CA. Praveen Sharma GST Mitra

 🦚 Namaskar! *GST Updates 28.02.2021* L&T fined Rs 30 cr in alleged 'fake GST invoice' case. GST issue haunts chemists across country. Rajasthan Budget 2021: Rajasthan Govt. proposes Amnesty Scheme, 2021 for Rebate of Tax and Settlement of outstanding demands and disputes. GST Audit for the FY 2019-20 due date is 28th Feb, 2021. In case of any query do let us know directly to +91 9871530510 *All about GST Audit Documentation at our Telegram Channel* _Code of Ethics_ _Audit Checklist_ _MRL_ _Audit Disclosures_ _Recipient Letter to Supplier_ Regards *CA. Praveen Sharma* +91 9871530610 _NIRC Candidature_ Save my Mob. No. for more GST updates. *Join our Telegram Channel:* https://t.me/praveengst *Follow on Twitter:* @capraveensh

 

 Namaskar! GST Updates 27.02.2021 Refer msgs for GSTR-3B return Matter has been taken up with Deptt. Deptt has informed that because of some discrepancies in QRMP data, these msgs have been sent. They are in the process of rectifying the same. Maharashtra: HC refuses to extend last date for GST returns. The judges also noted that it is a professional body of GST practitioners who are before us and not any individual taxable persons expressing any difficulty in adhering to the extended timeline of February 28, 2021. MNC’s liaison office not required to pay GST: AAAR Karnataka. Hospitals may have to pay GST on food to inpatients. The tax department is questioning hospital officials on this aspect and in some cases has issued notices to some hospitals. Various representation forward seeking extension of GSTR-9/9C to CBIC. GST Audit for the FY 2019-20 due date is 28th Feb, 2021. In case of any query do let us know directly to +91 9871530510 All about GST Audit Documentation at our Tele...

 🦚 Namaskar! *GST Updates 26.02.2021* Bharat Bandh today against GST, fuel price hike, E-way bill. Centre cannot charge GST on power services: Rajasthan High Court. Press Release regarding signing of MoU between CBIC and MCA ➡️https://t.co/7NxgrH657Z. Various representation seeking extension of GSTR-9/9C to CBIC. GST Audit for the FY 2019-20 due date is 28th Feb, 2021. In case of any query do let us know directly to +91 9871530510 *All about GST Audit Documentation at our Telegram Channel* _Code of Ethics_ _Audit Checklist_ _MRL_ _Audit Disclosures_ _Recipient Letter to Supplier_ Regards *CA. Praveen Sharma* +91 9871530610 Save my Mob. No. for more GST updates. *Join our Telegram Channel:* https://t.me/praveengst *Follow on Twitter:* @capraveensh

   Namaskar!   GST Updates 25.02.2021   Advisory on GSTR-9: The taxpayers are advised to ensure that values are reported upto two decimal places in the GSTR-9 offline utility. The error “Error! Invalid Summary payload” after uploading the JSON created from the Offline Utility of GSTR-9 is reported due to reporting values upto three decimal places instead of two decimals.   GST collection in Feb expected to top ₹1 lakh crore.   Bharat Bandh on 26 February 2021: Over 8 Crore Traders to Protest Against GST, Fuel Price Hike and E-Way Bill.   Govt may address GST anomaly on domestic shipping firms amid SCI strategic sale.   5% GST on ‘Nizam Pakku’ betel nut: AAAR sets aside AAR order (TN).   GSTR 9C offline utility is upgraded: GST Auditors make sure to upgrade latest version tool.   GST Audit for the FY 2019-20 due date is 28th Feb, 2021. In case of any query do let us know directly to +91 9871530510   ...

Many exporters, who had been issued notices by the Directorate of Revenue Intelligence (DRI) for availing GST exemptions where exports preceded imports, have managed to get a temporary relief from the Gujarat High Court. The high court said that it would be hearing the complaints by the exporters.

 14 persons arrested; awareness campaign launched

 Food processors have asked for lower and equitable goods and service tax rates on packaged snacks such as potato chips and pickles ahead of the GST Council meeting next month.

