Goods and Services Tax

Goods and Services Tax – GST Dated:- 2-7-2020 – News – GST Day, 2020 or third anniversary of introduction of GST was marked by CBIC and all its field offices across India on July 01, 2020. GST has been instrumental in Breaking Barriers to build an Aatma Nirbhar Bharat and taking forward the motto of One Nation One Tax One Market. Considering the COVID pandemic most of the interactions with stakeholders to mark this day were made in virtual mode on digital platforms. Union Minister for Finance Corporate Affairs Smt. Nirmala Sitharaman on her message on GST Day, 2020 highlighted that GST has come a long way in simplifying the GST Tax Administration based on feedback from stakeholders. However, more efforts are required to ease tax com

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d processing of return and allowing Input Tax Credit needs to be made faster. Shri Thakur appreciated the hardwork of CBIC officers during lockdown period and efficient use of IT platforms to process GST refunds through remote access which in turn provided much liquidity to the taxpayers. Social activities by CBIC field officers of helping those in distress during COVID 19 was also applauded. Chairman CBIC Sh. M Ajit Kumar in a virtual departmental GST Day programme emphasised on assisting taxpayers and reaching out to them to resolve their grievances and honor the FM s message of Ease of Doing Business in its true essence. – News – Press release – PIB Tax Management India – taxmanagementindia – taxmanagement – taxmanagementindia.com

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Goods and Services Tax – GST Dated:- 1-7-2020 – News – Acting on specific intelligence the Directorate General of Goods and Service Tax Intelligence, Headquarters (DGGI, Hqrs) has unveiled an unregistered Pan Masala/Guthka factory, being run in Delhi. Searches were conducted at various places on 25.06.2020, including the unregistered factory, godowns and residence of main beneficiary. During the search, incriminating documents and electronic devices pertaining to the supply of Pan Ma

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Goods and Services Tax – GST Dated:- 1-7-2020 – News – GST Revenue collection for June, 2020 ₹ 90,917 crore gross GST revenue collected in the month of June The gross GST revenue collected in the month of June, 2020 is ₹ 90,917crore of which CGST is ₹ 18,980 crore , SGST is ₹ 23,970 crore , IGST is ₹ 40,302 crore (including ₹ 15,709 crore collected on import of goods) and Cess is ₹ 7,665 crore (including ₹ 607 crore collected on import of goods). The government has settled ₹ 13,325 crore to CGST and ₹ 11,117 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular sett

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2020. The revenues during the financial year has been impacted due to COVID-19, firstly due to the economic impact of the pandemic and secondly due to the relaxations given by the Government in filing of returns and payment of taxes due to the pandemic. However, figures of past three months show recovery in GST revenues. The GST collections for the month of April was ₹ 32,294 crore which was 28% of the revenue collected during the same month last year and the GST collections for the month of May was ₹ 62,009 crore which was 62% of the revenue collected during the same month last year. The GST collections for the first quarter of the year is 59% of the revenue collected during the same quarter last year. How

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Goods and Services Tax – GST Dated:- 28-6-2020 – News – In a major move towards GST taxpayers facilitation, the Government has decided to provide the facility of SMS filing of NIL statement of FORM GSTR-1 from 1 st week of July 2020. The Central Board of Indirect Taxes and Customs (CBIC) said that the filing of NIL statement in FORM GSTR-1 also through SMS would substantially improve ease of GST compliance for over 12 lakh registered taxpayers. At present, these taxpayers have to log into their account on the common portal and then file their statement of outward supplies in FORM GSTR-1 every month or each quarter. GST taxpayers with NIL outward supplies would not be required to log on to the GST Portal an

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C 042020 (for monthly return of April 2020) or NIL R1 09XXXXXXXXXXXZC 062020 (for quarterly return of April-June 2020). After this, they will get a six-digit code with validity up to 30 minutes and can confirm their Nil statement filing by sending: CNF space R1 space CODE to 14409. On successful code validation, return will be filed and taxpayers will be receiving an Acknowledgement number through SMS. By using the similar steps taxpayers can file their NIL return in FORM GSTR-3B also however they need to use 3B instead of R1 in their SMS to 14409. For more details, one may visit help at: www.gst.gov.in – News – Press release – PIB Tax Management India – taxmanagementindia – taxmanagement – taxmanagementindia

