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ANTI EVASION MEASURE
B2B invoices will have to be generated on govt portal by September to check GST evasionThe e-invoice generation method will be similar to the one being followed for e-way bill on the 'ewaybill.nic.in' portal or payment of GST ...
Non-filers of GST returns for 2 months to be barred from generating e-way bills from June 21In the GST regime, businesses have to file monthly tax returns by the 20th day of the subsequent month.
GST officers seek clarification from companies for mismatch in sales returns, e-way bill dataThe government is banking on anti-evasion measures to meet its GST collection target for the current fiscal.
Revenue department to set up committee to deal with bogus e-way billsMany instances of bogus e-way bills and fake invoices have come to notice since April last year.
Soon, no e-way bill if GST returns not filed for 6 monthsBusinesses, who have not filed returns for two straight cycles, cannot now generate e-way bills.
GST collections cross Rs 1 lakh crore in OctoberThe finance ministry has targeted monthly GST collections to be Rs 1 lakh crore for this fiscal, but the actual mop-up has fallen short of ...
GST collections likely to top Rs 1 lakh crore in November, DecemberGST revenue rose to Rs 94,442 crore in September and officials feel it could surpass the landmark one lakh crore on increased demand during...
GST: Centre defers reverse charge mechanism till September 30The mechanism, an anti-tax-evasion measure to ensure transactions by unregistered people don’t escape tax, was to kick in from July 1 this ...
GST@Rs 1 lakh crore: No need to get over excited as financial years end with higher collections, says Vanaja Sarna, CBEC“The composition dealers have also paid the quarterly tax and that is also included in this amount.”
E-way bill mandatory for inter-state movement of goods from SundayThe GST Council, earlier this month, decided on a staggered rollout of the e-way bill starting with inter-state from April 1 and intra-stat...
GST anti-evasion: Cess likely on pan masala at manufacturing stageThe Council will look at levying the cess at the manufacturing stage based on production capacity as against the current practice of imposi...
Government banks on 2 tools to crack whip on GST evaders“We are slowly tightening the noose and these two steps alone will help us increase our collections by around 25%,” said a senior governmen...
Government approves amendment to tax treaty with TurkmenistanGovernment today approved amending the Double Taxation Avoidance Convention (DTAC) signed with Turkmenistan.
e-Trip system to be implemented in Punjab from SeptemberDespite stiff opposition from trade and industry, Punjab government is all set to implement anti-evasion measure 'e-Trip system' from Sept.
- Business volume under e-Trip system growing despite opposition
The anti-tax evasion e-Trip system had faced stiff opposition from the industry, who said this will lead to harassment for the trade and in...
- Drive against blackmoney, tax evasion is an ongoing process: Government
Government today said it is taking various measures, including use of IT, as part of its drive to check blackmoney and tax evasion.
- I-T now trains guns on FDs, plans despositor database
After annual information returns (AIR) to track high spenders, the finance ministry has firmed up rules for another anti-evasion measure ai...