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Petroleum products such as crude, diesel, petrol, natural gas and aviation turbine fuel (ATF) are awaiting the GST Council’s approval to be included under the GST net.(Reuters/ Representational)

Centre may bring natural gas within the GST ambit

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON JAN 05, 2021 05:34 AM IST
Petroleum secretary Tarun Kapoor confirmed the development. “There is a demand from the industry [to impose GST on natural gas], which is also supported by the MoPNG. But, then it has to go to the GST Council,” he said, referring to the GST body comprising state and central representatives.
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‘GST collection up because of economic activity revival’: Finance secretary Ajay Bhushan Pandey

By Rajeev Jayaswal | Hindustan Times, Delhi
UPDATED ON JAN 04, 2021 08:22 AM IST
Finance secretary rules out the theory of pent-up demand being responsible for the higher GST collection , crediting it to a rebound in business activity and better compliance
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The Finance Secretary explained that higher GST collection is also the result of higher collection efficiency and the trend should continue in the coming months too.(PTI representative image)
The Finance Secretary explained that higher GST collection is also the result of higher collection efficiency and the trend should continue in the coming months too.(PTI representative image)

GST collection for December shows economy is on fast track recovery, says Finance Secretary

By Asian News International | Posted by Deepali Sharma | New Delhi
PUBLISHED ON JAN 03, 2021 09:21 PM IST
Dr Ajay Bhushan Pandey said a record high GST collection of Rs 1,15,174 crore in December is due to economic recovery along with better compliance following the crackdown on malpractices.
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File photo: Image for representation.(REUTERS)
File photo: Image for representation.(REUTERS)

GST authority in Delhi nabs one for Rs 831 crore tax evasion

By HT Correspondent | Hindustan Times, New Delhi
UPDATED ON JAN 04, 2021 05:39 AM IST
Based on the evidence gathered, stocks seized and confessional statements recorded the total duty evasion as estimated to be approximately Rs 831.72 crore, it said.
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The total number of GSTR-3B Returns filed for the month of November up to 31st December 2020 is 87 lakh.(PTI)
The total number of GSTR-3B Returns filed for the month of November up to 31st December 2020 is 87 lakh.(PTI)

GST collections at all-time high of over Rs 1.15 lakh crore in December

By Press Trust of India | Posted by Srivatsan K C | New Delhi
UPDATED ON JAN 01, 2021 02:25 PM IST
The gross GST revenue collected in the month of December 2020 is Rs 1,15,174 crore and is the highest since the introduction of Goods and Services Tax from July 1, 2017, the Finance Ministry said in a statement.
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Representational image.(PTI)
Representational image.(PTI)

Govt extends deadline to file annual GST returns to February 28, 2021

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON DEC 31, 2020 05:15 PM IST
The government on Wednesday also extended deadlines for filing personal income tax returns by 10 days
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Rajesh Gupta, co-founder and director of accounting software firm Busy Infotech, expects GST collection in December to exceed the November figure of Rs 1,04,963 crore.(PTI)
Rajesh Gupta, co-founder and director of accounting software firm Busy Infotech, expects GST collection in December to exceed the November figure of Rs 1,04,963 crore.(PTI)

GST revenue may exceed Rs 1 lakh crore for third consecutive month

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON DEC 30, 2020 04:59 AM IST
According to available data so far, GST collections look good, with increased demand from consumers in the festive season, two officials with direct knowledge of the matter said, requesting anonymity. The finance ministry will release GST revenue data on Friday.
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The present set of bowl and cutlery have excellent provenance. It comes from the collection of one-time shipping magnate Sumati Morarjee, a well-known devotee of Mahatma Gandhi.(Getty Images/Keystone)
The present set of bowl and cutlery have excellent provenance. It comes from the collection of one-time shipping magnate Sumati Morarjee, a well-known devotee of Mahatma Gandhi.(Getty Images/Keystone)

Mahatma Gandhi’s bowl, cutlery to be auctioned in UK

By Asian News International | Posted by Shankhyaneel Sarkar | London
UPDATED ON DEC 29, 2020 08:11 PM IST
Gandhi heirlooms -- letters, photographs, portraits, books, sandals, spectacles among other items -- attract collectors of all sorts, both institutions and individuals, throughout the world.
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Jharkhand chief minister Hemant Soren, whose government completes one year tomorrow, also lamented the poor state of opposition in the country and called for “collective responsibility” to take on the BJP. (Photo@HemantSorenJMM)
Jharkhand chief minister Hemant Soren, whose government completes one year tomorrow, also lamented the poor state of opposition in the country and called for “collective responsibility” to take on the BJP. (Photo@HemantSorenJMM)

