An IAS officer of 1985 batch belonging to Rajasthan cadre, Sharma is currently posted as Additional Secretary in the Department of Revenue, Ministry of Finance. He has been closely associated with the formulation of GST and its implementation.
The committee comprises of tax commissioners from the states of Gujarat, Karnataka, Punjab and Andhra Pradesh. It has been tasked to suggest if modifications are required in present structure of GST returns, along with required changes in rules, laws and format. The panel will submit its report by December 15.
CBEC chairperson Vanaja N Sarna on Wednesday said that the administration wanted the provision of National Anti-profiteering Authority (NAA) to be used minimally.
The Council has recommended reduction in GST rate from 28% to 18% on goods falling in 178 headings at 4-digit level (including 4 tariff heading that are partially pruned). After these changes, only 50 items will attract GST rate of 28%.
Uniform rate of tax @ 1% under composition scheme for manufacturers and traders (for traders, turnover will be counted only for supply of taxable goods). No change for composition scheme for restaurant.
The GST Council, in its 23rd meeting held at Guwahati on 10th November 2017, has recommended the several facilitative measures for taxpayers:
Adhia is a 1981 batch IAS officer of Gujarat cadre. The Appointments Committee of the Cabinet has approved designating Adhia as the Finance Secretary.
"Every registered taxable person who has made exports on payment of IGST, other than an input service distributor or compounding taxpayer or TDS deductor or TCS collector can file Table 6A of Form GSTR1 electronically on the GST Portal" GSTN CEO Prakash Kumar said.
The last dates for filing of GSTR 2 and GSTR 3 for the month of July 2017 have been extended further from October 31, 2017 to November 30, 2017 and from November 10, 2017 to December 11, 2017
The Hon'ble court after hearing at length asked GSTN to treat it as Representation & not as adversarial litigation and directed that GSTN Vice President, Mrs. Kajal (present in Court), will be available (along with the technical as well legal team of GSTN) to address the grievances of the Bar Representatives on 06.11.2017
Many Tax associations has already announced boycott of GST Return filing due to unjustified imposition of Late Filing Fees for late filing of Form GSTR-3B.
GST Council made sweeping changes in its 22nd Meeting held on October 6, 2017, to give relief to small and medium businesses on filing and payment of taxes, eased rules for exporters and cut tax rates on 27 common use items.
The reverse charge mechanism under sub-section (4) of section 9 of the CGST Act, 2017 and under sub-section (4) of section 5 of the IGST Act, 2017 shall be suspended till 31.03.2018 and will be reviewed by a committee of experts.
it has been decided that the facility of furnishing Letter of Undertaking (LUT), in place of a bond, for exporting goods or services or both shall be allowed to exporters and no bank guarantee will be required.
In the case of assessees who were not registered under ACES, who want to make payment of service tax on or after 1-7-2017, they may avail of the category of “non assessee registration” in the registration module of ACES.
On the occasion of Founding Day, the Passing -out Ceremony of IRS (C&CE) Probationers of the 2015 batch was also held. The Finance Minister also inspected the Passing-out Parade and took the salute. Ms. Vanaja N. Sarna, Chairperson, CBEC, welcomed Shri Jaitley on behalf of NACIN.
GSTR-3B is only a simple return which eases compliance burden for businesses. Even after filing it, businesses will have to upload invoices and file final returns in the GSTR-1, 2 and 3 forms on a stipulated date.
The Group of Ministers (GoM) set up to look into the technical issues faced by GSTN headed by Bihar Deputy Chief Minister Sushil Kumar Modi, is hopeful of resolving 80% of the problems in filing tax returns by October 30.
Petroleum Minister Dharmendra Pradhan had on Wednesday (September 13, 2017) made a strong pitch for the inclusion of petroleum products under GST by stating “If states ratify the proposal, it could well pave the way for uniform taxation of petroleum products
The government has received a rude shock with a whopping Rs 65,000 crore being claimed back as transitional credit by taxpayers. The tax authorities are now scrutinising all such cases where the sum exceeds Rs 1 crore.
Bihar Deputy Chief Minister Sushil Kumar Modi will head the GoM which will look into technical challenges being faced by the GST registration and tax filing portal.
Committee on Exports under Revenue Secretary Hasmukh Adhia, to look into the issues of export sector and to recommend to the GST Council, suitable strategy for helping the export sector in the post-GST scenario.
An order issued by the Department of Revenue under the Ministry of Finance said, "A B Pandey, CEO, Unique Identification Authority of India is assigned the additional charge of the post of Chairman, GSTN with immediate effect and until further orders."