 Sources in the finance ministry expect high GST collections in February as well, after a record mop up in December and January due to anti-evasion measures undertaken.   The nationwide drive against fake GST invoice frauds has yielded record GST collections of Rs 1.15 trillion in December 2020 and Rs 1.2 trillion in January 2021.

 🦚 Namaskar! *GST Updates 24.02.2021* Large resident welfare associations may have to pay GST retrospectively. Expect high GST collections to continue in Feb, say FinMin sources. Industry body AIFPA pushes for lower GST rate on packaged snacks and foods. Natural gas under GST regime likely to benefit tile manufacturers. GST Audit for the FY 2019-20 due date is 28th Feb, 2021. In case of any query do let us know directly to +91 9871530510 *All about GST Audit Documentation at our Telegram Channel* _Code of Ethics_ _Audit Checklist_ _MRL_ _Audit Disclosures_ _Recipient Letter to Supplier_ Regards *CA. Praveen Sharma* +91 9871530610 Save my Mob. No. for more GST updates. *Join our Telegram Channel:* https://t.me/praveengst *Follow on Twitter:* @capraveensh

Government sources privy to the development said that there would not be any increase in GST rates or movement towards converging GST to a three rate structure even during the major part of the next financial year. Only small steps may be taken by the GST Council to correct the inverted duty structure till the time the economic health of the country improves, they said.

The Goods and Services Tax (GST) Council is unlikely to take up rationalisation of tax slabs or tax rates in its next meeting, scheduled to be held in March. It, however, is likely to address the issue of inverted duty structure in the meeting.

 🦚 Namaskar! *GST Updates 23.02.2021* FM Sitharaman says bringing petrol, diesel under GST regime could help in lowering fuel prices. Inverted duty structure is one of the top priorities of the government and is likely to be taken up by the Council in the next meeting. Uber moves Madras HC seeking uniformity in GST for offering pillion rider services. 12% GST on Job work of Thermal spray/metal or metal alloy coating on goods belonging to another person if principal is regisservice: Karnataka AAR. *Preparedness of GST Audit* Join our Telegram Channel for major points. GST Audit for the FY 2019-20 due date is 28th Feb, 2021. In case of any query do let us know directly to +91 9871530510 *All about GST Audit Documentation at our Telegram Channel* _Code of Ethics_ _Audit Checklist_ _MRL_ _Audit Disclosures_ _Recipient Letter to Supplier_ Regards *CA. Praveen Sharma* +91 9871530610 Save my Mob. No. for more GST updates. *Join our Telegram Channel:* https://t.me/praveengst *Follow on Tw...

In its letter to the prime minister, the Confederation of All India Traders (CAIT) called for setting up of a "special working group" at the central level comprising senior officials, CAIT representatives and independent tax experts to review the GST structure and make recommendations to the government.

A total of 250 organizations of tax practitioners, traders, chartered accountants and concerned parties across the country have rallied against the oppressive terms, provisions, and complicated computer system in the Goods and Services Tax (GST) imposed by the Central government Through the All-India Recommendation Committee, Western Maharashtra Tax Practitioners Association (WMTPA) is working to meet these demands. The delegation from Pune recently met union finance minister Nirmala Sitharaman and the union minister of state for finance Anurag Thakur to discuss their demands in New Delhi \

 🦚 Namaskar! *GST Updates 22.02.2021* Simplify GST, trader body tells PM, says penalty system has brought ‘tax terrorism’ to country. CAIT writes to PM Modi about GST issues, alleged violation of e-commerce rules by e-tailers. Bail granted by Rajasthan HC in GST Matter for wrongful availment of itc of 5.88 crores dated 19th Feb 2021. Check Our Telegram page for more details. Different DGGI Units taking turns in arresting same assessee for dealings with different buyers / suppliers.  Fraudsters confused. Lawyers gleeful. Check Our Telegram page for more details. *Preparedness of GST Audit* Join our Telegram Channel for major points. GST Audit for the FY 2019-20 due date is 28th Feb, 2021. In case of any query do let us know directly to +91 9871530510 *All about GST Audit Documentation at our Telegram Channel* _Code of Ethics_ _Audit Checklist_ _MRL_ _Audit Disclosures_ _Recipient Letter to Supplier_ Regards *CA. Praveen Sharma* +91 9871530610 *Your GST mitra* To receive daily ...

