GST News

CGST authorities bust ITC fraud of more than Rs 31,000 crore involving more than 7,200 cases in FY 2020-21

04 August 2021 at 06:40

GST authorities have unearthed over Rs 31,000 crore of tax fraud committed by misuse of ITC provision under the GST regime during the financial year 2020-21 and booked more than 7,200 cases involving fake ITC.

Posted in GST | 1764 Views

GST authorities recover more than Rs 1,900 crore in tax evasion in FY 2021-22 up to June 2021

04 August 2021 at 06:38

Evasion may be committed intentionally and at times non-payment of tax may happen due to human error. However, no evasion of tax has been reported due to failure in the CBIC back-end system.

Posted in GST | 1584 Views

Rs. 1,16,393 crore gross GST revenue collected in July 2021

01 August 2021 at 16:23

The gross GST revenue collected in the month of July 2021 is Rs. 1,16,393 crore of which CGST is Rs. 22,197 crores, SGST is Rs. 28,541 crores, IGST is Rs. 57,864 crore and Cess is Rs. 7,790 crores (including Rs. 815 crores collected on import of goods).

Posted in GST | 2709 Views

GST Audit to Discontinue w.e.f 1st August 2021

31 July 2021 at 13:03

Starting 1st August 2021, taxpayers will not be required to get their annual accounts audited by a CA/CMA for furnishing an audited reconciliation statement in Form GSTR-9C.

Posted in GST | 5 comments | 20001 Views

CBIC amends Rule 80 of GST Return, Instructions related to GSTR-9 and Form GSTR 9C

31 July 2021 at 12:55

CBIC has issued the Central Goods and Services Tax (Sixth Amendment) Rules, 2021 under which, amendments have been made under rule 80 relating to Annual Return, instructions related to the filing of GSTR-9 and Form GSTR-9C.

Posted in GST | 7863 Views

Registered Taxpayers with AATO of Rs. 2 crores, not required to file a GST Return for FY 2020-21

31 July 2021 at 12:41

The Central Board of Indirect Taxes and Customs, via Notification No. 31/2021 - Central Tax has exempted taxpayers having an aggregate turnover of Rs. 2 crores from the requirement of filing an annual return for FY 2020-21.

Posted in GST | 10119 Views

GSTN | Functionality to check and update bank account details

30 July 2021 at 06:30

A functionality to check status of bank account details update for the taxpayers who have taken new registration at GST Portal but have not yet furnished the same, has been introduced, in view of Rule 10A of the CGST Rules 2017.

Posted in GST | 4980 Views

GSTN | New functionality on Annual Aggregate Turnover deployed on GST Portal for taxpayers

27 July 2021 at 20:05

The taxpayers can now see the exact Annual Aggregate Turnover for the previous FY, instead of just the two slabs of Above or Upto Rs. 5 Cr. Taxpayers can also see the AATO of the current FY based on the returns filed to date.

Posted in GST | 8511 Views

54,439 appreciation certificates given to taxpayers on eve of completion of 4 years of GST

26 July 2021 at 22:01

GoI has awarded Appreciation Certificates, on the eve of completion of 4 years of GST, to 54,439 taxpayers who have made substantial contribution in payment of GST and filed their returns in a timely manner.

Posted in GST | 2469 Views

Clarification regarding extension of limitation under GST Law in terms of SC's Order dated 27th April 2021

24 July 2021 at 06:00

The Government had issued notifications under Section 168A of the CGST Act, 2017, wherein the time limit for completion of various actions, by any authority or by any person, under the CGST Act, which falls during the specified period, had been extended.

Posted in GST | 2859 Views