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Goods and Services Tax – GST Dated:- 12-6-2020 – News – The 40 th GST Council met under the Chairmanship of Union Finance Corporate Affairs Minister Smt Nirmala Sitharaman through video conferencing here today . The meeting was also attended by Union Minister of State for Finance Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States UTs and senior officers of the Ministry of Finance States/ UTs. The GST Council has made the following recommendations on Law Procedures changes. Measures for Trade facilitation: Reduction in Late Fee for past Returns: As a measure to clean up pendency in return filing, late fee for non-furnishing FORM GSTR-3B for t

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pecified dates (staggered upto 6 th July 2020) is reduced from 18% per annum to 9% per annum till 30.09.2020. In other words, for these months, small taxpayers will not be charged any interest till the notified dates for relief (staggered upto 6 th July 2020)and thereafter 9% interest will be charged till 30.09.2020.. Relief for small taxpayers for subsequent tax periods (May, June July 2020): In wake of COVID-19 pandemic, for taxpayers having aggregate turnover upto ₹ 5 crore, further relief provided by waiver of late fees and interest if the returns in FORM GSTR-3B for the supplies effected in the months of May, June and July, 2020 are furnished by September, 2020 (staggered dates

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Goods and Services Tax – GST Dated:- 8-6-2020 – News – In a significant move towards taxpayer facilitation, the Government has today onwards allowed filing of NIL GST monthly return in FORM GSTR-3B through SMS. This would substantially improve ease of GST compliance for over 22 lakh registered taxpayers who had to otherwise log into their account on the common portal and then file their returns every month. Now, these taxpayers with NIL liability need not log on to the GST Portal and may file their NIL returns through a SMS. 2. For this purpose, the functionality of filing Nil FORM GSTR-3B through SMS has been made available on the GSTN portal with immediate effect. The status of the returns so filed can be tracked on t

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Goods and Services Tax – GST Dated:- 5-6-2020 – News – Taking stock of the current situation due to COVID-19 where State Governments need to undertake expenditure while their resources are adversely hit, the Central Government has released the GST Compensation of ₹ 36,400 crore to the States/UTs with Legislature for the period from December, 2019 to February, 2020 today. The GST Compensation of ₹ 1,15,096 crore for period April-November, 2019 had already been released

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Goods and Services Tax – GST Dated:- 2-6-2020 – News – In the recent past, tweets have been noticed by the Government on the issue of waiver of late fee applicable on non-filing of GSTR 3B returns. The demands are largely for the waiver of late fee for the returns which were required to be filed from the beginning of Goods Services Tax (GST) i.e. August, 2017. It may be noted that for helping the small businesses having turnover less than ₹ 5 crore in the current situation arising out of COVID-19, Finance Minister Smt. Nirmala Sitharaman had already announced extension of GST returns of February, March, April and May 2020 till June 2020. No late fee will be charged for this period. The current requests for waiver of late

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Goods and Services Tax – GST Dated:- 5-5-2020 – News – Attention Taxpayers! Safeguard yourself from fake messages on GST Refunds It has been observed that some fraudulent messages are being circulated on WhatsApp, Email and SMS, claiming to process GST refund. It clearly shows that some miscreants have started to take undue advantage of Covid-19 crisis, by sending out fake messages with phishing links. One such link takes to a portal claimed to have been developed by GSTN. The same is fake and Government has notified only www.gst.gov.in as the common portal, under the GST Laws. Through such links, the taxpayers are asked to fill important information such as- Personal details, Address, Refund Details and KYC Verification, wh

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Do s Don ts Use only GST portal www.gst.gov.in for claiming refunds Do not reply to any message claiming to process GST refunds For any information on claiming GST refund, checking status of the refund application read https://www.gst.gov.in/help/refund Do not open any link or attachment in the message Remember that GST Network never call detailed personal information and refund details on email, WhatsApp or SMS Never fill any personal detail and other information on any platform other than GST portal for claiming refunds Stay updated with News Update section o

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Goods and Services Tax – GST Dated:- 18-4-2020 – News – The Central Board of Indirect Taxes and Customs (CBIC) said that it is fully committed to help the GST taxpayers in the present COVID-19 situation. Since 30th March 2020, CBIC has processed 12,923 refund applications involving claims worth ₹ 5,575 Crore, while in the last week itself, CBIC has processed 7,873 claims worth ₹ 3854 Crore. The CBIC said that a trade and business friendly measure taken by CBIC vide its Circular No. 133 dated 23.03.2020 to help GST returns filers to facilitate early ITC refunds and to ensure that the wrong ITC claims are not processed in the absence of relevant information, is misconstrued in certain section of social media and other m

