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GST: CBIC extends GSTR-9 and GSTR-9C filing dates in a staggered manner

February 3, 2020 admin Comments 0 Comment

The Central Board of Indirect Taxes and Customs (CBIC) late on Friday night extended the due date for furnishing GST Annual Return and Reconciliation Statement (GSTR-9 / 9A and GSTR-9C) for FY 2017-18 in a staggered manner. The last date to file the Returns was January 31, 2020.

This came after thousands of taxpayers took to social media complaining about the GST portal not working. “Considering the difficulties being faced by taxpayers in filing GSTR-9 and GSTR-9C for FY 2017-18 it has been decided to extend the due dates in a staggered manner for different groups of States to 3rd, 5th and 7th February 2020 as under,” CBIC said in a Tweet.

Accordingly under Group 1, the states of Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Puducherry, Telangana, Andhra Pradesh, Other Territory has been placed and they will need to file their returns by 3rd February 2020.

Group 2 includes Jammu and Kashmir, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan and Gujarat that have to file by 5th February 2020.

Lastly group 3 includes the states of Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Andaman & Nicobar Islands, Jharkhand, Odisha, Chhattisgarh, Dadra and Nagar Haveli and Daman and Diu, Lakshadweep, Madhya Pradesh, and Uttar Pradesh, which now have to file by 7th February 2020.

On a day when the Economic Survey acknowledged the fact that both GST system is complex, taxpayers found it impossible to file their returns. By evening of January 31, #gstnfailed was the top trend on Twitter. At 10 30 pm CBIC tweeted the extension dates, but early reports suggest the portal is still not working.

The due date for the states in Group 1 ends today (February 3), but it is unclear if any notifications regarding the extension of date has been generated. Moreover, GSTN portal was not working for most of February 1, with the site showing it was under schedule maintenance. Taxpayers are now hoping for a further extension of the deadline.

Under GST, annual return is to be furnished in GSTR-9. In addition, as per Section 35 of CGST Act, 2017, every tax payer whose turnover exceeds Rs 2 crore during a financial year, is required to submit audited annual accounts and a reconciliation statement in GSTR-9C. The late fee for not filing the GSTR 9 within the due date is Rs 200 per day.

Source: Economic-Times

Gig economy workers may soon have to register under GSTN

January 24, 2020 admin Comments 0 Comment

The government is looking to get services professionals such as plumbers, electricians and beauticians listed on online platforms onto the Goods and Services Tax Network, in what could be yet another move to bring gig economy workers into the fold of the formal workforce.

The Department for Promotion of Industry and Internal Trade ( DPIIT) is considering making it mandatory for online marketplaces such as UrbanClap, HouseJoy and Bro4u to only engage service professionals who have a GST Number or GSTIN, senior government officials in the know of the matter told ET.

While the majority of plumbers, electricians, individual fitness trainers that make use of such online platforms will have a turnover of less than Rs 40 lakh annually, exempting them from paying GST, the government’s move to mandate GSTIN is more in line with having a database of such professionals. “Today, these professionals go into people’s houses and there’s absolutely no way for us to identify them,” said a senior government official.

“While they may not have to pay GST or make the quarterly filings, if they are registered on the network, we can trace them if there’s any untoward event,” said a government official who did not want to be named.

He added that companies such as UrbanClap may be asked to keep a log of all the jobs done by these services professionals, which were facilitated through their platform.

UrbanClap declined to comment as there was no formal communication from the government on the issue. Calls and messages to executives from Housejoy and Bro4u did not yield a response.

“There are several issues that we are examining like consumer safety and protecting the rights of these workers,” said another senior government official, who added that the DPIIT was currently evaluating the matter.

“Even today, there is voluntary GST registration, so it’s not something very big that we are asking them to do.”

Discussions to get services professionals listed onto the GSTN come ahead of the ecommerce policy, which is expected to come out before the close of the current fiscal.

Sources told ET that while the updated policy may dilute sections on data sharing, it could further define rules for online marketplace, inventory-led models and hybrid models.

