Businesses that have not filed GSTR-3B returns in the preceding two months will not be able to file details of outward supplies in GSTR-1 from September 1, GSTN has said. While businesses file GSTR-1 of a particular month by the 11th day of the subsequent month, GSTR-3B, through which businesses pay taxes, is filed in a staggered manner between 20th-24th day of the succeeding month. In an advisory to taxpayers, GSTN, which manages the technology backbone for Goods and Services Tax, said that Rule-59(6) of Central GST Rules which provides for restriction in filing of GSTR-1, will come into effect from September 1, 2021.
A notification in this regard was issued on Thursday evening which further said that these six MLAs ceased to be members of Himachal Pradesh legislative assembly with effect from February 29.
Provisions in the Central GST Act say reduction in GST rates or the benefit of ITC must be passed on to consumers.
A look at pictures from the funeral.
Goods and Services Tax (GST) collections at Rs 95,480 crore in September touched the highest level so far this fiscal, the finance ministry said on Thursday.
The 17th season of the reality show Bigg Boss will premiere on October 15 on Colors TV.
A round-up of Day 2 of the Ranji Trophy matches played on Sunday
The government has reduced the tariff value for import of edible oil, including palm oil, by up to $112 per tonne, a move which experts said can lead to lower domestic prices. The Central Board of Indirect Taxes and Customs (CBIC), through a notification, has cut the tariff import value of crude palm oil by $86 per tonne, and of RBD and crude palmolein by $112 per tonne each. It also reduced the base import price of crude soyabean oil by $37 per tonne. The changes in tariff value of edible oil are effective from Thursday (June 17).
'They voted me out as they realised that I am not a meethi choori, but a teeki one.'
What some of our leaders were up to on Thursday, October 5, 2023.
The government has notified mandatory requirement of e-invoicing for B2B transactions for businesses with a turnover over Rs 100 crore with effect from January 1, 2021. Under Goods and Services Tax (GST) law, e-invoicing for business-to-business (B2B) transactions is mandatory for companies with turnover of over Rs 500 crore from October 1. In a notification, the Central Board of Indirect Taxes and Customs (CBIC) said e-invoicing will be extended to businesses with a turnover over Rs 100 crore from January 1.
Even as we tip our hats to the best performances of 2023, there are quite a few that may have gone unnoticed.
A look at the arrivals.
Supplying food to schools under mid-day meal scheme, pre-schools and anganwadis is exempt from GST, the Central Board of Indirect Taxes and Customs (CBIC) has said. Issuing a set of clarification on certain decisions taken by the GST Council in its 43rd meeting on May 28, the CBIC said it had received representations regarding applicability of GST on the issues as to whether serving of food in schools under mid-day meals scheme would be exempt if such supplies are funded by government grants and/or corporate donations. Under the goods and services tax (GST), any catering service, including mid-day meals, provided to an educational institution is exempt from the levy.
The 'Pran Pratishtha' of the idol of Ram Lalla -- the childhood form of Lord Ram -- will be attended by people from all walks of life, including representatives of major spiritual and religious sects of the country and of various tribal communities and prominent personalities.
The Supreme Court on Monday refused to stay the Himachal Pradesh assembly speaker's order disqualifying the six Congress rebels who had cross-voted in the recent Rajya Sabha polls in the state.
Former Congress president Sonia Gandhi, BJP chief J P Nadda and new party entrant Ashok Chavan and Union ministers Ashwini Vaishnaw and L Murugan were among the 41 candidates elected unopposed to Rajya Sabha on Tuesday while Himachal Pradesh, Karnataka and Uttar Pradesh will witness polling on February 27.
Karan Johar gave Bollywood a night to remember at the special screening of his new film, Rocky Aur Rani Kii Prem Kahani, in Mumbai.
A Delhi court on extended by 13 days the judicial custody of businessman Abhishek Verma and his Romanian wife, arrested for allegedly receiving money from a Swiss arms firm to stall blacklisting proceedings against it by the Indian government.
A 5 per cent GST rate kicked in on Monday on pre-packed and labelled food items such as cereals, pulses and flour weighing less than 25 kg.