The revised GST July 2017 Return filings dates are October 10 for GSTR 1, October 31 for GSTR 2, November 10 for GSTR 3, October 13 for GSTR 6. The due date for GSTR 1 filing in respect of registered persons with aggregate turnover
Tally solutions have issued an advisory to the taxpayers not to use the latest version V1.2 of the GST Offline utility tool while importing invoices with multiple tax rates as it can potentially lead
GST implementation committee, which is authorized to decide on urgent matters and to take emergency decisions, on Monday (September 4, 2017) decided to extend the deadline for filing GST returns, giving taxpayers extra time for compliance.
Prime Minister Narendra Modi on Friday (September 1, 2017) inaugurated the Rajaswa Gyan Sangam at Vigyan Bhawan in New Delhi and asked tax officials to be friendly to honest taxpayers
The central government, on the recommendations of the council, hereby waives the late fee payable under section 47 of the central GST Act, for all registered persons who failed to furnish the return in FORM GSTR-3B for the month of July 2017
An investigation by the DRI has revealed that smugglers used to import banned and restricted goods through FPO by planting them inside undergarments, fancy dresses and vanity boxes, and were misusing the senior bureaucrat's address for delivery.
The total revenue of GST paid under different heads upto 29th August, 2017 (10 a.m) is Rs.92,283 crore. The total CGST revenue is Rs.14,894 crore, SGST revenue is Rs.22,722 crore, IGST revenue is Rs.47,469 crore (of which IGST from imports is Rs.20,964 crore) and Cess is Rs.7,198 crore
The improved procedure is aimed at ensuring a speedier and more transparent approval process. Towards this objective, companies can now make their application online and view its progress/update on-line, without a visit to any government office.
The GST Implementation Committee, consisting of State and Central Government officers, has taken a decision to extend the last date for payment of the GST for the month of July 2017 to 25th August, 2017.
Concerns have been raised about the form for claiming transitional input tax credit not being available on the GSTN website. This form will be available on the GSTN website from 21st August, 2017. In view of this, a small window of opportunity is being given
Akshay Kumar starrer ‘Toilet-Ek Prem Katha’ has become the first big Bollywood release to be tagged as SGST free movie as UP waived State GST share on the movie’s tickets. State governments could earlier waive off ‘entertainment tax’ on movies.
The Executive Committee of the Indian Revenue Service (Customs and Central Excise) Association has asked its members to donate one day salary towards Prime Minister's Relief Fund to help flood-affected states in the North Bihar and North East.
According to informed sources, despite efforts to curb the yellow metal's import from Korea, it continues unabated. Indian importers are providing all information demanded by the customs department and providing the requisite bank guarantee too.
Every time when there is change in government policies, some companies kepp an eye on such changes and start importing gold in bulk. By the time, the things get noticed, they are already through with import of huge quantities of gold.
The payments made by producers on behalf of the actors become additional consideration for the actors, which is directly and inextricably linked to the services provided by actors. Non-inclusion of the additional consideration during 2013-14 to 2015-16 resulted in non-payment of service tax
Several contemporary and relevant topics including Goods and Services Tax (GST); as well as Corporate Social Responsibility (CSR) ; and global financial reporting standard have been included in the syllabus.
The West Bengal Goods and Services Tax Bill, 2017, was passed by the state assembly here on Monday, with the legislation replacing the ordinance promulgated earlier by the Mamata Banerjee government on the new tax system.
Rates on tractor parts brought down to 18% from 28% and E-Way bill made mandatory for movement of goods worth more than Rs. 50,000.
However, GSTN chairman Navin Kumar appealed to assessees not to wait for a last-time rush. "We encourage businesses, particularly MSMEs (micro, small and medium) and larger businesses
The CBEC vide Order No.01/2017 dated 21.07.2017, issued by the GST Policy Wing, has extended the deadline for small businesses to opt for the composition scheme in the GST regime by nearly four weeks to August 16.
Finance Minister Arun Jaitley on Friday told lawmakers that the government is considering to change the country's financial year to January-December from April-March.
She told that revenue authorities will go slow in undertaking enforcement actions under GST for the first six months as they want industry to settle down into the new indirect tax regime. She said there will be genuine errors due t
Hotel Rooms in Hotel rooms with tariffs less than Rs 7500 per unit per day will attract a modest rate of 18 per cent GST, the government clarified today.
Textile traders in Surat, who were on a two-week-long strike against the imposition of 5% GST on textiles, called off their strike in the hope of getting a rate relief from the federal indirect tax body, the GST Council, at its next meeting in August.
The Delhi High Court on Tuesday (July 18. 2017) issued a notice to the Finance Ministry and the GST Council on a plea against 12 per cent tax on sanitary napkins under the GST regime.