The ministry of labour and employment is mulling bringing out regulations around the social security of gig economy workers. In its draft Code on Social Security, 2019, the ministry has proposed that all gig workers should be entitled to life and disability cover, health and maternity benefits, old age protection and other benefits

Source: Economic-Times

GST returns can now be filed in a staggered manner

January 23, 2020 admin Comments 0 Comment

In a moved aimed at de-stressing the GST system, the finance ministry on Wednesday staggered last dates of filling GSTR-3B, a monthly return form, and has provided three dates for different categories of taxpayers.

Currently, the last date for filing GSTR-3B is 20th of every month. With the changes, there will three dates — 20th, 22nd and 24th — of every month for different categories of tax payers.

In the past, glitches in the return filing system of GST Network were reported on the last day of filing of returns and trade and industry had to face problems.

It may be noted here that about one-fifth of the total GSTR-3B returns were filing on the last day (January 20).

“From now on, the last date for filing of GSTR-3B for the taxpayers having annual turnover of Rs 5 crore and above in the previous financial year would be 20th of the month. Thus, around 8 lakh regular taxpayers would have the last date of GSTR-3B filing as 20th of every month without late fees,” the ministry said in a statement.

The taxpayers having annual turnover below Rs 5 crore in previous financial year will be divided further in two categories.

The tax filers from 15 states/UTs — Chhattisgarh, Madhya Pradesh, Gujarat, Daman and Diu, Dadra and Nagar Haveli, Maharashtra, Karnataka, Goa, Lakshadweep, Kerala, Tamil Nadu, Puducherry, Andaman and Nicobar Islands, Telangana and Andhra Pradesh — will now be having the last date of filing GSTR-3B returns as 22nd of the month without late fees.

This category would have around 49 lakh GSTR-3B filers who would now have 22nd of every month as their last date for filing GSTR-3B returns.

For the remaining 46 lakh taxpayers from the 22 States/UTs of Jammu and Kashmir, Ladakh, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand and Odisha having annual turnover below Rs 5 crore in previous financial year the last date will be 24th.

The ministry further said it has also taken a note of difficulties and concerns expressed by the taxpayers regarding filing of GSTR-3B and other returns.

“The matter has been discussed by the GSTN with Infosys, the Managed Service Provider, which has come out with above solution to de-stress the process as a temporary but immediate measure,” it added.

For further improving the performance of GSTN filing portal on permanent basis, several technological measures are being worked out with Infosys and will be in place by April 2020.

A total of 65.65 lakh GSTR-3B forms for the tax month of December were filed by January 20.

Source: Economic-Times

66 lakh GST returns filed till January 20, says CBIC

January 22, 2020 admin Comments 0 Comment

The Central Board of Indirect Taxes & Customs (CBIC) said on Tuesday that a total of 65.65 lakh GSTR-3B returns were filed for the month of December (2019) till 20th January, 2020.

“A total of 65.65 lakh GSTR-3B for the tax month of December were filed till 20th January 2020 out of which 13.30 lakh GSTR-3B returns were filed on last day itself, i.e., on 20th January 2020,” CBIC said in a press release.

The agency added that a total of 24.66 lakh GSTR-3B returns were filed till January 14. It further stated that “further on 15th January 2.66 lakh, on 16th January 4.65 lakh and on 17th January 5.93 lakh GSTR-3B returns were filed. In the last three days 8.32 lakh, 6.09 lakh and 13.30 lakh GSTR-3B returns were filed on 18th, 19th and 20th January respectively.”

CBIC also said in its statement that more than 2 lakh GSTR-3B returns (for the tax month of December) were filed on January 21 (till 12 pm). Thus, the total GSTR-3B returns filed in the month of January totalled 67.70 lakh.

The agency acknowledged that the taxpayers in the past had received OTPs with some time lag owing to delay in the email service provider or local internet issues. However, in order to tackle this issue, CBIC said that the OTPs are being sent simultaneously on the taxpayers’ email ids as well as on their registered mobile numbers.

“In order to ensure that no inconvenience is faced by the taxpayer on this account, the OTPs are sent simultaneously on email as well as on registered mobile number so that in case there is a delay in receiving OTP on email, OTP received on mobile phone or vice versa can be used. The taxpayer can use OTP received on any channel for filing their returns,” the agency said in its statement.

Source: Business-Today.

Nirmala Sitharaman hints at status quo on GST rates

January 21, 2020 admin Comments 0 Comment

Union finance minister Nirmala Sitharaman on Sunday said she had sought an assessment of the full year collection of goods and services tax (GST) before rationalising rates, indicating that a proposal by a panel of officers to increase levies may wait until April.

