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Sunday, April 05, 2020

Goods and Services tax (GST)

GOODS AND SERVICES TAX (GST) NEWS

To check evasion, GST authorities may seek access to taxpayers’ bank accounts

January 08, 2020 1:27 am

The government said that it was decided to constitute a committee of central and state officers to examine and implement quick measures in a given time frame to curb fraudulent refund claims, including the inverted tax structure refund claims and evasion in GST.

Hyderabad: Raids conducted at 21 places, Rs 39 crore tax dues collected

December 18, 2019 9:29 pm

The assessees were from different fields, ranging from entertainment, education, hospitality, infrastructure, chit funds, travel agents, banking agents, who have not paid GST and service tax since 2015-16 onwards. About Rs 34 crore GST dues and Rs 4.5 crore service tax dues were collected by the officials.

FinComm’s final report to take note of GST stabilisation, revenue issues

December 17, 2019 5:19 am

Speaking to reporters on Monday after the fifth meeting of the Economic Advisory Council of the 15th Finance Commission, its Chairman NK Singh said the report will be comprehensive and address wide ranging issues.

Rs 14-crore GST ‘fraud’: Two company owners booked in Chandigarh

December 15, 2019 9:02 am

Both the accused are absconding. The two had also obtained GSIT numbers for their firms on the basis of fake rent agreements.

FM Nirmala Sitharaman assures states on GST dues, says ‘no one should have doubt’

December 13, 2019 4:11 am

Sitharaman said all states and not just non-BJP ruled states have not been paid compensation since August.

GST collection falls to 19-month low on weak consumption demand

October 02, 2019 7:17 am

GST collections are expected to be hit further as the recent rate cuts announced by the GST Council on September 20 will come into effect from October 1, leaving no room for further rate cuts.

Tax cuts for electric vehicles, wind turbines to be on agenda at 36th GST Council meet

July 22, 2019 3:29 am

The meeting will happen through video conferencing on Thursday, the Finance Ministry said Sunday.

Rationalisation of slabs, GST on fuel in industry wishlist

July 01, 2019 5:23 am

As GST implementation completes two years on July 1, industry bodies such as CII, FICCI urged the government to take further rationalisation measures to kickstart GST 2.0.

Risk parameters developed to audit taxpayers filing annual GST returns

June 27, 2019 1:28 am

GST audits were earlier scheduled to commence from July 1 for those taxpayers who have filed their GST annual return.

Goods and Services Tax evasion: SC agrees to examine power of tax officials to arrest individuals

May 30, 2019 3:49 am

The order also comes two days after the SC upheld a Telangana High Court verdict that had held that a person can be arrested by the concerned authority in cases of GST evasion.