Page 31 - Goods And Services Tax

Bringing petroleum products under GST will be a good move, says CEA

He, however, said the decision will have to be taken by the GST council

GST registration: Foreigners exempted from Aadhaar authentication

However, Indian citizens will have to follow the Aadhaar authentication or personal verification route for GST registration

GST rate rationalisation: The larger objective

Besides merging the rate slabs of 12 per cent and 18 per cent, the GST Council could consider phasing out exemptions to those commodities that were subject to VAT duty by the States

12 including a CA arrested in a single day for fake GST invoice frauds

12 including a CA arrested in a single day for fake GST invoice frauds

Fake invoicing: 12 arrested including a CA in a single day, 329 since Nov

Goods and Services Tax (GST) authorities have been using data analytics, data sharing and artificial intelligence tools to unearth the ITC utilisation frauds via fake invoicing and bogus firms

HUL, Colgate among Nomura's top picks in case of GST slab rejig

The rate rejig, analysts say, will alter the tax burden on companies, which they expect to get passed on to the consumers

Without legislative backup, govt must not amend rules

The GST Council should prevail on the government to avoid such practices as they lead to unnecessary litigation

Course correction

Underperformance of GST must be addressed

Clarity on GST rate key likely to determine benefits for gas users

For now, analysts expect industrial users, city gas distributors and utilities to benefit

GST Council may take up rationalising tax rates, slab merger in next meet

15th Finance Commission has suggested merging 12 and 18% tax rates

SC asks Centre to file affidavit on technical glitches in GSTN

One of the major contentions put forward by the taxpayers was that the relevant GST forms could not be filed due to technological glitches faced on the GST Network portal

Registration of taxpayers to be suspended for anomalies in GST sales return

The registration would be suspended in cases where a comparison of the returns furnished by a registered person with the details of outward supplies furnished in form GSTR-1

ICAI wants FM to withdraw Budget proposal on doing away with GST audit

The Institute argues that benefits of such an audit outweigh ease of compliance that the new rule would bring for assessees

A compliance strategy for GST

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

15th FC report: Annual GST losses hit Rs 4 trillion on lower rates

Finance Commission finds inconsistencies in GST, bats for change, simplification and a three-rate structure

At record Rs 1.19 trn, GST collections give FM confidence ahead of Budget

Since the collections were till 6 pm on January 31, some more money is expected to come into the government coffers for the month

Govt mulls revenue dept restructuring; CBIC, CBDT to focus on collection

People in the know said the government was examining measures like the strengthening of the Central Economic Intelligence Bureau (CEIB)

Gujarat HC serves notice on Centre over interest on delayed payments

Earlier, the GST Council had decided that interest up to 18 per cent would be levied only on delayed payment through cash ledger and not via input tax credit

Hold back basic customs duty on solar equipment in Budget: Developers

Solar power developers in the country have demanded that the government should hold back the imposition of basic customs duty (BCD) on solar equipment for the time being in the forthcoming budget.

Budget 2021: Govt stares at revenue shortfall of Rs 7 trn this fiscal year

Revenue from disinvestment has been Rs 17,958 crore this financial year, against a target of Rs 2.10 trillion