Goods and Services Tax

Goods and Services Tax – GST Dated:- 10-1-2022 – News – As a facilitation measure for taxpayers for assisting the taxpayers in doing a correct self-assessment, a new functionality of interest calculator is being released in GSTR-3B . This functionality will arrive at the system computed interest on the basis of the tax liability values declared by the taxpayers. The interest appliable, if any, on the tax liability declared in the GSTR-3B of a particular tax-period will be computed after the filing of the said GSTR-3B . These system computed interest values will be auto-populated in the Table-5.1 of the GSTR-3B of the next tax-period. The facility would be similar to the collection of Late fees for GSTR-3B , filed after the Du

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Goods and Services Tax – GST Dated:- 7-1-2022 – News – Advisory on Revamped Search HSN Code Functionality The Search HSN functionality was earlier given as a measure of facilitation to the taxpayer to search the Technical Description of any particular HSN code of any goods and/or service used in the Trade, visvis HSN description in the Customs Tariff Act, 1975 . However, there are many instances of goods and services where descriptions commonly used in Trade in common parlance i.e. Trade description differ from the Technical descriptions otherwise provided in the HSN descriptions of the Customs Tariff Act, 1975 and the abovesaid functionality. Thus finding the corresponding HSN codes vis a vis a common description was a bit challenging for the taxpayer. ( Note: Technical descriptions imply those descriptions which pertain to each and every HSN Code while Trade descriptions imply those descriptions which are used in common parlance by the trade/ businesses for various goods

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N: a. Taxpayer can search for any HSN Code pertaining to any goods and/or services. b. Only numbers are allowed to be entered in the search box if search is based on HSN. c. On entering of HSN in search box, five nearest possible descriptions would be shown in the auto-suggested dropdown relating to the said HSN. d. The taxpayers can then select the suggestion that may be most relevant to their case. Note: i. It may be noted that the drop down will be shown only when minimum three characters are entered in the search box, and; ii. the maximum number of characters allowed in search box is eight. ii) Search of HSN on the basis of Trade/ Commercial/ Technical Description: a. Taxpayer can search by way of entering both technical and/or trade descriptions of the requisite goods or services in the search box. b. Once taxpayers select the Description option, they are then required to select whether they want to search for goods or services. c. On e

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the related 6-digit and 8-digit HSN code will also be shown under Other related HSN code(s) in the resultant table. Similarly, in case a 6-digit HSN code is searched, the related 8-digit HSN code will also be shown. However, in case an 8-digit HSN code is searched, related HSN will not be shown in table as 8-digit code in itself is the most accurate. The related HSN Codes displayed in the resultant table are hyperlinked and taxpayer can click on the same to view further details of the said HSN. 6. In case taxpayers are not able to find HSN of any goods or services, then they can raise a ticket on GST Self-Service Portal (https://selfservice.gstsystem.in). Further, taxpayers can also download the list of the entire list of HSN Codes along with their technical descriptions in excel format by clicking on link Download HSN in Excel Format available at bottom of page. Note: It may be noted that i) The revamped Search HSN tool algorithm is based on Artificial Intelli

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Goods and Services Tax – GST Dated:- 6-1-2022 – News – Various new functionalities are implemented on the GST Portal, from time to time, for GST stakeholders. These functionalities pertain to different modules such as Registration, Returns, Advance Ruling, Payment, Refund and other miscellaneous topics. Various webinars are also conducted as well informational videos prepared on these functionalities and posted on GSTNs dedicated YouTube channel for the benefit of the stakeholders. To view module wise functionalities deployed on the GST Portal and webinars conducted/ Videos posted on our YouTube channel, refer to table below: Sl.No Taxpayer functionalities deployed on the GST Portal during

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Goods and Services Tax – GST Dated:- 4-1-2022 – News – As per the GST Council decision to notify Restaurant Service under section 9(5) of the CGST Act, 2017 along with other services notified earlier such as motor cabs, accommodation and housekeeping services wherein the tax on such supplies would be paid by electronic commerce operator if such supplies made through it, Notification No. 17/2021-Central Tax (Rate) and 17/2021-Integrated Tax (Rate) dated 18.11.2021 have been issued. A

