Cgst

SC rules on service tax on corporate guarantees, gives pvt firm relief

No service tax on corporate guarantees by parent company to subsidiaries in absence of consideration, it says

At Rs 14.71 trn, direct tax collection hits 86.6% of FY23 target by Jan 10

The finance ministry issued refunds amounting to Rs 2.4 trillion till January 10

HC asks GST dept to drop notices against firm facing audit proceedings

Calcutta High Court says not clear how parallel proceedings can be conducted by three wings of same department

Supreme Court rejects plea by Hero MotoCorp for full budgetary support

But suggests GST Council, states consider mechanism for reimbursing eligible units

GST collections above Rs 1.4 trillion for sixth consecutive month

Mop-up increases 28% YoY in August to Rs 1.43 trillion; most big states see double-digit growth in collections

GST collection jumps 28% YoY in July to second highest ever at Rs 1.49 trn

Collection remains above Rs 1.4 trn for fifth straight month

Statsguru: Six charts show GST's revenue challenge for Centre, state govts

But a longer-term perspective on state collections raises questions on GST's ability to fulfil certain primary objectives

GST collection rises to an all-time high of Rs 1.42 trillion in March

The robust mop-up could be attributed to the government's tightened compliance measures and crackdown on GST evaders and fake bills

CGST finds Input Tax Credit fraud of Rs 81 cr; Mumbai firm director held

CGST Mumbai Zone has arrested a Navi Mumbai-based firm's director that allegedly availed and passed on Input Tax Credit of Rs 81 crore using bogus invoices to the tune of Rs 479 cr, an official said.

CGST finds ITC fraud of Rs 81 cr; Navi Mumbai firm's director held

The CGST Mumbai Zone has arrested the director of a Navi Mumbai-based firm that allegedly availed and passed on Input Tax Credit of Rs 81 crore

Navi Mumbai: One held by CGST authorities for input tax credit fraud

The CGST officials arrested the owner of Al-Marwah Traders on Tuesday for allegedly availing, utilising and passing on fraudulent ITC on bogus invoices of over Rs 60 crore

Interest on non-payment of GST may be recovered without notice

But with court backing, the authorities are considering doing it in some cases of mismatch in the invoices

Agencies may have to pay GST on service charges collected on govt's behalf

This follows a ruling by AAR Telangana on the matter, which also ruled that neither services provided by agency to govt, nor services provided on govt's behalf to businesses are exempt

GST collections cross Rs 1 trillion in October for first time in 8 months

Mop up grows 10% y-o-y at Rs 1.05 trillion, almost equal to levels in February before a nationwide lockdown to contain the coronavirus pandemic

CGST officials bust racket generating fake input tax credit of Rs 1,278 cr

CGST officials bust racket generating fake input tax credit of Rs 1,278 cr

Chhattisgarh sees 31% rise in CGST collection in Sept. as compared to 2019

The CGST Commissionerate of Raipur has collected Rs 716 crore revenue for September, registering a growth of 31% as compared to the corresponding month last year when it earned Rs 547 crore

July GST collection tumbles 14% to Rs 87,422 cr as Covid-19 hits economy

The July collections, which is 84 per cent of last year's numbers, is however, a recovery from the months of April and May

Green shoots of recovery? GST mop-up improves in June, crosses Rs 90,000 cr

However, the rate of decline has come down considerably to just 9.02 per cent from 38.17 per cent in May and 71.63 per cent in April

June GST collections at Rs 90,917 cr, up from Rs 62,009 cr mopped up in May

The government had allowed a relaxed time schedule for filing of Goods and Services Tax (GST) returns

Odisha GST collections up 11% to Rs 27,044 cr during April-February

The gross GST collection during the last month was Rs 2,790 crore