‘Not getting GST dues, even BJP-ruled states unhappy’: Hemant Soren

By Vishal Kant | Hindustan Times, Ranchi
UPDATED ON DEC 28, 2020 04:40 PM IST
Despite the talk about cooperative federalism, Soren, citing his experience as CM over the past year, said that the relationship between the Centre and the state is not healthy
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This rule will help to control fake invoices fraudsters who avail and pass on ITC by dummy, fake and dormant entities which show high turnovers.(PTI)
This rule will help to control fake invoices fraudsters who avail and pass on ITC by dummy, fake and dormant entities which show high turnovers.(PTI)

New GST rule is not applicable for MSMEs

By HT Correspondent | Hindustan Times, New Delhi
UPDATED ON DEC 28, 2020 02:46 AM IST
The Central Board of Indirect Taxes and Customs (CBIC) last week introduced a change in the GST rules that restricted the use of input tax credit (ITC) for discharging GST liability to 99%, the official said requesting anonymity.
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Image for representation.
Image for representation.

‘New GST rule doesn’t apply to small firms’: Ministry official

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON DEC 27, 2020 08:45 PM IST
It is also not applicable to registered entities which have received a refund of more than Rs 1 lakh in the preceding financial year on account of export.
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While calculating the turnover threshold, sales from GST exempt goods and zero rates supply would not be included(PTI)
While calculating the turnover threshold, sales from GST exempt goods and zero rates supply would not be included(PTI)

Businesses with monthly turnover of over Rs 50 lakh to pay at least 1% GST liability in cash

By Press Trust of India | Posted by Ayshee Bhaduri | New Delhi
PUBLISHED ON DEC 23, 2020 03:48 PM IST
The Central Board of Indirect Taxes and Customs has introduced Rule 86B in Goods and Services Tax (GST) rules which restricts use of input tax credit for discharging GST liability to 99 per cent.
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The government had set up a special borrowing window in October to meet the estimated shortfall of Rs 1.1 lakh crore in revenue arising on account of implementation of GST.(PTI)
The government had set up a special borrowing window in October to meet the estimated shortfall of Rs 1.1 lakh crore in revenue arising on account of implementation of GST.(PTI)

Finance ministry releases 8th installment of Rs 6,000 cr to states to meet GST compensation shortfall

By Asian News International | Posted by Srivatsan K C | New Delhi
PUBLISHED ON DEC 21, 2020 03:39 PM IST
Of this, Rs 5,516.6 crore has been released to 23 states and an amount of Rs 483.4 crore has been released to the three union territories with legislative assembly (Delhi, Jammu & Kashmir and Puducherry) which are members of the GST Council.
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Here’s a look at the new rules before their rollout on January 1, 2021.(File photo)
Here’s a look at the new rules before their rollout on January 1, 2021.(File photo)

Mandatory FASTags, Quarterly GST filing and WhatsApp services: Rules that are changing from Jan 1

By hindustantimes.com| Edited by Mallika Soni | Hindustan Times, New Delhi
UPDATED ON DEC 31, 2020 10:29 AM IST
From tomorrow – January 1, 2021, some rules on quarterly GST filing, mandatory FASTags and discontinuation of WhatsApp services on some phones are going to change. Here’s a look at the new rules before their rollout on January 1, 2021.
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A shortfall of Rs 1.10 lakh crore in revenue was estimated on account of implementation of GST following which a special borrowing window was enabled in October this year.(PTI)
A shortfall of Rs 1.10 lakh crore in revenue was estimated on account of implementation of GST following which a special borrowing window was enabled in October this year.(PTI)

Centre releases Rs 42,000 crore to states towards GST compensation shortfall

By hindustantimes.com | Edited by Srivatsan K C | Hindustan Times, New Delhi
PUBLISHED ON DEC 14, 2020 08:25 PM IST
In its statement, the finance ministry said that Rs 6,000 crore has been released on Monday, the latest in a series of weekly instalments, of which Rs 5516.60 crore has been released to 23 states and Rs 483.40 crore has been released to three Union territories of Delhi, Jammu and Kashmir, Puducherry.
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Revenue Department sources said some companies of Delhi and Himachal are under investigation for under-valuation of goods and its transportation through transporters of Ludhiana and Jalandhar.(PTI)
Revenue Department sources said some companies of Delhi and Himachal are under investigation for under-valuation of goods and its transportation through transporters of Ludhiana and Jalandhar.(PTI)

GST officers arrest 140 persons on charges of fake invoicing, focus on under-valuation of transported goods

