Author: admin_gst

All States except Jharkhand choose Option-1 to meet the GST implementation shortfall
GST
Dated:- 3-12-2020

All States except Jharkhand choose Option-1 to meet the GST implementation shortfall
Chhattisgarh has become the latest State to go for Option-1
Chhattisgarh will get ₹ 3,109 crores through special borrowing window to meet the GST implementation shortfall
Permission to raise additional ₹ 1,792 crore through borrowings also issued to Chhattisgarh
Government of Chhattisgarh has communicated its acceptance of Option-1 to meet the revenue shortfall arising out of GST implementation. The number of States who have favoured Option-1 has gone up to 27. All States except Jharkhand and all the 3 Union Territories wi

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eceive funds raised through this window starting from the next round of borrowing.
Under the terms of Option-1, besides getting the facility of a special window for borrowings to meet the shortfall arising out of GST implementation, the States are also entitled to get unconditional permission to borrow the final instalment of 0.50% of Gross State Domestic Product (GSDP) out of the 2% additional borrowings permitted by the Government of India, under Atmanirbhar Abhiyaan on 17th May, 2020. This is over and above the Special Window of ₹ 1.1 lakh crore. On receipt of the choice of Option-1, the Government of India has granted additional borrowing permission of ₹ 1,792 crore to the State Government of Chhattisgarh (0.50 % of Chhatti

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4293
1514.40
9
Himachal Pradesh
877
597.47
10
Karnataka
9018
4317.39
11
Kerala
4,522
328.20
12
Madhya Pradesh
4746
1580.51
13
Maharashtra
15394
4167.99
14
Manipur*
151
0.00
15
Meghalaya
194
38.89
16
Mizoram*
132
0.00
17
Nagaland*
157
0.00
18
Odisha
2858
1329.97
19
Punjab
3033
475.80
20
Rajasthan
5462
907.12
21
Sikkim*
156
0.00
22
Tamil Nadu
9627
2171.90
23
Telangana
5017
299.88
24
Tripura
297
78.90
25
Uttar Pradesh
9703
2090.21
26
Uttarakhand
1405
806.10
27
West Bengal
6787
252.22
Total (A):
105065
26966.76
1
Delhi
Not applicable
2040.77
2
Jammu & Kashmir
Not applicable
790.53
3
Puducherry
Not applicable
201.94
Total (B):
Not applicable
3033.24

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Update on auto-population of e-invoice details into GSTR-1
GST
Dated:- 1-12-2020

1. Certain notified taxpayers have been preparing and issuing invoices by obtaining Invoice Reference Number (IRN) from Invoice Registration Portal (IRP) (commonly referred as 'e-invoices'). Details from such e-invoices are be auto-populated in respective tables of GSTR-1.
An update on the status of such auto-population was earlier published on 13/11/2020.
2. Due to some unanticipated issues, there has been delay in auto-population of e-invoice details into GSTR-1.
Hence, such taxpayers who had reported e-invoices should not wait for auto-populated data and they are advised to proceed with preparation and filing of GSTR-1 for the months of N

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6. It may also be noted that the auto-population of details from e-invoices into GSTR-1 is only a facility for the taxpayers. After viewing the auto-populated data, the taxpayer shall verify the propriety and accuracy of the amounts and other data in each field, especially from the perspective of GSTR-1 and file the same, in the light of relevant legal provisions.
7. Once the auto-population into GSTR-1 gets started, the taxpayers are requested to verify the documents present in the excel and may share feedback on GST Self Service Portal, on below aspects:
* All documents reported to IRP are present in excel
* Status of each e-invoice/IRN is correct
* All the details of document are populated correctly
News – Press release – PIB

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1,04,963 crore of gross GST Revenue collected in the month of November 2020
GST
Dated:- 1-12-2020

The gross GST revenue collected in the month of November, 2020 is ₹ 1,04,963 crore of which CGST is ₹ 19,189 crore, SGST is ₹ 25,540 crore, IGST is ₹ 51,992 crore (including ₹ 22,078 crore collected on import of goods) and Cess is ₹ 8,242crore (including ₹ 809 crore collected on import of goods). The total number of GSTR-3B Returns filed for the month of November up to 30th November 2020 is 82 lakhs.
The government has settled ₹ 22,293 crore to CGST and ₹ 16,286 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governme