CBEC has advised tax consultants not to open more than one enrolment or registration case at one time and to clear the cache memory of the computer system after completing each case.
While the peak Goods and Service Tax (GST) rate of 28 per cent stays and so does 5 per cent ad valorem cess on top of it, the fixed cess has been hiked between Rs 485 and 792 per thousand sticks.
Unlike the earlier meetings, when the states and Centre used to sit across the table and decide on a plethora of issues, this time the interaction happened through video conferencing.
CBEC has also provided a GST rate finder on its portal to help the taxpayers know the applicable GST rate on their supplies of goods and services. A taxpayer can search for applicable rates of Central, State, Union Territory GST and compensation cess on a supply.
Jammu and Kashmir assembly adopted a resolution to implement the goods and services tax (GST), bringing the state’s indirect taxation into the new unified tax regime that the rest of the country adopted on 1 July at a landmark ceremony in Parliament.
The father of the new born, Jagdish Prasad, said, "The day Prime Minister Narendra Modi announced Goods and Services Tax (GST) reform as a tax revolution on July 1, my daughter was born. So I could not hold my excitement and named her GST to make this day a memorable one."
The DOR (Department of Revenue) and CBEC (Central Board of Excise and Customs) are organising GST- Ki -Master Class for six days (three days in Hindi and three days in English) which will be telecast on the Doordarshan and other channels.
At midnight on June 30, 2017, the press of a button in the Central Hall of Parliament announced the arrival of the Goods and Services Tax in India. Prime Minister Narendra Modi and President Pranab Mukherjee rolled out GST, India's biggest-ever tax reform.
Finance Minister Arun Jaitley had warned that the States that fail to pass the GST-enabling law in time would lose out on compensation from the Centre for revenue losses from the GST transition in the first five years.
Like it happened with Independence, GST will be made official at midnight on 30 June. It will happen from the central hall of Parliament where the Prime Minister, the President, former Prime Ministers, all chief ministers, all finance (ministers) would be present.
The GST Council will meet again on June 18 to discuss any pending issues, including the e-way bill rules and the rates on lotteries,
Finance Minister Arun Jaitley chaired the 15th meeting of the GST Council which decided tax rate of remaining items including gold, textiles and footwear.
"It is like a dream come true. I always wanted to be an IAS officer. I put in a lot of effort. After getting selected in the IRS in 2014, I had taken the exam again in 2015 but could not crack it. I took the test again and topped it," she told
Traders and industry can now ask questions on the twitter handle '@askGST_GoI' and officials from CBEC will answer them. "All taxpayers and other stakeholders are welcome to direct their queries related to GST
Senior bureaucrats R K Mahajan and Mahender Singh have been appointed as members in the Central Board of Excise and Customs (CBEC). Mahajan is the director general of Central Excise Intelligence and Singh is the director general (audit).
To implement this, Zonal Chief Commissioners have now been requested to utilize an amount of Rs. 1 crore out of the funds under the "O.E. General" Head for this purpose. Please use these funds for extensive outreach programmes for educating taxpayers
I am happy to inform that the President has accorded his assent to the Central Goods and Services Tax Act, the Integrated Goods and Services Tax Act, the Union Territory Goods and Services Tax Act and the Goods and Services Tax (Compensation to the States) Act
President Pranab Mukherjee has given assent to four GST legislations on April 12, 2017. The legislations were The Central GST Act, 2017, The Integrated GST Act, 2017, The GST (Compensation to States) Act, 2017, and The Union Territory GST Act, 2017.
After the passage of the bills, finance minister Arun Jaitley went up to Congress benches and shook hands with Manmohan Singh and other Congress leaders to thank them.
Taken together, the Bill seeks to amend the Customs Act 1962, the Customs Tariff Act 1975, the Central Excise Act 1944, the Finance Act, 2001 and the Finance Act, 2005 and to repeal certain enactments.
The government has sought comments from industry on the 4 set of new rules on -- GST Composition, GST Valuation, GST Transition and GST ITC. These rules had received the "tentative" approval at the the GST Council meeting on March 31.
The council, headed by Finance Minister Arun Jaitley, approved the draft rules relating to composition, valuation, ITC (input tax credit) and the transition process.
Sarna, a 1980 batch officer of Indian Revenue Service (Customs and Central Excise), is at present member in the CBEC. She will take over charge from incumbent Najib Shah who completes his term this month-end.
The Central Goods and Services Tax Bill, 2017 (CGST); The Integrated Goods and Services Tax Bill, 2017 (IGST); The GST (Compensation to States) Bill, 2017; and The Union Territory Goods and Services Tax Bill, 2017 (UTGST) were passed in the Lok Sabha after a seven hour long discussion.
