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This website contains information about recent changes mainly in GST laws. It also contains Articles on various topic in GST. Please visit the website and read.
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Hi Reader,
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Please find tax updates in Newsletter 19 dated 12.12.2021 as below:
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Index
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GST Refunds
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1) 09.12.2021 : Haryana : Special drive to dispose GST Refunds -
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A refund drive was conducted by the Excise and Taxation department Haryana from 08.11.2021 to 08.12.2021 to dispose / process all pending refund cases pending over 45 days time period by the field formations across the State of Haryana.
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In these 30 days, a total of 199 refund applications amounting to 107.88/- crore has been processed /disposed. In percentage terms 77.44% of total count of pendency and 80% of the amount involved in these refund cases have been disposed in this drive since 08.11.2021.
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It is reiterated that the Government of Haryana shall strive to continue its commitment towards its taxpayers and provide all refunds within the time period stipulated under the GST Act, 2017. Source : Press Release dated 09.12.2021.
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GST in Media
1) 09.12.2021 : GST Council to consider clarifying GST issue on ice cream parlour - Last Council meeting recommended 18% GST, companies seek clarity on date of imposition. The GST Council, expected to meet later this month, is likely to take up the issue related with levy mechanism on ice cream parlour. Ice cream companies have urged for clarification on the applicability of GST at the rate of 18 per cent on parlour. “The matter is expected to be placed before the GST Council. Read more
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2) 09.12.2021 : Punjab registers second highest GST collection since rollout of central tax regime - The Punjab government on Wednesday said the Goods and Services Tax (GST) cash collection in November 2021 grew by 32% to Rs.1,845 crore — the second highest since the central tax regime came into force. An official spokesperson said the collection is second only to that in April 2021, but also the growth rate experienced is third highest in the country across the major states after Odisha and Kerala. Read more
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3) 09.12.2021 : Fake invoice racket busted by anti-evasion wing of GST - The officers of the Anti-evasion wing of Vizag Central GST (Govt. of India) have busted a fake invoice racket involving a network of companies and arrested three persons including the mastermind Madan Mohan Reddy. Enquiries made and searches conducted on M/s. Krishna Sai Constructions Private Limited and M/s. Dew Drops Granite Private Limited revealed that fake ITC worth more than Rs.18 crore was transacted by created fictitious invoices without actual supply of goods or services. Read more
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4) 11.12.2021 : Room, shops provided on rent by religious institutions to attract GST: TAAR - Telangana Authority for Advance Ruling (TAAR) has held that a a charitable religious institution will be liable to pay GST (Goods & Services Tax) on renting of rooms to devotees and shops for religious programmers provided rent is more than Rs.1,000 a day and Rs.10,000 per month, respectively. Read more
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5) 11.12.2021 : CBIC has sanctioned IGST refund - As per the recent tweet of Ministry of Finance, the Central Board of Indirect Taxes & Customs (“the CBIC”) has sanctioned IGST refund of Rs. 27,778 crore during F.Y. 2020 – 21 via a special drive to enhance liquidity.
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Income Tax in Media
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Press Release
1) 10.12.2021 : Income Tax Department conducts search operations in West Bengal - The Income Tax Department initiated search operation in the case of two major manufacturers and suppliers of refined lead, lead alloys and lead oxides on 07.12.2021. The search operation covered 24 premises spread over in the states of West Bengal and Uttar Pradesh. The search operations have resulted in seizure of jewellery valued at Rs. 53 lakh while four bank lockers are yet to be operated. Read more
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2) 10.12.2021 : Income Tax Department conducts search operations in Gujarat - The Income Tax Department initiated search and seizure operation on 03.12.2021 on a prominent group of Surat, engaged in the business of construction of residential and commercial complexes, land transactions as well as real estate financing. The search action covered more than 40 premises spread over Surat and Mumbai. The search action has led to the seizure of unexplained cash of Rs. 4 crore and jewellery valued at Rs. 3 crore while more than a dozen bank lockers have been placed under restraint. The search action has led to the detection of estimated undisclosed receipts and suspicious nature of entries aggregating to more than Rs. 650 crore. Read more
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GST Article
1) GST – Validity of recovery without show cause notice or assessment – “I have a target, stupid!” (PART-1) written by, SHRI SHAILESH P. SHETH, ADVOCATE M/S. SPS LEGAL - Can the department recover the tax on any pretext without issue of the show cause notice? Is a taxpayer compulsorily liable to make the payment on receipt of the Statement in Form GST DRC-01A? Is a taxpayer obliged in law to honour the demand raised by the Audit Officers during the course of audit of the records of the taxpayer? Can the department force a taxpayer to make the payment of tax, etc. during enquiry or investigation? Read more
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2) GST Annual Return for F.Y.2020-21 : Due date is 31.12.2021 - The due date to file GST Annual Return for F.Y.2020-21 is 31.12.2021. The requirement of filing annual return is given u/s 44 of CGST Act, 2017 read with rule 80 of CGST Rules, 2017. The substituted rule 80 effective from 01.08.2021 provides for the filing of annual return and a reconciliation statement on a self-certified basis. Read more
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Hope the above updates is of use to you. Please share your feedback at [email protected]
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