 🦚 Namaskar! *GST Updates 21.02.2021* Centre releases Rs 1 lakh crore GST compensation to states since October 2020. GST Council Should Consider Rationalisation, Bring Petrol Under GST: Finance Minister. Partner of Sivakasi fireworks manufacturing company arrested for Rs 22.5 crore GST, excise duty evasion. *Preparedness of GST Audit* Join our Telegram Channel for major points. GST Audit for the FY 2019-20 due date is 28th Feb, 2021. In case of any query do let us know directly to +91 9871530510 *All about GST Audit Documentation at our Telegram Channel* _Code of Ethics_ _Audit Checklist_ _MRL_ _Audit Disclosures_ _Recipient Letter to Supplier_ Regards *CA. Praveen Sharma* +91 9871530610 Save my Mob. No. for more GST updates. *Join our Telegram Channel:* https://t.me/praveengst *Follow on Twitter:* @capraveensh

"The Centre and states both generate revenue from petrol. We can think about bringing petroleum under the GST. Maybe it is a solution,'' said Finance Minister Nirmala Sitharaman

The GST and Central Excise Department, Coimbatore, recently arrested Ramesh Kumar Patel for issuing fake invoices and getting unlawful input tax credit to the tune of ₹ 7.69 crore.

Bharat bandh, Goods and Services Tax, GST, CAIT Traders bodies divided on call for Bharat bandh demanding review of GST provisions Traders’ bodies were divided on the Bharat bandh call on February 26 against provisions of the Goods and Services Tax (GST) as a national-level organisation of small businessmen on Friday said it is opposed to the move. A traders’ body of West Bengal also said that it is not supporting the bandh call. The Confederation of All India Traders (CAIT) on Thursday said all commercial markets across the country will remain closed on February 26 in view of its Bharat bandh call demanding a review of the provisions of the GST regime. Jayendra Tanna, national president of Federation of All India Vyapar Mandal (FAIVM), said, “We are against any kind of Bharat bandh or shop bandh or Chakka Jam.” CAIT Secretary-General Praveen Khandelwal on Thursday said in New Delhi that the All India Transporters Welfare Association supports the Bharat Bandh call and will hold a Chakk...

 🦚 Namaskar! *GST Updates 20.02.2021* Today is the due date to file GSTR-3B for the month of Jan-21 Other than those Opted for Quarterly (QRMPS).  Facility to opt for Composition scheme for FY 21-22 has been enabled at the GST common portal. Last date is 31.03.21. BSE oil & gas index at new 52-wk high; Modi commits to bring gas under GST. Housing societies, clubs rush to rework GST dues over retro amendment. GST Audit for the FY 2019-20 due date is 28th Feb, 2021. In case of any query do let us know directly to +91 9871530510 *All about GST Audit Documentation at our Telegram Channel* _Code of Ethics_ _Audit Checklist_ _MRL_ _Audit Disclosures_ _Recipient Letter to Supplier_ Regards *CA. Praveen Sharma* +91 9871530610 Save my Mob. No. for more GST updates. *Join our Telegram Channel:* https://t.me/praveengst *Follow on Twitter:* @capraveensh

Meerut: Sleuths of Meerut zonal unit of Directorate General of  GST Intelligence (DGGI) have arrested a cement trader and mastermind of Rs 274 crore GST fraud from his"secret office" in Mayur Vihar(Delhi). Jain was produced  before a special court of Chief Judicial Magistrate (CJM) in Meerut and sent to jail.

The central government is in favour of merging the goods and services tax (GST) rates of 12% and 18% into a single slab, a top finance ministry official said, acceding to a demand first made by some states and endorsed by the Fifteenth Finance Commission (FFC).