The reorganised body will help the government with inputs for its GST policy, besides being the new All-India indirect tax administration structure, officials said.
While the four bills approved by the Cabinet today have to be passed by Parliament, the SGST law has to be approved by each of the state assemblies.
Goods and Service Tax Council (GSTC) today i.e. on March 16, 2017 approved the remaining two draft bills -- UTGST (Union Territory GST) and SGST (state GST). The council has already approved the drafts of CGST (Central GST), IGST (Integrated GST) and
The GST Council approved the final draft of Central GST (CGST) and Integrated GST (IGST) and will take up for approval the State GST (SGST) and Union Territory GST (UTGST) laws at its next meeting to be held on March 16.
“The decision seems to be one-sided in favour of states weakening sovereign function of the Centre regarding levy and collection of taxes. Our apprehension is that GST in this form may not bring the desired goals of better tax compliance, more revenues..........
the CBEC said through the mobile application, taxpayers can now readily access a host of GST information such as approach and guidelines for migration, Draft Model GST Law, IGST Law and GST Compensation Law, Draft Rules related to registration, returns, payment, refund and invoice.
They said, “90:10 division (of assessees with turnover below Rs 1.5 crore) and 50:50 (for assessees with over Rs 1.5 crore turnover) was decided but it was not decided that any one state can sit with the Centre and decide to rework (the division) on its own.
The Department contends that services provided by the government are exempt from the tax, but those provided by a company to the government are neither covered under the negative list nor under any exemption notification. Such services are therefore taxable services on which service tax is required to be paid.
The GST Council approved the law for compensating states for loss of revenue that they may incur during implementation of new indirect tax regime.
"GST is a historical leap, which will help in nation building", said Partha Roy Chowdhury, commissioner, Service Tax II, Kolkata, while inaugurating the seminar.
The Delhi Customs arrested a man and seized gold medallions worth around Rs 22 lakh from him-Customs officials have seized 39 brass idols being smuggled to India from Nepal in the border town of Raxaul-Rameswaram Customs Preventïve Unit have seized about 1.88 lakh tablets
The GST Council will meet on Saturday (February 18, 2017) in Udaipur to give its nod to the final drafts of all the legislations—CGST Bill, SGST Bill, IGST Bill and the bill to compensate states for revenue losses arising from a transition to GST.
The State government has deliberated upon the issue and came to the conclusion that it should implement the GST but with the riders so that its Constitutional position and special taxation powers are not affected
“Met Service Associations of CBEC on GST rollout–appreciate their concerns and GoI will redress their HR issues & protect career interests,” the FM said in a tweet.
These Seva Kendras are connected to both the GSTN and CBEC portals. The assessees can either fix an appointment or walk in to clear their doubts related to their migration to the new tax regime.
The proposal of tax collection at source, directed only at e-commerce marketplaces, in the draft model GST law, will hurt lakhs of small sellers by making online sales expensive and cumbersome for them
The warning came at a time when associations representing employees of Central Board of Excise and Customs (CBEC) are protesting against certain decisions taken by the GST Council.
“There was very good response from all the staff across the country. They wore black band while at work to protest some of the decisions by the GST Council,” said Anup Srivastava, President of Indian Revenue Service (Customs and Central Excise) officers association.
GST, Jaitley said, had for the past several years been considered as a larger part of policy consensus in India and an important taxation reform that would lead to the economic integration of the country.
The decision came after a meeting of representatives of IRS (Customs and Central Excise), All India Association of Central Excise Gazetted Executive Officers, All India Central Excise Inspectors’ Association and All India Central Excise and Service Tax Ministerial Officers Association, comprising 70,000 personnel.
The investiture ceremony for the recipients of the Presidential Award of Certificate of Appreciation will be held on 27th January, 2017, at Mavalankar Hall, Rafi Marg, New Delhi.
Upset over this decision of ceding most of taxpayers under GST to states, the association of Indian Revenue Service (IRS) Officers from customs and central excise on Monday (January 23, 2017) passed a resolution
Since the GST will miss the April 1 deadline, the indirect tax receipts estimates in the upcoming Budget for 2017-18 will include a combination of excise and service tax for three months and GST for the next nine months.
If they do not have PAN, then first they have to obtain PAN from Income Tax Department and the registration details have to be updated in the ACES portal www.aces.gov.in.
The two day meeting of the GST was held in New Delhi on 3rd and 4th of January 16. The next meeting is going to be held on 16th of January, 2017.
Fresh issue on Definition of territory-Demonetisation impact on compensation formula-The contentious issue of dual control-The target date-Representation from industrial sectors -
National Academy of Customs, Excise and Narcotics (NACEN) has already trained about three-fourth of the targeted 60000 field officials who would be instrumental in implementing the new indirect tax regime.