The Congress on Tuesday suffered a major upset in Himachal Pradesh at the hands of the Bharatiya Janata Party in the Rajya Sabha elections which were marred by cross-voting in all the three states though it won three seats in Karnataka while the saffron party pocketed an extra seat in Uttar Pradesh.
The Supreme Court on Wednesday observed that giving the lieutenant governor the power to nominate aldermen in the Municipal Corporation of Delhi would mean that he can destabilise an elected civic body.
Six years after the rollout of the biggest indirect tax reform in India, Goods and Services Tax (GST) revenue of Rs 1.5 lakh crore every month has become a new normal and tax officers are focusing on dealing with fraudsters who are adopting newer modus operandi to game the system, causing loss to the exchequer. To apprehend black sheep, who operate as syndicates and create fake entities on the basis of forged documents to claim input tax credit (ITC), tax officers have started using data analytics, artifical intelligence and machine learning aiming to curb evasion, which was over Rs 3 lakh crore since inception of GST. It was over Rs 1 lakh crore in 2022-23. Thinktank Global Trade Research Initiative (GTRI) said the most critical pending GST reform is upgradation of GST Network to prevent fake supplies and fraudulent claims of Input Tax Credit (ITC).
Sixty-eight Rajya Sabha members, including nine Union ministers, are completing their tenure this year, triggering a race of sorts among leaders across political parties to eye a six-year term in the Upper House of Parliament.
With this, India joins 60 other countries that collect PNR details of international passengers.
Although the June collections were higher than that in July, however, it is important to note that during the previous month, a large number of taxpayers also paid taxes pertaining to February, March and April 2020 on account of the relief provided due to COVID-19.
The controversy over the goods and services tax (GST) rate on food products refuses to die. Now, the Gujarat-based authority of advance rulings (AAR) has ruled that 'parathas' would attract 18 per cent GST. The applicant, Vadilal Industries, sought to know whether various kinds of 'parathas' supplied by them would attract five per cent GST in line with 'khakhra', plain chapati or 'roti'.
Saurashtra's middle-order batter Sheldon Jackson followed in senior teammate Cheteshwar Pujara's footsteps, completing his century on day two of their Ranji Trophy Group A tie against Rajasthan to guide the defending champions to a 300-plus total in Jaipur on Saturday.
The competition between Dil, Dimaag and Dum promises much entertainment in the days to come, expects Divya Nair.
Recently, the finance ministry waived off basic customs duty and health cess on imported oxygen and related equipment for three years.
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) hit a new high of Rs 4,512 after surging 8 per cent on the BSE in Wednesday's intra-day trade, on the back of heavy volumes, ahead of 1:5 stock split. The trading volumes on the counter more-than-doubled today, with a combined 7.02 million equity shares having changed hands on the NSE and BSE till 11:19 am. In the past one week, the stock of the state-owned travel support services company has rallied 20 per cent after the company on September 29, 2021, said that it has fixed October 29, 2021 as the record date, to ascertain the name of shareholders entitled for subdivision/split of equity shares of Rs 10 each into five (5) equity shares of face value of Rs 2 each.
Industry had sought this 3-month extension, specifically for players struggling to collate the information that are required to be disclosed in the GST forms.
'There were lots of people who told me not to go for a Gujarati serial after Scam.' 'But I went with my gut feeling.'
The data primarily pertains to activities in March, which had only a few days under the Covid-19 lockdown. For April , hence, CGST collections could be much lower, fear analysts.
However, where the directors' remuneration is in the nature of professional fees and not salary, GST will be levied on a reverse charge basis.
Mop up grows 10% y-o-y at Rs 1.05 trillion, almost equal to levels in February before a nationwide lockdown to contain the coronavirus pandemic
Seamers Shivam Dube (4/10) and Royston Dias (3/35) powered Mumbai's outright win over Bihar by an innings and 51 runs in their Ranji Trophy 2023-24 season opener in Patna on Monday.
The Supreme Court on Tuesday asked about the "source of power" of the lieutenant governor under the Constitution and the law to nominate 10 aldermen to the Municipal Corporation of Delhi (MCD) without the aid and advice of the elected government.
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