13 Feb 2025 06:27 PM
New

Decline in West Bengal’s GST Share and Government Response

Source: https://taxguru.in/goods-and-service-tax/decline-west-bengals-gst-share-government-response.html

West Bengal’s share in national GST collections has declined from 4.6% in 2019-20 to 4% in 2024-25, despite an increase in absolute revenue. Factors influencing GST revenue include economic conditions and consumption patterns, though no specific study has been conducted on the state. To improve collections and compliance, the government has introduced measures such as mandatory e-way bills, ITC matching, e-invoicing for B2C suppliers, Aadhaar authentication, and AI-driven analytics. Actions against tax evasion include suspending fraudulent registrations, blocking ITC, and enforcing penalties. Enforcement conferences have also been held to streamline anti-evasion efforts while maintaining business ease.

13 Feb 2025 05:50 PM
New

Bogus companies, fake invoices: ₹1,196 crore GST fraud unearthed by DGGI Pune Zonal Unit; check details

Source: https://www.livemint.com/economy/bogus-companies-fake-invoices-rs-1-196-crore-input-tax-credits-gst-fraud-unearthed-by-dgci-pune-zonal-unit-11739366592197.html

The Pune Zonal Unit of DGGI has uncovered a GST evasion scheme involving ₹1,196 crore, arresting one individual. A director of a private firm based in Muzaffarnagar as been identified as the mastermind behind the operation.

13 Feb 2025 06:03 PM
New

Government’s Approach to Future GST Reforms in India

Source: https://taxguru.in/goods-and-service-tax/governments-approach-future-gst-reforms-india.html

In response to an unstarred question in Rajya Sabha on February 11, 2025, the Ministry of Finance addressed the government’s approach to potential GST reforms. The government stated that any changes to the GST framework are made based on the recommendations of the GST Council, a constitutional body under Article 279A. It acknowledged industry concerns and emphasized its commitment to reducing compliance burdens, simplifying tax procedures, and enhancing the ease of doing business. Several recent measures have been implemented following GST Council recommendations, including a retrospective amendment to Section 16(4) of the CGST Act, 2017, extending the time limit for availing input tax credit for past financial years. Additionally, Section 128A has been introduced to waive interest and penalties for certain tax demand notices if dues are cleared by March 31, 2025. Further, amendments to Sections 107 and 112 have reduced pre-deposit requirements for GST appeals. For small businesses, the mandatory registration requirement for intra-state supply through e-commerce operators has been conditionally waived from October 1, 2023, allowing composition taxpayers to make intra-state supplies under specified conditions. The government continues to assess stakeholder suggestions to improve GST implementation.

13 Feb 2025 06:16 PM

GST on Leased Properties: Government’s Position and Changes

Source: https://taxguru.in/goods-and-service-tax/gst-leased-properties-governments-position.html

The government has no plans to roll back the 18% GST on leased properties, which has been in place since GST’s introduction in 2017. The GST Council, in its 54th meeting, recommended shifting the tax on non-residential property leases from forward charge to reverse charge basis. However, concerns arose regarding the financial burden on composition taxpayers, who cannot claim input tax credit. In response, the 55th GST Council meeting on December 21, 2024, recommended excluding composition taxpayers from this requirement. Consequently, Notification No. 07/2025-CT(R) was issued on January 16, 2025, exempting them from reverse charge obligations on leasing services received from unregistered persons. The Central Government does not maintain nationwide data on leased properties.

13 Feb 2025 06:19 PM

GST Simplification Efforts and MSME Compliance Relief

Source: https://taxguru.in/goods-and-service-tax/gst-simplification-efforts-msme-compliance-relief.html

The Indian government refutes claims that GST complexities hinder business operations, stating that the tax structure follows GST Council recommendations, comprising four main slabs—5%, 12%, 18%, and 28%—with additional special rates for specific goods. Measures have been taken to counter GST fraud, including special drives in 2023 and 2024, leading to the detection of fake registrations and tax evasion cases. To support MSMEs, exemptions from GST registration apply to small businesses based on turnover, and simplified compliance schemes, such as the Composition Scheme and QRMP, have been introduced. Additionally, retrospective amendments and penalty waivers aim to ease compliance burdens.

13 Feb 2025 06:24 PM

Exemption of GST On Health & Life Insurance Premium

Source: https://taxguru.in/goods-and-service-tax/exemption-gst-health-life-insurance-premium.html

The Government of India recently addressed questions regarding the exemption of GST on health and life insurance premiums to improve affordability for middle and lower-income groups. GST rates and exemptions are determined by the GST Council, a constitutional body. During its 54th meeting on September 9, 2024, the Council discussed GST on insurance and recommended forming a Group of Ministers (GoM) under Bihar’s Deputy Chief Minister, Sh. Samrat Chaudhary. The GoM is tasked with a comprehensive review of GST on life and health insurance. At the 55th GST Council meeting on December 21, 2024, the GoM requested additional time to finalize its recommendations.

12 Feb 2025 06:28 PM

GST Taxpayers, Stay Alert: Protect Against GST Phishing Scams

Source: https://taxguru.in/goods-and-service-tax/gst-taxpayers-stay-alert-protect-gst-phishing-scams.html

The Goods and Services Tax Network (GSTN) has issued a crucial alert regarding a surge in phishing attacks targeting GST taxpayers. These attacks aim to steal sensitive personal and financial information, potentially leading to fraud and financial loss. This article details the nature of these phishing attempts, provides tips on how to identify them, and outlines the steps you can take to protect yourself.

12 Feb 2025 05:57 PM

Toyota India head's tax sop pitch: don't make consumers pay more for cleaner vehicles

Source: https://www.livemint.com/companies/toyota-kirloskar-india-lower-tax-gst-evs-hybrid-vehicles-flex-fuel-hydrogen-fuel-cell-11739272829922.html

New Delhi: Tax incentives for green mobility should continue for the benefit of consumers, according to the India head of Toyota Kirloskar Motor Pvt. Ltd, as the company continues to focus on electric and ethanol-powered vehicles.

11 Feb 2025 06:19 PM

Tax officers told to give relief to businesses on GST interest, penalty

Source: https://www.livemint.com/economy/cbic-officers-told-to-give-relief-to-businesses-on-interest-penalty-on-tax-dues-11739198687732.html

NEW DELHI : The Central Board of Indirect Taxes and Customs (CBIC) has told field officers that businesses which have paid tax dues in time are eligible for relief on interest and even penalty where the department has gone on appeal.

10 Feb 2025 06:03 PM

GST evasion of ₹1.88 lakh cr detected by CGST officers during April-Dec 2024

Source: https://www.livemint.com/focus/gst-evasion-of-rs-1-88-lakh-cr-detected-by-cgst-officers-during-april-dec-2024-11739182702014.html

New Delhi, Feb 10 (PTI) GST evasion of over ₹1.88 lakh crore was detected by Central GST officers during April-December 2024, the Lok Sabha was informed on Monday.