The point wise outcome of the seventh GST Council Meet on Compensation Law-Dual Control-Implementation Date and Conclusion
Moglix is a B2B e commerce platform that endeavours to simplify the GST processes for the companies that buy and sell on its platform. Now SMEs (Small and Medium Enterprises) and even large suppliers and buyers can use Moglix’s GST platform
Ninety-nine Sections the Model GST Law have already been considered by the Council and remaining Sections will be discussed in the next meeting of the Council scheduled for 22-23 December, 2016.
The dual control, IGST law and compensation law will be discussed when the council meets next on December 22 and 23. With this the possibility of rolling out GST from April 1, 2017, appears to be ruled out.
There is a possibility that the Bills may be brought as Money Bills and are passed in the Lok Sabha but Rajya Sabha still may stall it for 14 days. Thus It is unlikely that the Bills are passed by the Parliament during the current session.
GST Council Meeting inconclusive on first day- Branded gold coins exempted from Central Excise Duty
The HC had ordered to review the reserve price of Rs 152 crore. The department official refused to share the quantum of price reduction saying doing so would hamper sale prospects.
As 95 per cent of the importers are now paying duty through e-payment and these documents can be viewed on the ICEGATE e-payment Gateway, the need for print-out of GAR 7 Forms /TR6 Challans is not required.
The Revised Model CGST/SGST Law has 27 Chapters containing 197 Sections and 5 Schedules as against 25 Chapters containing 162 Sections and 4 Schedules in the MGL (Earlier Model CGST/SGST Law).
GSTC meeting postponed by a week-Normal work hampered due to pen down strike of AICCTA-GST exemption list may contain about 80 items
Banks integrating IT systems with RBI and GSTN-IRS Officers Association demands retention of service tax assessees-Subramanian Swamy may take the GSTN matter to SC
A day long seminar was held on November 19, in Manekshaw auditorium, in Delhi cantonment was attended by joint secretaries of all ministries. In the interactive seminar, the Cabinet Secretary gave lessons to 400 joint secretary rank officers of the central government on the impact of Goods and
Due to demonetisation issue, Government may introduce three GST Bills in the later half of the Winter Session of the parliament which has begun on November 16 and will end on December 16. This session is scheduled to have a total of 22 sittings.
CBEC puts up pavilion at IITF-Congress to oppose the GST Rate of 28 percent- AICCTA plans pen down strike
M Subramanyam, commissioner of Customs, confirmed this type of smuggling as a new mode of concealment used at MIA (Mangaluru International Airport).
The portal that will not only integrate the assessees paying service tax, excise, but will also help in building the IT backbone for online registration, refund, return filing and tax payment.
The officials intercepted a car at Chenglepet near here, and its occupants revealed that gold bars were concealed under the front seat of the vehicle.
As per the decision taken by the Goods and Services Tax Council (GSTC) on November 3, 2016, GST will be levied at multiple rates ranging from 0 per cent to 28 per cent. The rates are 0, 5, 12, 18 and 28 per cent.
This is one of the largest seizures of Mandrax not only in India, but also in the world. DRI has arrested Bollywood producer Subhash Dudani in this connection.
The states had so far been led to believe that the service taxpayer base was 1.1 million whereas the new data supplied to the state finance ministers reveal that it was actually 3.05 million—almost thrice of what was assumed so far.
Since its incorporation on March 28, 2013, the GSTN had used Rs 64 crore towards payments to its vendors and employees out of the central government's sanctioned grant of Rs 315 crore for the first three years.
Deputy Commissioner at Pune Customs, K Shubhendra informed that that the gold bars of 'Valcambi Suisse' mark were concealed in plastic bags and were found to be collectively weighing 9.1 Kgs and collectively valued at Rs 2.8 crore.
The Air Intelligence Unit of the customs checked the passenger on-board a flight when he was travelling from Muscat to Chennai via Hyderabad,
In the coming days, the CAG will take measures that would enhance the effectiveness of revenue audit such that it contributes more effectively to the fiscal sustainability of the governments, he added.
The AIU recovered 12 gold bars of 10 grams each, which were worth Rs 38 lakh. “The modus operandi is that the flyer leaves the bag at a pre-decided location, while an airport staffer takes the gold out of the airport. In this case, the staffer may have panicked,” said the officer
“On this date (November 8), we are releasing enrolments. This means getting these existing eight million assessees on to our system. This move will help them do business without any hassle from April 1 next year, which is the likely GST implementation date,” Prakash Kumar
DGCEI has detected and seized massive records of unaccounted transactions to the tune of Rs 2300 crore at a secret office of a Kanpur-based iron and steel products maker.