The minister also advised against frequent change in rates, which had become the norm at every meeting of the GST Council, which is headed by the union finance minister, with states being members of the panel. The GST Council is the final decision-making body on rates and rules and has to meet at least once in three months.

There is a proposal for reworking the slab and increase rates on several items — ranging from branded food items to mobile phones and economy class air travel. But a decision was deferred as states wanted an assessment of the impact of the new indirect tax regime on various products. Besides, many states, including those ruled by BJP, were not in favour of increasing rates under various slabs.
At the Palkhiwala Centenary Celebration here, Sitharaman raised concerns over assessment of GST collections. “Ideally, everybody keeps telling that we must aim for one rate (GST), one tax, and one nation and so on. However, before we make such revisions, have we studied what the current rates have given us (collection) steadily for one full year?”

The minister indicated that there were suggestions for an annual revision. “We did consider if the revision of rates could be a yearly exercise, which will be done after due consideration. However, if the technical, law, and fitment committees come back saying that such reduction would lead to an inversion, then all of us must have the largeness of heart to say — sorry, this (rate revision) cannot happen.”

The FM raised complaints that every GST Council meeting, there is a big list of rate reduction on items, which even leads to discussions on changes in inverted duty structure.

‘Laws mustn’t look at biz with suspicion’

Sitharaman said the government is moving towards a direction where the law does not look at business enterprises with suspicion. She also said the industry and the government should work together to take the country’s economy to $5 trillion.

The FM said her earnest attempt is to decriminalise matters concerning the Companies Act or other related laws, and also cited Tata Group head N Chandrasekharan’s speech in Mumbai on Monday, where he had said the government should trust its own citizens.

Stressing further on the trust factor, Sitharaman said the government’s intention is not to distrust business houses and the road to $5-trillion economy will be much easier with mutual trust.

Source: Times-Of-India

Non-compliance in GST payments may be burning a Rs 5 tn hole in revenues

January 21, 2020 admin Comments 0 Comment

The government may be losing Rs 5 trillion in indirect tax revenue a year, amounting to 40% of its goods and services tax (GST) collection target, because of defaults and evasion, according to the Fifteenth Finance Commission’s (FFC), confirming policymakers’ fears that businesses are not paying their fair share of taxes.

In a recent presentation made to the GST Council, FFC has assessed that the revenue loss was equivalent to 2.4% of gross domestic product. This works out to Rs 5 trillion if one goes by the first advance estimate of nominal GDP for FY20 released earlier this month. This is as much as 40% of the GST revenue centre and states together may collect this year, going by the trend of an average Rs 1 trillion a month GST revenue in the first nine months of the current fiscal.
In the nine months to 31 December, central and state governments have collected more than Rs 9 trillion in GST and hope to collect an additional Rs 3.55 trillion by end of March.

FFC’s estimate of revenue loss from non-compliance is giving a strong backing to the tax administration’s bid to tighten enforcement at a time they are struggling to meet the revenue targets for the year. According to the FFC, India’s overall tax-to-GDP ratio is about 17.2%, which as per its calculations, should be about 22.6%.

There is a gap of about 5.4%, of which, GST compliance gap accounts for about 2.4% of the GDP, according to the FFC presentation, the highlights of which are now available in public domain from minutes of the meeting.

Source: Hindustan-Times

Courier companies seek relief on GST E-way bill rule

January 20, 2020 admin Comments 0 Comment

Courier companies such as FedEx, DHL and UPS are in a bind over delivering imported goods to customers because of a goods and services tax rule that bars defaulters from issuing e-waybills. The document is mandatory for transport of goods worth over Rs 50,000.

On the other hand, the customs department won’t hold such goods in its storage once they’re cleared. The companies, including local ones such as DTDC, Safe Express, Gati and Delhivery, have petitioned the government to seek a way out of the dilemma. The government said it’s examining the issue.

GST Rule 138E, which took effect in November, doesn’t allow an entity that hasn’t filed returns for two straight months to generate an e-waybill.

While the rule won’t impact direct deliveries to ecommerce customers, business-to-business (B2B) orders from overseas will likely get hit.

