GOODS AND SERVICES TAX (GST)

16.11.2023

FPJ Exclusive: US Diplomat Alleges Harassment At Mumbai Airport; Sparking Tensions Between Consulate And Customs.

Mumbai Airport Customs denied any misconduct in asking the diplomat about the gold bracelets and ornaments.

Mumbai: A spat over the alleged detention and search of US diplomat Wendy Washington by customs officials at the Chhatrapati Shivaji Maharaj International Airport (CSMIA) recently has created unpleasantness in ties between the US consulate and the Customs Department.

In a strongly worded letter, Washington has complained to the customs commissioner at CSMIA about the alleged harassment, illegal detention, high- handed and rude behaviour by certain customs officers which was in violation of the Geneva Convention.

What are the diplomat's allegations?

According to the complaint, Washington was detained on October 28 night when she landed from Bangkok and her baggage was searched. She alleged that customs deputy commissioner Sanjeev Chetule detained her for over 30 minutes despite her diplomatic read more »

01.11.2023

GST revenue collection for October 2023 is second highest ever, next only to April 2023, at Rs. 1.72 lakh crore; records increase of 13% Y-o-Y.

Revenue from domestic transactions (including import of services) is also 13% higher Y-o-Y

Average gross monthly GST collection in FY 2023-24 now stands at Rs. 1.66 lakh crore; 11% higher Y-o-Y

The gross GST revenue collected in the month of October, 2023 is Rs. 1,72,003 crore out of which Rs. 30,062 crore is CGST, Rs. 38,171 crore is SGST, Rs. 91,315 crore (including Rs. 42,127 crore collected on import of goods) is IGST and Rs. 12,456 crore (including Rs. 1,294 crore collected on import of goods) is cess.

The government has settled Rs. 42,873 crore to CGST and Rs. 36,614 crore to SGST from IGST. The total revenue of Centre and the States in the month of October, 2023 after regular settlement is Rs. 72,934 crore for CGST and Rs. 74,785 crore for SGST.

The read more »

31.10.2023

Organisational Restructuring of the CBIC and Review of the Indirect Tax Acts.

1. As reported in the online portal www.zeebiz.com on 06.08.2023, the Central Board of Indirect Taxes and Customs (CBIC) is mulling a comprehensive restructuring of the organisation, set up 6 decades ago, to make it more effective and remove overlapping, if any, as many of its functions have undergone transformation following introduction of new technologies, abolition of service tax and roll-out of GST which has subsumed several levies.

1.1 The Central Board of Indirect Taxes and Customs or CBIC (formerly known as Central Board of Excise and Customs) was set up in 1964. As mentioned in the said news, last in 2014, a cadre restructuring and reorganisation of field formation was undertaken under which 23 central excise zones, 4 service tax zones, 11 customs zones, 60 appeal commissionerates, 45 audit commissionerates, 8 large taxpayer units and 20 directorate generals/directorates were approved to read more »

01.10.2023

Rs. 1,62,712 crore gross GST revenue collected during September 2023; records 10% Year-on-Year growth.

GST collection crosses Rs. 1.60 lakh crore mark for the fourth time in FY 2023-24

Rs. 9,92,508 crore gross GST collection for the first half of FY 2023-24 marks 11% Y-o-Y growth

Average monthly gross GST collection in FY 2023-24 at Rs. 1.65 lakh crore with 11% Y-o-Y growth

The gross GST revenue collected in the month of September, 2023 is ?1,62,712 crore out of which CGST is Rs. 29,818 crore, SGST is Rs. 37,657 crore, IGST is Rs. 83,623 crore (including Rs. 41,145 crore collected on import of goods) and cess is Rs. 11,613 crore (including Rs. 881 crore collected on import of goods).

The government has settled Rs. 33,736 crore to CGST and Rs. 27,578 crore to SGST from IGST. The total revenue of Centre and the States in the month of read more »

06.09.2023

ED says IRS officer Sachin Sawant gifted Rs 1.75-lakh anklet to Malayalam actor Navya Nair.

The ED makes the claim in its chargesheet filed against the officer accused of having amassed wealth disproportionate to his known sources of income.

The Enforcement Directorate, in its chargesheet filed against IRS officer Sachin Sawant, has referred to a statement to claim that he had visited Kochi 15-20 times to meet Malayalam actor Nayva Nair and also gifted her a gold anklet worth Rs 1.75 lakh.

