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The government is consistently enhancing the GST system to make it touch the highest visualized spectrum. For the cause, GST Network (GSTN) is introducing transformation in the current GST return filing interface to make it a more simplified return filing mechanism. “Although, various amendments were made in the currently active version 2 of the GST […]
Consistant towards achieving a solid GST structure and preventing cases of GST leakages and frauds government keeps on improvising the tax laws for good. Many new provisions are allowed by the government and some old ones are amended in order to make GST a much more convenient and realistic form of tax governance. With effect […]
Economist and current FM of West Bengal Amit Mitra’s warning on declining GST revenue were dismissed by many saying it a pure politics. In an event, he said that India’s federal revenue system is at risk if the Centre denies guarantee of a 14% GST growth in the states’ revenue right now, if the state […]
Cases of GST frauds and false invoicing are terribly hitting the society leading to a disturbed GST structure. One such instance recently popped up in the markets of Ludhiana where unscrupulous dealers were found under-invoicing the trade of bicycles leading to tax evasion. Ludhiana is the hub for manufacturing cycles and cycle parts leading a […]
With the intention of bringing every taxpayer under the radar of GST Compliance and to evade GST frauds, the government has decided to reward everyone who pays tax honestly. Some internal sources revealed that in the form of reward from the government honest taxpayers will get a considerable relief in Income tax they are paying. […]
Recently, the central government has announced that it is looking for the options to pre-empt GST dodging by taxpayers based on their risk profile. The motive behind this initiative from the government is to prevent the tax evasion under Goods and Services Tax (GST). The assessee, whose profile would appear as “risky” under this scheme […]
New GST (Goods and Services Tax) return forms have been proposed which are ready to bring an end to the most popular and widely used tax evasion method which is “claiming rebate for the tax that was not paid in the first place”. These new forms will be rolled out soon and will start from […]
The indirect tax department is all set to extend the tracking on the defaulting businessman and traders with its electronic surveillance. It is said that GST intelligence will be getting rights for electronic surveillance. This electronic surveillance will provide added shield on GST evasion by the means of surveillance of mobile call/message data, personal desktop […]
Telangana State Waqf Board recently gets a GST notice from the office of the Principal Commissioner of GST asking for the 12.5 per cent GST on the waqf occupied properties rental income. There is an overwhelming number of waqf properties in the state and most of them are been allotted to the leased shops and […]