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State-wise growth of GST Revenues during Nov 2020
State
Nov-19
Nov-20
Growth
Jammu and Kashmir
363
360
-1%
Himachal Pradesh
701
758
8%
Punjab
1,375
1,396
2%
Chandigarh
165
141
-14%
Uttarakhand
1,280
1,286
0%
Haryana
5,904
5,928
0%
Delhi
3,995
3,413
-15%
Rajasthan
3,071
3,130
2%
Uttar Pradesh
5,678
5,528
-3%
Bihar
1,107
970
-12%
Sikkim
157
223
42%
Arunachal Pradesh
36
60
68%
Nagaland
23
30
31%
Manipur
35
32
-9%
Mizoram
17
17
0%
Tripura
51
58
13%
Meghalaya
117
120
2%
Assam
958
946
-1%
West Bengal
3,460
3,747
8%
Jharkhand
1,720
1,907
11%
Odisha
2,347
2,528
8%
Chhattisgarh
2,176
2,181
0%
Madhya Pradesh
2,453
2,493
2%
Gujarat
6,805
7,566
11%
Dama

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Punjab chooses Option-1 to meet the GST implementation shortfall
GST
Dated:- 30-11-2020

Punjab chooses Option-1 to meet the GST implementation shortfall
26 States and all Union Territories with Legislative Assembly have favoured Option-1
Punjab will get ₹ 8,359 Crores through special borrowing window to meet the GST implementation shortfall
Permission to raise additional ₹ 3,033 Crores through borrowings also issued to Punjab
Governments of Punjab has communicated acceptance of Option-1 to meet the revenue shortfall arising out of GST implementation. The number of States who have chosen this option has gone up to 26. All the 3 Union Territories with Legislative Assembly (i.e. Delhi, Jammu & Kashmir and Puducher

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tting the facility of a special window for borrowings to meet the shortfall arising out of GST implementation, the States are also entitled to get unconditional permission to borrow the final instalment of 0.50% of Gross State Domestic Product (GSDP) out of the 2% additional borrowings permitted by the Government of India, under Atmnirbhar Abhiyaan on 17th May, 2020. This is over and above the Special Window of ₹ 1.1 lakh crores. On receipt of the choice of Option-1 from the Government of Punjab, the Government of India has granted additional borrowing permission of ₹ 3,033 crores to the State Government of Punjab(0.5% of Punjab's GSDP).
The amount of additional borrowing permission granted to 26 States and the amount of funds

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1321.98
12
Maharashtra
15394
3486.24
13
Manipur*
151
0.00
14
Meghalaya
194
32.51
15
Mizoram*
132
0.00
16
Nagaland*
157
0.00
17
Odisha
2858
1112.42
18
Punjab #
3033
0.00
19
Rajasthan
5462
645.06
20
Sikkim*
156
0.00
21
Tamil Nadu
9627
1816.66
22
Telangana
5017
164.41
23
Tripura
297
66.04
24
Uttar Pradesh
9703
1748.29
25
Uttarakhand
1405
674.27
26
West Bengal #
6787
0.00
Total (A):
103273
21472.16
1
Delhi
Not applicable
1706.93
2
Jammu & Kashmir
Not applicable
661.21
3
Puducherry
Not applicable
159.70
Total (B):
Not applicable
2527.84
Grand Total (A+B)
103273
24000.00
* These States have 'NIL' GST compensation gap
# Funds will be released starting after next ro

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Online filing of application (Form GST EWB 05) by the taxpayer for un-blocking of E-Way Bill (EWB) generation facility
GST
Dated:- 28-11-2020

1. In terms of Rule 138E (a) and (b) of the CGST Rules, 2017, the E-Way Bill (EWB) generation facility of a taxpayer is to be blocked, in case the taxpayer fails to file their returns in Form GSTR-3B or Statement in Form CMP-08, for two or more consecutive tax periods. For unblocking of this facility, taxpayer need to apply to jurisdictional Tax Official in Form GST EWB 05.
2. A facility has now been provided to the taxpayers on the GST Portal, from 28th November, 2020 onwards, to file an application online for unblocking of their EWB generation facility (in Form EWB-05), in case their

