GST News
CBIC Chairman inaugurates Customs & GST pavilion at 40th India International Trade Fair
16 November 2021 at 08:39Shri M. Ajit Kumar, Chairman, CBIC, inaugurated the Customs & GST pavilion here today at Hall no.12 of Pragati Maidan, New Delhi.
CGST Officials unearth ITC fraud of around Rs 34 crore involving 7 firms
15 November 2021 at 08:24Based upon specific intelligence, the officers of the Anti Evasion branch of CGST Commissionerate, Delhi (East) have unearthed a case of availment/utilization and passing on of inadmissible ITC through bogus GST invoices
GSTR 2B will be available on the GST Portal on 14th November
11 November 2021 at 08:37The Central Board of Indirect Taxes and Customs will make available Form GSTR-2B in the afternoon of 14th November as its generation commences after the end of the due date of GSTR-1/IFF filing on 13th November.
GST collection for October 2021 registered the second highest since implementation of GST
01 November 2021 at 20:42The gross GST revenue collected in the month of October 2021 is Rs. 1,30,127 crore of which CGST is Rs. 23,861 crore, SGST is Rs. 30,421 crore, IGST is Rs. 67,361 crore and Cess is Rs. 8,484 crore.
GoI releases Rs 44,000 crores to States and UTs in-lieu of GST compensation
29 October 2021 at 08:30After taking into account earlier release of Rs. 1,15,000 crore, total amount released in the current financial year as back-to-back loan in-lieu of GST compensation is Rs. 1,59,000 crore.
Gurugram DGGI Unit arrests 3 persons for running fake firms and evading GST of more than Rs 48 crore
28 October 2021 at 08:28Two persons were arrested from Delhi on 5th and 9th October 2021 on charges of orchestrating a fake billing racket involving more than 20 fake firms where more than Rs 22 crore of fraudulent ITC was taken thereby defrauding the exchequer.
Advisory for taxpayers on Form GSTR-2B
20 October 2021 at 08:38Form GSTR-2B is an auto-drafted ITC statement which is generated for every normal taxpayer on the basis of the information furnished by their suppliers in their respective GSTR-1/IFF, GSTR-5 and GSTR-6.
Availability of Input Tax Credit (ITC) for FY 2020-21
18 October 2021 at 08:38As per Section 16(4) of CGST Act, 2017, no taxpayer shall take ITC in respect to records (invoices and debit notes) for the supply of goods or services for FY 2020-21 after the due date of furnishing the return for the month of September 2021.
1 arrested by Delhi CGST Officials for fraudulently claiming ITC of Rs 134 crore
14 October 2021 at 06:09Mr Chirag Goel masterminded a deep-rooted conspiracy to defraud the Government and committed offences specified under Section 132(1)(c) of the CGST Act, 2017 which are cognizable and non-bailable.
GoI releases Rs 40,000 crore to States/ UTs with Legislature in-lieu of GST compensation shortfall
08 October 2021 at 06:21This release of Rs 40,000 crore is funded from borrowings of GoI in 5-year securities, totalling Rs 23,500 crores and 2-year securities for Rs 16,500 crore issued in the current FY, at a Weighted Average Yield of 5.69 and 4.16% p.a. respectively.
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