Page 2 - Gst Tax

HC upholds GST rules on taxing intermediary services for clients abroad

Bombay HC didn't make any observation on what type of tax would be levied on such services offered by intermediaries

On the agenda: GST Council likely to approve tribunal blueprint this month

Operational framework to pave the way for the tribunal to be functional at Centre, state levels

GSTN advises taxpayers to plan return filing to avoid last-minute rush

GST Network has advised taxpayers to plan return filing and invoice uploading better and avoid the last-minute rush, which results in the clogging of GST systems. It said that 20.05 lakh GSTR-3B returns were filed on April 20 -- the last day for filing tax returns for sales in March, resulting in a waiting queue on the GST system and causing inconvenience to some of the taxpayers. Around 45 per cent of the returns filed on April 20 were either NIL returns (no tax liability and no ITC availment) or were such returns where no tax was paid in cash. It also highlighted that some taxpayers are uploading a large number of invoices (up to 27 lakhs) of the past period in one GSTR-1 on the due date of filing. "Taxpayers are advised to inculcate a month-wise return filing discipline for all the B2B invoices for the month and avoid reporting invoices of the past period in one go, as such behaviour can adversely impact the queue (waiting time) on the GST system," GSTN said in an advisory to ..

GST officers to seek details of all invoices in case of ITC mismatch

The CBIC issued circular clarifying guidelines on recovery proceedings for the period 2017-18 and 2018-19

Run-up to Budget: Monetary threshold for GST offences may rise to Rs 25 cr

So far, the CBIC has made 960 arrests, including of 20 chartered accountants, under the current provision

Do you need to pay 18% GST on rent?

Levying of Goods and Services Tax (GST) on home rent is also worrying people in some quarters. Who all will pay this tax on rent? Let us find out

GST: Understanding how the rules around tax on rent will apply to tenants

Businesses with a turnover of less than Rs 40 lakh per annum and salaried individuals are not required to pay the GST on rent under the new rules

Renting apartments gets costlier for companies with new GST rates in effect

The rent of apartments for top executives will attract an 18 per cent Goods and Services Tax (GST)

GST tweak on food items to plug revenue leakages, says CBIC chief

Says it will build a robust tax system without being intrusive

GST Council: Stormy discussion around states' compensation likely today

States will demand an extension of the compensation period or a change in the GST revenue distribution formula

Five years of GST: Some biz adapted, some perished, as others thrived

This ground report from Howrah talks about how the mid-sized and smaller players lost ground

GST enforcement: A fine balance in catching fraud, not harassing taxpayers

The government has tightened GST norms. But some of the changes have caused "inconvenience" to taxpayers, to say the least.

GoM on GST rate rejig to meet tomorrow, may seek extension to submit report

The ministerial panel, headed by Karnataka CM Basavaraj Bommai, will be meeting for the second time since it was set up in September last year

Inflationary concerns may delay GST rate rationalisation: Report

A GST tax rate rationalisation is likely to be delayed due to elevated inflation, sources said on Wednesday. The Goods and Services Tax (GST) regime taxes goods and services in four tax slabs of 5 per cent, 12 per cent, 18 per cent and 28 per cent. It was being considered to reduce these tax slabs possibly to 3, an exercise which would have involved raising taxes in some items and a reduction in others. But with inflation rate ruling at all-time high, such an exercise is likely to be delayed, sources said.

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

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

Rs 12.4 trn-e-way bills generated in Jun; 77% of pre-lockdown level reached

GST collection in June rises to Rs 90,917 crore from Rs 62,009 crore in May and Rs 32,294 crore in April

Frozen, packaged, branded parota not eaten by poor; Govt justifies 18% GST

According to government sources, frozen parota (layered flatbread) does not qualify as a staple item

GST hike on mobile phones will be detrimental for local manufacturing: ICEA

It is a very inappropriate time to consider hike in GST rate of mobile phones from the current level of 12 per cent, it added

Budget 2020: Congress seeks national farm loan waiver, minimum wage scheme

Chavan said the government must tell by how much income of farmers has increased in the last five years, as part of its promise of doubling their income by 2022

GST officials unearth Rs 241-cr tax evasion through fake invoicing

The racket was busted by the anti-evasion wing of CGST Delhi South Commissionerate