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Goods and Services Tax – GST Dated:- 3-1-2022 – News – As per Notification No. 35/2021 Central Tax dated 24th September 2021 , clause (a) of the sub-rule (6) of Rule 59 of CGST Rules, 2017 was amended. By way of this amendment, for the words for preceding two months , the words for the preceding month were substituted with effect from 1st January 2022. This means that from 1st January 2022 onwards, if a monthly filer has not filed the GSTR-3B for the preceding month, then such taxpayer will not be allowed to file the GSTR-1 for the subsequent month, till the GSTR-3B for the preceding month is filed. This functionality will be implemented on the GST Portal shortly, after which the system will check the filing of p

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Goods and Services Tax – GST Dated:- 1-1-2022 – News – The gross GST revenue collected in the month of December 2021 is ₹ 1,29,780 crore of which CGST is ₹ 22,578 crore , SGST is ₹ 28,658 crore , IGST is ₹ 69,155 crore (including ₹ 37,527 crore collected on import of goods) and cess is ₹ 9,389 crore (including ₹ 614 crore collected on import of goods). The government has settled ₹ 25,568 crore to CGST and ₹ 21,102 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States in the month of December 2021 after settlements is ₹ 48,146 crore for CGST and ₹ 49,760 crore for the SGST. The revenues for the month of December 2021 are 13% higher than the GST revenues in the same month last year and 26% higher than the GST revenues in December 2019. During the month, revenues from import of goods was 36% higher and the revenues from domestic transaction (including import of servic

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ositive trend in the revenues will continue in the last quarter as well. The chart below shows trends in monthly gross GST revenues during the current year. The table shows the state-wise figures of GST collected in each State during the month of December, 2021 as compared to December 2020 State-wise growth of GST Revenues during December 2021 [1] State Dec-20 Dec-21 Growth Jammu and Kashmir 318 320 0% Himachal Pradesh 670 662 -1% Punjab 1,353 1,573 16% Chandigarh 158 164 4% Uttarakhand 1,246 1,077 -14% Haryana 5,747

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40% Assam 984 1,015 3% West Bengal 4,114 3,707 -10% Jharkhand 2,150 2,206 3% Odisha 2,860 4,080 43% Chhattisgarh 2,349 2,582 10% Madhya Pradesh 2,615 2,533 -3% Gujarat 7,469 7,336 -2% Daman and Diu 4 2 -60% Dadra and Nagar Haveli 259 232 -10% Maharashtra 17,699 19,592 11% Karnataka

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Press conference by Union Finance Minister Nirmala Sitharaman – 46th GST Council meeting – Goods and Services Tax – GST Dated:- 31-12-2021 – News – 46 th GST Council meeting – Media Briefing

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Goods and Services Tax – GST Dated:- 31-12-2021 – News – New Delhi, Dec 31 (PTI) Heeding to demands made by several states, the GST Council on Friday put on hold a decision to hike the tax rate on textiles to 12 per cent from 5 per cent, Union Finance Minister Nirmala Sitharaman said. The panel, the highest decision-making body for indirect taxes, met under emergency provisions after states made a request for deferring the January 1 hike in GST tax rates on textiles. Sitharaman said a similar demand for footwear was not agreed to. A group of state finance ministers that is looking at GST rate rationalisation, has been asked to look at tax rate on textile. The group has been asked to present the report by February next year,

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Goods and Services Tax – GST Dated:- 31-12-2021 – News – Recommendations of 46th GST Council Meeting Existing GST rates in textile sector to continue beyond 1st January, 2022 The GST Council s 46th meeting was held today in New Delhi under the chairmanship of Union Finance Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has recommended to defer the decision to change the rates in textiles recommended in the 45th GST Council meeting. Consequently, the existing

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Goods and Services Tax – GST Dated:- 30-12-2021 – News – Consumer Welfare Fund made available to Board under Rule 97(7A) of the CGST Rules, 2017 (Management Administration) Central Board of Indirect Taxes Customs (CBIC), Department of Revenue, Ministry of Finance, Government of India SECTION-I Introduction Consumer Welfare Fund (CWF) has been constituted under Section 57 of the Central Goods Service Tax (CGST) Act, 2017 . The provision for utilization of CWF has been made in Section 58 of the CGST Act, 2017 which provides that the fund shall be utilized by the Government for the welfare of the consumers in such manner as may be prescribed. Accordingly, the provisions governing the manner of utilization of the Fund has been prescribed in Rule 97 of the CGST Rules, 2017 . Sub-rule (7A) of rule 97 provides that the Committee, constituted under sub-rule (4), shall make available to the Central Board of Indirect Taxes Cust