 🦚 Namaskar! *GST Updates 19.02.2021* Centre in favour of merging two tax brackets in GST: Merger of 12% and 18% GST rate slabs soon. Centre committed to bring natural gas under GST; plans to spend Rs 7.5 lakh cr on oil & gas infra: PM Modi. No escape for those filing fake GST invoices as Budget 2021 empowers Authority to Attach Assets. CBIC to charge Rs.1000 for Handling of mismatch between Shipping Bill and GST returns in Customs Automated System: NN 17/2021. Meerut zone GST unit nabs cement trader from Delhi for Rs 274cr ITC fraud. GST Audit for the FY 2019-20 due date is 28th Feb, 2021. In case of any query do let us know directly to +91 9871530510 Regards *CA. Praveen Sharma* +91 9871530610 Save my Mob. No. for more GST updates. *Join our Telegram Channel:* https://t.me/praveengst *Follow on Twitter:* @capraveensh

  The government is working towards raising the share of natural gas in the energy basket to 15 per cent from the current 6.3 per cent and is committed to bringing it under the Goods and Services Tax (GST) regime to eliminate cascading effect of multiple taxes, Prime Minister Narendra Modi said on Wednesday. We are trying to eliminate the cascading effect of different taxes on natural gas across different states,” he said adding this would help bring down the cost of gas.

The government recently came out with stringent rules for GST, where non-compliance would result in the cancellation of a taxpayer’s GST registration. The key objective of the government here is to curtail fraudulent business practices and the wrongful availing of the input tax credit by businesses.

The Confederation of All India Traders (CAIT) on Thursday said that Goods and Services Return (GST) has become the most complicated legislation in India and so they have decided to call for a nationwide strike on GST issues on February 26.

 🦚 Namaskar! *GST Updates 18.02.2021* Govt committed to bring natural gas under GST regime: PM Modi. CBIC extends Sanction for pending IGST Refund Claims on GSTR-1 and GSTR-3B mismatch error: Big relief to exporters. Bitcoin trading likely to attract Income Tax, 18% GST: Reports. No Recovery on Spot during Search proceedings in GST cases: Gujarat High Court. GST Audit for the FY 2019-20 due date is 28th Feb, 2021. In case of any query do let us know directly to +91 9871530510 Regards *CA. Praveen Sharma* +91 9871530610 Save my Mob. No. for more GST updates. *Join our Telegram Channel:* https://t.me/praveengst *Follow on Twitter:* @capraveensh

The Finance Minister Nirmala Sitharaman in the Budget Speech 2021-22 proposed the 'Provisional Attachment of Assets' of those who are involved in the GST fake invoice of more than Rs 2 crore.

On January 18, the bench, which also included justices Dinesh Maheshwari and Hrishikesh Roy, gave bail to an accused who was behind the bars in connection with a Goods and Services Tax evasion case.

Ahead of the cryptocurrency Bill, the government is likely to levy both income-tax (I-T) and goods and services tax (GST) on gains and trading of bitcoins or cryptocurrencies, said a senior finance ministry official privy to the development. A circular will be released soon, he added. “Bitcoins will be categorised as financial services attracting 18 per cent GST on fee commission collected under this segment. 

 🦚 Namaskar! *GST Updates 17.02.2021* NIC issues list of GSTINs on whom E-Invoicing is Mandatory. Total 73308 GSTNs. GSTN enables a feature to furnish LUT for FY 2021-2022. Major TRAN-1 – Issues and Controversies seen Across India till now. Bitcoin trade may attract I-T, GST; taxes to be paid in this fiscal year. Regards *CA. Praveen Sharma* +91 9871530610 Save my Mob. No. for more GST updates. *Join our Telegram Channel:* https://t.me/praveengst

 🦚 Namaskar! *GST Updates 16.02.2021* GST officers arrest 4 in 3 different cases of ITC fraud of Rs 178 crore. How to register DSC with the GST Portal: GSTN issues user guide. Traders force govt to negotiating table on GST simplification. Finance Ministry releases weekly instalment of ₹6,000 crore to states to meet GST shortfall. Regards *CA. Praveen Sharma* +91 9871530610 Save my Mob. No. for more GST updates. *Join our Telegram Channel:* https://t.me/praveengst

 🦚 Namaskar! *GST Updates 15.02.2021* GST officers to immediately suspend taxpayer's registration for 'significant anomalies' in sales return. Delhi High Court stays payment against Starbucks only if principal Profiteered amount to tune of Rs.1.04 cr is paid. Punjab & Haryana HC refuses to interfere in Investigations conducted by Competent Officers, not contrary to Section 6(2)(b) of CGST Act. Regards *CA. Praveen Sharma* +91 9871530610 Save my Mob. No. for more GST updates. *Join our Telegram Channel:* https://t.me/praveengst

