IGST

The Glitchy History of India’s GST Network

The ownership and implementation shortcomings of the digital tax network have persisted for much longer, and go much deeper, than the finance minister would care to admit. Speaking at the 70th annual general meeting (AGM) of the Indian Banks’ Association last week, finance minister Arun Jaitley announced that the enforcement of the Goods and Services Tax (GST) regime has […]

‘Maintenance of records is compulsory under GST’

MIDC Industries Association (MIA) conducted an educative seminar on GST for the members of the Association. The seminar was organised at MIA House. The faculties were CA Kirti Agrawal, CA Shambhu Tekriwal, trade representative of NVCC and Director of NCCL, CA Rakesh Agrawal and CA Eshuji Jain. Speaking on the occasion, CA Kirti Agrawal threw […]

EEPC urges govt to refund 90% GST refunds to exporters

Mumbai: Engineering exporters’ apex body EEPC India has urged the government to intervene and push for the release of at least 90 per cent of GST refunds to exporters immediately after the shipping bills are filed with the authorities. “We strongly recommend a ‘war room’ for exports as well as suggested by the Commerce and Industry Minister Suresh […]

Government extends deadline for filing GST returns

Due to sudden surge in filing of returns that led overload GST network. The IT backbone for GST extended the date for filling of returns. GSTR 1 has been extended to September 10 against the earlier deadline of tomorrow. Subsequently, filling of GSTR 2 and GSTR 3 has been extended to September 25 and 30 […]

GST evasion worth lakhs detected in crackdown against ‘Peti’ mafia

Ludhiana: In a major crackdown on the ‘Peti’ mafia at the railway station, the investigation wing of excise and taxation department Punjab on Thursday seized 245 cartons of incoming goods, offloaded from three trains, which were being transported into Ludhiana without paying taxes. In the process, the department detected tax evasion worth lakhs, claiming it […]

West Bengal achieves highest percentage of enrolment

According to data available with the CII, VAT migration in West Bengal looks impressive at 86.6 per cent. Kolkata: West Bengal has achieved the highest percentage (91 per cent) of enrolment in GST through the Central Board of Excise and Customs (CBEC) among the states in India till date, while Kolkata ranks third among Indian […]

President Pranab Mukherjee approves 4 GST legislations

President Pranab Mukherjee has approved four key legislations of the Goods and Services Tax (GST) bill, that were recently passed by the Rajya Sabha and the Lok Sabha. The legislations include Central GST (CGST), Integrated GST (IGST), Union Territory GST (UTGST) and compensation bill. President’s nod has paved the way for July 1 roll out […]