On examining the passenger's baggage, assorted currencies i.e. USD 340000, Australian dollars 14000, Saudi Arabian Riyal 136000, Qatar Riyal 82500, UAE Dirham 8500 and Yen 100000 were recovered from his possession.
The centre proposed four tax slabs of 6, 12, 18 and 26 per cent with the highest rate to apply on about one fourth of the taxable items
AICCTA will be holding a mass protest against the central government on Monday (October 17, 2016) at Jantar Mantar in Delhi, for 'depriving' the states of the power to enforce and collect taxes on goods and services.
AIACEGEO had planned to hold lunch hour dharnas on November 9, wearing black badge in office on December 7, day-long protest on January 5 and mass casual leave on budget day by all officers.
The budget is usually presented on the last working day of February, but the government has decided to advance it for clearing various laws relating to Goods and Services Tax.
The website will be opened for public use sometime in November where taxpayers such as dealers, manufactures and service providers can register themselves for GST.
FAQs on GST
CBEC has warned its employees of disciplinary action if they indulge in criticism of the government and its GST policies.
Chinese fire crackers worth Rs nine crore have been seized by DRI from six big containers at Inland Container Depot in Tughlaqabad (ICD TKD).
CBEC has invited expression of interest (EOI) from professional institutes to be classified as approved training partners (ATPs) for imparting training on GST to the industry.
IT and financial services firms can become GST Suvidha Providers and extend specialised help to tax payers for complying with the upcoming Goods and Services tax regime.
This implies that commissioners (audit) will be judge of their own actions which is against natural justice-Till now, audit commissioners raise objections, recommend penalty against assessees who don’t pay full taxes.
The country will be divided into 24 zones and 107 GST commissionerates. Each commissionerate will have oversight rights over 15,000-20,000 assessees with combined revenues of about Rs 5000 crore
AICEGEO claims that No need to say that we require a strong and powerful Centre in our federal system and AICCTA claims that Union government was acting against the principles of the division of powers between the Centre and States.
The Pune customs seized seven drones worth Rs1.2 crore, which were imported in parts from Canada to be assembled in India-Without a Department of Telecom license, drones cannot be brought into India
First batch of ten robots have started working as customs officers at three ports in China’s Guangdong province
Almost all the officers and employees will have little work and there will be no promotions and creation of new jobs in the department
Cracks surfaced between some states and Centre regarding the Centre’s administrative control of existing service tax assessees, a decision which was agreed upon in the first meeting.
The GST Council, that will meet today i.e. on September 30, will have the hard task of identifying the items to be exempt from the goods and services tax (GST)
Members staged a protest by wearing black bands against the GST Council’s decision to keep all service tax assessees within the jurisdiction of the central government.
The project will help in implementation of Goods and Services Tax (GST), extension of the Indian Customs Single Window Interface for Facilitating Trade (SWIFT) and other taxpayer-friendly initiatives under Digital India and Ease of Doing Business of CBEC.
In the wake of the Delhi High Court order dated 03.06.2016, the audit of the service tax units was stopped by the service tax authorities.Now they can resume the audit of service tax entities.
CBEC has invited comments on draft rules by Wednesday. The draft rules provide for online registration by residents within three days of submission of application.
Arun Goyal, a 1985 batch IAS officer of Union Territory cadre, is at present working as Additional Secretary, Project Monitoring Group, Cabinet Secretariat.
Lt Governor Najeeb Jung effected a reshuffle in the responsibilities of six IAS officers working in the Delhi government and appointed senior IAS officer H Rajesh Prasad as the new VAT Commissioner.
S Ramesh, a 1981 batch officer of Indian Revenue Service (Customs and Central Excise), presently working as Director General of Systems, has been appointed as member in Central Board of Excise and Customs (CBEC).
The Centre and the states have agreed on two crucial issues—the revenue threshold limit below which traders will be exempted from GST and the sharing of administrative powers between the two.
It says the chairman (finance minister) of the council will decide where each minister has to sit and that the ministers have to register their attendance through hajari.
The GST rates and the list of exempted goods and services are seen as other possible points of confrontation, although the Centre has agreed to raise the threshold for taxation to Rs 25 lakh instead of Rs 10 lakh proposed in the draft GST Bill.
The passenger, identified as Harjinder Singh Chhabra, was found carrying 676 grams (58 Tolas) of gold bars worth Rs 19.7 lakh. He was flying from Dubai. He visited the washroom of the immigration area, following which gold bars concealed in a tissue box were recovered.