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) of the CGST Rules, 2017 for publicity and consumer awareness on Goods Service Tax (GST). Accordingly, the financial assistance from the Fund would be made available for: 1. To promote and protect the welfare of GST consumers and their empowerment. 2. To incentivize consumers for exercising their rights and responsibilities under GST. 3. Innovative projects for spreading consumer literacy and awareness and programmes for consumer education on GST. 4. Schemes and programmes for spreading awareness about the provisions of GST law and procedures, amongst the public at large. 5. Creation of digital platforms to facilitate consumers to know their rights. 6. Projects not covered by the above, but which in the opinion of Selection Committee, address pressing tax issues which maximize consumer welfare, or are in benefit of the taxpayer and public at large in relation to GST. In such cases, the Committee will record reasons in writing. SECTION-IV Eligibility

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y be considered necessary by the Selection Committee for proper running of the programme/project; SECTION-VI Extent of Assistance 1. The quantum of assistance/grant for a project shall be decided by the Selection Committee on case-to-case basis for reasons, to be recorded in writing, for such a quantum. 2. The proposal/project will invariably contain detailed break-up of total fund requirement, monthly/quarterly requirement of funds, activities to be conducted against the funds, outreach of the activities, outsourcing of services, infrastructure, manpower, contribution of the applicant, creation of digital and other form of information/data/documents etc. 3. Each project will have an agreement between the Board(to be entered into by DGGST) and grantee spelling out purpose of the project/programme/scheme, funds requirement, detailed information on the heads of requirement of funds, scope of the project, methodology of utilisation of funds, detailed methodology of exec

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l Committee. 2. All applications received shall be scrutinized from all parameters by an Appraisal Committee, before placing them for short listing and approval by the Selection Committee. 3. Decision of the Selection Committee shall be final. (B) Project Appraisal The proposal/execution of the project, will be appraised/monitored by a Project Appraisal Committee. The Committee shall consist of: (a) The Principal Additional Director General/ Additional Director General, Directorate General of Goods and Services Tax, New Delhi; Convenor (b) The Principal Additional Director General/ Additional Director General, Directorate General of Taxpayer Services, New Delhi; Member (c) The Principal Commissioner/ Commissioner, GST Policy Wing; Member (d) The Prin

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ll be placed, as soon as possible but not later than 1 month from the date of recommendation by the appraisal committee, before the Selection Committee for their consideration. Appraisal Committee shall also appraise the Selection Committee about the projects/proposals not found suitable by them. (C) Selection Committee There shall be a Selection Committee consisting of the following: (a) The Chairman, Central Board of Indirect Taxes and Customs (CBIC) Chairman (b) Member (GST), CBIC Member (c) Member (Taxpayer Services), CBIC Member (d) AS FA, Ministry of Finance Member (e) Pr. Chief Controller of Accounts, CBIC Member (f) Pr. Direc

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d be applicable for grant from the amount of fund made available to the Board under rule 97(7A) of the CGST Rules, 2017. SECTION -IX Fund Disbursement i. For each project, the proposal shall indicate a Project implementing authority. ii. Fund from the amount of fund made available to the Board under Rule 97(7A) will be placed for further utilisation for the particular project at his disposal. iii. If at the end of the financial year any fund will remain unutilized, the same shall be surrendered before 31st March. iv. If the project is to be implemented for time period spread over more than one financial year, fund shall be released on financial year basis subject to Utilisation Certificate of last financial year received, if any. SECTION-X Monitoring Evaluation: 1. All projects with funding above 50 Lakh will be monitored periodically by the Board (through DGGST) and evaluated by an independent agency on the metrics and deliverables before being

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Goods and Services Tax – GST Dated:- 30-12-2021 – News – In the context of ongoing investigations by the Directorate General of GST Intelligence (DGGI) in the case of M/s Odochem Industries, Kannauj- a manufacturer of perfumery compounds – and its proprietor Shri Peeyush Jain, wherein a total cash of ₹ 197.49 crore, 23 kg of gold and offending goods of high value have been recovered so far from two premises, reports have appeared in certain sections of the media that DGGI has decided to treat the cash recovered as the turnover of the manufacturing unit and proposes to proceed accordingly. Some reports have even stated that after admitting his liability, Shri Peeyush Jain has, with the approval of DGGI, deposited a total amount of &