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official. The tax official can issue a Notice for personal hearing to the taxpayer. Then the taxpayer can file their reply to the notice online, along with supporting documents.
5. At conclusion of the proceedings, the Tax Officer can issue an order (in Form EWB-06) approving the taxpayer application for unblocking the EWB generation facility. After which their EWB generation facility will be restored for the duration specified in the order.
6. If the Tax Officer rejects the taxpayer's application vide order in Form EWB-06, the EWB generation facility will remain blocked and the taxpayer shall be required to file their pending returns (in Form GSTR-3B / Statement in FORM CMP-08, so as to reduce the pendency to less than two tax periods),

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DGGI Gurugram arrests one for illegally manufacturing and supplying cigarettes and tax evasion
GST
Dated:- 28-11-2020

The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana has arrested one Sh. Satyender Sharma resident of Haryana on charges of manufacturing and supplying illegally manufactured cigarettes without the requisite tax paying documents and without payment of applicable GST and cess.
It became apparent from the investigation conducted till date, that Sh Sharma was engaged in the manufacture and supply of various cigarettes of different lengths. These include his registered brands 'Nidhi Black' 'Gold queen' and 'E-10.' Apart from these the investigation also revealed that Sh. Sharma wa

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Two more States – Kerala and West Bengal choose Option-1 to meet the GST implementation shortfall
GST
Dated:- 25-11-2020

Two more States – Kerala and West Bengal choose Option-1 to meet the GST implementation shortfall
25 States and all Union Territories with Legislative Assembly have favoured Option-I
Kerala and West Bengal will get ₹ 10,197 crore through special borrowing window to meet the GST implementation shortfall.
Permission to raise additional ₹ 11,309 crore through borrowings also issued to Kerala and West Bengal.
Governments of Kerala and West Bengal have communicated their acceptance of Option-1 to meet the revenue shortfall arising out of GST implementation. The number of States who have chosen thi

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engal will also receive funds raised through this window starting from the next round of borrowings.
Under the terms of Option-1, besides getting the facility of a special window for borrowings to meet the shortfall arising out of GST implementation, the States are also entitled to get unconditional permission to borrow the final instalment of 0.50% of Gross State Domestic Product (GSDP) out of the 2% additional borrowings permitted by the Government of India, under Atmnirbhar Abhiyaan on 17th May, 2020. This is over and above the Special Window of ₹ 1.1 lakh crore. On receipt of the choice of Option-1 from the Government of Kerala and West Bengal, the Government of India has granted additional borrowing permission of ₹ 4,522

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43
0.00
3
Assam
1869
289.54
4
Bihar
3231
1136.27
5
Goa
446
244.39
6
Gujarat
8704
2683.88
7
Haryana
4293
1266.68
8
Himachal Pradesh
877
499.74
9
Karnataka
9018
3611.17
10
Kerala #
4,522
0.00
11
Madhya Pradesh
4746
1321.98
12
Maharashtra
15394
3486.24
13
Manipur*
151
0.00
14
Meghalaya
194
32.51
15
Mizoram*
132
0.00
16
Nagaland*
157
0.00
17
Odisha
2858
1112.42
18
Rajasthan
5462
645.06
19
Sikkim*
156
0.00
20
Tamil Nadu
9627
1816.66
21
Telangana
5017
164.41
22
Tripura
297
66.04
23
Uttar Pradesh
9703
1748.29
24
Uttarakhand
1405
674.27
25
West Bengal #
6787
0.00
Total (A):
100240
21472.16
1
Delhi
Not applicable
1706.93
2
Jammu & Kashmir
Not ap

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One more arrested in Hisar for issuing fake invoices of ITC
GST
Dated:- 24-11-2020

In pursuance of ongoing investigation of fraudulent passing of Input Tax Credit (ITC) wherein one person namely Sh. Satender Kumar Singla of Hisar was arrested on 12.11.2020,the Directorate General of GST Intelligence (DGGI), Regional Unit, Rohtak falling under Gurugram Zonal Unit has arrested one more person namely, Sh. Vikas Jain, of Jind on 23.11.2020. Sh. Vikas Jain was the proprietor of one of the firms and as a proprietor of a firm was found involved in issuing fake invoices having taxable value of ₹ 27.99 Crore and was also found involved in handling cash of other such firms issuing fake invoices to pass ITC fraudulently. Sh. Vikas

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Gurugram DGGI arrests 2 for input tax credit fraud of 25 crore
GST
Dated:- 20-11-2020

