Priya Nawani (Ex-Employee)

Following the reports of technical bugs encountered while filing of GST returns (summary returns GSTR 3B), Goods and Service Tax Network (GSTN) announced that the total of 65.65 lakh GST return 3B form were filed in the month of December (till 20 Jan) out of which 13.30 lakh returns were filed on the due date. […]

The electronic sector is seeking the government to lower GST rates and remove the import duty on inputs used to manufacture appliances domestically. In Budget recommendation, CEAMA’s president, Kamal Nandi said that lowering GST on eco-friendly and energy effective electronic appliances like air conditioners and refrigerators will definitely boost the demand for such items leading […]

India’s national treasury is estimated to be in the deficit of INR 5 trillion which is approximately 40% of the total Goods and Service Tax (GST) collection target. The aforesaid loss is due to cases of tax evasion and irrelevant ITC claims by businesses, as declared by Fifteenth Finance Commission (FFC). FCC in its presentation […]

Kerala Finance Minister Thomas Issac is currently on a mission to stop tax evasion on Gold. Gold is one of the most sought after items in South districts and therefore has a peek sales. So naturally, the GST fraud in the sector would lead to a huge loss in the state’s tax revenue. To curb […]

The administration currently decided to reset Goods and Service Tax collection targets. The current targets set by the government are Rs. 1.15 lakh crore for February and Rs. 1.25 Lakh crore for March, which are higher than the GST collections of December The government finally crossed the 1 lakh crore mark of GST revenue from […]

The current ruling needs to stress the misfortune caused to India due to world politics. For instance, chaos in West Asia or any other oil fertile nation of the world will directly affect the oil supply in the consuming nations like India, leaving the country depressed with the burden of oil requirements for its natives. […]

Goods and Service Tax (GST) could prove to be excellent tax reform in the long run. But in the short run, it is a messy and disruptive mechanism directly affecting the Indian economy, says Ashok Lahiri (former chief economic adviser (centre) and currently a member of 15 Finance Commission). He also suggested the concerned ruling […]

The department under GST is finally extending notices to on business whose accounts are required to get audited as per the norms. Cordial notices are being sent by the government to businesses for the first year of GST (2017-18). There are three basic kinds of audits under GST, the first one focuses on the business […]