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harge their tax liabilities and their tax liabilities are yet to be determined. Further, the voluntary submissions made by Shri Peeyush Jain are a subject matter of ongoing investigations and any view on the source of cash seized by the department and the exact tax liabilities of M/s Odochem Industries or other parties involved in the investigation shall be taken on the basis of appraisal of evidences collected from various premises during the searches and the outcome of further investigations. Based on his voluntary admission of guilt and the evidence available on record, Shri Peeyush Jain was arrested on 26.12.2021 for commission of offences prescribed under section 132 of the CGST Act and was produced before the Competent Court

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Goods and Services Tax – GST Dated:- 28-12-2021 – News – DGGI Ahmedabad seizes more than ₹ 177 crore in Kanpur search operations Search operations in related premises continue with recovery of ₹ 17 crore, 64 kg gold and 600 kg sandalwood oil worth ₹ 6 crore The Ahmedabad unit of Directorate General of GST Intelligence (DGGI) on 22.12.2021 initiated search operations in Kanpur at the factory premises of manufacturers of Shikhar brand Pan Masala and Tobacco products, the office/Godowns of M/s Ganpati Road Carriers, Transport Nagar, Kanpur , and the residential/factory premises of M/s Odochem Industries , suppliers of perfumery compounds, at Kanpur and Kannauj. After intercepting 4 trucks operated by M/s Gan

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the partners of M/s Odochem Industries located at 143, Anadpuri, Kanpur on 22.12.2021 has since been concluded. The total amount of unaccounted cash recovered and seized from this premises is ₹ 177.45 crore . This is the biggest ever seizure of cash by the CBIC officials. The documents seized from the premises are under scrutiny. Further, the DGGI officers have also searched the residential/factory premises of M/s Odochem Industries at Kannauj which is in progress. During the searches at Kannauj, the officers have been able to recover an amount of about ₹ 17 crore in cash, which is presently being counted by the SBI officials. In addition, recovery of approximately 23 kg of gold and huge unaccounted raw materials us

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Goods and Services Tax – GST Dated:- 24-12-2021 – News – On specific intelligence, officers of Directorate General of GST Intelligence (DGGI), Ahmedabad with the support of officers of local Central GST initiated search operations in Kanpur on 22.12.2021. The search operations covered the factory premises of M/s Trimurti Fragrance Pvt Ltd, Kanpur, manufacturers of Shikhar brand Pan Masala and Tobacco products and the office/godowns of M/s Ganpati Road Carriers, Transport Nagar, Kanpur, involved in transportation of goods. The information indicated clandestine supply of goods by the manufacturer without payment of applicable tax. The transporter reportedly used to generate multiple invoices in the name of non-existent firms , all belo

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GST. In the premises of the transporter, M/s Ganpati Road Carriers, more than 200 fake invoices used in the past for transportation of goods without payment of GST have been recovered. The transporter has also admitted that goods were being transported without e-way bills under the cover of fake invoices and also the sale proceeds was being collected in cash, to be handed over to the manufacturer. An amount of ₹ 1.01 crores in cash has been seized from the possession of transporter. Based on the intelligence inputs, the residential premises of partners of M/s Odochem Industries, Kannauj, UP, located at 143, Anandpuri, Kanpur, who were supplying perfumery compound, mostly in cash, to the said company was also searched. It was

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Goods and Services Tax – GST Dated:- 23-12-2021 – News – The Central Government vide Notification No. 38/2021-CT dated 21.12.2021 h as notified January 1, 2022 as the implementation date for Rule 10B of CGST Rules, 2017 . In the said rule, it is mandatory for the registered person to undergo Aadhaar authentication for the below purposes, Filing of application for revocation of cancellation of registration in FORM GST REG-21 under Rule 23 of CGST Rules, 2017 Filing of refund application in FORM RFD-01 under Rule 89 of CGST Rules, 2017 Refund of the IGST paid on goods exported out of India under Rule 96 of CGST Rules, 2017 . The taxable person, who have not yet authenticated their Aadhaar, may like to

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Goods and Services Tax – GST Dated:- 7-12-2021 – News – As per the provisions of the GST (Compensation to States) Act, 2017 , GST compensation for financial years 2017-18, 2018-19 and 2019-20 has already been paid to the States. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Rajya Sabha today. The Minister further stated that the economic impact of the pandemic has led to higher compensation requirement due to lower GST collection and at the same time lower collection of GST compensation cess. Recently, Centre released ₹ 17,000 crore on 03.11.2021 towards GST compensation to States from the Compensation Fund. Details of GST compensation released to States/ UTs is