The Gurugram Zonal Unit of Directorate General of GST Intelligence has arrested two persons namely Mr. Naresh Mittal and Mr. Chhedi Lal Mittal, both cousins and having their firms at Naya Bazar, Delhi – 06. Both are residents of Bahadurgarh, Haryana.
An investigation was already undergoing in respect of fake invoices received without goods by one firm (name withheld, hereinafter Firm X) situated in the area of Sadar Bazar, Delhi – 06 from 22 suspicious firms. Visits had been conducted at the registered addresses of these firms, which were not found in existence at the given addresses. In some cases, the firms were shown registered at vacant

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tails thereafter. Investigations were therefore, further carried on by checking bank payment details which unearthed that while in the narration of the transfer entry, vendor firms' names were appearing, but the crediting accounts were in the names of a different person/firm.
One such firm was M/s Prag Enterprises situated at Naya Bazar Delhi. Banking transactions revealed that this firm was receiving huge amounts through RTGS/ Online Transfer from M/s Super Tech, M/s TulsiyanImpex and other firms. Search conducted at the business premises at this firm revealed that another firm namely M/s P C Traders was also receiving huge money through RTGS/Online from these firms and some other firms. During interrogation, both the cousins accepted the

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Telangana decides to go for Option-1 to meet the GST implementation shortfall
GST
Dated:- 18-11-2020

Telangana decides to go for Option-1 to meet the GST implementation shortfall
State will get ₹ 2,380 crore through special borrowing window and also permission to raise additional ₹ 5,017crore through borrowings
The Government of Telangana has communicated its acceptance for Option-1 out of the two options suggested by the Ministry of Finance to meet the shortfall in revenue arising out of GST implementation. The State has now joined 22 other States and 3 Union Territories (Delhi, Jammu & Kashmir and Puducherry) who have opted for Option-1.
The States who choose Option-1 are getting the amount of shortfall arisi

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l permission to borrow the final instalment of 0.50% of Gross State Domestic Product (GSDP) out of the 2% additional borrowings permitted by the Government of India, under AtmnirbharAbhiyaan on 17th May, 2020. This is over and above the Special Window of ₹ 1.1 lakh crores. On receipt of the choice of Option-1from the Government of Telangana, the Government of India has today granted the State Government of Telangana additional borrowing permission of ₹ 5,017 crore (0.5% of Telangana's GSDP).
States who have opted for Option-1 are – Andhra Pradesh, Arunachal Pradesh, Assam, Bihar, Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Manipur, Meghalaya, Mizoram, Nagaland, Odisha, Rajasthan, Sikkim, Tel

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ihar
3231
866.51
5
Goa
446
186.36
6
Gujarat
8704
2046.80
7
Haryana
4293
966.04
8
Himachal Pradesh
877
381.13
9
Karnataka
9018
2754.08
10
Madhya Pradesh
4746
1008.21
11
Maharashtra
15394
2658.85
12
Manipur*
151
0.00
13
Meghalaya
194
24.77
14
Mizoram*
132
0.00
15
Nagaland*
157
0.00
16
Odisha
2858
848.39
17
Rajasthan
5462
327.01
18
Sikkim*
156
0.00
19
Tamil Nadu
9627
1385.52
20
Telangana#
5017
0.00
21
Tripura
297
50.43
22
Uttar Pradesh
9703
1333.32
23
Uttarakhand
1405
514.28
Total:
88931
16085.53
1
Delhi
0.00
1301.77
2
Jammu & Kashmir
0.00
504.26
3
Puducherry
0.00
108.44
Total:
0.00
1914.47
Grand Total
88931
18000.00
* These States have 'NIL' G

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One held for fraudulently passing Input Tax Credit of 13.08 crore by DGGI Rohtak
GST
Dated:- 17-11-2020

The Directorate General of GST Intelligence (DGGI), Rohtak Regional Unit, (under Gurugram Zonal Unit) has arrested one person namely, Sh. Satinder Kumar Singla, of Hisar who was found involved in issuing fake invoices from various firms without actual movement of goods having taxable value of ₹ 75 crore (approx.) and fraudulently passing ITC amounting to ₹ 13.08 crore

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Firm busted for availing benefit from bogus invoices of around 685 crore
GST
Dated:- 12-11-2020

