GST Council to discuss waiver of late fee for August 2017 to January 2020; next meeting to be held on 14 June
The CBIC said late fee is imposed to ensure that the taxpayers file return in time and pay taxes on the amount collected from buyers and due to the government.
The government has extended the last date for filing annual GST return for the financial year 2018-19 by three months till September 2020
GST mop-up slips below Rs 1 lakh cr-mark first time in four months, March collection at Rs 97,597 cr
GST collections in March slipped below the psychological Rs 1 lakh crore-mark for the first time in four months to Rs 97,597 crore as COVID-19 lockdown that shut most businesses compounded tax collections in an already sluggish economy
When the issue of levy of GST on lottery came up at the 38th meeting of the Council, the consensus remained elusive, which led to a vote being taken to decide on
GST collections dip to 19-month low of Rs 91,916 cr in September; 75.94 lakh returns filed: Finance ministry
The Goods and Services Tax (GST) collection in September declined to Rs 91,916 crore, as against Rs 98,202 crore in the preceding month, as per government data released on Tuesday
The GST Network has developed a system whereby SMSes are being sent to promoters, directors and proprietors automatically in case of default in payment of tax, filing of returns or mismatch in ITC claims by the business entities, its Chief Executive Prakash Kumar said
Tax and legal consultants Wednesday complained about the time-limit of three months given to file the GST returns for 2017-18 as hundreds of amendments, notifications and circulars have made the Act very complex
Restaurants, small B2C entities under scanner for GST evasion; tax department develops mechanism to deal with issue
Several consumers have filed complaints through a mobile app -Iris Peridot - that GST was charged by small restaurants but the eatery neither deposited taxes with the government nor filed GST returns
Non-filers of GST returns for 6 consecutive months to be barred from generating e-way bills for movement of goods
Central tax officers have detected 3,626 cases of GST evasion/violations cases, involving Rs 15,278.18 crore in April-December period.
Budget 2019: Arun Jaitley’s calculations have gone awry because of a huge shortfall in GST collections
At the current rate, the gap in the actual central GST earned and the central GST that the government hoped that it would earn, will be close to Rs 1,50,000 crore.
Finance ministry says sale of flats after issue of completion certificate won't attract Goods and Services Tax
However, Goods and Services Tax (GST) is applicable on sale of under-construction property or ready to move in flats where completion certificate is not issued at the time of sale, it said.
The Finance Ministry has extended the last date for filing annual GST return forms by three months until 31 March, 2019.
The Confederation of All India Traders (CAIT) on Thursday said it has urged finance minister Arun Jaitley to extend the last date for filing annual goods and services tax (GST) return from 31 December, 2018 to 31 March, 2019
Since 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
"Last date of filing GSTR-3B for the month of July, 2018 has been extended to 24 August, 2018," an official statement said. The earlier due date was 20 August.
Industry body CII has suggested to the GST Council to come up with clear guidelines on anti-profiteering and raise the threshold for intra-state e-way bill generation to Rs 1 lakh.
One year of GST: With compliance at 69%, tax collections have begun to stabilise; time to make process smooth
The challenges to GST have ranged from being infrastructural - complicated compliance, tax slab revisions or last minute timeline alterations to psychological – as India is not a DIY (Do it yourself) economy
Finance Secretary Hasmukh Adhia on Tuesday said Goods and Services Tax (GST) has entered a "smooth phase" within a year of its rollout, with "pretty good" tax compliance and the efforts will now be to simplify tax return forms
One year of GST: Tax regime is anything but good and simple; govt can simplify it to improve ease of doing business
The complicatedness of the system can also be made out from the fact that the GST council has put out 158 notifications till date.
Since its implementation on 1 July 2017, the GST Council has made some 376 changes by amending rules.