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k loan to meet the resource of the States/UTs due to shortfall in GST compensation. Release of this amount has been front loaded during the financial year to enable States/UTs to undertake capital expenditure. In addition, depending on the amount available in the Compensation Fund, Centre has also been releasing the regular GST compensation to States to make up for GST revenue shortfall. The Minister stated that taking into account, the GST compensation released from Compensation Fund as well as back-to-back loan released in FY 2020-21 and FY 2021-22, GST compensation of ₹ 37,134 crore for period April 20 to March 21 and ₹ 14,664 crore for April-September 21 is pending to States/ UTs as per provisional figures. Centre is com

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Goods and Services Tax – GST Dated:- 2-12-2021 – News – Various new functionalities are implemented on the GST Portal, from time to time, for GST stakeholders. These functionalities pertain to different modules such as Registration, Returns, Advance Ruling, Payment, Refund and other miscellaneous topics. Various webinars are also conducted as well informational videos prepared on these functionalities and posted on GSTNs dedicated YouTube channel for the benefit of the stakeholders. To view module wise functionalities deployed on the GST Portal and webinars conducted/ Videos posted on our YouTube channel, refer to table below: Sl.No Taxpayer functionalities deployed on the GST Portal during

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Goods and Services Tax – GST Dated:- 1-12-2021 – News – ₹ 1,31,526 crore gross GST revenue collected in November GST collection for November,2021 surpassed last month collection registering the second highest since implementation of GST Revenues for the month of November 2021 , 25% higher than the GST revenues in the same month last year and 27% over 2019-20 The gross GST revenue collected in the month of November 2021 is ₹ 1,31,526 crore of which CGST is ₹ 23,978 crore , SGST is ₹ 31,127 crore , IGST is ₹ 66,815 crore (including ₹ 32,165 crore collected on import of goods) and Cess is ₹ 9,606 crore (including ₹ 653 crore collected on import of goods). The government has settled ₹ 27,273 crore to CGST and ₹ 22,655 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of November 2021 is ₹ 51251 crore for CGST and ₹ 5

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ministrative measures that have been taken in the past to improve compliance. Central tax enforcement agencies, along with the State counterparts have detected large tax evasion cases, mainly cases relating to fake invoices, with the help of various IT tools developed by GSTN that use the return, invoice and e-way bill data to find suspicious taxpayers. A large number of initiatives undertaken in the last one year like, enhancement of system capacity, nudging non-filers after last date of filing of returns, auto-population of returns, blocking of e-way bills and passing of input tax credit for non-filers has led to consistent improvement in the filing of returns over the last few months. The chart below shows trends in monthly gross GST revenues during the current year. The table shows the state-wise figures of GST collected in each State during the month of November 2021 as compared to November 2020. State-wise growth of GST Revenues during November 2021 [1]

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1,030 6% Sikkim 223 207 -7% Arunachal Pradesh 60 40 -33% Nagaland 30 30 2% Manipur 32 35 11% Mizoram 17 23 37% Tripura 58 58 -1% Meghalaya 120 152 27% Assam 946 992 5% West Bengal 3,747 4,083 9% Jharkhand 1,907 2,337 23% Odisha 2,528 4,136

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Goods and Services Tax – GST Dated:- 29-11-2021 – News – The gross GST Collection in FY 2021-22 post COVID-19 pandemic outbreak are showing an increasing trend. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in written reply to a question in Lok Sabha today. Giving more details, the Minister stated the gross GST collection for FY 2020-21 and 2021-22 (till Oct 2021) as under: – Month FY 2020-21 (Rs. in crore) FY 2021-22 (Rs. in crore) April 32172 139708 May 62151 102709 June 90918 92849

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Direct Tax collection figures for the FY 2021-22, the Minister stated that as on 23.11.2021 Gross Direct Tax collection figures for the FY 2021-22 are at ₹ 815262.7 crore showing a growth of 48.11% and 18.15% over the Gross collection figures for the corresponding period in FY 2021-22 and FY 2019-20, respectively. The Net Direct Tax Collection figures for the FY- 2021-22 as on 23.11.2021 are at ₹ 692833.6 crores showing a growth of 67.93% and 27.29% over the Net collection figures for the corresponding period FY 2020-21 and FY 2019-20, respectively as per Annexure-I , the Minister stated . In relation to the compensation cess, the Minister stated that the GST compensation cess levied under Section 8 of the GST (Compensat