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ecided in the GST Council to make declaration of classification codes a part of the application itself. The GST Council in the same meeting has also decided to allow bunching of tax periods across financial years to facilitate claim of refund by exporters. This would apply to applications filed after 31.03.2020. It may also be noted that the due date of all such applications which were due during 20th March 2020 and 29th June 2020 has been extended to 30.06.2020. The CBIC explained that the Circular No. 133 (dated 23.03.2020) is with regard to the requirement to give HSN/SAC code along with the refund application. The GST Law doesn t allow refund of credit availed on services and/or Capital Goods in certain categories. For example, Cap

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Goods and Services Tax – GST Dated:- 1-4-2020 – News – GST Revenue Collection for March, 2020 ₹ 97,597 Crore of gross GST revenue collected The gross GST revenue collected in the month of March, 2020 is ₹ 97,597crore of which CGST is ₹ 19,183 crore , SGST is ₹ 25,601 crore , IGST is ₹ 44,508 crore (including ₹ 18,056 crore collected on imports) and Cess is ₹ 8,306 crore (including ₹ 841 crore collected on imports). The total number of GSTR-3B Returns filed for the month of February up to 31 st March, 2020 is 76.5 lakh. The government has settled ₹ 19,718 crore to CGST and ₹ 14,915 crore to SGST from IGST as regular settlement. Inaddition,Centre has also apportioned unsettled balance IGST of ₹ 6000 crores on ad-hoc basis in the ratio of 50:50 between centre and States/UTs.The total revenue earned by Central Government and the State Governments after regular settlement in the mon

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uring the month of March, 2020 as compared to March, 2019 and for the full year. State-wise GST Collections during March 2020 State Mar-19 Mar-20 Growth 2018-19 2019-20 Growth Jammu and Kashmir 388 276 -29% 3,792 4,010 6% Himachal Pradesh 660 596 -10% 7,593 7,960 5% Punjab 1,166 1,181 1% 13,979 15,235 9% Chandigarh 162 153 -5% 1,779 1,988

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12,640 18% Sikkim 160 189 19% 1,917 2,248 17% Arunachal Pradesh 85 67 -22% 398 581 46% Nagaland 46 39 -16% 227 317 40% Manipur 46 36 -22% 309 435 41% Mizoram 50 33 -33% 213 296 39% Tripura 64 67 5% 556 680 22%

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5% Madhya Pradesh 2,624 2,407 -8% 25,683 28,354 10% Gujarat 6,521 6,820 5% 73,440 78,923 7% Daman and Diu 103 95 -8% 1,105 1,155 5% Dadra and Nagar Haveli 174 169 -3% 1,718 1,810 5% Maharashtra 15,596 15,002 -4% 1,70,289 1,85,917 9% Karnataka 6,983 7,144 2% 78,763

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361 21% Telangana 3,897 3,563 -9% 36,408 39,820 9% Andhra Pradesh 2,589 2,548 -2% 25,331 27,108 7% Other Territory 167 133 -21% 2,484 1,753 -29% Center Jurisdiction 74 81 10% 580 1,003 73% Total 82,165 78,700 -4% 8,76,794 9,44,414 8% – News – Press release – PIB Tax Management India – taxmanagementindia – tax

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Goods and Services Tax – GST Dated:- 23-3-2020 – News – In an investigation led by CGST Meerut team has prima facie revealed issuance of GST invoices of ₹ 1,708 crores from a chain fake firms/companies operating from Delhi, Moradabad and Meerut, involving fraudulent ITC of about ₹ 281 crores. The fraud amount may exceed on further probe. On the basis of initiative taken by the Chief Commissioner, Meerut, Data Analytics team analysed suspected firms. They passed on an information on the basis of which CGST Meerut unearthed a case of issuance of fake GST invoices without actual supply of goods and passing on the said fraudulent ITC to the other existing firms after circulation of invoices through a chain of fake firms/ compa

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h was subsequently withdrawn and returned back to those end recipients in cash after deduction of certain commission. On preliminary scrutiny, it appeared that the accused namely Shri Pradeep Kumar (kingpin) and his associates Shri Mohd. Shamshad and Shri Mohd. Sajjad had taken multiple GST Registrations at common address using common email ID and mobile number. During the search conducted at Meerut, Moradabad and Delhi, incriminating records, cash of ₹ 9.56 lakhs, flex boards of several firms, rubber stamps of various firms/ companies, digital signature dongles, Credit / Debit Cards with different names, photographs, Bank chequebooks, PAN cards etc. have been recovered seized. The offence committed by the accused Sh. Pradeep