 🦚 Namaskar! *GST Updates 14.02.2021* Best judgment’ assessment awaits GST return non-filers. Assessee not entitled to carry forward and set off of unutilized Cess against GST Output Liability: Rajasthan High Court. Writ Petition challenging Provision for Input Tax Credit under GST: Gujarat High Court issues notice to Govt. GST raid yields Rs 80 lakh, illegal documents: Ludhiana. Regards *CA. Praveen Sharma* +91 9871530610 Save my Mob. No. for more GST updates. *Join our Telegram Channel:* https://t.me/praveengst

 🦚 Namaskar! *GST Updates 13.02.2021* GST Council may consider merging the 12% and 18% tax slab in the next meeting, says Finance Minister Nirmala Sitharaman. GST: CBIC issues SOP for implementation of Provision of Suspension of Registrations under Rule 21A(2A) of CGST Rules, 2017. GST Fraud: Meerut Court refuses to grant Bail to person accused of wrongfully availing ITC. GST compensation cess on vehicles and tobacco might stay till 2025-26. Govt to consider bringing down GST on pesticides to 5% from 18%. Awadh Bar Association boycotts ‘Judicial work’ demanding to establish GST Tribunal State Bench at Lucknow, not Allahabad. Regards *CA. Praveen Sharma* +91 9871530610 Save my Mob. No. for more GST updates. *Join our Telegram Channel:* https://t.me/praveengst

 🦚 Namaskar! *GST Updates 12.02.2021* Budget 2021: Removing GST audit will be retrograde step, ICAI tells govt. QRMP & IFF-Answers to Frequently Asked Questions Visit www.gst.gov.in for more details. Due dates for filing of Form GSTR-3B from the Tax Period of January, 2020. https://www.gst.gov.in/newsandupdates/read/450 Food department seeks 5% GST levy on de-oiled rice bran (DORB). Regards *CA. Praveen Sharma* +91 9871530610 Save my Mob. No. for more GST updates. *Join our Telegram Channel:* https://t.me/praveengst

 🦚 Namaskar! *GST Updates 11.02.2021* Today is the due date of filing GSTR-1 for the month of Jan-2021.(Turnover exceeding Rs. 1.5 cr or opted to file monthly return). CBIC issues Instructions on Procedures to be followed during Search Operation. E-Way Bill is mandatory where value of each Invoice individually is lower than ₹ 50k but in aggregate it exceeds ₹ 50k, says Kerala High Court. DGGI Gurugram arrests man for fraudulently availing Input Tax Credit of Rs 376 cr through 7 Fake Firms. 18% GST applicable on Fabricating Tanks: UP AAR. ICAI wants FM to withdraw Budget proposal on doing away with GST audit: Source Business Standard. ..We have clarified that thousands of crores of rupees collected in tax (GST) happened because of the chartered accountants...It was not self declaration, but because the CA conducted the audit and asked the firm to pay the tax in the Form 9,” Respected Atul Kumar Gupta, President, ICAI said. Regards *CA. Praveen Sharma* +91 9871530610 Save my Mob. No...

 🦚 Namaskar! *GST Updates 10.02.2021* Attention: Functionality to opt in for composition has been made available for FY 2021-22 in the Dashboard of taxpayers at Common Portal.  The eligible taxpayers, who wish to avail the composition scheme may opt in for composition up to 31st March 2021. File your GSTR-1 for the month of January, 2021 before due date. Late fees will attract. GST officers bust network of 46 fake firms used to claim Rs 82 cr ITC. Regards *CA. Praveen Sharma* +91 9871530610 Save my Mob. No. for more GST updates. *Join our Telegram Channel:* https://t.me/praveengst

