GST | The Asian Age

Saturday, Apr 20, 2024 | Last Update : 07:30 AM IST

GST Page-6

"Between July to September 2019 (for three months), the new return system (ANX-1 & ANX-2 only) would be available for trial for taxpayers to make themselves familiar," added the release. (Photo: Representational/PTI)

GST council to introduce new GST return system

A transition plan has been worked out, said an official release on 31st meeting of GST Council, said an official release.

11 Jun 2019 3:38 PM

The ministry is planning to roll out the e-invoice system by September.

GST Council to meet soon, may fix Rs 50 cr turnover threshold for e-invoice under GST

The turnover threshold for entities to generate e-invoice for B2B sales is likely to be fixed at Rs 50 crore if the GST Council agrees.

09 Jun 2019 11:39 AM

In 2018-19, though the government met the combined GST target, the Centre’s GST mop-up fell short of the target outlined in the Budget.

Government may scale down GST target

Out of the pegged Rs 6.44 lakh crore GST collections, the Centre was looking to collect CGST of Rs 5.04 lakh crore and IGST of Rs 50,000 crore.

08 Jun 2019 1:40 AM

The ministry advised taxpayers to file the correct data about tax payment and other details as reported in monthly sales returns in annual return GSTR-9 by omitting the auto populated data.

IGST credit accrued in FY18 won't lapse even if not availed, assures FinMin

The ministry said that many taxpayers have raised a concern about annual return form GSTR-9.

04 Jun 2019 6:06 PM

CII President Vikram Kirloskar said the private sector is facing difficulty in getting land for manufacturing units and the states have a huge role to play and there is a need to create land banks. (Photo: File | Youtube screengrab)

India Inc pitches for land and labour reforms to achieve double-digit growth

To target GDP growing up to 10 per cent by 2023-24, the total investment requirement is estimated at USD 5.74 trillion.

03 Jun 2019 6:40 PM

SIAM proposed an incentive based vehicle scrappage scheme to get polluting, unsafe and old vehicles off the road. (Representational Image)

GST cut on auto, incentive to scrap old vehicles on SIAM's budget wish list

In April, passenger vehicles sales witnessed the steepest decline in nearly 8 years with sales dropping by 17.07 per cent.

02 Jun 2019 11:31 AM

Setting up a national bench of AAAR would help bring certainty in the GST era as divergent rulings by AARs leave the industry flummoxed about the tax implication of a particular business decision. (Photo: PTI)

Centralised bench for advance ruling mulled

Government move comes in the wake of taxpayers facing uncertainty and confusion over various tax dues.

20 May 2019 4:33 AM

The police is carrying out a thorough investigating into the matter and have registered an accidental death report. (Photo: Representational Image)

51-yr-old GST superintendent jumps from World Trade Centre in Mumbai

The deceased, identified as Harinder Kapadia, jumped from the World Trade Centre at around 6:30 pm in the evening.

14 May 2019 12:13 PM

Modi promised Indians that 'acche din' (good days) were coming. (Photo:AP)

Analyzing Narendra Modi's performance on the Indian economy

Prime Minister Narendra Modi has had mixed successes in delivering on his promises.

10 May 2019 12:04 PM

Further, policy implementation remains sub-par in India, the S&P Global Ratings report noted.

GST will not reduce deficits of Indian state governments significantly: Report

A report by S&P Global Ratings said that GST will not help tackling the deficits of the State Governments.

07 May 2019 1:59 PM

Innovation in financing will be the key to success of long-term growth strategy, Economic Affairs Secretary Subhash Chandra Garg said while addressing the Board of Governors of Asian Development Bank (ADB) in Fiji. (Photo: File | AFP)

India for ADB-led mechanism for channeling funds from rich to developing nations

Amidst the continued global uncertainty, Asia retains the hope of a bright future, said Subhash Chandra Garg.

04 May 2019 3:57 PM

"The total revenue earned by the central government and state governments after regular and provisional settlement in April 2019 is Rs 47,533 crore for CGST and Rs 50,776 crore for SGST," the statement said.

GST collection scales record high of Rs 1.13 lakh cr in April

The government has settled Rs 20,370 crore to CGST and Rs 15,975 crore to SGST from IGST as regular settlement.

01 May 2019 4:58 PM

When contacted, Tata Starbucks spokesperson said: "As a responsible organization, Tata Starbucks conducts its business ethically and complies with all the local laws and regulations".

GST investigation arm finds Tata Starbucks guilty of profiteering Rs 4.51 cr

Sources said the DGAP has concluded its investigation in March and found that Starbucks profiteered Rs 4.51 crore.

30 Apr 2019 3:11 PM

'When the Congress government comes to power, no farmer will be sent to jail for not repaying bank loans,' he said. (Photo: File)

If Cong comes to power, no farmer will be jailed for not repaying loans: Rahul in MP

Gandhi blamed the NDA government's decisions of demonetisation and implementation of GST for 'large-scale unemployment' in the country.

30 Apr 2019 2:31 PM

Indian tourism sector is likely to grow at 6.7 per cent per annum to reach Rs 35 lakh crore.

Rationalise GST rate for hotels to push tourism sector growth: Report

Higher taxes on hotels make the segment less competitive as compared to other Asian peers.

29 Apr 2019 3:28 PM

Going forward, businesses will be required to generate full electronic-tax invoice or e-invoice recording entire value of sales.

GST e-invoice generation system on govt portal on anvil to reduce tax evasion

The proposed system of e-invoice will eventually replace the requirement of a generation of e-way bill for movement of goods.

28 Apr 2019 2:06 PM

Gandhi said 'acche din ayenge' slogan has now been replaced by 'chowkidar chor hai'. (Photo: File)

'Ache din' now replaced with 'chowkidar chor hai': Rahul in Rajasthan

The Congress president said if his party is voted to power, GST will be simplified.

25 Apr 2019 1:40 PM

During April-December 2018, 3,626 cases of GST evasion/violations involving Rs 15,278 crore were detected.

FinMin brings in changes in e-way bill system to check GST evasion

Electronic way or e way bill was rolled out in 2018, for moving goods worth over Rs 50,000 from one state to another.

24 Apr 2019 8:51 PM

CBIC has notified the simplified 'statement for payment of self-assessed tax' in Form GST CMP08 to be filed by taxpayers who have opted for composition scheme, under which businesses have to pay lower rate of tax on their turnover.

Composition scheme biz to now file simplified 'self-assessed' GST return quarterly

Composition scheme businesses will file the April-June quarter returns in July as per the new format.

24 Apr 2019 7:26 PM

Central Board of Indirect Taxes and Customs (CBIC) has notified June 21, 2019, as the day from which any “consignor, consignee, transporter, e-commerce operator or courier agency” would be barred from generating electronic way or e-way bill for failure to file tax returns for the stipulated time period as mentioned in the GST rules.

Non-filers of GST returns to be barred from generating e way bills from June 21

Businesses under GST, will be barred from generating e-way bill if they fail to file returns for two consecutive filing periods.

24 Apr 2019 5:15 PM

6 of 68

Columns

Shobhaa De