Page 95 - Gst

Importers, exporters to mandatorily declare GSTIN in documents from Feb 15

While importers are paying IGST on imports but not claiming credit for the same. This essentially means that the supply of imported goods to domestic channels is being done without a bill

Centre's fund crunch pulls down cities; rich Mumbai struggles too

State government accounts deserve scrutiny because they collectively spend 36 per cent more than the federal administration

GST rates are revenue negative; rejigging slabs will take time: John Joseph

The rates right now are revenue negative and not revenue neutral, he added

GST evasion: To tighten enforcement, I-T officials to share taxpayers' info

Currently, state tax officials administer and control 90 per cent of the assessees below Rs 1.5 crore annual turnover, and the remaining 10 per cent is with the central tax officers.

Letter to BS: Turn sales receipts issued by retailers into lottery tickets

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

Govt likely to introduce lottery system to boost GST compliance soon

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

Union Budget 2020: Fake invoicing under GST a non-bailable offence

Sitharaman announced that the new GST return framework and e-invoicing would be implemented from April 1, to improve compliance and plug the tax revenue leakages

Govt dropped initial plan on GSTAT set-up, proposal flagged, shows RTI

Madras High Court had later declared bench composition unconstitutional due to non-inclusion of even a single judicial member; no appeal filed yet

Budget 2020: Govt to bring simplified return form for GST from April 2020

In her second Budget presentation, the finance minister said GST has resulted in gains of Rs 1 lakh crore to consumers and removed inspector raj and also helped the transport sector

Don't reduce devolution

Increasing grants and tied funds not enough

Calibrating the policy mix

The right fiscal-monetary-external balance must be achieved to nurture and harness a nascent recovery

No duty, if EOU destroys goods within or outside EOU, says expert

If the authorisation is issued under notification 21/2015-Cus dated April 1, 2015, you cannot get IGST exemption

Budget 2020: SIAM seeks incentive-based scrappage policy, GST rate cut

Seeking a turnaround in fortune, the auto industry has been seeking government support and reduce the burden of transition to BS-VI with lower GST rate

Income mismatch probe: 5,000 companies under tax department lens

The Central Board of Direct Taxes has directed its tax sleuths to intensify enforcement action and launch search-and-survey operations against these firms

GST arrest provisions: Need for an urgent review

What GST urgently deserves is a re-orientation, for which a leaf out of the 'nudge theory' in behavioural economics may definitely help

Allcargo acquires nearly 13% stake in Gati in first of three-phased buyout

Several taxpayers complained of technical glitches on filing returns on social media

Budget 2020: DPIIT seeks more funds to boost infrastructure in hinterland

The government had severely cut down on expenditure in this area, with the 2019-20 (FY20) Budget providing Rs 909 crore, down from the RE of Rs 1,707 crore in the earlier one.

HC clears confusion over contentious issue of composite supply under GST

The company went to the Kerala high court against the judgement. The high court wondered as to how AAR came to the conclusion that it was a composite supply

Govt may propose GST refunds on capital goods purchases to exporters

Currently, under the LUT route, they need not pay tax on their export bills, but they stand to lose refunds on taxes paid on capital goods. Taxes on all other inputs get refunded

Over 1,200 exporters untraceable; govt saves Rs 350 cr fake IGST refund

Central Board of Indirect Taxes and Customs has obligated customs brokers under their licensing conditions to independently verifying the KYC of exporters