By Press Trust of India | Posted by Srivatsan K C | New Delhi
PUBLISHED ON DEC 13, 2020 07:35 PM IST
In its nationwide drive against fake invoice frauds since the second week of November, the Directorate General of GST Intelligence (DGGI) have also unearthed cases of GST evasion by way of transporting under-valued and unaccounted goods.
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In Ahmedabad zone alone, 11,048 GST registrations have been cancelled. In Chennai zone, 19,586 suo motu cancellations have been done so far in respect of GST taxpayers who have failed to file returns for more than six months.(PTI)
In Ahmedabad zone alone, 11,048 GST registrations have been cancelled. In Chennai zone, 19,586 suo motu cancellations have been done so far in respect of GST taxpayers who have failed to file returns for more than six months.(PTI)

Govt cancels GST registration of 163k biz entities over non-filing of tax returns

By Rajeev Jayaswal | New Delhi, Hindustan Times
UPDATED ON DEC 12, 2020 01:22 PM IST
To handle the menace of fake firms and circular trading entities, GST officials have cancelled 1,63,042 registrations in the month of October and November this year due to non-filing of GSTR-3B returns for more than six months
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The Finance Ministry has released the weekly installment of Rs 6,000 crores to the states to meet the Goods and Services Tax compensation shortfall
The Finance Ministry has released the weekly installment of Rs 6,000 crores to the states to meet the Goods and Services Tax compensation shortfall

Sixth installment of Rs 6,000 cr released to states/UTs as loan to meet GST compensation shortfall

By Asian News International | Posted by Ayshee Bhaduri | New Delhi
PUBLISHED ON DEC 09, 2020 09:04 PM IST
The central government is borrowing this amount on behalf of the states and UTs through a special borrowing window to meet the estimated shortfall of Rs 1.10 lakh crore in revenue arising on account of GST implementation.
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Representational Image.(File photo)
Representational Image.(File photo)

Relief for small businesses: Now, only four GSTR-3B returns a year instead of 12

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON DEC 08, 2020 12:32 PM IST
Also, the taxpayers’ professional expenses on return filing would get reduced significantly for they would be required to file just half the number of returns in place of 16 at present
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The searches uncovered documents which revealed the company was engaged in licensing rights of film production houses for broadcast on national and international channels.(PTI)
The searches uncovered documents which revealed the company was engaged in licensing rights of film production houses for broadcast on national and international channels.(PTI)

GST investigators uncover fraudulent transactions of Rs 290 cr

By Press Trust of India | Posted by Srivatsan K C | Nagpur
PUBLISHED ON DEC 07, 2020 04:36 PM IST
As per a DGGI release, searches were conducted on a Mumbai-based firm, M/s M & M Advisors and Consultants Private Limited, as follow-up of the detection of a non-existent advertising firm in Dhule.
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Union Finance Minister Nirmala Sitharaman addressing a press conference on the outcomes of 42nd GST Council at National Media centre in New Delhi, India, on Monday, October 5, 2020. (Photo by Arvind Yadav/ Hindustan Times)
Union Finance Minister Nirmala Sitharaman addressing a press conference on the outcomes of 42nd GST Council at National Media centre in New Delhi, India, on Monday, October 5, 2020. (Photo by Arvind Yadav/ Hindustan Times)

Govt launches QRMP scheme: From January 1, file only 4 GSTR-3B returns instead of 12

By hindustantimes.com | Edited by Karan Manral | Hindustan Times, New Delhi
UPDATED ON DEC 07, 2020 12:21 PM IST
Sources in the department of revenue (DoR) have said the scheme would impact 9.4 million taxpayers, who constitute 92% of the total tax base of the Goods and Services Tax (GST).
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West Bengal finance minister Amit Mitra in August last year wrote a letter to Union finance minister Nirmala Sitharaman wherein he said the total GST fraud could have already crossed the Rs 1 lakh crore mark since July 2017.(File Photo)
West Bengal finance minister Amit Mitra in August last year wrote a letter to Union finance minister Nirmala Sitharaman wherein he said the total GST fraud could have already crossed the Rs 1 lakh crore mark since July 2017.(File Photo)

GST transactions worth Rs 1 lakh crore being probed

By Neeraj Chauhan and Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON DEC 07, 2020 05:04 AM IST
DGARM has captured thousands of suspicious transaction carried by business entities between July 1, 2017 and March 31, 2020 and shared the data with investigative agencies for action. Based on such inputs, the government launched a massive crackdown against GST frauds three weeks ago and arrested 104 people, three officials said, requesting anonymity.
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A daily wage labourer near Jamshedpur has been dragged into a GST fraud case involving Rs 3.5 crore.(HT Photo?Representational use)
A daily wage labourer near Jamshedpur has been dragged into a GST fraud case involving Rs 3.5 crore.(HT Photo?Representational use)