On the basis of specific intelligence as well as further data mining/analysis on GSTN and E way bill portals, the officers of CGST Delhi South Commissionerate, have busted a syndicate of firms involved in availing invoices/E-way bills issued on the GSTIN of fake/dummy firms and getting Refund of IGST on the strength of such fake Invoices.
A case was booked against M/s. Baan Ganga Impex having their Principal Place of Business at L-10A, Ganga Tower, Mahipalpur, New Delhi-110037 (GSTIN 07AAMFB0425A1Z4).
From preliminary scrutiny of the seized documents, the data/information available on E-way Portal/GSTN portal, it is found that M/s

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Rajasthan decides to go for Option-1 to meet the GST implementation shortfall
GST
Dated:- 5-11-2020

Rajasthan decides to go for Option-1 to meet the GST implementation shortfall
State will get ₹ 4,604 Crores through special borrowing window and also permission to raise additional ₹ 5,462 Crores through borrowings
The Government of Rajasthan has communicated its acceptance for Option-1 out of the two options suggested by the Ministry of Finance to meet the shortfall in revenue arising out of GST implementation. The State has now joined 21 other States and 3 Union Territories (Delhi, Jammu & Kashmir and Puducherry) who have opted for Option-1.
The States who choose Option-1 are getting the amount of shortfall ari

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ow the final instalment of 0.50% of Gross State Domestic Product (GSDP) out of the 2% additional borrowings permitted by the Government of India, under Atmnirbhar Abhiyaan on 17th May, 2020. This is over and above the Special Window of ₹ 1.1 lakh crores. On receipt of the choice of Option-1from the Government of Rajasthan, the Government of India has today granted the State Government of Rajasthan additional borrowing permission of ₹ 5,462 crores (0.5% of Rajasthan's GSDP).
States who have opted for Option-1 are – Andhra Pradesh, Arunachal Pradesh, Assam, Bihar, Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Manipur, Meghalaya, Mizoram, Nagaland, Odisha, Rajasthan, Sikkim, Tripura, Tamil Nadu,

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Central Government releases 6,000 crore as second tranche to 16 states and 3 Union Territories on account of GST compensation under Special Borrowing Window
GST
Dated:- 2-11-2020

Central Government releases ₹ 6,000 crore as second tranche to 16 states and 3 Union Territories on account of GST compensation under Special Borrowing Window
Ministry of Finance has facilitated loans of ₹ 12,000 crore till date under the Special Window to States/UTs
The Ministry of Finance, Government of India, under its “Special Window to States for meeting the GST Compensation Cess shortfall,” will be releasing an amount of ₹ 6000 crore as second tranche to 16 States and 3 Union Territories today. This amount was raised at a wei

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1,05,155 crore of gross GST revenue collected in the month of October 2020
GST
Dated:- 2-11-2020

The gross GST revenue collected in the month of October, 2020 is ₹ 1,05,155 crore of which CGST is ₹ 19,193 crore, SGST is ₹ 25,411 crore, IGST is ₹ 52,540 crore (including ₹ 23375 crore collected on import of goods) and Cess is ₹ 8,011crore (including ₹ 932 crore collected on import of goods). The total number of GSTR-3B Returns filed for the month of October upto 31st October, 2020 is 80 lakh.
The government has settled ₹ 25,091 crore to CGST and ₹ 19,427 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments af

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ows the state-wise figures of GST collected in each State during the month of October, 2020 as compared to October, 2019 and for the full year.
Table: State-wise GST collection for April 2020
State
Oct-19
Oct-20
Growth
Jammu and Kashmir
313
377
21%
Himachal Pradesh
669
691
3%
Punjab
1,189
1,376
16%
Chandigarh
157
152
-3%
Uttarakhand
1,153
1,272
10%
Haryana
4,578
5,433
19%
Delhi
3,484
3,211
-8%
Rajasthan
2,425
2,966
22%
Uttar Pradesh
5,103
5,471
7%
Bihar
940
1,010
7%
Sikkim
186
177
-5%
Arunachal Pradesh
41
98
138%
Nagaland
25
30
20%
Manipur
43
43
0%
Mizoram
18
32
72%
Tripura
54
57
5%
Meghalaya
113
117
4%
Assam
888
1,017
14%
West Bengal
3,263
3,738
15%
Jharkhand