Import consignments of companies, which may have missed filing returns and are unable to generate an e-waybill, cannot be delivered. But the goods cannot be kept inside the customs premises once cleared.

“As per customs regulations, goods may not be retained in the customs premises post clearance,” Vijay Kumar, chief executive officer of the Express Industry Council of India lobby group. “But moving the goods outside the customs premises without e-waybill would result in noncompliance from a GST standpoint.”

Courier companies have no means of checking whether their customers are GST compliant. “The task itself would be monumental given the volume of transactions and number of clients,” Kumar said. “Tracking such compliances would lead to operational challenges… delay in delivery of goods and reduction in operational efficiency.”

Since courier companies get the goods cleared from customs on behalf of those that place the orders, under the end-to-end logistics model, they face the brunt of the rule, experts said.

“While GST was intended to simplify supply chains, logistics businesses have been facing a few challenges such as EWBs on import consignments, which need to be discussed, as this is a key ingredient in improving the ease of doing business,” said MS Mani, partner.

The government is examining the matter to see how it can be resolved, said a senior government official, adding, “States have some reservations on the issue.”

The official said one option would be for courier companies to seek a written undertaking from customers to the effect that they’re GST compliant. The issue will be taken up again with states, he said.

Source: Economic-Times

National Anti Profiteering Authority (NAA)

Anti-profiteering body steps up GST compliance drive

January 16, 2020 admin Comments 0 Comment

A wave of orders is expected from the National Anti-profiteering Authority (NAA) in the next three months, with the Centre stepping up a goods and services tax (GST) compliance drive.

About 40 orders are expected to be issued shortly on complaints against firms in the real estate, consumer goods, and cinema industries, said a person with direct knowledge of the matter, who requested anonymity.

The firms facing investigations include some the leading suppliers of ayurvedic products, electronics and television makers, luggage and travel accessories makers, two leading multiplex chains, and hygiene and home products firms, said a second person aware of the matter.

This comes amid concern among policymakers that businesses have pocketed part of the ₹1 trillion worth of GST rate cuts that were to benefit end-users and thus help stimulate demand in the economy.

In the past, about 60% of the cases investigated by the Directorate General of Anti-Profiteering (DGAP) have confirmed profiteering behaviour by businesses. The NAA has issued orders on more than 100 cases since it came into force in November 2017. Its orders have led to businesses depositing about ₹600 crore in profiteered amount to a consumer welfare fund managed by the consumer affairs ministry, said the first person mentioned above.

Authorities intend to take more measures to reach out to consumers and sensitise them about their rights and remedies. Towards this, the government has decided to direct erring companies to deposit the profiteered amounts in a separate fund to be used for GST-related purposes.

“While some of the large brands have started passing on the GST rate reduction benefits, several others, especially the mid-sized ones, have not revised maximum retail price downwards and, hence, only one in three consumers have validated the reduction in MRPs,” said Sachin Taparia, founder and chairman of LocalCircles, an online community of consumers. Their survey last month covering more than 14,000 citizens showed that a large section of customers believe they are not getting the benefits of the tax cuts that came into force on 1 January 2019.

Source: Live-Mint.

931 GST fraud cases identified through Data Analytics

January 14, 2020 admin Comments 0 Comment

Department of Revenue through data analysis has identified 931 cases of fraudulent GST.The maximum numbers of such cases for Input Tax Credit frauds have been booked in Kolkata zone followed by Delhi, Jaipur and Punchkula (Haryana).

Refunds of over Rs. 28,000 crore are said to have been filed by over 27,000 taxpayers so far on account of inverted duty structure in the current year. Finance Ministry sources confirmed that such identified taxpayers who have purchased goods from tax evading non-filers would face verification and scrutiny as necessary.

This is being weekly reviewed and monitored by the Union Revenue Secretary, Dr Ajay Bhushan Pandey.

GST formations have booked 6641 cases involving 7164 entities till November last year and have so far recovered around Rs.1057 crore.