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Goods and Services Tax – GST Dated:- 20-3-2020 – News – Officers of Anti-Evasion, Central GST Commissionerate, Delhi East, have unravelled an operation involving availment of fraudulent Input Tax Credit on the basis of fake invoices and evasion of GST by utilizing the said fraudulent ITC of ₹ 24 crores approx. by M/s Shub Conductors LLP. Investigation was initiated against M/s Shub Conductors LLP on intelligence that the firm had been availing fraudulent ITC on the basis of fake invoices raised by fictitious suppliers. Searches were conducted in the premises of M/s Shub Conductors LLP along with the suppliers suspected of being fake. It was found that among other firms, M/s Een Een Sales Corporation and M/s A.N. Marketing had pa

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ing a complex network of transactions among themselves, including transfer of money in bank accounts to make them appear genuine. This enabled them to raise fake invoices to manufacturers such as M/s Shub Conductors LLP, who availed the fraudulent Input Tax Credit without actual receipt of goods. The money received in Bank accounts was then withdrawn and routed back in cash to the recipients. Thus, the operation involved not only violation of GST law but also laundering of money. Searches were conducted in the business of M/s Shub Conductors LLP, as well as the residential premises of the partners, namely, Shri Vishal Gupta and his wife, Smt. Divya Gupta. The partners were not found to be present in either of the locations. Thereafter, b

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uctors LLP, Smt. Divya Gupta, who remains absconding till date. Shri Vishal Gupta, Partner in M/s Shub Conductors LLP appeared to have knowingly committed offence under the provisions of Section 132(1)(c) of the Central Goods Services Tax Act (CGST), 2017 , which is a cognizable and non-bailable offence, punishable under Section 132(5) of the CGST Act, 2017 . Accordingly, Shri Vishal Gupta was arrested on 17.03.2020 under Section 69(1) of the CGST Act, 2017 and remanded to judicial custody by the Duty Metropolitan Magistrate (MM) till 31.03.2020. Further investigation to unearth GST evasion racket on fake invoices is in progress. – News – Press release – PIB Tax Management India – taxmanagementindia – taxmanagement – t

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Goods and Services Tax – GST Dated:- 17-3-2020 – News – A large number of proprietorship / partnership firms registered with Gautam Buddha Nagar and other Commissionerates of Delhi NCR which were apparently connected and had claimed huge amount of refunds against accumulated Input Tax Credit (ITC) on account of inverted tax structure and Zero-rated supply of Goods were identified. Searches were conducted on 13.3.2020 by officers of CGST Gautam Budha Nagar along with other Commissionerates at various places declared as principal places of business and residential premises located in Delhi, Faridabad, Gurgaon, Noida and Greater Noida. During the search, none of the firms were found to be existing/ operational at their declared premis

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Goods and Services Tax – GST Dated:- 14-3-2020 – News – The 39 th GST Council met under the Chairmanship of Union Finance Corporate Affairs Minister Smt Nirmala Sitharaman here today . The meeting was also attended by Union Minister of State for Finance Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States UTs and seniors officers of the Ministry of Finance. GST Council took following decisions relating to changes in GST rates on supply of goods and services. 1. The recommendation of the Fitment Committee for calibrating the GST rate structure to correct the inverted duty structure on various items like Mobile phones, Footwear, Textiles and Fertilizers was placed before the GST Council for disc

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haul (MRO) services in respect of aircraft from 18% to 5% with full ITC and to change the place of supply for B2B MRO services to the location of recipient. This change is likely to assist in setting up of MRO services in India. Domestic MRO will also get protection due to 5% tax paid under section 3(7) of the Customs Tariff Act, 1975 on most imported goods (sent abroad for repairs) as this tax is not available as credit. Note: It is proposed to issue notifications giving effect to these recommendations of the Council on 01 st April, 2020. [This note presents the decision of the GST Council in simple language for easy understanding which would be given effect to through Gazette notifications/ circulars which shall have force of

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Goods and Services Tax – GST Dated:- 14-3-2020 – News – The 39 th GST Council met under the Chairmanship of Union Finance Corporate Affairs Minister Smt Nirmala Sitharaman here today. The meeting was also attended by Union Minister of State for Finance Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States UTs and seniors officers of the Ministry of Finance. In the GST Council meeting, Shri Nandan Nilekani, on behalf of Infosys, made a presentation addressing the system related issues that are being faced by the taxpayers in the GST system. He first gave the summary of the recently observed IT issues and the way forward to resolve them. He suggested that in order to smoothen the rollout of the new return s