 🦚 Namaskar! *GST Updates 09.02.2021* Over Rs 2.06 lakh crore GST compensation to states due for Apr-Nov GST Burden: Traders Body CAIT Calls for Bharat Bandh. On 26th February; Transport Welfare Association to Resort to Chakka Jam in Support. GST needs fundamental restructuring, says Finance Commission Chairman. 18% GST on Forward Charge basis for providing Manpower Services to Kuvempu University: AAR Karnataka. Regards *CA. Praveen Sharma* +91 9871530610 Save my Mob. No. for more GST updates. *Join our Telegram Channel:* https://t.me/praveengst

  Noting that " the facts of the case are very gross and shocking ", the   Gujarat High Court on Friday (05th February)   pulled up the GST officials   for allegedly "coercing and pressurizing" a person to transfer an amount of almost  Rs.9 Crore  to the account of the department . The Bench of  Justice J. B. Pardiwala and Justice Ilesh J. Vora  called the alleged coercive recovery tactics as "Shocking" while hearing the plea of one Kanubhai Manilal (Proprietor, Bharat Acid And Chemicals) who alleged before the Court that he was summoned and under the guise of interrogation, he was kept under detention for almost a period of 33 hours.

 🦚 Namaskar! *GST Updates 08.02.2021* No Wonder Gujarat Tops The List Of States With Highest GST Collection": Gujarat HC Pulls Up GST Dept. For Their Alleged Coercive Recovery Tactics, Issues Notice. Masala Bonds: Financing state expenditure in post-GST era. तीन साल में 100 गुना बढ़ गया GST में फर्जीवाड़ा, फर्जी क्लेम भी बढ़े: अब सरकार जीएसटी धोखाधड़ी करने वालों पर शिकंजा कसने के लिए इनकम टैक्‍स डिपार्टमेंट (Income Tax Department) की मदद भी ले रही है. Working on structural changes in GST, says Finance Secretary Ajay Bhushan Pandey. ₹427-crore bogus GST billing racket busted in Ludhiana, two held. Regards *CA. Praveen Sharma* +91 9871530610 Save my Mob. No. for more GST updates. *Join our Telegram Channel:* https://t.me/praveengst

🦚 Namaskar! *GST Updates 07.02.2021* 18% GST applicable on Support Services for Research on Prevention of Epilepsy: AAR HC NOTICE TO DGGI AFTER GST OFFICIALS COERCE MAN INTO PAYING RS 9 CR TAX. No GST on Medical Services and part-time practising in Clinic: AAR GST can be levied on Notional Interest on Security Deposit: AAR Regards *CA. Praveen Sharma* +91 9871530610 Save my Mob. No. for more GST updates. *Join our Telegram Channel:* https://t.me/praveengst

 🦚 Namaskar! *GST Updates 06.02.2021* HC NOTICE TO DGGI AFTER GST OFFICIALS COERCE MAN INTO PAYING RS 9 CR TAX. GST fraud: CA held for collecting ₹12.67 cr but not depositing with govt. Budget 2021: FM does away with the need for GST Audit for a section of taxpayers. NO BAIL FOR CEO HELD IN RS 45CR GST FRAUD. 15th FC report: Annual GST losses hit Rs 4 trillion on lower rates Regards *CA. Praveen Sharma* +91 9871530610 Save my Mob. No. for more GST updates. Join our Telegram Channel: https://t.me/praveengst Today Webinar:  3.30 pm: Weekly QnA https://youtu.be/bJW6NxhkVdU 5 pm: GST 2021 after Budget 2021 https://youtu.be/cJOUaEX9MwU

Direct tax proposals highlights 1.      Relief to senior citizen: for 75 years and above: Having only pension and interest income: exemption from filing ITR: Paying banks will do TDS 2.      Reassessment: from 6 years to 3 years Serious tax evasion cases: where evasion evidence is Rs.50lac or more then reopening within 10 years- 3.      Dispute resolution committee: it will be faceless:  anyone with total income less than 50 lacs and disputed income less than 10 Lacs can approach this committee 4.      Faceless ITAT: faceless ITAT centre will be set where personal hearings will be conducted through VC 5.      Tax Audits: digital transactions from 5 cr to 10 cr 6.      Advance tax liability on dividend will arise only after declaration of dividend 7.      Affordable housing 1.5 lac deduction will now be even available for loan taken till 31.3.2022 8.      80IBA: ex...

 New Option for payment under QRMP Scheme is now enabled on GST Portal: GSTN