Sources added that investigators in Delhi have busted through data analytics a significant fraud case, where fraudsters created a network of over 500 entities comprising of fake billers, intermediary dealers, distributors and bogus manufacturers of hawai chappals for availing and encashing fake ITC credits. The bogus “manufacturers” created in Uttarakhand were making supplies to other fictitious entities & retailers in Gujarat, Maharashtra and Tamil Nadu. The raw materials for the chappals, known as EVA compound, are chargeable to 18% duty whereas chappals are chargeable to GST of 5%. As a result, the law allows the manufacturers to claim refunds of the inverted duty structure in cash.

Another important case was that of IGST fraud from Surat in which preliminary investigations revealed that 19 firms fraudulently claimed ITC to the tune of 55 crore against the fake invoices received by these firms valued at Rs. 679 crore. In this case during the search at the premises of two kingpin firms M/s Satyam Impex and M/s Aatif Fashion, it was revealed that 17 other firms were registered with GST by misusing the identity/documents of daily wagers, casual workers, etc.

Data Analytics wing of GST has been able to identify all such cases involve fake invoicing and fraudulent tax credits, which have been encashed through the facility of IGST refunds.

Source: India-Today.

Banks, telcos, insurers may be exempted from GST e-invoices

January 13, 2020 admin Comments 0 Comment

Banks, airlines, insurance companies, armed forces and telecom service providers are likely to be exempted from mandatory issuing of e-invoices under goods and services tax (GST), said people aware of the matter. “Banks, airlines, telcos and other entities that have direct customer interaction on a large scale may be exempted from filing their e-invoices under GST,” said one of the persons, who did not wish to be identified.

Another person said the government would have to specify the exemptions through notification in the rules. Such a move is likely to benefit entities in the sectors that issue a number of invoices to customers directly or have direct debit and credit facilities such as in the case of banks, said experts. Banks and insurance companies are currently allowed consolidated invoices.

“These entities would have to undergo heavy compliance costs if the exemption was not allowed,” said Bipin Sapra,. From April 1, companies with an aggregate revenue of Rs 100 crore or more have been mandated to issue e-invoices, as the government embarks on digital filing of invoices under goods and services tax (GST) regime amid efforts to curb tax evasion and fraudulent claims of GST credits while increasing tax collection.

Source: Economic-Times

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GST: CBIC extends GSTR-9 and GSTR-9C filing dates in a staggered manner

February 3, 2020 admin Comments 0 Comment

XaTTaX is Best GST Software, Simplify your Financial matters with GST eFiling Software for Return Filing & GST Billing Software in India.

Gig economy workers may soon have to register under GSTN

January 24, 2020 admin Comments 0 Comment

XaTTaX is Best GST Software, Simplify your Financial matters with GST eFiling Software for Return Filing & GST Billing Software in India.

GST returns can now be filed in a staggered manner

January 23, 2020 admin Comments 0 Comment

XaTTaX is Best GST Software, Simplify your Financial matters with GST eFiling Software for Return Filing & GST Billing Software in India.

66 lakh GST returns filed till January 20, says CBIC

January 22, 2020 admin Comments 0 Comment

XaTTaX is Best GST Software, Simplify your Financial matters with GST eFiling Software for Return Filing & GST Billing Software in India.

Nirmala Sitharaman hints at status quo on GST rates

January 21, 2020 admin Comments 0 Comment

XaTTaX is Best GST Software, Simplify your Financial matters with GST eFiling Software for Return Filing & GST Billing Software in India.

Non-compliance in GST payments may be burning a Rs 5 tn hole in revenues

January 21, 2020 admin Comments 0 Comment

XaTTaX is Best GST Software, Simplify your Financial matters with GST eFiling Software for Return Filing & GST Billing Software in India.

Courier companies seek relief on GST E-way bill rule

January 20, 2020 admin Comments 0 Comment

Anti-profiteering body steps up GST compliance drive

January 16, 2020 admin Comments 0 Comment

XaTTaX is Best GST Software, Simplify your Financial matters with GST eFiling Software for Return Filing & GST Billing Software in India.

931 GST fraud cases identified through Data Analytics

January 14, 2020 admin Comments 0 Comment

XaTTaX is Best GST Software, Simplify your Financial matters with GST eFiling Software for Return Filing & GST Billing Software in India.

Banks, telcos, insurers may be exempted from GST e-invoices

January 13, 2020 admin Comments 0 Comment

XaTTaX is Best GST Software, Simplify your Financial matters with GST eFiling Software for Return Filing & GST Billing Software in India.