Sawant, additional commissioner of customs and GST who has also served as a deputy director of the ED in Mumbai, has been named in the chargesheet along with his father, brother, chartered accountant and a company allegedly linked to them. He was arrested in June by the ED in a money-laundering case where it claimed he had assets disproportionate to his income and that the proceeds of crime were around Rs 4.11 crore.

01.09.2023

Centre, states collect Rs. 1.59 trillion in GST in August.

Monthly GST collection was at Rs. 1.65 trillion in June, the same as the average monthly GST collection projected for this fiscal by policy makers.

New Delhi: Central and state governments collected Rs. 1.59 trillion in Goods and Service Tax (GST) revenue in August, an increase of 11% year-on-year, but lower than the mop-up in June, data from finance ministry showed on Friday.

Monthly GST collection was at Rs. 1.65 trillion in June, the same as the average monthly GST collection projected for this fiscal by policy makers.

Compared to the receipts in July, GST revenue in August showed moderation in the tax collected by the Centre (CGST), states (SGST) and the revenue from imports and inter-state sales (IGST) but experts said the slight fluctuation in monthly tax figures do not suggest anything of concern about India’s consumption read more »

06.08.2023

CBIC mulls organisational restructuring to make it more effective, do away with overlapping.

Extensive use of big data analytics, introduction of faceless assessment in Customs and electronic filing of various documents, claims and payment of taxes have made this organisational restructuring a necessity, an official said.  

The CBIC is mulling a comprehensive restructuring of the organisation, set up 6 decades ago, to make it more effective and remove overlapping, if any, as many of its functions have undergone transformation following introduction of new technologies, abolition of service tax and roll-out of GST which has subsumed several levies.

The Central Board of Indirect Taxes and Customs or CBIC (formerly known as Central Board of Excise and Customs) was set up in 1964.

Last in 2014, a cadre restructuring and reorganisation of field formation was undertaken under which 23 central excise zones, 4 service tax zones, 11 customs zones, 60 appeal read more »

01.08.2023

Rs. 1,65,105 crore gross GST revenue collected for July 2023; records 11% Year-on-Year growth.

Gross GST collection crosses Rs. 1.6 lakh crore mark for 5th time since inception of GST

Revenues from domestic transactions (including import of services) are 15% higher Year-on-Year

The gross GST revenue collected in the month of July, 2023 is Rs. 1,65,105 crore of which CGST is Rs. 29,773 crore, SGST is Rs. 37,623 crore, IGST is Rs. 85,930 crore (including Rs. 41,239 crore collected on import of goods) and cess is Rs. 11,779 crore (including Rs.  840 crore collected on import of goods).

The government has settled Rs. 39,785 crore to CGST and Rs. 33,188 crore to SGST from IGST. The total revenue of Centre and the States in the month of July 2023 after regular settlement is Rs. 69,558 crore for CGST and Rs. 70,811 crore for the SGST.

The revenues read more »

01.07.2023

Rs. 1,61,497 crore gross GST revenue collected for June 2023; records 12% Year-on-Year growth.

Gross GST collection crosses Rs. 1.6 lakh crore mark for 4th time since inception of GST; Rs. 1.4 lakh crore for 16 months in a row; and Rs. 1.5 lakh 7th times since inception.

Average monthly gross GST collection for Q1 of FY2021-22 is Rs. 1.10 lakh crore; FY2022-23 is Rs. 1.51 lakh crore; and FY2023-24 is Rs. 1.69 lakh crore, respectively

The gross GST revenue collected in the month of June, 2023 is Rs. 1,61,497 crore of which CGST is Rs. 31,013 crore, SGST is Rs. 38,292 crore, IGST is Rs. 80,292 crore (including Rs. 39,035 crore collected on import of goods) and cess is Rs. 11,900 crore (including Rs.  1,028 crore collected on import of goods).

The government has settled Rs. 36,224 crore to CGST and Rs. 30269 crore to SGST from IGST. The total read more »

11.05.2023

CBIC rolls out Automated Return Scrutiny Module for GST returns in ACES-GST backend application for Central Tax Officers.

During the recent review of the performance of the Central Board of Indirect Taxes & Customs (CBIC), Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman had given directions to roll out an Automated Return Scrutiny Module for GST returns at the earliest.

In order to implement this non-intrusive means of compliance verification, CBIC has rolled out the Automated Return Scrutiny Module for GST returns in the ACES-GST backend application for Central Tax Officers this week.  This module will enable the officers to carry out scrutiny of GST returns of Centre Administered Taxpayers selected on the basis of data analytics and risks identified by the System.

In the module, discrepancies on account of risks associated with a return are displayed to the tax officers. Tax officers are provided with a workflow for interacting with the taxpayers read more »