Tag: GST
GSTN: New functionality on Annual Aggregate Turnover deployed on GST Portal
GSTN has implemented a new functionality on taxpayers’ dashboards on GST Portal with the following features: The taxpayers can now see the exact Annual Aggregate Turnover (AATO) for the previous FY, instead of just the two slabs of Above or Upto Rs. 5 Cr. The taxpayers can also see the Aggregate Turnover of the current […]
Read morePapad is papad, irrespective of size and shape : Gujarat AAR
Gujarat AAR: Papad appears to be the flavor of the season for Gujarat’s Authority of Advance Rulings (GAAR), whose recent judgment said that this wafer-like product is exempt from GST even if its shape and size changes. With this, GAAR has resolved at least four applications regarding the applicability of GST on papad /unfried-fryums. In […]
Read moreGST registration with a virtual office, is it possible?
A virtual office is a full-fledged office, but in reality, it doesn’t exist physically. The virtual office is good for those who can’t afford to have physical office. This is possible only because of advanced technology, you will have an office, call or service center where actually no person exists, its the specialty due to which now a days people are shifting towards it. […]
Read moreGST amnesty scheme will be easy, those with cancelled registration can get a chance
Businesses that have been unable to benefit from the amnesty scheme due to the termination of their GST registration will soon be able to do so. According to sources, the Finance Ministry is considering restoring such traders’ registration. Read Also: GST Weekly Update: Goods and Service Tax July 2021 On August 31, the GST amnesty programme […]
Read moreGST Amnesty Scheme 2021- Full Guide
GST Amnesty scheme 2021 was announced in 43rd GST Council Meeting. Notification No. 19/2021- Central Tax dated 1st June 2021 notified this scheme which waives off late fees that was payable by taxpayers. Taxpayers can now file their pending returns without any high penalty and avail the benefits of this GST Amnesty scheme with reduced […]
Read moreKarnataka AAR: GST would be charged on the difference between the purchase and selling price of used gold jewellery
The difference between the buying price and the selling price of second-hand jewellery will constitute the amount for levying Goods and Services Tax, according to Karnataka’s Authority for Advance Ruling (AAR) (GST). This judgement, according to experts, will provide a great deal of clarity on taxation and will also benefit buyers. Aadhya Gold Private Limited, […]
Read moreKerala AAR: Houseboat services are subject to an 18% GST duty, but there is an ITC available
Kerala’s tourism industry is defined by houseboats gliding through the backwaters. The GST-Authority for Advance Rulings (AAR), Kerala court, has ruled that the 18 percent Goods and Services Tax (GST) will apply to cruises, whether day trips or overnight journeys. EVM Motors and Vehicles, a car dealership that had expanded into the hospitality industry, requested […]
Read moreTo detect tax evasion and fraud, GST officers use radio frequency data
GST officials are now comparing details provided at the time of producing e-way bills for goods movement with the actual movement of vehicles captured at toll plazas to identify vehicles that pose a danger of revenue leakage. GST officials are now comparing details provided at the time of producing e-way bills for goods movement with […]
Read moreGST Revenue collection for June 2021
₹ 92,849 crore gross GST revenue collected in June’ 2021 The gross GST revenue collected in the month of June’ 2021 is₹92,849 crore of which CGST is ₹16,424 crore, SGST is ₹20,397, IGST is ₹49,079 crore (including ₹25,762 crore collected on import of goods) and Cess is ₹6,949 crore (including ₹809 crore collected on import of goods).The above figure includes GST collection from domestic transactions between 5thJune […]
Read moreGST Registration : Functionality to check misuse of PAN
To address the complaint related to misuse of PAN for obtaining GST registration, a functionality to register such complaints on GST Portal has been introduced. It will check the misuses, control the frauds and help officers in enquiry and cancellation of such registration. Once complaint is registered, it will be sent to the concerned jurisdictional […]
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