Input Tax Credit

GST Council Meet today: Focus on revenue protection, boost for economic growth; no major tax rate cuts likely

The GST meeting will be closely watched as it could help investors gauge the government’s seriousness in reviving growth in Asia’s third-largest economy

Puzzled about GST RET, ANX forms? All you need to know about how to file your returns under new, simplified system

Under the new return system, there will be one return form called the GST RET-1/RET-2/RET-3, which will be the main return form, containing details of inward and outward supplies, input tax credit and taxes paid.

Avalara launches TrustFile GST annual return filing feature for GSTR-9 in a bid to enhance accuracy of process

The current deadline for businesses to file GSTR-9 is 31 August 2019.

Govt wants fair competition, will not encourage monopoly, says Telecom Minister Ravi Shankar Prasad to telco CEOs

Telecom minister met CEOs of telecom companies including Bharti Airtel, Reliance Jio, Vodafone Idea and state-owned Bharat Sanchar Nigam Ltd

GST officers book 535 cases of fake invoices involving input tax credit claims of Rs 2,565 cr in current fiscal

In 2018-19, 1,620 cases of fake invoices were registered involving fraudulent ITC claim of Rs 11,251 crore under the goods and services tax (GST)

Inclusion of real estate sector in its entirety under GST would help deal with uncertainties caused by various rulings

GST should ultimately subsume stamp duty payable on land sale agreements; ideally, at least on an immediate basis the Budget should address the issue created by notification in January 2018

GST evasion: 10% of profiteered amount as penalty is draconian when the concept of profiteering itself is nebulous

The Narendra Modi government’s obsession with foiling profiteering under the Goods and Services Tax (GST) law is going on unabated.

Govt identifies 5,106 'risky exporters' who fraudulently claimed GST refunds based on bogus invoices

The government on Thursday said it has identified 5,106 "risky exporters" so far who have claimed GST refunds based on bogus invoices, and would manually check their claims before issuing refunds

Bogus IGST refund claims: Govt to verify exporters' claims before sanctioning; standard operating method to be devised

The CBIC said it has observed instances of availment of IGST refund using fraudulent input tax credit (ITC) claims by some exporters.

GST Network releases prototype of new simplified return filing form; to be launched later this year

Stakeholders can share their comments on 'feedback.newreturn@gstn.org.in', said GSTN, the company which handles the technology backbone of Goods and Services Tax (GST) regime.