GST News

GST compensation shortfall released to States reaches Rs.1.06 lakh crore

09 March 2021 at 17:02

19th Instalment of Rs. 2,104 crore released to the States on Monday, 08th March 2021. 96 per cent of the estimated shortfall of Rs.1.10 lakh crore released.

Posted in GST | 1443 Views

Financial aid to states to meet GST compensation

09 March 2021 at 17:02

In order to meet the shortfall in Goods and Services Tax (GST) compensation to be paid to States, the Government of India had set up a special borrowing window in October, 2020 to raise the estimated shortfall of Rs. 1.1 lakh crore.

Posted in GST | 1593 Views

E-invoicing made compulsory for taxpayers with aggregate turnover above 50 crore from 1st April 2021

08 March 2021 at 23:01

CBIC has revised the aggregate turnover for e-invoicing from 100 crores to 50 crores w.e.f 1st April 2021. Official notification has been listed here.

Posted in GST | 16956 Views

Taxpayers need to now compulsorily select business activity post login notifies GSTN

06 March 2021 at 22:37

Taxpayers are required to select their business activity only once, as - Manufacturer, wholesaler/Distributor/Retailer, service providers & others post login based on highest turnover amongst them.

Posted in GST | 3 comments | 9918 Views

CGST East Delhi Commissionerate arrests two for defrauding Govt. Exchequer of more than Rs 392 crore

05 March 2021 at 16:49

Officers of CGST Commissionerate, Delhi (East) achieved yet another success when investigations led to unearthing of a massive network of fictitious firms to generate and avail fake ITC of GST.

Posted in GST | 1674 Views

Upcoming changes in Table-12 format of GSTR-1 Return

04 March 2021 at 11:12

CBIC, via their official Twitter handle, have made the taxpayers aware of the upcoming changes in Table 12 of GSTR-1 Return. These include changes w.r.t the format and number of digits of HSN Code.

Posted in GST | 20181 Views

Delhi East CGST Officials arrest man for ITC fraud of Rs 38.91 crore

02 March 2021 at 16:29

It is pertinent to mention here that since the inception of GST Central Tax, Delhi Zone has made 28 arrests in various cases involving GST evasion amounting of more than Rs. 4058.86 crore.

Posted in GST | 2547 Views

DGGI Gurugram officials arrest man for defrauding exchequer in excess of Rs. 13.76 crore

01 March 2021 at 19:17

The Gurugram Zonal Unit of Directorate General of GST Intelligence has arrested a person, namely Mr. Pradeep Jain, resident of Muzaffarnagar, UP who is Director of M/s PSR Metals Pvt Ltd, Muzaffarnagar.

Posted in GST | 1377 Views

Rs. 1,13,143 crore gross GST revenue collected in February 2021

01 March 2021 at 18:47

The gross GST revenue collected in the month of February 2021 is ₹ 1,13,143 crore of which CGST is ₹ 21,092 crore, SGST is ₹ 27,273 crore, IGST is ₹ 55,253 crore and Cess is ₹ 9,525 crore.

Posted in GST | 1281 Views

GST compensation shortfall released to States reaches Rs. 1.04 Lakh crore

01 March 2021 at 18:00

The Ministry of Finance, Department of Expenditure has on Friday, released the 18th weekly instalment of Rs. 4,000 crore to the States to meet the GST compensation shortfall. 94% of the estimated shortfall released.

Posted in GST | 1287 Views