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Apr 08, 2019
Tax officials to scrutinise mismatch between ITR, service tax returns for 2015-16 and 2016-17 fiscalsThe mismatch in ITR and service tax returns has come to notice in respect of PANs that are either not at all registered under service tax or PANs which are registered but did not file service tax returns.
Mar 08, 2019
CBIC clarifies on levy of GST on sales promotion schemes; taxes to be paid on price recovered from customerUnder the GST law, supply includes all forms of supply of goods or services including sale, transfer, lease or disposal made or agreed to be made for a consideration in course of furtherance of business.
Jan 02, 2019
Govt waives late fees for GST returns during July 2017-Sept 2018, but biz will have to pay for 15-month period by March 2019The fee for late filing of the returns is Rs 25 per day for Central GST (CGST) and an equal amount under State GST (SGST).
Dec 12, 2018
GST evasion worth Rs 12,000 cr detected in 8 months till November, says officialCentral Board of Indirect Taxes and Customs (CBIC) member John Joseph said despite the electronic way or E-way bill mechanism there has been rampant evasion and there is a need to increase compliance.
Nov 17, 2018
Finance Secretary Hasmukh Adhia to retire at end of November, says Arun Jaitley; Ajay Bhushan Pandey to take overIn a Facebook post titled 'Dr. Hasmukh Adhia retires', Arun Jaitley said "he was unquestionably a highly competent, disciplined, no-nonsense civil servant.
Oct 22, 2018
Finance Ministry extends deadline for filing September GST returns till 25 OctoberSince the ITC is availed on the basis of summary sales return or GSTR-3B filed. the deadline for ITC claims and GSTR-3B have been kept same
Oct 12, 2018
Govt hikes import duty on select communication items to up to 20% to check widening CADThe CAD widened to 2.4 percent of the GDP in the first quarter of 2018-19.
Jul 31, 2018
Govt unveils draft GST returns forms, seeks public comments; industry welcomes moveThe returns form was cleared by the Goods and Services Tax Council in its last meeting on 21 July.
Jul 26, 2018
States, union territories to reach out to traders, industry bodies to list out GST grievancesGST Council secretariat has been tasked to compile the suggestions and responses and send to the CBIC, which is the apex body for Indirect taxes in the country, by Friday
Jun 28, 2018
GST at one: Govt pleasantly surprised by political class rallying behind tax regime; admits technology let it down initiallyAdhia went on to say that natural gas and aviation turbine fuel (ATF) might come under the GST in near future.