Gst Network
Recent Highlights
All Stories for Gst Network
Businesses with turnover over Rs 2 cr can now start filing GST audit reports for FY18
•Businesses with an annual turnover of over Rs 2 crore can now start filing GST audit reports for fiscal 2017-18 as GST Network (GSTN) has made its format available on its portal
GST Network develops system to fetch e-way bill data into monthly sales returns to curb tax evasion
•Matching of invoices of e-way bills with the sales shown in GSTR-1 will help taxmen in assessing whether the supplies have been accurately shown in sales return
Cabinet clears proposal to convert GST Network into government-owned company
•Arun Jaitley said that 50 percent stake will be owned by the Centre and the remaining by the states on pro-rata basis in the new structure.
Union Cabinet likely to consider proposal to convert GST Network into government-owned company today
•Currently, the Centre and states together hold 49 percent stake in GST Network, the company that provides IT backbone to the new indirect tax regime
GST rate cut on 50 items: TV, refrigerator, washing machines to get cheaper; return filing simplified
Fp Staff •The changes would come into effect across the country from 27 July onward, Finance Minister Piyush Goyal told media after the 28th meeting of the GST Council.
Govt to ask MSMEs under GSTN to obtain Udyog Aadhaar to avail benefits of various schemes
•The finance ministry is likely to send an email to the micro, small and medium enterprises soon, detailing the services that can be obtained using Udyog Aadhaar.
GST Council to discuss annual return forms on 21 July; experts expect reconciliation with IT returns
•The revenue officers have prepared a draft of the annual returns form, which will be deliberated by the GST Council chaired by Union finance minister
GST evasion: Traders deploy horse-carts to transport produce across states to skirt e-way bill system
Fp Staff •According to GST rules, e-way bills are applicable only for motorised vehicles and hence traders are moving produce via horse-carts.
GST mop-up: Govt now suspects under-reporting of Rs 34,000 crore for July-December 2017
Fp Staff •A preliminary analysis of GST returns filed between July and December 2017 shows that the scale of under-reporting could be as high as Rs 34,000 crore.
Prime Minister's Office sets meet with top finance, commerce officials to discuss GST refunds
•The Prime Minister's Office has called a meeting of top officials of commerce and finance ministries on Monday to discuss the issue of GST refunds