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to all States/ UTs to partly meet the compensation payable for the period April 20 to March 21as the amount in GST Compensation Fund was not adequate to meet the full compensation requirement. This issue of shortfall in release in GST compensation was deliberated in 41 st 42 nd GST Council meetings and accordingly, Centre had borrowed loan of ₹ 1.1 lakh crore from open market and passed on as back-to-back loan to States/UTs to meet their resource gap due to short release of GST Compensation for FY 2020-21. Similarly, as per deliberation in 43rd GST Council meeting, Centre has borrowed ₹ 1.59 lakh crore loan and passed on to the States/UTs as was done in last year. Taking into account GST compensation released to States as w

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Improvements in GSTR-1 – Goods and Services Tax – GST Dated:- 26-11-2021 – News – A revamped enhanced version of GSTR-1/IFF is being made available on the GST Portal to improve the taxpayer experi

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Goods and Services Tax – GST Dated:- 15-11-2021 – News – Based upon specific intelligence, the officers of the Anti Evasion branch of Central Goods and Service Tax (CGST) Commissionerate, Delhi (East) have unearthed a case of availment/utilization and passing on of inadmissible input tax credit (ITC) through bogus GST invoices without actual movement of goods of ₹ 34 crore (approx). The 7 firms were created in order to generate bogus GST invoices with an intent to pass on fraudulent ITC without actual movement of goods and without paying actual GST to the Government. These entities have generated goods less GST invoices of value ₹ 220 crore (approx.) and passed inadmissible ITC amounting to ₹ 34 crore (approx.). Sh.

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Goods and Services Tax – GST Dated:- 3-11-2021 – News – The Central Government has released GST Compensation of ₹ 17,000 crore to States today. The total amount of compensation released to the States/UTs so far including the aforesaid amount during the year 2021-22 is ₹ 60,000 crore. As per the decision of GST Council, back to back loan of ₹ 1.59 lakh crore has already been released in lieu of shortfall in release of GST Compensation during the current financial year The table below shows the State-wise GST compensation released to States/UTs on 3 rd November 2021: Details of GST compensation released on 3 rd Nov, 2021 S.No. Name of State/ UT GST compensa

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achal Pradesh 177.6906 11 J K 168.4108 12 Jharkhand 264.4602 13 Karnataka 1602.6152 14 Kerala 673.8487 15 Madhya Pradesh 542.1483 16 Maharashtra 3053.5959 17 Manipur 0.0000 18 Meghalaya 27.7820 19 Mizoram 0.0000 20

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Goods and Services Tax – GST Dated:- 1-11-2021 – News – GST collection for October 2021 registered the second highest since implementation of GST ₹ 1,30,127 crore gross GST revenue collected in October Revenues for the month of October 2021 are 24% higher than the GST revenues in the same month last year and 36% over 2019-20 The gross GST revenue collected in the month of October 2021 is ₹ 1,30,127 crore of which CGST is ₹ 23,861 crore , SGST is ₹ 30,421 crore , IGST is ₹ 67,361 crore (including ₹ 32,998 crore collected on import of goods) and Cess is ₹ 8,484 crore (including ₹ 699 crore collected on import of goods). The government has settled ₹27,310 crore to CGST and ₹ 22,394 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of October 2021 is ₹ 51171 crore for CGST and ₹ 52,815 crore for the SGST. The reve

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vity. The revenues have also been aided due to the efforts of the State and Central tax administration resulting in increased compliance over previous months . In addition to action against individual tax evaders, this has been a result of the multipronged approach followed by the GST Council. On one hand, various measures have been taken to ease compliance like nil filing through SMS, enabling Quarterly Return Monthly Payment (QRMP) system and auto- population of return. During past one year, GSTN has augmented the system capacity considerably to improve user experience. On the other hand, the Council has also taken various steps to discourage non-compliant behaviour, like blocking of e-way bills for non-filing of returns, system-based suspension of registration of taxpayers who have failed to file six returns in a row and blocking of credit for return defaulters. Number of returns ( GSTR-3B ) of every month/quarter by the end of next month is a good parameter indicating