The 268-page frequently asked questions (FAQ) booklet, released by Finance Minister Arun Jaitley, answered over 500 questions on 24 topics, including registration, valuation and payment, scope and time of supply, refunds, seizure and arrest.
The Finance Minister has reportedly assured them that the officers of the department as well as the Central Board of Excise and Customs (CBEC) would be key to GST, and the interest
finance ministry officials said, the Constitution amendment Act on GST does not state how a cess is to be treated under the new regime. The Act leaves it to the GST Council to decide which cess may be subsumed in GST.
Two accused--a Guwahati-based businessman and his Delhi-based aide--have been arrested by the DRI and sent to judicial custody. They had brought gold to Delhi from Guwahati on 617 occasions by declaring it as the valuable cargo
“DoR (department of revenue) examined the validity and implications of notifications dated September 10 and 16 with respect to existing taxes imposed by the Union and states. There is no legal infirmity in these notifications,” Revenue Secretary Hasmukh Adhia tweeted.
The development comes after IRS Officers Association Resolution dated 12th September, 2016 (Copy available here) sought that centre should hold majority stake in GSTN
There were two confusions roaming through social media on Sunday, September 18, 2016. The notification says the government will not levy excise duty on goods other than petroleum products from this date.
The Road Transport and Highways Ministry has decided that complementary activities should happen for GST implementation. It has identified 80 inter-state check points pan-India to be augmented for smooth flow of goods
The goods and services tax (GST) may have multiple rates on the lines of some European countries and a revenue neutral rate will not be possible initially
States want sole powers to assess, scrutinise and enforce the GST on entities with annual turnover of up to Rs 1.5 crore and dual control over that.
Goods and service tax (GST) is a simplified tax structure and industries should have a positive outlook towards it, said commissioner of customs S Khader Rehman.
The prime minister directed that all steps including preparation of Model GST laws and rules, establishment of IT infrastructure, training of officers of Central and State Governments must be completed much before 1st April, 2017.
Government is of the view that the basic tenet of the GST regime would be that it is “pro-poor” with 50 per cent of essential goods and services exempted from any tax.
The council will be chaired by Union Finance Minister and have Minister in charge of Finance or Taxation or any other Minister nominated by each State Government as its member.
It is the council's responsibility to have one uniform rate of GST tax to be introduced all over India. It will also decide the threshold for levy of the tax, as well as the dispute resolution mechanism.
BJP MP Subramanian Swamy has been opposing majority stake for private entities in GSTN and has already written to Prime Minister Narendra Modi objecting to this.
The first meeting of the newly constituted GST Council, which will decide on the rates, exemption and threshold, will be held on September 22 and 23
The GST council will be responsible for deciding various issues including the GST tax rate and how the new tax regime will function. The council will be headed by Union Finance Minister Arun Jaitley and members will comprise of state Finance Ministers.
He pointed out that it is GST Council's responsibility to have one uniform rate of GST tax to be introduced all over India.
The officers of the Mumbai airport customs Air Intelligence Unit (AIU) on Thursday intercepted six passengers arriving from Bangkok and seized 24 pieces of gold weighing 4.681 kilograms worth Rs 1.36 crore.
The GST Council will decide, among other things, the goods and services tax (GST) rate and prepare a model Bill for operationalisation of the new tax regime.
The two consignments in which collectively 539 old coins from Pakistan were seized some time ago by the Land Customs Station at Attari had have now turned out to be priceless antiques of various eras.
President Pranab Mukherjee on Thursday (September 8, 2016) gave his assent to the landmark Goods and Services Tax bill. The GST Bill has become an Act.
Finance Minister Arun Jaitley on Wednesday said the government was running against time in implementing the Goods and Services Tax (GST) by April 1, 2017
Senior customs officials said that this is yet another measure in a series of trade facilitation initiatives taken by the government recently to help businesses cut transaction costs.
The townhall type meeting is part of a massive outreach programme planned by the Revenue Department in the Finance Ministry. Already radio jingles have started playing and plans are afoot to begin social media publicity
Prime Minister Narendra Modi for enacting the Goods and Service Tax bill, describing it "as an example of bold policy in an otherwise difficult global economic scenario".
Speaking on the resolution, Chief Minister Vasundhara Raje said that the GST will have a very positive impact and states including Rajasthan will get advantages.
The court had earlier passed an order on 18 July and directed Mallya and Agarwal to be present for the court hearings in the service tax department case. However, Mallya’s counsel had filed an exemption plea.
Odisha Assembly passed the Bill unanimously. With this, the minimum requirement of 50 per cent of states and UTs ratifying the Constitution (122nd Amendment) Bill has been completed. The President can now notify the GST Council,
Gold in the form of assorted jewellery and bars totally amounting to Rs 65 lakh, which was lying abandoned in plastic bundles in the rear toilet of Air India flight upon its landing at the Dabolim airport.
