Tax authorities to tighten the screw on traders to increase GST collections
In the wake of falling GST collection in October, tax authorities are set to tighten the screw on traders and retailers along with ensuring strict enforcement of tax laws by putting in place a localised strategy that will include heightened surveillance, search and raids, According to the report, the authorities have come across ground reports …
Input Service Distributors can now file GSTR 6 on GST portal
Input Service Distributors can now file monthly return form GSTR 6 for July to distribute input tax credit among their units registered on the GST portal. The last date for filing of GSTR 6 return for July is December 31. The functionality for monthly return (GSTR 6) to be filed by the Input Service Distributors …
Government hints at reviewing rates in top GST bracket
After slashing the GST rates of over 200 items in November, the government on 9th December hinted at reviewing levies on the items in the top 28 per cent tax bracket. On November 10, the GST Council, headed by finance minister Arun Jaitley, had lowered Goods and Services Tax (GST) rates on over 200 items, …
Empowered panel of FMs to meet on December 14
The Empowered Committee of State Finance Ministers will meet in New Delhi on December 14 to discuss State-wide strategies for liquor, petrol and diesel and stamp duty which are State revenue sources outside the Goods and Services Tax (GST). In the wake of proposals to bring petrol and diesel too under the GST purview, the …
Law Review Committee to examine GST report on December 13th and 14th
The Law Review Committee will examine the report of the expert committee that called for simplification of the Goods and Services Tax including the Act. The recommendations of the Advisory Group have been referred to the Law Review Committee, consisting of senior officers of the Central and the State Governments, which, in turn, will examine …
Crucial Meeting of the GST Council on 6th October 2017 to decide on relief to small tax payers, Reverse charge mechanism, increasing limit for composition dealers and GST tax rate cut on certain goods and services
About 60 goods and services are likely to get cheaper, with Finance Minister Arun Jaitley expected to push for big tax rate cuts in the GST Council meeting on 6.10.2017
Ministerial panel on GSTN to meet on Saturday to iron out glitches
With a slew of reported glitches in the Goods and Services Tax Network (GSTN, the ministerial panel on the subject will meet on 16th September 2017 in Bengaluru to examine the information technology (IT) challenges plaguing the uniform tax regime. The committee, chaired by Sushil Modi, deputy chief minister and finance minister of Bihar, was …
Government extends filing of GSTR 1 for July till October 10th
Following are the Recommendations made by the GST Council in the 21st meeting at Hyderabad on 9th September, 2017. a) In view of the difficulties being faced by taxpayers in filing returns, the following
GST implementation committee extends GSTR1 filing date to September 10th
The Government has decided to extend the deadline for filing detailed indirect tax returns for July, giving taxpayers extra time for compliance. “GST implementation committee decides to extend date of
GSTN asks taxpayers to file returns early
Goods and Services Tax Network (GSTN) has asked taxpayers to upload their invoices on an everyday basis and file their returns early and not wait for the last day to have a smoother transition into the new GST regime.