Jharkhand man chased for Rs 3.5cr GST fraud turns out to be a daily wage worker

By Debashish Sarkar | Edited by Abhinav Sahay | Hindustan Times, Jameshedpur
UPDATED ON DEC 05, 2020 12:02 PM IST
Ladun clarified that he had no clue how was he made the MD of a company when his MGNREGA enlisting earned him no more than Rs 198 a day, making it an everyday struggle to make both ends meet
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Union finance minister Nirmala Sitharaman(Sanjeev Verma/HT PHOTO)
Union finance minister Nirmala Sitharaman(Sanjeev Verma/HT PHOTO)

All states accept Rs 1.1 lakh crore borrowing option to meet GST shortfall

By Hindustantimes.com | Edited by Kanishka Sarkar | Hindustan Times, New Delhi
UPDATED ON DEC 05, 2020 11:03 AM IST
Jharkhand has become the latest State to go for Option-1 and it will get Rs. 1,689 crore through special borrowing window to meet the GST implementation shortfall.
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Thirty members of the GST Council – 27 states and 3 Union territories -- have formally accepted the first borrowing option proposed by the Centre in August this year, an official in the Union government said, requesting anonymity.(File photo)
Thirty members of the GST Council – 27 states and 3 Union territories -- have formally accepted the first borrowing option proposed by the Centre in August this year, an official in the Union government said, requesting anonymity.(File photo)

GST revenue shortfall: Chhattisgarh opts for govt’s borrowing option

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON DEC 04, 2020 08:12 AM IST
Congress-ruled Chhattisgarh has become the latest state to accept the central government’s offer to borrow Rs 1.1 lakh crore on behalf of state administrations to meet a Rs 2.35 lakh crore shortfall in their share of revenue from the Goods and Services Tax (GST) this fiscal year, largely on account of the pandemic.
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30 members of the GST council including 27 states and 3 UTs have formally accepted the first borrowing option proposed by the Centre.(HT photo)
30 members of the GST council including 27 states and 3 UTs have formally accepted the first borrowing option proposed by the Centre.(HT photo)

Chhattisgarh joins 27 states and 3 UTs to opt for GST loan, Jharkhand is lone dissenter

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON DEC 03, 2020 01:04 PM IST
The Centre had given two borrowing options to states to meet their revenue shortfall of about Rs 2.35 lakh crore in the current financial year.
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Representational Image.(File photo)
Representational Image.(File photo)

GST collection crosses Rs1 lakh crore mark for second consecutive month in November

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON DEC 01, 2020 04:21 PM IST
GST collections have shown positive growth for the third month in a row, indicating signs of economic recovery since the Covid-19 pandemic gripped India and forced a national lockdown in March this year
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Revenue from GST stood at over Rs 1.04 lakh crore in November as against Rs 1.05 lakh crore collected in the previous month, the Finance Ministry said in a statement.(PTI)
Revenue from GST stood at over Rs 1.04 lakh crore in November as against Rs 1.05 lakh crore collected in the previous month, the Finance Ministry said in a statement.(PTI)

GST revenue at Rs 1.04 lakh crore in November

By Press Trust of India | Posted by Mallika Soni | Press Trust of India
PUBLISHED ON DEC 01, 2020 03:09 PM IST
The collection in November 2020 is 1.4 per cent higher than in November 2019 when the GST mop-up was Rs 1,03,491 crore.
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In order to create a cashless society, on March 21, 2020, the government mandated the issuance of invoices with dynamic QR code.(Mint)
In order to create a cashless society, on March 21, 2020, the government mandated the issuance of invoices with dynamic QR code.(Mint)

Businesses get 4 months to implement QR code-based payment system

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON NOV 30, 2020 11:27 PM IST
The government had also instructed tax officials to verify deemed GST registrations granted to business entities without Aadhaar authentication.
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Currently, the GST law permits deemed registration after 21 days of application.(Representational Image.)
Currently, the GST law permits deemed registration after 21 days of application.(Representational Image.)

Deemed GST registration granted between August 21 and November 16 under CBIC scanner

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON NOV 30, 2020 09:19 AM IST
It has been noticed that many unscrupulous people are misusing the easy GST registration system to con the exchequer by generating fake invoices and misappropriating input tax credit
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