FICCI, CII and Assocham are meeting the state finance ministers to highlight concerns raised by several sectors. These sectors include, IT & ITES, financial services, e-commerce, renewable and energy sectors.
According to representation made at the meeting, companies like Flipkart, Amazon India and Snapdeal are only ‘service providers’ to the vendors and as such are liable to pay GST only on service income.
After supporting the bill in Parliament, the Mamata regime had listed it for discussion on Monday and withdrawing it shows political opportunism. To claim that the Centre is crushing the federal structure is far from the truth
With this, 50 per cent of States have passed the Bill, paving way for the presidential assent, Chief Minister Laxmikant Parsekar said.
Thirteen states – Assam, Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Madhya Pradesh, Maharashtra, Nagaland, Telangana and Mizoram have already ratified the Bill.
Mizoram Assembly today (August 30, 2016) ratified the Goods and Services Tax (GST) Constitutional Amendment bill by adopting an official resolution, becoming 13th state to have approved the legislation
Both the houses unanimously passed a resolution ratifying the GST Bill (122nd Constitution Amendment Bill, 2014). In the state assembly, Chief Minister K Chandrasekhar Rao hailed the passing of unanimous resolution and said this would set a good precedent.
Haryana Vidhan Sabha Monday (August 29, 2016) unanimously ratified the Constitution Amendment Bill on Goods and Services Tax amendment during the ongoing monsoon session.
Both Houses of the Maharashtra Legislature met today (August 29, 2016) for a special one day session to approve the Constitution (122nd Amendment) (Goods and Services Tax) Bill, passed by Parliament earlier this month.
Parliament has to pass legislation on Central GST and Integrated GST , which will pave way for the Goods and Services Tax, to be approved within November or by early December.
The West Bengal government has postponed a House debate on the GST bill indefinitely. According to a Trinamool Congress functionary, the debate scheduled for August 29, before passing the legislation, was deferred after the Centre's notification to monitor state treasuries was issued.
Introducing the bill, Minister for Parliamentary Affairs Kiyanilie Peseyie said the revenue of the state would go up as tax evasion would be checked due to transparency and broadening of tax base.
The DRI sleuths carried out the search of a container at Container Freight Station in New Manali near Chennai. The consignment was sent by a Singapore-based private firm-BLPL to a local importer- Thivya Agencies
The President said that collection of revenue was a very important responsibility of the State. The job of the officers was to facilitate the State in collection of revenue so that the Government could get its due share of revenue.
With seven states ratifying the landmark legislation, it’s close to its halfway mark of the requirement ratification by at least 16 states before it can be sent for presidential assent.
The ratification of the bill comes in quick succession after the Chhattisgarh assembly passed it unanimously on Monday.Himachal, Assam, Jharkhand and Bihar state assemblies have also passed the Bill.
Before Chhattisgarh, Himachal, Assam, Jharkhand and Bihar became the first four states to pass the bill. In New Delhi, the Aam Aadmi Party government only last week said it will place the GST Bill for ratification
The Delhi Assembly on Wednesday (August 24,2016) ratified the Goods and Services Tax bill with Deputy Chief Minister Manish Sisodia stating that it was the biggest tax reform in India.
Officers of the Directorate of Revenue Intelligence (DRI) seized 3.986 kilograms of smuggled gold bars and foreign currencies at Tiruchi airport on 16th August, 2016. Acting on specific intelligence of gold smuggling through international combo flights which carry domestic
The Bihar Assembly on Tuesday (August 16, 2016) unanimously passed the Goods and Services Tax (GST) Bill at a special session. This makes Bihar the second state after Assam and first non NDA state to pass the Bill, recently passed by Parliament.
“Assam will be remembered as the first state in the country to ratify the GST constitutional amendment bill,” Assam Chief Minister Sarbananda Sonowal told news agency ANI.
Marking an end to the long and tumultuous debate on GST, the Rajya Sabha today i.e. on August 3, 2016, approved the crucial 122nd Constitutional amendment to turn the bill into law. The Lok Sabha had already passed the key bill
Political parties showed rare unanimity in the Rajya Sabha on Wednesday to pass a bill that amends the Constitution to enable the Goods and Services Tax or GST, India's biggest tax reform ever. Only the AIADMK opposed it and staged a walkout.
As the GST reaches its final stages, the historic legislation promises to unify the tax system for the nation and increase the GDP by 2 per cent.
The newspapers are saying the passage of the GST Bill is a historic day for the country, a game changer for all of us. But you are all local political workers. What are your views?