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on of Aadhaar authentication and spike rules would also be initiated. He informed the Council that to augment the capacity of the IT system to concurrently handle 3 lakh taxpayers from the present level of 1.5 lakh taxpayers, hardware procurement process has been initiated which is slightly impacted by the Covid-19 pandemic. The GST Council further made the following suggestions after due discussions- Shri Nandan Nilekani would attend the next 3 meetings of the GST Council and update the council of the status of implementation of the decisions taken by the Council and assist the Council in taking appropriate decisions on technology related issues, To support the timely implementation of various initiatives, the Council gav

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Goods and Services Tax – GST Dated:- 14-3-2020 – News – The 39 th GST Council met under the Chairmanship of Union Finance Corporate Affairs Minister Smt Nirmala Sitharaman here today . The meeting was also attended by Union Minister of State for Finance Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States UTs and seniors officers of the Ministry of Finance. The GST Council has made the following recommendations on Law Procedures changes. Measures for Trade facilitation: Interest for delay in payment of GST to be charged on the net cash tax liability w.e.f. 01.07.2017 (Law to be amended retrospectively). Where registrations have been cancelled till 14.03.2020, application for revocation of cancellation of registration can be filled up to 30.06.2020 (extension of period of application as one-time measure to facilitate those who w

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t for availing the option of special composition scheme under notification No. 2/2019-Central Tax (Rate) dated 07.03.2019 by filing FORM CMP-02. A special procedure is being prescribed for registered persons who are corporate debtors under the provisions of the Insolvency and Bankruptcy Code, 2016 and are undergoing the corporate insolvency resolution process, so as to enable them to comply with the provisions of GST Laws during the CIRP period. Extension of due dates for FORM GSTR-3B for the month of July, 2019 to January, 2020 till 24 th March, 2020 for registered persons having principal place of business in the Union territory of Ladakh. Similar extension is also recommended for FORM GSTR-1 FORM GSTR-7 . Bunching of refund claims allowed across financial years to facilitate exporters. Deferment of E-invoice and QR Code : Certain class of regi

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of new GST registrations, before physical verification of premises and Financial KYC of the registered person. Issuance of circulars in respect of: Clarification in apportionment of ITC in cases of business reorganization under section 18 (3) of CGST Act read with rule 41(1) of CGST Rules ; Appeals during non-constitution of the Appellate Tribunal; Clarification on refund related issues; and Clarification on special procedure for registered persons who are corporate debtors under the provisions of the Insolvency and Bankruptcy Code, 2016 , undergoing the corporate insolvency resolution process. Amendments to the CGST Rules : Key amendments are as below: Procedure for reversal of input tax credit in respect of capital goods partly used for affecting taxable supplies and partly for exempt supplies under rule 4

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Goods and Services Tax – GST Dated:- 7-3-2020 – News – DGGI (Hqrs.) booked a case on 06.03.2020 against M/s Aastha Apparels Pvt Ltd others. Aforesaid companies have fraudulently claimed IGST refunds on export of goods to the tune of more than ₹ 61 Crores . It has been revealed that ITC has been fraudulently availed by M/s Aastha Apparels Pvt Ltd others on the basis of invoices received from non-existent/non-functional firms/companies or from companies which have indulged in circular trading. The said firms/companies also did not have commensurate purchases backwards. It has been further revealed that the supplier companies to these exporter companies are controlled managed by few persons only and the

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Goods and Services Tax – GST Dated:- 4-3-2020 – News – Directorate General of GST Intelligence (DGGI) Headquarters booked a case on 3 rd March 2020 against M/s Fortune Graphics Limited, M/s Reema Polychem Private Limited M/s Ganpati Enterprises. The aforesaid companies/ firms are involved in issuance of invoices without any actual supply of goods. This case was detected and developed by officers on further data analytics out of a case booked against one of the exporters, namely, M/s Anannya Exim, which was covered in the all India operation launched by DGGI-DRI on 11.09.2019, against various exporters for fraudulently claimed IGST refund on the strength of ineligible ITC.

