GST Ready India

GST Ready India’s Latest News and Updates

GST dues: Exporters want Govt to organise 4th tranche of special refund fortnight

Oct 10, 2018

No centre-state wall: Officials handling GST can assess all

The government has clarified that both the state and central authorities handling the goods and services tax have enforcement powers over all assessees in a state, triggering fears that the industry may get caught in a crossfire between the two.

The central tax and state tax authorities are allowed to initiate intelligence-based enforcement action on the entire taxpayer base, irrespective of the administrative assignment of the taxpayers to any authority, Central Board of Indirect Taxes and Customs member Mahendra Singh wrote to officials, citing the minutes of a meeting of the Goods and Services Tax Council. Click to read more

Beware! Jurisdiction no issue for GST Enforcement Action on evaders

The CBIC has asked tax officials of the Centre as well as State Governments to initiate enforcement actions against GST evaders irrespective of jurisdiction with a view to checking revenue leakage that would even act against the GST evaders in Jammu and Kashmir.

The Central Board of Indirect Taxes and Customs (CBIC), in a communication to the field formations, has said that “intelligence based enforcement action” against a taxpayer can be initiated by Central and state officials even if the assessee does not fall under the official’s jurisdiction. Assessees in Jammu and Kashmir should not feel of having any protection of Jurisdiction by CBIC being in a state have special status. Click to read more

Mallikarjun Kharge for CAG audit of DeMo, GST, defence purchases

The CAG should not shy away from holding the government accountable for decisions like demonetisation, GST that has caused serious economic distress, and defence purchases, PAC Chairman and Congress leader Mallikarjun Kharge said Wednesday.

He also made a case for audit of public private partnership (PPP) projects by the Comptroller and Auditor General of India (CAG) saying that developments surrounding IL&FS reveal that lack of scrutiny can put the country’s financial system at risk. Click to read more

Jurisdiction of taxpayer should not hamper GST enforcement action: CBIC

The CBIC has asked tax officials of the Centre as well as state governments to initiate enforcement actions against GST evaders irrespective of jurisdiction with a view to checking revenue leakage.

The Central Board of Indirect Taxes and Customs (CBIC), in a communication to the field formations, has said that “intelligence based enforcement action” against a taxpayer can be initiated by Central and state officials even if the assessee does not fall under the official’s jurisdiction. Click to read more

GST dues: Exporters want Govt to organise 4th tranche of special refund fortnight

Exporters have asked the government to organise the fourth tranche of its special refund fortnight to clear all the dues under the Goods & Services Tax (GST) regime as the pending claims were affecting their cash flow and competitiveness in the global market.

“Refund of IGST (Integrated GST) worth ₹ 8,000 crore and input tax credit (ITC) worth ₹ 15,000 crore are yet to be paid to exporters and it is causing a liquidity problem. In our meeting with Commerce Minister Suresh Prabhu and senior officials from the Ministry, we have urged that urgent steps should be taken to clear the dues such as organising another clearance fortnight,” FIEO President Ganesh Kumar Gupta said at an interaction with the media on Wednesday. Click to read more

Experts, doctors urge GoM, GST council, to raise cess on tobacco products

Public health groups along with doctors and economists have urged the Group of Ministers in the GST Council to increase cess on tobacco products to raise the much-needed disaster remediation revenue.

Experts said global experience has shown that such a tax increase will decrease tobacco use and expand government revenue.

Imposing additional cess on all tobacco products, including bidis, will be a huge win for public health and revenue generation, Bhavna B Mukhopadhyay, chief executive of Voluntary Health Association of India, said. Click to read more

From Maggi to Lifestyle Retail: Three instances where GST watchdog showed ‘consumer is king’

After penalising multi-brand retailer Lifestyle International and home-builder Pyramid Infratech, the National Anti-profiteering Authority (NAA) on Tuesday penalised a dealer based out of Uttar Pradesh for inflating the base price of Maggi instant noodles to deny consumers the benefit arising out of GST cut to 12 percent from 18 percent.

In the latest incident, the complaintaint, a Maggi retailer, claimed that the dealer has profiteered by selling at ‘Maggi noodles pack of 35 gram’, PTI reported. In its order, NAA asked the dealer to deposit Rs 90,778 plus an interest of 18 percent per annum to the consumer welfare fund of Rs 2,253 to the complainant. Click to read more

GoM on calamity tax under GST to meet on Oct 15

The ministerial panel under Bihar Deputy Chief Minister Sushil Modi will meet on October 15 to examine the modalities for revenue mobilisation by levying additional tax under the GST in case of natural calamities.

“The GoM on levying of tax or cess for funding natural calamity or disaster would meet on October 15,” an official told.

Last month, Kerala had mooted a plan for imposition of a cess on goods and services sold within the state to help it tide over the losses suffered due to the recent flood before the GST Council. Click to read more

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