Page 41 - Gst

Businesses to get fully auto-populated monthly sales return form GSTR-3B

Businesses will now get complete auto-populated monthly sales return form GSTR-3B, GST Network said

IIP grows 3.6% in Oct, touches 8-month high on consumer goods, electricity

The Index of Industrial Production (IIP) grew by 3.6 per cent in October on a year-on-year (YoY) basis compared to a 0.4 per cent expansion in the previous month

GST invoice fraud: 132 arrested, 163,000 registrations cancelled

In its drive to check fake firms GST field formations have cancelled 163,042 registrations in the month of October and November this year due to non-filing of GSTR-3B returns for more than six months

Delhi HC defers case on constitutional validity of NAA under GST system

No consensus on questions to be raised, court decides to hear them all

Top headlines: CIC structures on RBI's watch list; DLF to delve in Mumbai

From CIC structures of large groups on RBI's watch list to Pfizer working on cold storage issues to ensure temperature integrity, here are top headlines this morning

Notifications on GST exemptions puzzle exporters

On January 23, 2018, the exporters were barred from exporting on payment of IGST under refund claim if the supplier to the AA holder availed IGST exemption on his imports under his AA.

Centre's GST compensation formula gets approval from all states, UTs

Jharkhand, the only remaining state, has now communicated its acceptance of Option-1 given by the Centre

Now Jharkhand also opts for the special window for GST compensation

With this, all states and 3 UTs choose the window set up by the Centre to borrow on behalf of states the shortfall arising out of GST implementation

Chhattisgarh opts for special window for GST compensation; Jharkhand left

Now all states, except Jharkhand, have opted for Centre's borrowing options. Recently, Punjab, Kerala and West Bengal also accepted Centre's proposal after much opposition

High GST on aircraft components forcing P&W to go abroad for maintenance

High GST rate on aircraft engine components has been forcing Pratt & Whitney to go abroad for engine maintenance despite having a collaboration with Air India's engineering subsidiary AIESL for the servicing, according to an industry source. Engine components attract as higher as 18 per cent goods and service tax (GST), which makes the business unviable in India, and the engine maker wants the government to bring it in parity with 5 per cent GST as in the case of aircraft components, the source said. In February, Pratt & Whitney (P&W), which has supplied its Geared Turbo Fan (GTF) engines in large numbers to IndiGo and GoAir for their Airbus A320neo family planes, inked a pact with Air India Engineering Services Ltd (AIESL) to service these engines at the latter's MRO facility in Mumbai. A P&W spokesperson in a statement to PTI, however, said that collaboration with AIESL remains strong, despite the challenges faced by the industry due to the coronavirus pandemic. "We .

Top headlines: VI bites bullet on tariff hike; auto sales contract in Nov

From Vodafone Idea taking a lead in hiking tariffs by 6 to 8 per cent to contracting auto sales, here are top headlines this morning

Will e-invoicing weed out fake invoices and bills even at the retail level?

The expert view is that it will be easier for the retail industry to dodge the system and evade taxes, than it will for the durables sector

Telangana opts for Option 1 to meet GST shortfall, joins 22 other states

The Union Ministry of Finance informed that Telangana has opted for Option-1 suggested by the Ministry to meet the shortfall in revenue arising out of GST implementation

No extra load on taxpayer for GST turnover shown in form 26AS: Revenue dept

Form 26As is a yearly consolidated tax statement accessible from income-tax dept's website using a PAN. One can refer to it for details of high-value expenses and taxes paid

Professionals and kingpins among 25 held for issuing fake bills under GST

350 cases filed against 1,180 entities, actual amount of fake ITC claimed being ascertained, say sources

Bengal FM writes to Nirmala Sitharaman to seek GST Council meeting

West Bengal FM Amit Mitra is seeking a meeting of the GST Council for discussions on Centre's borrowings to meet the collection shortfall

DGGI's Mumbai Zonal Unit busts Rs 408-crore GST fraud, arrests 4

The Directorate General of GST Intelligence has arrested directors of four companies on charge of involvement in GST fraud totalling Rs 408 crore, an official said here on Thursday.

Experts wary about sustainability of Rs one trillion GST collections

They believe the October mop-up may have resulted from pent-up demand, are sceptical about the post festive season scenario

Top headlines: Future Retail files caveat in HC, US poll effect on markets

From how markets will react to US elections to Adani group being favourites for Sri Lanka port, Business Standard brings you the top headlines of the day

GST borrowing to meet states shortfall must be reasonable: Finance Secy

So far, 21 states and 3 Union Territories have opted for the borrowing plan proposed by the Centre