News & Update

December 9, 2019
Restructure GST Rates

Government to restructure GST rates and cess to boost revenue

In the midst of a slowing economy, with the lowest growth of 4.5% in the second quarter in over six years, the government is working on multiple measures to boost […]
December 6, 2019
IT-enabled services

CBIC withdraws GST circular on taxing IT-enabled services

In a major relief to companies, especially multinational ones, the Central Board of Indirect and Custom (CBIC) has decided to withdraw a circular on the scope of information technology-enabled services […]
December 5, 2019
e-way bill generation

What to do if your e-way bill generation facility is blocked?

To curb tax evasion and non-filing of GST returns, the government has implemented the blocking of the e-way bill generation facility, with effect from December 2, 2019. Taxpayers who have […]
December 4, 2019
GST Revenue

GST Council to review revenue concerns on the next meeting

On its next meeting on December 18, the GST Council is expected to discuss various revenue-raising measures including review of the tax structure, and an alternative mechanism for compensation cess. […]
December 3, 2019
e-way bill generation

GSTN blocks e-way bill generation for non-filers

GST Network (GSTN), an organization responsible to provide the IT infrastructures for the Goods and Services Tax (GST), has activated the blocking-unblocking facility for the e-way bill generation. As many […]
December 2, 2019
GST Revenue November

GST revenue mop-up in November crosses ₹1 Lakh Crore mark

After two months of decline, Goods and Services Tax (GST) collection crossed the ₹1 Lakh Crore mark in November with the revenue growing by 6% to ₹1.03 trillion in the […]
November 29, 2019
GST e-invoicing

GST e-invoicing must for medium-to-large businesses from April

Starting from April 1 next year, electronic invoicing (e-invoicing) will be mandatory for all businesses with a turnover of ₹100 Crore or more. The new system of generating e-invoices in […]
November 28, 2019
GST lottery scheme

Government planning a new lottery scheme for GST payers

The Ministry of Finance is planning to introduce a lottery scheme to lure taxpayers to pay Goods and Services Tax (GST). According to a senior government official, this will be […]
November 27, 2019
GST News

Authorities unearth racket involving GST fraud of ₹140 Crore

Goods and Services Tax (GST) authorities have unearthed a tax racket that allegedly defrauded the government of about ₹140 Crore through fraudulent means. In a release, the Central Board of […]
November 26, 2019
GST-leakage

Purchase without bill identified as a major source of GST leakage

At the first national GST conference on Monday, the issue of consumers often paying in cash without taking a bill was identified as a key source of leakage of Goods […]
November 25, 2019
Red-flags-in-GST-returns

System generated red flags in GST returns worries taxpayers

Many taxpayers registered under Goods and Services Tax (GST), especially small firms, are worried these days of system-generated red flags being shown in their online return forms. Little time is […]
November 22, 2019
GST News

Five traders booked for GST fraud of almost ₹6 Crore

The district police in Ambala booked five traders for committing fraud by registering non-existent firms with the Goods and Services Tax (GST) portal. According to the Excise and Taxation Department, […]
November 21, 2019
GST compensation

States concerned over delay in GST compensation

Five states – Delhi, Punjab, Kerala, West Bengal, and Rajasthan – released a joint statement urging the central government to immediately clear the pending GST compensation for the August-September period. […]
November 20, 2019
Input tax refunds

CBIC issues circular easing input tax refunds for exporters

The Central Board of Indirect Taxes and Customs (CBIC) has directed tax officials to not insist on proof of realization of export proceeds while processing the input tax refunds. Since […]
November 20, 2019
GST News West Bangal

Four arrested for GST Fraud of ₹500 Crore in West Bengal

Four men were arrested by the department of central goods and services tax and central excise (Kolkata South) for making fraudulent GST claims. They were claiming input tax credits (ITC) […]
November 18, 2019
GST Simplify

Finance Minister holds meeting to simplify GST

With a view to simplifying GST and making the filing process more user-friendly, Finance Minister Nirmala Sitharaman held a meeting with chartered accountants, traders and other stakeholders on Saturday. In […]
November 13, 2019
GST Return

Centre to block e-way bill generation for GST return non-filers

In an attempt to curtail tax leakage and concerned with the continuous decline in monthly revenue of Goods and Services Tax (GST), the government and indirect tax department are planning […]
November 12, 2019
new GST input tax credit rules

CBIC issues circular on new GST input tax credit rules

As a huge relief for taxpayers, the Central Board of Indirect Taxes and Customs (CBIC) on Monday issued a circular to clarify the new rules related to claiming the tax […]
November 11, 2019
E-Invoicing

Everything you need to know about E-invoicing

Starting from January 2020, the Goods and Services Tax (GST) Council has proposed implementing electronic invoicing (e-invoicing) on a voluntary basis. To date, there are no standards set for e-invoicing […]
November 8, 2019
GST News

Govt to discuss measures to curb GST evasion on Monday

In a first-of-its-kind interaction, delinked from the agenda of the Goods and Services Tax (GST) Council meeting, tax officers from the states and the Centre are set to discuss administrative, […]

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