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GST officers to take steps to check export valuation, devise SOP for...
Measures to check export valuation, including capping of value for calculating export benefits and incentives, were also discussed and proposed for further examination.
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All you need to know from the 39th GST Council meet
Addressing the media after the meeting, Finance Minister Nirmala Sitharaman also said that a better GSTN system to be ensured by Infosys by July 2020.
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GST Return filing date extended, relief from late fee, penalties
Finance Minister Nirmala Sitharaman said companies which have less than Rs 5 crore turnover will not have to pay interest, late fee or penalty.
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GST filing deferment no relief for mobile phone makers after recent rate hike
An intelligence firm that tracks the smartphone market has cut this year’s growth estimate to 5.5% from 8% earlier. Realme has estimated that phone prices could go up by 12-15% for reasons including...
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GST rates for mobile phones, matchsticks, MRO services notified
Mobile phones will be charged 18% GST from April 1, compared to 12% earlier, while all kinds of matchsticks will be charged a 12% GST versus a range of 5% to 18%. Maintenance and repair operations...
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March GST collections stand at Rs 97,597 crore
February was the fourth consecutive month when collections crossed Rs 1 lakh crore. Central GST mop-up for March stood at Rs 19,183 core as against Rs 20,569 crore in February.
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Lowest ever GST on imports in March
Collections in March are related to sales or import consignments in February and the numbers are lower than the previous low of Rs 19,603 crore raised in February 2018.
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Government to release all GST, customs refund worth Rs 18k crore
The Government also said it would provide immediate relief to the business entities and individuals by releasing all the pending income-tax refunds up to Rs. 5 lakh, immediately.
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GST: Government should provide more relief to taxpayers to combat Covid-19...
On the day of announcement of lockdown, most of these investigations were underway and have now been stalled as most lower level revenue authorities were operating on the conventional printed document...
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6-month GST payment freeze for worst-hit sectors, a lower rate for realty...
Other proposals include switch to a cash-based tax system from current invoice-based one.
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States seek GST compensation beyond 2022 to tide over Covid-19 crisis
State finance ministers, during a video conference on Monday, also discussed issues arising out of the lockdown, including the urgent requirement of some form of aid for micro, small and medium...
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GST audit guidelines need to be reviewed to include video conferencing: Experts
As per the current goods and services tax (GST) audit guidelines, taxpayers have been broadly categorised into three groups based on their annual turnover -- large, medium and small.
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Expired e-way bills biggest challenge for India Inc
India Inc’s first attempts to move goods across states after the easing of lockdown curbs were hobbled by expired e-way bills which made it near impossible for transporters to cross checkpoints.
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Govt gives relaxations to taxpayers for GST compliance for filing annual...
In a notification dated May 5, the Central Board of Indirect Taxes and Customs (CBIC) has allowed registered persons to furnish GSTR-3B verified through electronic verification code between April 21...
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ATM industry seeks lower GST rate, stimulus to address COVID-19 challenges
In a letter to Finance Minister Nirmala Sitharaman, the Confederation of ATM Industry (CATMi) mentioned that it has been recognised by the government as a crucial player to further the financial...
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E-invoicing under GST may be deferred
The government is considering deferring the implementation of e-invoicing under goods and services tax (GST) by three months to July 1.
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Nandan Nilekani gets govt summons over persisting GSTN glitches
As per reports, Infy chairman Nandan Nilekani will have to make a presentation during next GST Council meet.
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GST on cellphones, footwear, textiles to be rationalised on March 14
The Council would also discuss operational glitches on the GST Network portal and seek a resolution plan from Infosys, which has won the contract for managing back-end for GSTN in 2015. The Council...
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Disunion between essential and non-essential goods during Covid-19 may...
Tax considerations resulting in cost saving measures, credit optimisation etc would fall under the new ‘must haves’ category vis-a-vis routine compliance and filings matters, which may not warrant any...
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GST officials seek directors’remuneration information
The inquiries come on the heels of conflicting orders passed by the Authority of Advance Ruling in two states on the applicability of GST on the remuneration of directors. The AAR Rajasthan said...
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