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DGGI Gurugram arrests man for forging input tax credit of around 392 crore
GST
Dated:- 30-10-2020

The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana has arrested one Kabir Kumar, resident of New Delhi on charges of creating and operating fictitious firms on forged documents and passing fake input tax credit by way of issuance of invoices without any actual receipt or supply of goods or services.
It is apparent from the investigation conducted till date, that Kabir Kumar created multiple proprietary companies merely on paper based in Gurgaon, New Delhi, Faridabad, Solan, Noida, Jhajjhar, Sirsa etc. During the investigation of his premises, it was revealed that Kabir had also attempted to flee

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CGST officials bust racket for generating fraudulent input tax credit through fake billing of around 1,278 crore
GST
Dated:- 30-10-2020

Based upon specific intelligence, the officers of the Anti Evasion branch of Central Goods and Service Tax (CGST),Commissionerate, Delhi (East) have busted a major racket for generation of huge inadmissible input tax credit (ITC) through fake billing of ₹ 1,278 crore (approx). The well established syndicate was being operated by floating seven different fake firms with the intent of passing of inadmissible credit to the tune of ₹ 137 crores (approx). Searches were conducted over more than nine places spread over different locations in the state of Delhi and Haryana to identify the

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to record the statement, wherein he admitted his guilt and was arrested subsequently.
The primary beneficiary firm of this bogus billing network, was M/s Maya Impex, which has been registered in the name of Shri Ashish Aggarwal's 66 years old mother through which fake ITC of ₹ 77 crore has been passed on. Shri Ashish Aggarwal knowingly committed offences under Section 132(1)(b) and 132(1)(c) of the CGST Act, 2017 which are cognizable and non-bailable offences as per the provisions of Section 132(5) and punishable under clause (i) of the sub section (1) of Section 132 of the Act ibid. The fake billing operation was primarily engaged in generating and passing of fake ITC primarily to the milk products industry. Bogus invoices were rai

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Govt support in GST cut to aid entire PV industry: Tata Motors
GST
Dated:- 26-10-2020

New Delhi, Oct 26 (PTI) Any kind of support from the government in terms of GST reduction would help the passenger vehicle segment immensely as it would negate some of the price increase in vehicle prices due to the shift to stricter BS-VI emission norms, according to a top Tata Motors executive.
In an interview with PTI, Tata Motors President, Passenger Vehicles Business Unit, Shailesh Chandra said the reduction in vehicle prices would even help end customers who have been facing various pressures owing to the current state of the economy.
"Due to this transition from BS IV to BS VI, there has been a significant escalation in cost. In

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₹ 30,000 crore for the same.
Chandra said there has been a significant escalation in cost due to the transition from BS IV to BS VI emission regime.
It (reduced GST) will help consumers who are going through low buying sentiments because of uncertain and precarious outlook for the economy and their source of income. So definitely it will be helpful to boost the volumes for the passenger vehicle industry," he said. Currently, automobiles attract GST of 28 per cent with additional cess ranging from 1 per cent to 22 per cent.
When asked about the electric vehicle segment, Chandra said the government has done its part and it was now up to the ecosystem players to participate in the process.
As far as the government is concerned,

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per cent segment would bring more visibility to the electric segment in the country, he added.
Demand can be triggered through personal segment. Keeping that in mind if FAME incentives are also provided to personal segment electric cars which meet the criteria of price, localisation, range it will just accelerate the process of electrification in the country, Chandra noted.
Tata Motors currently sells Nexon EV and two trims of Tigor with different range outputs. During the July-September quarter, the company has sold over 900 electric vehicle units. Since January, over 1,500 units of the Nexon EV have been sold.
We believe in the future of electric mobility. We already have two versions of Tigor, we have Nexon EV, and we have announced

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Extension of due dates for Annual Return and Reconciliation Statement for 2018-19
GST
Dated:- 26-10-2020

The Government has been receiving a number of representations regarding need to extend due date for filing Annual Return (FORM GSTR-9) and Reconciliation Statement (FORM GSTR-9C) for 2018-19 on the grounds that on account of the COVID-19 pandemic related lockdown and restrictions, normal operation of businesses have still not been possible in several parts of the country. It has