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rent month has increased considerably . 1.5 crore returns were filed in the month of July 2021 as taxpayers filed returns of past months taking benefit of the relaxation given due to Covid. With improvement of return filing, the focus of GST Council has been on timely filing of GSTR-1, the statement containing details of invoices. This statement is critical to ensure discipline in taking input tax credit. Various steps have been taken to ensure timely filing of GSTR-1 . Chart 4 displaying GSTR-1 filing by the end of the month shows that these steps have brought in the desired result as the percentage of GSTR-1 filed by the end of the month is clearly showing an upward trend. Overall, the impact of these efforts has ensured increased compliance and higher revenues. As a part of overall efforts to plug evasion, more steps to restrict fake ITC are under consideration of the GST Council. Chart 5 below shows the trend in monthly GST revenues during the year and the t

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1,272 1,259 -1% Haryana 5,433 5,606 3% Delhi 3,211 4,045 26% Rajasthan 2,966 3,423 15% Uttar Pradesh 5,471 6,775 24% Bihar 1,010 1,351 34% Sikkim 177 257 45% Arunachal Pradesh 98 47 -52% Nagaland 30 38 30% Manipur 43 64 49% Mizoram 32 32 1% Tripura

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Maharashtra 15,799 19,355 23% Karnataka 6,998 8,259 18% Goa 310 317 3% Lakshadweep 1 2 86% Kerala 1,665 1,932 16% Tamil Nadu 6,901 7,642 11% Puducherry 161 152 -6% Andaman and Nicobar Islands 19 26 40% Telangana 3,383 3,854 14% Andhra Pradesh 2,480 2,879 16% Ladakh 15 19

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Goods and Services Tax – GST Dated:- 28-10-2021 – News – The Ministry of Finance has released ₹44,000 crore today to the States and UTs with Legislature under the back-to-back loan facility in lieu of GST Compensation. After taking into account earlier release of ₹ 1,15,000 crore (₹ 75,000 crore released on 15 th July, 2021 and ₹ 40,000 crore released on 07 th October, 2021), total amount released in the current financial year as back-to-back loan in-lieu of GST compensation is ₹1,59,000 crore. This release is in addition to normal GST compensation being released every 2 months out of actual cess collection. Subsequent to the 43 rd GST Council Meeting held on 28.05.2021 , it was decided that the Centr

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ccruing in FY 2021-22. All eligible States and UTs (with Legislature) have agreed to the arrangements of funding of the compensation shortfall under the back-to-back loan facility. For effective response and management of COVID-19 pandemic and a step-up in capital expenditure all States and UTs have a very important role to play. For assisting the States/UTs in their endeavour, Ministry of Finance has frontloaded the release of assistance under the back-to-back loan facility during FY 2021-22 of ₹1,59,000 crore. The release of ₹44,000 crore being made now is funded from borrowings of GoI in 5-year securitiesissued in the current financial year, at a Weighted Average Yield of 5.69%. No additional market borrowing by Central

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attisgarh 1374.02 5. Goa 234.28 6. Gujarat 3608.53 7. Haryana 2045.79 8. Himachal Pradesh 745.95 9. Jharkhand 687.76 10. Karnataka 5010.90 11. Kerala 2418.49 12. Madhya Pradesh 1940.20 13. Maharashtra 3814.00 14

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Goods and Services Tax – GST Dated:- 27-10-2021 – News – The Gurugram Zonal Unit (GZU) of Directorate General of GST Intelligence (DGGI) has arrested three persons under the provisions of the GST Act on charges of running multiple fake firms on the strength of fake documents in two different cases. Two persons were arrested from Delhi on 5th and 9th October 2021 on charges of orchestrating a fake billing racket involving more than 20 fake firms where more than ₹ 22 crore of fraudulent input tax credit was taken thereby defrauding the exchequer. Both persons were arrested and produced before CMM, Delhi, and were subsequently sent to 14 days Judicial Custody. In another case of fake billing a resident of Pataudi, Haryana, was a

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Goods and Services Tax – GST Dated:- 19-10-2021 – News – As per Section 16(4) of CGST Act, 2017 , no taxpayer shall take input tax credit in respect records (invoices and debit notes) for supply of goods or services (or both) for Financial Year 2020-21 after the due date of furnishing the return for the month of September 2021. The due date for the GSTR-3B for September 2021 is either 20th October 2021 for monthly filers and 22nd or 24th October 2021 depending on the State/UT of registration of the taxpayer. In view of the same, the following may kindly be noted: i.) Records (invoice or debit notes) pertaining to Financial Year 2020-21 reported in GSTR-1 after due date of GSTR-3B of September 2021 will not reflect as ITC Ava

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