GST Compliance

The next phase of GST reforms, promises simpler registration, quicker refunds and wider input tax credit, but businesses say deeper structural and administrative changes are needed

GST Council proposes curbs on transit-state inspections, while pushing wider e-invoicing, stronger data analytics and a facilitative approach to tax compliance

Measures ease compliance through simpler registrations, quicker refunds, wider tax credit access and relief on penalties and enforcement

The GST Council is likely to consider coordinated audits for businesses with multiple state registrations to reduce duplication and ease compliance

The Central Board of Indirect Taxes and Customs (CBIC) has said that when a registered taxpayer shifts or transfers its principal place of business from one tax jurisdiction to another, the new jurisdictional authority will take over and handle all pending proceedings related to the taxpayer. Any action or proceeding like investigation, audit, show cause notice, adjudication under the Central GST law undertaken by the tax officer having jurisdiction over the registered taxpayer on the date such action was undertaken (transferor jurisdictional authority), would remain valid even if the taxpayer subsequently shifts to another tax jurisdiction (transferee jurisdictional authority). "The transferee jurisdictional authority shall act upon, give effect to, and proceed on the basis of such earlier valid action taken by the transferor jurisdictional authority, as if it had itself initiated the same," the CBIC said in a circular. The indirect tax board said that it had received references fr

State FMs, in first meeting of GoM, suggest no new item in lists of luxury, sin, and demerit goods until transition

Intimation notices to 70 online gaming, edtech, ad companies

Surge of 15% on annual basis; might exceed BE by Rs 1.3-1.4 trillion

GST officers have busted a syndicate involved in the creation of fake firms and bogus invoices which led to a GST evasion of Rs 362 crore, the finance ministry said

Late fees for filing summary return or GSTR 3B waived; Interest rate halved to 9% for 15-day delay in the case of GST assesses with turnover of over Rs 5 crore

It is quite clear that to get the compliance benefit of the GST design, all economic entities must be brought within the tax net so that the invoice trail is established

The finance minister asked taxmen to make life easier for MSMEs, particularly on GST front

But the government will have to ensure protection from counterfeiting of sales receipts

Winning amount may range from Rs 10 lakh to Rs 1 crore

Experts said under the pre-GST state-level value-added regime, cancellation of registration rarely happened

It is an integrated software for all GST, Income Tax and TDS compliances