18 Apr 2022 06:26 PM
New

GST Council to mull proposal to do away with 5% rate next month.

Source: https://www.livemint.com/economy/gst-council-to-mull-proposal-to-do-away-with-5-rate-next-month-see-details-11650175759584.html

Discussions are on to raise the 5% slab to either 7 or 8 or 9%, a final call will be taken by the GST Council which comprises finance ministers of both Centre and states, as per sources

12 Apr 2022 06:09 PM
New

GST compensation: Some states may get relief package

Source: https://economictimes.indiatimes.com/small-biz/gst/gst-compensation-some-states-may-get-relief-package/articleshow/90792470.cms

The Centre may offer a special package to states to tide over financial difficulties as the compensation regime for the goods and services tax (GST) ends in June this year after the agreed five-year period.

12 Apr 2022 06:18 PM
New

2- Factor Authentication for e-Way Bill and eInvoice System

Source: https://taxguru.in/goods-and-service-tax/2-factor-authentication-e-way-bill-einvoice-system.html

To enhance the security of the e-Way Bill/e-Invoice System, NIC is introducing 2-Factor Authentication for logging in to the e-Way Bill/e-Invoice system. In addition to username and password, OTP will also be authenticated for login. There are 3 different ways of receiving the OTP. You may enter any of the OTP and login to system.

12 Apr 2022 06:21 PM

One arrested by DGGI Gurugram officials for fraudulently availing IITC

Source: https://taxguru.in/goods-and-service-tax/arrested-dggi-gurugram-officials-fraudulently-availing-itc.html

One arrested by DGGI Gurugram officials for fraudulently availing Input Tax Credit of more than Rs 16 crore

Read more at: https://taxguru.in/goods-and-service-tax/arrested-dggi-gurugram-officials-fraudulently-availing-itc.html
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11 Apr 2022 06:19 PM

Companies likely to face stiff queries from GST authorities

Source: https://economictimes.indiatimes.com/small-biz/gst/companies-likely-to-face-stiff-queries-from-gst-authorities/articleshow/90771564.cms

CBIC chairman Vivek Johri has written to field formations asking them to ensure scrutiny is conducted in a time-bound manner. "Zonal chiefs may like to have the data examined and suitably taken up as per the prescribed SoP (standard operating procedure) in a time-bound manner," Johri said in a letter, dated April 4, seen by ET.

11 Apr 2022 06:27 PM

One person arrested for bogus ITC claim from fake bills of Rs.102 Crores

Source: https://taxguru.in/goods-and-service-tax/one-person-arrested-bogus-itc-claim-fake-bills-rs-102-crores.html

Maharashtra State GST Department arrests one person for bogus ITC claim from fake bills of Rs.102 Crores

The Maharashtra State GST department arrested one person for bogus ITC claim worth Rs.14 crore from fake bills of around Rs.102 crore. The department has also been able to get revenue of Rs. 8 Crore from the suppliers linked to M/s. Cermix. As a part of Special Anti-Evasion Drive by Maharashtra Goods & Service Tax Department against the fraudsters and tax evaders, Proprietor of M/s. Cermix has been arrested on 07/04/2022, for generating, availing and utilising fraudulent GST Input Tax Credit (ITC) of Rs.14 Crores from bogus invoices of Rs.102 Crores.

11 Apr 2022 06:33 PM

Proposed Amendments in CGST Act 2017

Source: https://taxguru.in/goods-and-service-tax/proposed-amendments-cgst-act-2017.html

Amendments in GST Acts

♦ Certain changes have been proposed in the CGST Act through Finance Bill, 2022 based on the recommendations made by the GST Council.

♦ The Amendments pertaining to GST law are mainly in Clause 99 to 113 of the Finance Bill, 2022, which will come into effect from a date to be notified in coordination with the States and Union Territories with the legislature.

09 Apr 2022 04:30 PM

New Functionalities for Taxpayers on GST Portal in March, 2022

Source: https://taxguru.in/goods-and-service-tax/new-functionalities-taxpayers-gst-portal-march-2022.html

Article explains about New Functionalities made available for Taxpayers on GST Portal (March, 2022) which are related to Creation of link for Manipur, Enhancements made in the Search Taxpayer functionality, mandatory Aadhaar authentication/ Aadhaar enrolment ID for Form GST REG-21, Form GST CMP-02, Changes made on the portal for composition taxpayers engaged in supply of Hotel and Restaurant Services, Integration of MMI (Map my India) in address field for Registration applications, Changes in Table 4 (A) of Form GSTR-3B, Displaying payment liability ratio & its calculation and providing Form GST DRC-03 link etc.

07 Apr 2022 06:20 PM

No Discrepancies in payment of GST to States

Source: https://taxguru.in/goods-and-service-tax/discrepancies-payment-gst-states.html

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA UNSTARRED QUESTION NO-5137 TO BE ANSWERED ON MONDAY, THE 4th APRIL, 2022

06 Apr 2022 06:13 PM

CGST ghaziabad arrested mastermind of GST fraud of Rs. 783 crs

Source: https://taxguru.in/goods-and-service-tax/cgst-ghaziabad-arrested-mastermind-gst-fraud-rs-783-crs.html

CGST ghaziabad arrested the mastermind in follow up of an earlier case involved in GST fraud of Rs.783 crs. in value & fake ITC of approx 137 crs. by creating 76 bogus firms in connivance with 2 other persons using multiple PAN, mobile no etc. 3 persons have been arrested so far.