GST
Un-fried Fryums' not 'Papad', hence taxable at 18%: Authority for Advance Rulings
In its order rejecting a petition seeking to bring irregular sized packaged snack food as referred to as un-fried fryums at par with Papad for applicability of GST, AAR said that in matter of the product under reference where no clear definition had been provided in the statute, the principle of common parlance is used.
Mumbai businessman nabbed for Rs 31 cr GST fraud
According to a GST statement, accused Anuj Gupta, who has five registered firms, including two in the Union Territory of Dadra and Nagar Haveli, was nabbed from Vile Parle.
Maharashtra stops automatic adoption of Centre's GST circulars
A circular issued by the Maharashtra Goods and Service Tax Department (MGSTD) on January 12 says that the state would examine all circulars issued by the Central Board of Indirect Taxes and Customs (CBIC), and upon examination, issue a separate circular regarding its applicability for the implementation of the MGST Act.
DGGI issues show-cause notice to Amazon over 'wrong' ITC claim
The GST intelligence arm has raised a demand of Rs 175 crore, sources said. An investigation by DGGI has found calculation errors made by the e-commerce company.
11th instalment of Rs 6K cr for GST compensation shortfall released
Out of this, an amount of Rs 5,516.60 crore has been released to 23 states and a number of Rs 483.40 crore has been released to the 3 Union Territories (UTs) with Legislative Assembly (Delhi, Jammu & Kashmir, Puducherry) who are members of the GST Council. The remaining 5 states -- Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim -- do not have a gap in revenue on account of GST implementation.
Middle class likely to gain from higher tax deductions in Budget 2021
Sources said that the Budget 2020-21 may take the sops announced earlier under the Atmanirbhar Bharat package to help people in their fight against the Covid-19 pandemic further, by raising the basic tax exemption limit for an individual income tax payee to Rs 5 lakh from Rs 2.50 lakh at present to enhance net disposable income in their hands.
DGGI starts probe against Uber, Ola over alleged GST evasion
According to sources, as per the calculation by the GST arm, the tax liability of Uber India stands around Rs 800 crore, while that of Ola Cabs is around Rs 300 crore.
215 held in two months in fake GST invoice fraud cases
Those arrested by the Directorate General of GST Intelligence (DGGI) and the CGST Commissionerates include six Chartered Accountants and one Company Secretary, sources said.
Early inclusion of natural gas into GST fold likely
Sources privy to the development said that based on Petroleum Ministry's suggestion, the Centre may take up with GST Council the issue of bringing natural gas under the Goods and Services Tax (GST) regime to begin with before entire oil and gas sector is brought under it.
December GST collection hits record high, crosses Rs 1.15 lakh crore
Out of the total GST revenue collection of Rs 1,15,174 crore, Central GST (CGST) was Rs 21,365 crore, State GST (SGST) was Rs 27,804 crore, Integrated GST (IGST) was Rs 57,426 crore (including Rs 27,050 crore collected on import of goods), said a Finance Ministry statement.
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