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The panel head and Finance Minister Nirmala Sitharaman declared that there will soon be alterations in the GST rates for various goods and services that are expected to be the yearly affair rather than a subject of frequent amendments. Further stating strong defiance against the process of frequent amendments in GST rates she said that […]
Central and state tax officers will share information about taxpayers for enforcement action as the government looks to tighten enforcement measures to check GST evasion. According to the central board of indirect taxes and customs (CBIC) officials, central and state officers are soon going to share information of taxpayers with each other in order to […]
Recently, the senior officials for the Finance Ministry of India have announced that hacking the government GST database and its associated infrastructure present on the GST Network (GSTN) can lead to an imprisonment of 10 years. The finance ministry declared the GST database and its associated architecture as “protected systems” under the Income Tax Act. […]
The GST Council has recently shown a green flag to the e-invoicing or electronic invoicing commencement in a phased manner. The mechanism is an advanced level Business reporting model through which all the B2B invoices are directly communicated to the main GST System. Prior to its commencement, the new e-invoicing mechanism was discussed upon by […]
Latest Update Supreme Court puts a stay on the order by Rajasthan HC that focused on extending the due dates for GSTR 9 and GSTR 9C filing. SC refused to interfere in the UOI vs Tax Bar Association issue and at the same time declared that late filing due to the technical issues in GSTN […]
Nashik division has witnessed a hike in its Good and Service Tax (GST) revenue collection. The considerable growth of 12.36% was seen in the Jan-April period of FY 2019-20 when compared to the same in FY 2018-19. The gross revenue GST collection Comparing with the numerals of January 2019, a clear hike of 12% is […]
The GST Council has announced that a webinar will be organized today, i.e. 5th February 2020 at 4 pm IST on the topic – GST New Returns. This webinar will be presented by Mr. Shri Kumar Vivek AVP Services who will discuss various important topics like New GST Returns, its concept, business process and benefits […]
As per the current analysis, 27 thousand returns and 28,000 crore refund claims were found guilty of being fraudulent. These shocking figures have been revealed by the government saying that several unscrupulous assessees claimed ITC on false invoices At a time when reports of Central Government eyeing RBI Reserves to breathe fresh air to credit-starved […]
In line with the protocols of the GST regime, the central government is all set to release compensation for the states in two installments, said Union Minister Anurag Thakur in Lok Sabha. This settlement was the conclusion of complaints made by Telangana and Odisha MPs during the question hour. During the session, their absolute focus […]
