Government extends deadline for filing April GSTR-3B by 2 days till May 22

Government extends deadline for filing April GSTR-3B by 2 days till May 22 The government has extended the due date for filing GST summary sales returns for April by two days till May 22. An official statement said that certain technical issues are being faced by the taxpayers during the filing of GSTR-3B for April. […]

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Banks under taxman scanner for GST refund on ATM transactions

Banks under taxman scanner for GST refund on ATM transactions The indirect tax department’s investigation arm is scrutinising the GST credit availed by banks on taxes paid by their ATM vendors and could soon ask banks to cut the credit availed by them, two people with direct knowledge of the matter said. The taxmen are […]

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Economy under recovery after dual shock of demonetisation and GST: Research

Economy under recovery after dual shock of demonetisation and GST: Research On the monetary side, areas of concern are rising bond yields which indicate potential slippages on the fiscal front The Indian economy is gradually coming out of the twin shock of demonetisation and GST which temporarily derailed growth, India Ratings said.The ratings agency, however, […]

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GSTN to rope in private entities for tax payer profiling, fraud analytics

GSTN to rope in private entities for tax payer profiling, fraud analytics GST Network has invited bids from private entities for “360-degree” profiling of taxpayers for early detection of fraud as it seeks to transform into an end-to-end platform for checking GST evasion, from being just a tax collection portal. The analytics company to be […]

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Taxpayers may have to explain discrepancies in I-T, GST returns

Taxpayers may have to explain discrepancies in I-T, GST returns Government moves to link databases to get all relevant details of a firm, use fraud analytics to look for evaders The annual return forms for goods and services tax (GST) may ask taxpayers to explain any discrepancies between their income tax and GST returns as […]

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GST Council to take a call on converting GSTN into a govt-owned company

GST Council to take a call on converting GSTN into a govt-owned company ‘Hiring and firing’ was faster since it was a private company says GSTN CEO Prakash Kumar Amid data security concerns, the GST Council will take a call on converting GST Network (GSTN), the IT backbone of the indirect tax system, into a […]

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