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It will be finally made available to all taxpayers for B2B transactions from next financial year.(Getty Images/iStockphoto (Representative Image))

E-invoicing is a major GST reform for ease of doing business: Finance Secretary

New Delhi | By Asian News International| Posted by Susmita Pakrasi
PUBLISHED ON OCT 09, 2020 02:44 PM IST
E-invoicing is currently mandated for businesses having annual turnover more than Rs 500 crore. By January 1 next year, it will be available to taxpayers having a turnover more than Rs 100 crore a year.
The finance minister also proposed to carry out a similar exercise in various circles across the country to take feedback and acquaint taxpayers with the new forms. (Photo @FinMinIndia)
The finance minister also proposed to carry out a similar exercise in various circles across the country to take feedback and acquaint taxpayers with the new forms. (Photo @FinMinIndia)

FM Nirmala Sitharaman chairs meet on GST simplification

Hindustan Times, New Delhi | By Rajeev Jayaswal
UPDATED ON NOV 17, 2019 02:28 PM IST
The stakeholders attempted to file forms on the spot and gave suggestions to make the system more user-friendly, revenue secretary Ajay Bhushan Pandey said after the meeting.
The Union finance ministry is finally ready to move ahead with the single monthly return system for the Goods and Services Tax (GST), a move that will simplify the process of filing returns and also getting input tax credit.(Arun Sharma/HT File PHOTO)
The Union finance ministry is finally ready to move ahead with the single monthly return system for the Goods and Services Tax (GST), a move that will simplify the process of filing returns and also getting input tax credit.(Arun Sharma/HT File PHOTO)

Quicker one-form GST filing process ready for roll-out

Hindustan Times, New Delhi | By Rajeev Jayaswal
UPDATED ON MAY 16, 2019 10:40 AM IST
That move was delayed while the back-end, the GST network (GSTN), was being made ready for this. Now, government officials directly familiar with the matter say the simplified form is ready, and could be launched by July, soon after the new government takes over.
Three men have been arrested for generating fake bills worth Rs 1,200 crore under the new Goods and Services Tax (GST) regime.(REUTERS)
Three men have been arrested for generating fake bills worth Rs 1,200 crore under the new Goods and Services Tax (GST) regime.(REUTERS)

Bengaluru I-T dept busts Rs 1,200 crore fake GST invoice scam

Hindustan Times, Bengaluru | By Vikram Gopal
PUBLISHED ON NOV 15, 2018 12:26 PM IST
According to the I-T department, the three men had obtained GST registrations for non-existent companies that were trading iron and steel scrap and had circulated the fake invoices on the payment of a commission to some iron and steel manufacturers, who availed input tax credit based on this.
The other challenge in the first year of GST implementation was in plugging an “information gap”, says finance secretary Hasmukh Adhia.(PTI/File Photo)
The other challenge in the first year of GST implementation was in plugging an “information gap”, says finance secretary Hasmukh Adhia.(PTI/File Photo)

One year of GST: Tech failure posed challenge, says finance secretary

Hindustan Times, New Delhi | By P Suchetana Ray
PUBLISHED ON JUL 01, 2018 08:13 AM IST
Small businesses around the country found it hard to adjust to the new IT system, and the GST network failed to cope with last-minute spikes in filing of returns, forcing the GST Council to defer several deadlines.
GST officers have pointed out discrepancies and have asked taxpayers to claim the input credit or refund in the returns of the subsequent month.(PTI Photo)
GST officers have pointed out discrepancies and have asked taxpayers to claim the input credit or refund in the returns of the subsequent month.(PTI Photo)

Notices shot off to businesses for less IGST input credit claim

Press Trust of India | By Press Trust of India
UPDATED ON JUN 08, 2018 05:32 PM IST
The notices have been sent to dealers and businesses who have claimed less IGST Input tax credit (ITC) in summary returns GSTR-3B than what they have passed on or is reflected in GSTR-2A.
The inclusion of natural gas within the GST framework on an experimental basis would be put before the GST Council in its forthcoming GST Council meeting(HT Photo)
The inclusion of natural gas within the GST framework on an experimental basis would be put before the GST Council in its forthcoming GST Council meeting(HT Photo)

Council to discuss bringing natural gas under GST in next meeting

Press Trust of India, New Delhi | By Press Trust of India
UPDATED ON JUN 08, 2018 05:09 PM IST
While petroleum products like kerosene, naphtha and LPG are under the ambit of GST, five items in the basket -- crude oil, natural gas, aviation fuel, diesel and petrol -- have been excluded during the initial years.
Schoolchildren and others walk past empty trucks parked in a row, waiting to be escorted by police to Assam to ferry supplies to Manipur, on the outskirts of Imphal.(HT File Photo)
Schoolchildren and others walk past empty trucks parked in a row, waiting to be escorted by police to Assam to ferry supplies to Manipur, on the outskirts of Imphal.(HT File Photo)

