GST News
Central Government releases Rs 6,000 crore as the second tranche to 16 states and 3 Union Territories on account of GST compensation
03 November 2020 at 10:21The Ministry of Finance, under its “Special Window to States for meeting the GST Compensation Cess shortfall,” will be releasing an amount of Rs 6000 crores as a second tranche to 16 States and 3 Union Territories.
The NIC Portal generates more than 495 Lakh e-invoices by 27,400 taxpayers within a month
02 November 2020 at 16:38The e-Invoice initiative completes one month on 31st October. More than 495 Lakh e-invoices have been generated on the NIC portal by 27,400 taxpayers within the first month of the introduction. 641 Lakh e-way bills generated during the month.
Rs 1,05,155 crore of gross GST revenue collected in the month of October 2020
02 November 2020 at 10:23The gross GST revenue collected in the month of October 2020 is Rs. 1,05,155 crore of which CGST is Rs. 19,193 crores, SGST is Rs. 25,411 crores, IGST is Rs. 52,540 crores, and Cess is Rs. 8,011 crores.
CGST officials bust racket of generating fraudulent ITC of Rs. 1278 crores
30 October 2020 at 11:33CGST officials bust racket for generating fraudulent input tax credit through fake billing of around Rs 1,278 crores.
GST Portal releases tutorial on Filing NIL Form CMP-08 statement through SMS
27 October 2020 at 12:18GST Portal releases tutorial on Filing NIL Form CMP-08 statement through SMS
CBIC extends the due date for filing GSTR-9 & GSTR-9C for FY 2018-19 to 31st Dec 20
24 October 2020 at 15:09On the recommendations of the GST Council, CBIC has extended the due date for filing FORM GSTR-9/GSTR-9A and FORM GSTR-9C for FY 2018-19 from 31st October 2020 to 31st December 2020. Read the official announcement here.
Withdrawal of EVC facility extended to companies for filing GSTR1 and GSTR3B
24 October 2020 at 11:31The facility to file GSTR 3B and GSTR-1 with the EVC in lieu of DSC extended to the registered person, who are also registered under the Companies Act, 2013, shall be withdrawn w.e.f. 1st Nov. 2020.
Extension of IT, GST Audit & Return Filing Dates requested by six leading CA Associations
22 October 2020 at 10:24The six leading Chartered Accountants' Societies of India have made a representation to the Finance Minister Smt. Nirmala Sitharaman to extend the due dates for filing of returns for AY 2020-21.
FM requested to take notice of Late Fees, Departmental Audit, Rule 36(4), and other GST Provisions amidst COVID-19
21 October 2020 at 16:31AIMTPA team has made a request to the FM stating prevalent issues that are being faced by taxpayers and professionals regarding GST. FM requested to take notice of Late Fees, Departmental Audit, Rule 36(4), and other GST Provisions amidst COVID-19.
GoI borrowing calendar modified to meet GST Compensation Cess shortfall of Rs. 1,10,000 crores
16 October 2020 at 16:55To operationalize the Special Window to States for meeting the GST Compensation Cess shortfall of` Rs. 1,10,000 crore the GoI borrowing calendar is being modified in consultation with RBI.
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