One-time offer to settle minor GST offences in works

• Oct 19, 2022

The authorities is contemplating a Goods and Services Tax (GST) dispute settlement scheme providing a one-time alternative for businesses to settle tax circumstances and keep away from litigation, officers conscious of the event stated.

GST

Slow GST portal: CBIC mulls extending September returns filing due date

• Oct 22, 2022
  The government has extended the deadline for filing GST returns for the month of September by a day to October 21, the CBIC said on Friday. On Thursday, taxpayers faced a slow functioning of the GST portal, which was the last date for filing monthly GST returns for some taxpayers. Following that, the Central Board of Indirect Taxes and Customs (CBIC) had said that an extension of the due date was being considered .

GST

Government extends deadline for filing September GST return till October 21

Oct 22, 2022

The government has extended the deadline for filing GST returns for the month of September by a day to October 21, the CBIC said on Friday. On Thursday, taxpayers faced a slow functioning of the GST portal, which was the last date for filing monthly GST returns for some taxpayers. Following that, the Central Board of Indirect Taxes and Customs (CBIC) had said that an extension of the due date was being considered .

GST

GST offences up to Rs 5 crore may be decriminalised

• Oct 27, 2022
  To promote ease of doing business, the government is working on a proposal to decriminalise certain offences under the goods and services tax (GST) by raising the threshold limit from Rs 2 crore to Rs 5 crore in tax evasion cases.“A proposal is under consideration to raise the threshold to Rs 5 crore for initiating criminal prosecution. The matter will be put up before GST Council soon,” a senior official said.

GST

No GST on notice pay, nominal canteen fees

• Oct 27, 2022
  The Haryana bench of the GST-Authority for Advance Rulings (AAR) has held that transactions with employees entered into by the applicant company — such as recovery of notice pay, recovery of bond or surety amount, deduction from salary of a nominal sum for provision of canteen facilities, and a charge for issue of a duplicate identity card — would not be in the nature of a ‘supply’. Thus, no GST implications would arise.
  

GST

• Oct 27, 2022
  It can be a challenge to get the right mix of toppings that makes a pizza delicious. An overload of toppings could make the dough soggy and a wrong mix can affect the flavour. But in August, an Indian firm making pizza toppings mounted a different challenge in a court. It was not about the taste of the toppings. It was a dispute over the rate of Goods and Services Tax (GST) that they attracted. Since it was introduced five years ago, the nationwide uniform levy has helped boost India's taxes: the GST is now generating more than $17bn (£15bn) a month for the world's fifth largest economy.

GST

Relief for small biz. Govt sets the ball rolling on decriminalisation of GST Act

• Oct 31, 2022
  Decriminalisation of Goods and Services Tax Act is on the cards, which would give a big reprieve to small businesses in India, sources told businessline. In what could be a major overhaul of the GST Act in nearly six years after it came into effect, the government is likely to raise the threshold limit for initiating criminal prosecution against GST evasion and draw a clear distinction between minor offences and wilful evasion under the proposed new changes, the sources said.
  

• New changes
  The threshold limit for launching criminal proceedings under GST will be raised to ?20 crore and also the property of offenders below the set threshold will not be attached, as per the new changes to the GST Act being thought about, the sources said.

GST

November GST collection a tad below Rs 1.5 lakh crore; rises 11% on-year, but slips from previous month

• Dec 02, 2022
  
  

• The GST collection in November clocked in above Rs 1.4 lakh crore for the ninth month in a row, at Rs 1.46 lakh crore. The November collection rose 11% on-year, but slipped a little from the Rs 1.52 lakh crore in the previous month of October. India’s November GST revenue comprises CGST of Rs 25,681 crore, SGST of Rs 32,651 crore and IGST of Rs 77,103 crore, out of which Rs 38,635 crore was levied on the import of goods. Cess amounted to Rs 10,433 crore. Import revenue is 20% higher than the corresponding month the previous year, while revenues from domestic transactions is up 8% on-year.

GST