Continuing its crackdown on tax-evaders, the Directorate General of GST Intelligence (DGGI) on Friday arrested one more person for fraudulently claiming input tax credit (ITC) of over Rs 16 crore.
Briefing reporters after the 35th meeting of the Council, Revenue Secretary A B Pandey said it has been decided to allow the use of Aadhaar by businesses to register with GST-Network.
The Central Board of Indirect Taxes and Customs (CBIC), in a statement, also assured genuine exporters that their refund claims would be processed in an automated environment and issued in a timely manner.
The Council at its 35th meeting, the first under new Finance Minister Nirmala Sitharaman, is also likely to consider a proposal to set up one appellate tribunal for north-eastern states, and another one for all Union Territories.
Traders in winter capital Jammu on Saturday demanded that the toll tax collected by Jammu and Kashmir government at Lakhanpur entry point into the state be abolished.
Making his submissions at a meeting convened by the Union Finance Minister for pre-budget consultations with stakeholder groups from agriculture and rural development at New Delhi on Tuesday, NDDB Chairman Dilip Rath also pitched for reduction of GST on breeding outputs, besides a cut in import duty on import of bovine germplasm.
The existing monthly summary returns GSTR-3B shall be completely phased out from January 2020 when the new form 'GST RET-01' is set to replace it, the ministry said while announcing the roadmap for 'Transition plan to the new GST Return'.
Oil refiners Indian Oil Corp (IOC) and Hindustan Petroleum Corp Ltd (HPCL) Thursday said they will contest tax authorities demand for over Rs 4,000 crore in excise duty on ethanol used for doping petrol, saying the sugarcane extract for mixing in fuel is exempt from tax.
Bringing down the tax rate will reduce vehicle prices, which will help in spurring demand that has been sluggish for the last 11 months, said an industry executive.
"Year-end collections are always highest as there is pressure on field officers to meet the targets," said Amit Bhagat, Partner, indirect tax practice, Dhruva Advisors.
Punjab chief minister Amarinder Singh Friday wrote to Prime Minister Narendra Modi, giving 101 suggestions on GST simplifications to alleviate the problems currently faced by businesses.
The Centre has projected a sharp increase of 26.6 per cent in non-Goods and Services Tax collection in 2022-23, making up for a loss on account of expiry of compensation cess provision.
Builders are facing a piquant situation with homebuyers insisting that they will pay only the new rate of 5 per cent GST on flats even though the developer has opted for the old rate of 12 per cent to take advantage of credit on inputs like paints, cement and steel.
With less than a week to go before India finds out who her next Prime Minister is going to be. India Tv brings to you the top moments of 5 years of Modi government.
Home buyers will have to pay 12 per cent GST on balance amount due to the builder if the housing project has been granted completion certificate by March 31, 2019, the CBIC has said.
The due date for filing summary sales return GSTR-3B and GSTR-1 for April was earlier notified as May 20 and May 11, respectively.
Congress President Rahul Gandhi on Thursday again attacked Prime Minister Narendra Modi over his decision to implement demonetisation and a "flawed" GST, claiming that it broke the economy's backbone by resulting in the closure of many small and medium businesses across the country.
Priyanka Gandhi attacks Modi govt over GST and demonetisation issue
The last date for filing summary sales return and payment of taxes for March was April 20, 2019.
The government has extended the last date for filing summary sales return, GSTR-3B, for March month by three days until April 23.
Top News
Latest News
