Page 2 - Gst Act

GST fraud of Rs 20,124 cr detected during Nov 9-Jan 31: Sitharaman

A nationwide special drive against unscrupulous entities for availing and passing on Input Tax Credit fraudulently is being carried out, FM said in a written reply to Rajya Sabha

E-commerce cos fret over Madras HC ruling on GST refunds on service inputs

The high court's order, which says refunds paid on service inputs can be restricted, runs contrary to Gujarat HC verdict and could complicate matters

Conflicting rulings at state level fuel call for setting up centralised AAR

Centralised AAR was, in fact, already approved by GST Council and Cabinet over a year ago

Amid revenue shortage, govt begins audit of GST returns for FY 2017-18

The instruction is that audit of large units be completed within seven working days, of medium units in five working days and of small ones in three

Business fears hit to cash flow from new GST input tax credit restriction

Gupta of ClearTax feels a further reduction in credit could have been considered later

FM holds first of a series of meetings with CAs, traders on simplifying GST

The new GST return is available on the portal for trial; consultations will be held across country on December 7 to get feedback on the new system

Lower costs, faster growth

Reducing the cost of doing business gets little attention, but it's a key structural reform that would enable India to grow at 8-10 per cent a year for over a decade

GST may become two-tier tax with merger of 12% and 18% slabs: Jaitley

Jaitley said 20 states are already showing more than a 14% increase in their revenues and do not require the centre to compensate them for revenue loss arising out of GST implementation

Parliament session possible post Diwali to ratify changes in GST Act

Early convening of Parliament will also provide gap of 2 months before the next session is convened in Jan to place the Budget