Page 32 - Goods And Services Tax

Cleaning up taxes

Govt must seize opportunity to reform holes in tax system

DGGI issues show-cause notice to Amazon India over Rs 175 cr tax demand

Probe has allegedly found calculation errors by Amazon. The company paid higher GST but instead of claiming refund took wrong input tax credit

Budget 2021 will address woes of affected sectors, says Finance Secretary

AJAY BHUSHAN PANDEY says litigants in more than 96,000 appeals - involving disputed amounts of Rs 83,000 crore - have opted for the Vivad Se Vishwas scheme, which has been extended by a month

Commerce ministry should amend SEZ rules for sourcing from EOUs: Expert

EOUs were de-licensed as bonded warehouses with effect from August 13, 2016

Restrictions by way of software changes counter-productive

What happens when the government uses the software to impose restrictions that are not sanctioned by legal provisions is that the Courts strike down such restrictions as invalid

Best of BS Opinion: GST's high point, clarity on bitcoin, and more

Here's a selection of Business Standard opinion pieces for the day

GST's high point

More than recovery, better compliance has improved collection

FinMin releases Rs 6K crore to states to meet GST compensation shortfall

The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 1.10 trillion in revenue arising on account of implementation of GST

Fake GST invoice racket worth Rs 510 cr busted in Cuttack, kingpin held

Odisha Goods and Services Tax (GST) Commissionerate busted tax invoice fraud to the tune of Rs 510 crore and arrested its mastermind, Sandeep Mohanty in Cuttack, an official said on Friday

GST mop up rose to highest ever level at over Rs 1.15 trillion in December

Mop up was 10.57% higher month-on-month, and 11.65% higher year-on-year despite an elevated base on both yardsticks

Cheque payment to FASTag, rule changes that will affect your money in 2021

Cheque payments will be safer; the limit for contactless card transactions to increase

Banking on Budget: Some key indirect tax measures govt should focus on

Having multiple GST rates not only leads to complexities in compliance and tax structure, but also does not optically make India tax-friendly and competitive globally

Govt must focus on alignment of provisions with GSTN processes

There is a conscious attempt from the top echelons of the government to promote digitalisation and substantially reduce physical interface between the administrators and the trade

Arrest provisions under CGST Act challenged in Bombay High Court

While the government claims that companies are booked under GST laws for fraudulently claiming the input tax credit, experts find loopholes in the provisions, particularly those related to arrests

GSTN launches 'communication between taxpayer' facility on portal

The GST Network on Monday said it has launched the "communication between taxpayer" feature on its portal

GST invoice fraud: 132 arrested, 163,000 registrations cancelled

In its drive to check fake firms GST field formations have cancelled 163,042 registrations in the month of October and November this year due to non-filing of GSTR-3B returns for more than six months

Centre releases Rs 6,000 crore of GST compensation to 23 states, three UTs

Remaining five states do not have a gap in revenue on account of GST implementation.

E-invoicing under GST pick up speed, posts 17% growth in November

Daily invoice generation has now improved to 2.5-2.7 million per day compared to an average of 1.5 million a day in October.

GST collections up Rs 1 trn for second month straight, aided by festivals

November collections were 1.42 per cent higher than the same month of the previous year

25,000 defaulting taxpayers to be persuaded to file GST returns by Nov 30

GSTN and tax officials have decided to persuade 25,000 taxpayers, who have defaulted to file their GSTR-3B returns by the November 20 due date for the month of October, to file the same