GST Ready India

GST Ready India’s Latest News and Updates

Government flags mistakes made by embassies claiming GST refunds

Nov 10, 2018

Ecommerce firms in a fix as tax collected at source deadline nears

With barely two days to go, India’s ecommerce sector is struggling to comply with the directive to deduct tax at source on all payments made to their sellers and deposit it with the government.

This is because a number of them have not been able to register for collections of tax at source (TCS) as some states are insisting that ecommerce companies have a brick and mortar office within their jurisdiction.

This goes against a clarification issued in the form of FAQs by the Centre that the said registration could be done with a head office address and ecommerce players will not require a brick and mortar space in every state. Click to read more

Two Days From Deadline, Ecommerce Cos Struggle To Comply With Tax Rule

Ecommerce companies are in a fix as they reportedly struggle to comply with a November 10 deadline to deposit tax collected at source on all payments made to their sellers in the last month.

The Tax Collected at Source (TCS) provisions, introduced as a part of Section 52 of the Central GST Act, states that tax has to be collected by the ecommerce operator when a supplier supplies some goods or services through its portal and the payment for that supply is collected by the ecommerce operator. The deadline which has less than two days to go, has been deferred repeatedly following requests by ecommerce players. Click to read more

GST refunds of Rs 82,775 cr to exporters cleared; Rs 5,400 cr pending as on October 31

The finance ministry said that GST refund of Rs 82,775 crore to exporters has been cleared as on October 31, which is 93.8 percent of the total such claims with the tax authorities.

In a statement, the ministry said Rs 5,400 crore worth GST refund is still pending with the government and that is being “expeditiously processed”.

“As on October 31, 2018, total GST refunds to the tune of Rs 82,775 crore have been disposed by the Central Board of Indirect Taxes and Customs (CBIC) and the state authorities out of the total refund claims of Rs 88,175 crore received so far,” the ministry said. Click to read more

Government flags mistakes made by embassies claiming GST refunds

The government on Friday issued an advisory flagging common mistakes made by consulates, embassies and UN organizations while filing for refund of Goods and Services Tax (GST) paid, resulting in delay or rejection of claims.

“There are common discrepancies which have been noticed by the GST authorities while processing refund applications,” the Ministry of Finance said in a statement.

The GST Act provides for allotting a Unique Identification Number (UIN) to consulates, embassies and UN organizations for claiming GST refunds. For claiming refunds, they have to file Invoice Level Data in their Form GSTR-11 on the common portal. Click to read more

GST special helpdesks set up

The GST and Central Excise Department has established GST Special Helpdesks in Tiruvallur and Vellore districts in Tamil Nadu to assist micro, small and medium enterprises (MSME) in all matters relating to Goods and Services Tax (GST).

Support for MSMEs

This is part of the Government of India’s initiative to support and reach out to MSMEs in 80 districts.

According to a press release, the officers at the helpdesks will also help the MSMEs in overcoming technical difficulties in paying tax, availing input tax credit and claiming GST refunds. Click to read more

GST, demonetisation caused huge loss: Rahul

In a scathing attack on Prime Minister Narendra Modi, Congress President Rahul Gandhi on Friday said the Goods and Service Tax (GST) and demonetisation caused a huge loss to the economy.

Speaking at election rallies in Kanker and Rajnandgaon in poll-bound Chhattisgarh, Gandhi also accused the government of using the Maoist issue to divert attention from corruption and unemployment.

“Modiji is talking about Naxalites in his Bastar rally. But he is silent over corruption and unemployment,” Gandhi said.

Taking a jibe at Modi, Rahul said: “Before the Lok Sabha election, he (Modi) had promised Rs 15 lakh to every citizen and employment to 2 crore youth. But after the election, he asked the people to pick up the broom and start cleaning.” Click to read more

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