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Central Government borrows and transfers 6,000 crore as first tranche to 16 States on account of GST compensation under Special Borrowing Window
GST
Dated:- 23-10-2020

The Government of India has evolved a special borrowing window to addressthe shortfall in the GST collection during the year 2020 – 2021. 21 States and 2 Union Territories opted for this special window involving back-to-back borrowing coordinated by the Ministry of Finance.
Out of these, five States did not have any

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Man arrested in Pune for GST fraud
GST
Dated:- 23-10-2020

Pune, Oct 22 (PTI) – The Pune unit of the Directorate General of GST Intelligence has arrested a person in a bogus Input Tax Credit (ITC) claim case for defrauding the government to the tune of ₹ 52.19 crore through various firms, officials said on Thursday.
The man, who is controller and operator of various bogus firms, allegedly availed, utilised and passed on fictitious Input Tax Credit (ITC) by issuing invoices wi

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Special Window to States for meeting the GST Compensation Cess shortfall
GST
Dated:- 15-10-2020

Under Option-I States were to be provided a Special Window of Borrowing of ₹1.1 lakh cr, and over and above that, an authorisation for additional Open Market Borrowings of 0.5% of their GSDP. The authorisation for increased OMBs of 0.5% of GSDP has been issued by Ministry of Finance on 13th October and are in relaxation of the reform conditions that were stipulated for eligibility. Additionally, under Option-I, the States are also eligible to carry forward their unutilised borrowing space to the next Financial Year.
Under the Special Window, the estimated shortfall of ₹1.1 lakh cr (assuming all States join) will be borr

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Tamil Nadu goes for Option-1, gets permission to borrow an additional amount of 9,627 crore
GST
Dated:- 14-10-2020

Tamil Nadu goes for Option-1, gets permission to borrow an additional amount of ₹ 9,627 crore
21 States now allowed to mobilize ₹ 78,452 crore in addition to ₹ 1.1 lakh crore to meet the shortfall arising out of GST implementation
The Department of Expenditure, Ministry of Finance, has today granted permission to Tamil Nadu to raise an additional amount of ₹ 9,627 crore through open market borrowings. The permission was issued after the State formally communicated its acceptance for Option-1 to meet the shortfall arising out of GST implementation. 21 States and 2 Union Territories, Delhi

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to those States who have opted for Option-1 out of the two options suggested by the Ministry of Finance. Under the terms of Option-1, besides getting the facility of a special window for borrowings to meet the shortfall arising out of GST implementation, States are also entitled to get unconditional permission to borrow the final instalment of 0.50% of GSDP out of the 2% additional borrowings permitted by the Government of India, under Atmanirbhar Abhiyaan on 17th May, 2020. This is over and above the Special Window of ₹ 1.1 lakh crore.
Twenty States who were granted the permission yesterday were – Andhra Pradesh, Arunachal Pradesh, Assam, Bihar, Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Manipu

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Twenty States allowed to mobilize 68,825 crore
GST
Dated:- 13-10-2020

The Department of Expenditure, Ministry of Finance, has today granted permission to 20 States to raise an additional amount of ₹ 68,825 crore through open market borrowings.
Additional borrowing permission has been granted @ 0.50 % of the Gross State Domestic Product (GSDP) to those States who have opted for Option- 1 out of the two options suggested by the Ministry of Finance to meet the shortfall arising out of GST implementation.
In the meeting of GST Council held on 27th August, 2020, these two options were put forward and were subsequently communicated to the States on 29th August, 2020. Twenty States have given their preferences for Option-1. T

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of India in view of the COVID pandemic, waiving the reforms condition.
The Department of Expenditure, on 17th May 2020, had provided additional borrowing limit of upto 2% of GSDP to the States. The final instalment of 0.5% out of this 2% limit was linked to carrying out at least three out of four reforms stipulated by the Government of India. However, in case of States who have exercised Option-1, to meet the shortfall arising out of GST implementation, the condition of carrying out the reforms to avail the final instalment of 0.5% of GSDP has been waived. Thus, the 20 States, who have exercised Option-1, have become eligible to raise an amount of ₹ 68,825 crore through open market borrowings. Action on the special borrowing window

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42nd GST Council meeting as on 13-10-2020 (Continuation of 05.10.2020 meeting)
GST
Dated:- 13-10-2020

The GST Council failed to reach a consensus over the issue of how states will be co

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