GOODS AND SERVICES TAX (GST)

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GST Revenue Collections

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GST Revenue Collections

GST - 3 Years of Commitment

A Statistical Report on Completion of 3 years of Goods and Services Tax

I. GST Laws and Rules

1. THE CONSTITUTION (ONE HUNDRED AND FIRST AMENDMENT) ACT, 2016
2. GST Acts
THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 (CGST Act, 2017)
THE INTEGRATED GOODS AND SERVICES TAX ACT, 2017 (IGST Act, 2017)
THE UNION TERRITORY GOODS AND SERVICES TAX ACT, 2017 (UTGST Act, 2017)
THE GOODS AND SERVICES TAX (COMPENSATION TO STATES) ACT, 2017 (GST (CS) Act, 2017)
3. GST Rules Advance Ruling Rules and Formats
Anti Profiteering Rules
Appeals and Revision Rules and Formats
Assessment and Audit Rules , Assessment Formats and Audit Formats
E-Way Bill Rules
Composition Rules and Formats
Valuation Rules
Input Tax Credit Rules and Formats
Tax Invoice, Debit & Credit Notes Rules
Payment of Tax Rules and Formats
Refund Rules and Formats
Registration Rules and Formats
Return Rules and Goods and Services Tax Practitioner Formats, Mismatch Formats, Return Formats
Transition Rules and Formats
Credit Transfer Document
Accounts and Records Rules and Formats
4. GST Rates GST Rates on Goods Chapter wise GST Rate Schedule for Goods decided in the GST Council Meeting held on 18.05.2017
Chapter wise GST Rate Schedule for Goods Decided in the GST Council Meeting Held on 03.06.2017
GST Compensation Cess Rates Decided in the GST Council Meeting Held on 18.05.2017
Addendum to the GST Rate Schedule for Goods - 18.05.2017
Addendum to the GST Rate Schedule for Goods - 03.06.2017
IGST Exemption, Concession List - 03.06.2017
GST Rates Approved by the GST Council Meeting Held on 11.06.2017
IGST Exemptions Approved by the GST Council Meeting Held on 11.06.2017
Revised Threshold for Composition Scheme Approved by the GST Council Meeting Held on 11.06.2017
Composition Levy & GST Rate on Certain Goods Decided in 17th GST Council Meeting Held on 18.06.2017
GST Rates on Services GST Rate Schedule for Services
List of Services under Reverse Charge
Classification Scheme for Services under GST
Decisions Taken by the GST Council in the 16th Meeting Held on 11.06.2017
Decisions taken by the GST Council in the 17th Meeting Held on 18.06.2017

II. GST Related News Headlines

16.01.2021

‘Pan masala firms serial tax defaulters’.

Pan Masala companies have been found as the serial tax evaders in the Delhi, says a survey conducted by the Department of Trade and Taxes of Delhi government.

During the December, 2020, the Anti Evasion Cell - 1 of State GST, Delhi has conducted 46 surveys on the premises of taxpayers of different natures such as pan masala/ gutka, craps and metals, hardware, etc. wherein the department has realised ?5.41 crore tax and penalty from the taxpayers. It has also blocked Input Tax Credit of defaulter tax payers of ?4 crore.

During the search, some premises were sealed and prohibition order was also issued to the taxpayers.

read more »

10.01.2021

GST authorities arrest 215 persons in fake invoice cases, recover over Rs. 700 crore in 2 months.

The Directorate General of GST Intelligence (DGGI) and the CGST Commissionerates have so far arrested 215 persons, including six chartered accountants and one company secretary, and recovered more than Rs. 700 crore from these fraudsters, sources said.

The Directorate General of GST Intelligence (DGGI) and the CGST Commissionerates have recovered more than Rs. 700 crore and arrested 215 persons in the last two months in cases related to fake GST invoices that were used to illegally avail or pass on input tax credit (ITC).

GST intelligence authorities have registered about 2,200 cases and unearthed more than 6,600 fake GSTIN entities during this period, sources said.

The Directorate General of GST Intelligence (DGGI) and the CGST Commissionerates have so far arrested 215 persons, including six chartered accountants and one company secretary, and recovered more than Rs 700 crore from read more »

08.01.2021

DGGI detects fraudulent transactions worth Rs 498.5 crore by entities in Maharashtra.

