Gst Tax
GST officers to seek details of all invoices in case of ITC mismatch
The CBIC issued circular clarifying guidelines on recovery proceedings for the period 2017-18 and 2018-19
 "GST officers to seek details of all invoices in case of ITC mismatch")
Run-up to Budget: Monetary threshold for GST offences may rise to Rs 25 cr
So far, the CBIC has made 960 arrests, including of 20 chartered accountants, under the current provision
 "Run-up to Budget: Monetary threshold for GST offences may rise to Rs 25 cr")
Do you need to pay 18% GST on rent?
Levying of Goods and Services Tax (GST) on home rent is also worrying people in some quarters. Who all will pay this tax on rent? Let us find out
 "Do you need to pay 18% GST on rent?")
GST: Understanding how the rules around tax on rent will apply to tenants
Businesses with a turnover of less than Rs 40 lakh per annum and salaried individuals are not required to pay the GST on rent under the new rules
 "GST: Understanding how the rules around tax on rent will apply to tenants")
Renting apartments gets costlier for companies with new GST rates in effect
The rent of apartments for top executives will attract an 18 per cent Goods and Services Tax (GST)
 "Renting apartments gets costlier for companies with new GST rates in effect")
GST tweak on food items to plug revenue leakages, says CBIC chief
Says it will build a robust tax system without being intrusive
 "GST tweak on food items to plug revenue leakages, says CBIC chief")
GST Council: Stormy discussion around states' compensation likely today
States will demand an extension of the compensation period or a change in the GST revenue distribution formula
 "GST Council: Stormy discussion around states' compensation likely today")
Five years of GST: Some biz adapted, some perished, as others thrived
This ground report from Howrah talks about how the mid-sized and smaller players lost ground
 "Five years of GST: Some biz adapted, some perished, as others thrived")
GST enforcement: A fine balance in catching fraud, not harassing taxpayers
The government has tightened GST norms. But some of the changes have caused "inconvenience" to taxpayers, to say the least.
 "GST enforcement: A fine balance in catching fraud, not harassing taxpayers")
GoM on GST rate rejig to meet tomorrow, may seek extension to submit report
The ministerial panel, headed by Karnataka CM Basavaraj Bommai, will be meeting for the second time since it was set up in September last year
Inflationary concerns may delay GST rate rationalisation: Report
A GST tax rate rationalisation is likely to be delayed due to elevated inflation, sources said on Wednesday. The Goods and Services Tax (GST) regime taxes goods and services in four tax slabs of 5 per cent, 12 per cent, 18 per cent and 28 per cent. It was being considered to reduce these tax slabs possibly to 3, an exercise which would have involved raising taxes in some items and a reduction in others. But with inflation rate ruling at all-time high, such an exercise is likely to be delayed, sources said.
GST Council may take up rationalising tax rates, slab merger in next meet
15th Finance Commission has suggested merging 12 and 18% tax rates
 "GST Council may take up rationalising tax rates, slab merger in next meet")
Rs 12.4 trn-e-way bills generated in Jun; 77% of pre-lockdown level reached
GST collection in June rises to Rs 90,917 crore from Rs 62,009 crore in May and Rs 32,294 crore in April
 "Rs 12.4 trn-e-way bills generated in Jun; 77% of pre-lockdown level reached")
Frozen, packaged, branded parota not eaten by poor; Govt justifies 18% GST
According to government sources, frozen parota (layered flatbread) does not qualify as a staple item
 "Frozen, packaged, branded parota not eaten by poor; Govt justifies 18% GST")
GST hike on mobile phones will be detrimental for local manufacturing: ICEA
It is a very inappropriate time to consider hike in GST rate of mobile phones from the current level of 12 per cent, it added
 "GST hike on mobile phones will be detrimental for local manufacturing: ICEA")
Budget 2020: Congress seeks national farm loan waiver, minimum wage scheme
Chavan said the government must tell by how much income of farmers has increased in the last five years, as part of its promise of doubling their income by 2022
 "Budget 2020: Congress seeks national farm loan waiver, minimum wage scheme")
GST officials unearth Rs 241-cr tax evasion through fake invoicing
The racket was busted by the anti-evasion wing of CGST Delhi South Commissionerate
 "GST officials unearth Rs 241-cr tax evasion through fake invoicing")
FM holds first of a series of meetings with CAs, traders on simplifying GST
The finance minister assured the stakeholders that their suggestions on simplification of GST filing will be implemented soon, Revenue Secretary Ajay Bhushan Pandey said after the meeting
 "FM holds first of a series of meetings with CAs, traders on simplifying GST")
Preparing for GST audit: Taxpayers face penalty up to 0.25% of turnover
Vinod Subramaniam, CEO, Logo Infosoft, explains the criteria, requirements, processes for filing GSTR-9C and its importance in the context of GST audit
 "Preparing for GST audit: Taxpayers face penalty up to 0.25% of turnover")
GST investigation arm finds P&G India guilty of profiteering Rs 250 cr
According to GST anti-profiteering rules, companies have to pass on the benefit of reduction of taxes to consumers by way of commensurate cut in product prices
 "GST investigation arm finds P&G India guilty of profiteering Rs 250 cr")