Six states to roll out intra-state e-way bill from tomorrow

Press Trust of India, New Delhi | By Press Trust of India
UPDATED ON MAY 31, 2018 06:56 PM IST
The six states -- Mizoram, Odisha, Punjab, Chhattisgarh, Goa and Jammu & Kashmir -- are set to implement the e-way bill system for intra-state movement of goods from June 1, GST Network said in a statement
The GST Council, chaired by Jaitley, also deferred a decision on levying a cess on sugar and referred the issue of incentivising digital payments to a group of state finance ministers.(PTI Photo)
The GST Council, chaired by Jaitley, also deferred a decision on levying a cess on sugar and referred the issue of incentivising digital payments to a group of state finance ministers.(PTI Photo)

GST Council: Single return filing system to come into force in six months

Livemint, New Delhi | By Remya Nair
UPDATED ON MAY 04, 2018 11:56 PM IST
A single monthly return filing system under the GST would come into force in six months, finance secretary Hasmukh Adhia said
Arun Jaitley said that the collective share of the state governments in the GSTN will be divided on a pro-rata basis.(Press Trust of India)
Arun Jaitley said that the collective share of the state governments in the GSTN will be divided on a pro-rata basis.(Press Trust of India)

Central and state govts to hold 50% stake each in GST Network: Arun Jaitley

Asian News International | By Asian News International
UPDATED ON MAY 04, 2018 04:40 PM IST
The GST Council decided that the 51% stake in GSTN held by private entities should be taken over by the government, and eventually the central government should hold 50% in the network, and the states should hold the remaining 50% collectively.
Union Finance Minister Arun Jaitley flanked by MoS for Finance Shiv Pratap Shukla and Revenue Secretary Hasmukh Adhia at the 26th meeting of the Goods and Services Tax (GST) Council, in New Delhi.(PTI File Photo)
Union Finance Minister Arun Jaitley flanked by MoS for Finance Shiv Pratap Shukla and Revenue Secretary Hasmukh Adhia at the 26th meeting of the Goods and Services Tax (GST) Council, in New Delhi.(PTI File Photo)

GST Council meet today, taxpayers may get simpler return filing forms

Press Trust of India, New Delhi | By Press Trust of India
UPDATED ON MAY 04, 2018 10:25 AM IST
The GST Council meeting comes at a time when Goods and Services Tax (GST) collections achieved its record high by exceeding Rs 1 lakh crore milestone in April
Official said finance minister Arun Jaitley is of the opinion that the government should be the repository of the data provided by companies so that there is no fear of a data breach.(Reuters File Photo)
Official said finance minister Arun Jaitley is of the opinion that the government should be the repository of the data provided by companies so that there is no fear of a data breach.(Reuters File Photo)

Govt begins move to increase stake in GST Network

HIndustan Times, New Delhi | By Shishir Gupta
UPDATED ON APR 10, 2018 07:18 AM IST
The demand that the state take control of GSTN is a long-pending one, and is also prompted by fears that sensitive GST data should not reside in private hands.
To ensure a fool proof system, the GSTN has activated only that facility on its portal where e-way bill can be generated when goods are transported from one state to another by either road, railways, airways or vessels.(HT File Photo)
To ensure a fool proof system, the GSTN has activated only that facility on its portal where e-way bill can be generated when goods are transported from one state to another by either road, railways, airways or vessels.(HT File Photo)

E-way bill mandatory for inter-state movement of goods from April 1

Press Trust of India, New Delhi | By HT Correspondent
UPDATED ON MAR 30, 2018 03:32 PM IST
The GST Council decided on a staggered rollout of the e-way bill earlier this month, starting with inter-state from April 1 and intra-state from April 15.
Special session for the GST launch at Parliament House in New Delhi on June 30, 2017.(Arun Sharma/HT File Photo)
Special session for the GST launch at Parliament House in New Delhi on June 30, 2017.(Arun Sharma/HT File Photo)

Centre launches crackdown on GST evaders

Hindustan Times, New Delhi | By Gireesh Chandra Prasad and Remya Nair, New Delhi
UPDATED ON MAR 29, 2018 11:26 PM IST
The nature of evasion includes non-payment of tax, wrongful claim of tax rebates and failure to remit to the government taxes collected from customers.
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