Nagpur: The Directorate General of GST Intelligence (DGGI) has busted fraudulent transactions of Rs. 498.50 crore by 26 entities across Maharashtra, an official release said. These include fake Input Tax Credit (ITC) of Rs. 12.78 crore which was recovered in cash on the spot and one person was arrested, the DGGI release said.

The release informed that as part of the ongoing drive against fake invoices, multiple searches were conducted by officers of DGGI, Nagpur Zonal Unit at a number of places covering diverse industrial sectors across Maharashtra during the last fortnight.

During the investigations, it was observed that the entities covered were trading in a wide variety of taxable goods ranging from supari and coal to textile articles and iron and steel products.

A large number of entities were found to be non-existent or non-business read more »

03.01.2021

Government crackdown on 7,000 GST evaders, 185 arrested.

The government netted a record GST collection of Rs. 1.15 lakh crore in December 2020, helped by the action against tax evaders alongside pick up in the economy.

Armed with data analytics and information from agencies, the government has launched a massive crackdown on GST evaders, initiating action against 7,000 entities including arrest of 187 -- a campaign that contributed to buoyancy in tax collection, Finance Secretary Ajay Bhushan Pandey said on Sunday.

The government netted a record GST collection of Rs. 1.15 lakh crore in December 2020, helped by the action against tax evaders alongside pick up in the economy.

In an interview to PTI, Pandey said action against fake invoicing racket in last one- and-a-half months has led to arrest of 187, including five chartered accountants and one company secretary.

"Many of them read more »

03.01.2021

One arrested in Delhi by GST authority for tax evasion worth over Rs. 800 cr.

Based on the evidence gathered, stocks seized and confessional statements recorded the total duty evasion as estimated to be approximately Rs 831.72 crore, it said.

The Goods and Services Tax (GST) authority has unearthed evasion of Rs 831.72 crore tax in Delhi after raiding a manufacturing unit that was indulging in clandestine supply of gutkha, pan masala and other tobacco products without paying tax, the finance ministry said on Sunday.

The Central GST Delhi West Commissionerate searched the premise and found illegal manufacturing of gutkha, pan masala and tobacco, it said.

“Around 65 labourers were found working at the illegal factory. The finished product of gutkha is being supplied to various states in India. The searches resulted in the seizure of finished gutkha and raw materials such as chuna, sada kattha, tobacco leaves, etc. valued at Rs. read more »

01.01.2021

GST Collections Hit Record High Of Over Rs. 1.15 Lakh Crore In December 2020: Finance Ministry.

Revenues for December 2020 was 12 per cent higher than the GST revenues in the same month last year

The gross goods and services tax (GST) revenue collected in the month of December 2020 was Rs. 1,15,174 crore of which CGST was Rs. 21,365 crore, SGST was Rs. 27,804 crore, IGST was Rs. 57,426 crore (including Rs. 27,050 crore collected on import of goods) and cess was Rs. 8,579 crore (including Rs. 971 crore collected on goods imports). The total number of GSTR-3B Returns filed for November up to December 31, 2020, was 87 lakhs.

The government settled Rs. 23,276 crore to CGST and Rs. 17,681 crore to SGST from IGST as regular settlement. The total revenue earned by the Union government and the state governments after regular settlement in the month of December 2020 was Rs. 44,641 crore for read more »

24.12.2020

Businesses with monthly turnover of over Rs 50 lakh to pay at least 1% GST liability in cash.

The Central Board of Indirect Taxes and Customs CBIC has notified certain changes to the Goods and Services Tax (GST) Rules, bringing in stringent conditions for getting GST registration as well as for businesses to settle tax liability using input tax credit.

The CBIC has introduced Rule 86B in GST Rules, to be applicable from January 1, 2021, which restricts use of input tax credit for discharging GST liability to 99 per cent.

"... The registered person shall not use the amount available in electronic credit ledger to discharge his liability towards output tax in excess of 99 per cent of tax liability, in cases where the value of taxable supply ... in a month exceeds Rs 50 lakh," the CBIC said.

However, this restriction will not apply where the managing director or any partner has paid more read more »

08.12.2020

GST evasion of over Rs. 11,500 cr detected in special drive; 114 arrested.

Law Committee of GST Council has suggested a two-pronged strategy to curb fake invoice.

GST officials have detected fake invoices of GST amounting to over Rs. 11,500 crore in a near month-long nationwide drive. This is over 10 per cent of the monthly revenue.