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Goods and Services Tax – GST Dated:- 4-3-2020 – News – As part of a series of webcasts for addressing the queries of taxpayers on issues pertaining to Goods and Service Tax (GST) and Customs , Directorate General of Systems, CBIC and Directorate General of Taxpayer Services, CBIC are organizing a webcast on the problems faced in GST Registration . The said webcast will be held on 05.03.2020 (Thursday) from 11:00 A.M to 01:00 P.M. The YouTube URL for the webcast would be:

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Goods and Services Tax – GST Dated:- 3-3-2020 – News – Major Racket of Fake Invoicing of ₹ 7896 Crore Busted Involving Network of 23 Shell Companies Two Accused Arrested Remanded to 14 Days Judicial Custody The officers of Anti Evasion wing of Central Tax, Delhi West Commissionerate have busted a major racket of fake invoicing of ₹ 7896 crore involving fraudulent Input Tax Credit (ITC) of ₹ 1709 crore, using a network of 23 shell companies, which procured and generated invoices without actual supply of goods and availed as well as passed on ITC. Two persons have been arrested on 29.02.2020, in this matter. The accused persons were evading tax by creating several dummy firms for the purpose of passing on I

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Goods and Services Tax – GST Dated:- 2-3-2020 – News – Government has modified the guidelines of Interest Subvention Scheme for Incremental Credit to MSMEs 2018 on 13th December, 2019. In the modified guidelines, requirement of Udyog Aadhar Number (UAN) has been dispensed with for units registered for Goods and Service Tax (GST). However, in the case of units which are not registered under GSTN, may either submit Income Tax Permanent Account Number (PAN) or their loan account should be cate

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Goods and Services Tax – GST Dated:- 2-3-2020 – News – The Small and Medium sector companies now get the benefit of the new return model under GST which ensures quarterly filing of returns for those taxpayers whose annual aggregate turnover in the preceding Financial year does not exceed ₹ 5 crore. Department of Revenue have informed that there is no such proposal at this stage. Quarterly payment of GST is available to those MSMEs who opt for composition levy under section 10 of

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Goods and Services Tax – GST Dated:- 2-3-2020 – News – Officers of Anti-Evasion, Central GST Delhi East Commissionerate have unravelled a major operation of Circular Trading, involving use of fake invoices to claim fraudulent refunds of Input Tax Credit. Shri Asif Khan, Shri Rajeev Chhatwal and Shri Arjun Sharma, operating a total of 17 fake firms, procured invoices without actual supply of goods and availed as well as passed on ITC fraudulently, to the tune of ₹ 436 crores. The fraudulently availed ITC was used by them to file refund claims to the tune of ₹ 11.55 crores under Inverted Duty Structure. The said refund claims were also filed by fake firms floated by the accused persons. The accused persons are related to eac

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ame to light that the trio were planning to spread their operations to other States at the time they were apprehended. Shri Asif Khan, Shri Rajeev Chhatwal and Shri Arjun Sharma appear to have knowingly committed offences under Section 132(1)(b) and 132(1)(c) of CGST Act, 2017 which are cognizable and non-bailable offences as per the provisions of Section 132(5) and punishable under Clause (i) of Sub section (1) of Section 132 of the Act ibid. They also appear to have committed offence under Section 132(1)(e) of the Act. Accordingly, the said persons were arrested on 01.03.2020 under Section 69(1) of the CGST Act, 2017 and remanded to judicial custody till 13.03.2020 by the Chief Metropolitan Magistrate in Patiala

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Goods and Services Tax – GST Dated:- 2-3-2020 – News – New Delhi, Mar 1 (PTI) The government is planning to launch lottery offer under the Goods and Services Tax (GST) from April 1 by conducting lucky draws every month for invoices of all business to customer (B2C) transactions. The lottery scheme is being envisaged by the revenue department to encourage customers to take bills for every purchase, which will in turn help the government in curbing GST evasion. Under the scheme, the revenue department will conduct monthly lucky draws which will have one bumper prize, while there would be second and third prizes state wise, an official told PTI.

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became effective from July 1, 2017, has subsumed over a dozen indirect taxes, like excise and service tax. However, revenue under the new indirect tax regime has not picked up as per expectations, mainly on account of evasion. Officials expect the lottery scheme to incentivise customers to ask for bill or invoice while making purchases. The GST Council is likely to vet the lottery scheme in its next meeting on March 14. As per the plan, the money for the lottery scheme would come from the consumer welfare fund, where the proceeds of anti-profiteering cases are transferred. – News – Press release – PIB Tax Management India – taxmanagementindia – taxmanagement –

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