The Haryana Government is hoping to partly recover outstanding dues of nearly Rs 30,000 crore from traders by offering a one-time settlement (OTS) scheme for the resolution of pending VAT cases from the pre-GST era.
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The state government has taken several ambitious steps to ensure financial discipline with a motive for improving the economic health of the state. Many new initiatives have been taken in every sector, to curb the wasteful expenditure.
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The 16th Finance Commission will have a tough task, primarily because the mismatch between the resource mobilisation by the Centre and state governments and the rising requirements of spending of public monies on socio-economic development and critical infrastructure creation refuses to go away.
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Increasing the ambit of amnesty scheme in Goods and Services Tax (GST) allowing an additional window to file appeals against demand orders by extending the cut-off date and including more cases will help in doubling the number of beneficiaries, said experts.
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The number of informal micro units (IMEs), which are not covered under the Goods and Services Tax (GST) regime or exempted from the CGST Act, 2017, registering for the Udyam certificate via the government’s Udyam Assist Platform (UAP) to be eligible for priority sector loans (PSL) has crossed the 1-crore mark. At the time of filing this report, 1.01 crore IMEs were Udyam-registered, according to the data from the Udyam portal.
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Another case of Goods and Services Tax (GST) authorities cancelling the registration of a company without allegedly following the rules has come to the fore.
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The GST Portal Services will not be available until November 26, 2023, at 11 AM. “We shall be enhancing services on the GST portal with a major upgrade activity on 25th NOV 8:00 PM onwards. GST Portal services will not be available until 26th NOV 11 AM. The inconvenience caused is regretted.”
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The government plans to amend the CGST Act in the winter session of Parliament that will allow advocates with experience in litigation to be appointed as judicial members in GST appellate tribunal benches.
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Do You know you can fall prey to fake GST Invoice Scams? Yes, you heard me right. Scammers these days are creating fake GST bills to dupe people. A fake GST bill is generated without actual payment of GST or supply of goods or services. There are several reasons behind fake GST invoice generation by fraudsters including tax evasion, money laundering, fake purchases, converting income tax credit into cash, and more.
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The Madras high court has held that the GST council’s role, particularly in product classification, is only recommendatory.
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The economic offences wing (EFW) of Surat police has nabbed two persons who had bought bogus firms to take illegal advantage of input tax credit (ITC) of GST. The two have been identified as Shoban Kureshi and Umang Patel.
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With no clear notification or guidelines from the government regarding exempting rig/borewell operations used for agricultural activities from GST, farmers were forced to bear the huge burden of paying 18% GST, said Rig Owners and Agents Welfare Association, Madurai.
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Deltatech Gaming Limited, a subsidiary of listed gaming and hospitality company Delta Corp Limited, has filed a writ petition in connection with the showcause notice of Rs 6384 crore served to the company by the DGGI on October 13.
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The CGST (Central Goods and Services Tax) Commissionerate, Gurugram, today i.e. November 20, 2023 held an interactive session with stakeholders. It was aimed at assessing problems faced by taxpayers.
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In the case related to seeking permission for filing revised return under GST regime, respondents Union finance ministry, GST Council of India and Central Board of Indirect Taxes and Customs (CBIC) failed to file the reply within the stipulated 30 days before the double bench of Supreme Court, on Monday.
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The Colgate-Palmolive (India) share opened flat on the National Stock Exchange on November 22, 2023 a day after the company informed exchanges about the tax department search at its Chennai warehouse and Rs 1 lakh GST penalty.
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The Central Goods and Services Tax (CGST) Delhi East Commissionerate has busted a syndicate of 48 interconnected fake firms availing fraudulent ITC of over Rs199 crores in “Operation Clean Sweep”.
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ST authorities may take some time to introduce faceless scrutiny assessment of tax returns filed under Goods and Services Tax (GST), a senior official said on Wednesday. The faceless assessment — under which there is no physical interaction between the tax officer and the assessee and no physical submission of documents — was first introduced by the Income Tax department and later extended to Customs.
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The Directorate General of GST Intelligence has issued Goods and Services Tax (GST) demand notices to food aggregators Zomato & Swiggy, a news report said on Wednesday.
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The Delhi High Court has on 16 November 2023 observed that the Tax Research Unit (TRU) of the Ministry of Finance has not been clothed with the authority or jurisdiction to render a clarification with respect to classification of goods.
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Shares of Kotak Mahindra Bank slipped 0.7 percent to Rs 1,752.55 in early trade on November 20 after the Maharashtra GST department slapped a penalty of around Rs 35 lakh.
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