling of taxpayers for early detection of fraud as it seeks to transform into an end-to-end platform for checking GST evasion, from being just a tax collection portal.
GST Council meet highlights: From returns filing, to paying consumers Rs 100, top 5 points in brief
Sat, May 05, 2018
The GST Council met on Friday okayed a number of proposals and is also positively thinking about giving up to Rs 100 incentive for digital payments to consumers. Among the major decisions were clearance of a new model for single monthly returns and to turn GSTN into a government-owned entity.
Sugar cess: GST Council to decide today; looks to raise Rs 1,540 cr
Fri, May 04, 2018
The proposal to impose the cess on sugar will be discussed today at the meeting of GST Council, to be chaired by Union finance minister Arun Jaitley. The Centre and states need to have a consensus on the decision. The meeting will be joined by the state finance ministers through video conferencing. The Council may also discuss slashing the GST rate on ethanol from the current 18%, a demand raised by the oil companies.
FinMin to take control of GSTN, snatch it from private player? How UPA ignored warnings
Tue, Apr 24, 2018
Seven years ago, policymakers ignored warnings from top Finance Ministry officials against leaving GSTN to private players. Officials, including the then chairman of the Central Board of Excise and Customs (CBEC), had warned that it could be a threat to India’s economy and national security, reveal official records seen by DNA
FinMin examining prospect of converting GSTN to govt company
Sun, Apr 22, 2018
Finance Minister Arun Jaitley had earlier this month asked Finance Secretary Hasmukh Adhia to "examine the possibility" of converting GSTN into a majority government company or a 100 per cent government company. GSTN provides the IT backbone for the new indirect tax regime
Exporters set to get Rs 3500 crore worth GST good news soon
Mon, Apr 09, 2018
The Goods and Services Tax (GST) refunds worth Rs 3,500 crore, stuck due to incorrect filings by exporters, will soon be released, government sources said.